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    4905 N Union Blvd Colorado Springs, CO 80918
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    Property profile & analytics

    4905 N Union Blvd, Colorado Springs, CO 80918

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    • Office buildings
    • 15,672 SF
    • 0.71 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Three-Story Office Building For Rent For Lease
    $15 SF/Yr

    Three-Story Office Building For Rent

    Handicap accessible office building with ample parking and visibility.

    4905 N Union Blvd, Colorado Springs, CO 80918
    View Listing
    Property ID
    US13-0328080
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • William Marsh & Associates / Tax Preparation
    • Advanced Therapy / Medical Clinic
    • Prudential-Steinert Financial Group / Insurance Agency
    • Anderson & Lopez / Law Firm
    • Colorado Hypnosis / Consultant / Weight Loss Service

    Property Details for 4905 N Union Blvd

    Year built
    1978
    Construction
    WOOD FRAME
    Lot size
    0.71 lot acres
    Zone code
    PBC
    Property type
    Office buildings
    APN
    6321407005
    APU
    6321407005

    Description

    This exceptional three-story office building, situated at 4905 N Union Blvd in Colorado Springs, CO 80918, offers a prime location just one block south of Academy Boulevard. Boasting 15,672 square feet of total space, the building features a convenient and highly visible street presence. Currently, 1,512 square feet are vacant, presenting an immediate opportunity for a new tenant. The building is handicap accessible, equipped with an automated entry door and elevator for easy access from the ample on-site parking (47 spaces). Suite 100, a ground floor space of 1,100 square feet, is particularly well-suited for professional use, featuring two private offices, a kitchen area with a sink, and a spacious multi-purpose room ideal for a reception or waiting area. The property sits on a 0.71-acre lot and is zoned PBC. The lease is a modified gross lease, with tenants responsible for their pro-rata share of utilities and landscaping maintenance. This building provides excellent signage opportunities and high visibility, making it an ideal location for a variety of businesses. Don't miss this chance to secure a prominent space in a thriving Colorado Springs location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,179,000
      Market price range: $2.18M - $3.80M
      AI Estimate
      $1,353,000
      Market price range: $711k - $3.73M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.776
    Latitude
    38.9029
    CBSA code
    17820
    CBSA name
    COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,697
    $65,130
    $357,510
    $422,640
    -
    $233,446
    $1,281,389
    $1,514,835

    Comparable in this City

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      5585 Erindale Dr Ste, Unit 102

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    • Value Estimation by Request
      523 SF

      5585 Erindale Dr Ste, Unit 205

      OFFICE BUILDING
      5585 Erindale Dr Ste, Colorado Springs, CO 80918-6969
      View Details

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      Versatile Commercial Spaces For Sale

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      Turn-Key Office Property For Sale

      Stable, fully occupied office building in North Academy corridor.
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    Similar Nearby for Lease

    • Contact for pricing

      Three-Story Office Building For Rent

      Handicap accessible office building with ample parking and visibility.
      4905 N Union Blvd, Colorado Springs, CO 80918
      View Details
    • $14 SF/Yr
      Pending

      Professional Office Building For Lease

      Two-story office building in University Office Park available for lease.
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      3,383 SF

      Class A Office Building For Rent

      Well-located, newly renovated Class A office building with ample parking.
      5225 N Academy Blvd, Colorado Springs, CO 80918
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      167 SF

      Two-Story Office Building For Rent

      8,742 SF office building with monument signage available.
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      9,000 SF

      Versatile Commercial Spaces For Lease

      Exceptional commercial spaces available for lease in Colorado Springs.
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      Move-in Ready Office Suites Available

      Professional office suites in desirable location with on-site parking.
      1980 Dominion Way, Colorado Springs, CO 80918
      View Details
    View Listing
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    Colorado Springs, CO 80918
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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