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    516 W Bijou St Colorado Springs, CO 80903
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    516 W Bijou St Colorado Springs, CO 80903

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    • Office buildings
    • 2,959 SF
    • 0.25 lot acres
    For Lease
    View Listing →
    516 W Bijou St, Colorado Springs, CO For Lease
    Contact for pricing

    516 W Bijou St, Colorado Springs, CO

    2,958 SF office building near I-25 for sale or lease.

    516 W Bijou St, Colorado Springs, CO 80903
    View Listing
    Property ID
    US13-0409631
    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
    $875,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Eaton Maureen / Physician
    • SLP TechTools / Physician
    • Varner Pamela / Physician
    • Croom Michelle M / Physician
    • Stephanie Cavin / Physician

    Property Details for 516 W Bijou St

    Year built
    1894
    Construction
    WOOD FRAME
    Lot size
    0.25 lot acres
    Property size
    2,959 SF
    Zone code
    OC
    Property type
    Office buildings
    APN
    7413109018
    APU
    7413109018

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $890,000
      ML approach
      $920,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $682,000
      Market price range: $405k - $956k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $630,000
      Current use
      COMMERCIAL (GENERAL)
      $1,140,000
      Change: +80% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $790,000
      Change: +25% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $730,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $710,000
      Change: +13% Conversion: Easy
      RETAIL STORES
      $620,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.835
    Latitude
    38.8374
    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
    $7,680
    $10,150
    $136,320
    $146,470
    -
    $36,366
    $488,600
    $524,966

    Comparable in this City

    • Value Estimation
      $16,880,000
      98,647 SF

      850 Leader Way

      OFFICE BUILDING • 98,647 SF
      850 Leader Way, Colorado Springs, CO 80905-7353
      View Details
    • Value Estimation
      $750,000
      2,120 SF

      432 Bijou St

      OFFICE BUILDING • 2,120 SF
      432 Bijou St, Colorado Springs, CO 80905-1309
      View Details
    • Value Estimation
      $590,000
      5,268 SF

      1749 8th St

      OFFICE BUILDING • 5,268 SF
      1749 8th St, Colorado Springs, CO 80905-7915
      View Details
    • Value Estimation
      $570,000
      2,961 SF

      1070 8th St

      OFFICE BUILDING • 2,961 SF
      1070 8th St, Colorado Springs, CO 80905-7307
      View Details
    • Value Estimation by Request
      9,600 SF

      1765 8th St

      OFFICE BUILDING • 9,600 SF
      1765 8th St, Colorado Springs, CO 80905-7910
      View Details
    • Value Estimation by Request
      3,040 SF

      616 Monument St

      OFFICE BUILDING • 3,040 SF
      616 Monument St, Colorado Springs, CO 80905-1215
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,600 SF

      Office Building with Rental Income

      Office building for sale with existing rental income.
      1765 S 8Th St, Colorado Springs, CO 80905
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      Colorado Springs Office/Medical Property

      4,563 SF office/medical property in Colorado Springs for sale.
      1539 S 8Th St, Colorado Springs, CO 80905
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      Colorado Springs Office/Medical Property

      Versatile office/medical property in Colorado Springs with dual-tenant configuration.
      1539 S 8Th St, Colorado Springs, CO 80905
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      6,966 SF

      Colorado Springs Office/Medical Condo

      Office/medical condo in central Colorado Springs with versatile layout.
      955-957 E Colorado Ave, Colorado Springs, CO 80905
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      1,096 SF

      Colorado Springs Office Condo

      Professional office condo in central Colorado Springs location.
      955 E Colorado Ave, Colorado Springs, CO 80905
      View Details
    • $374,900

      Private Lot Backing Bear Creek

      Unique lot with city and mountain views near Bear Creek.
      1035 Beta Loop, Colorado Springs, CO 80905
      View Details

    Similar Nearby for Lease

    • $350 /Mo
      500 SF

      Colorado Springs Office Space Available

      Two-story office building with executive spaces for lease.
      1757 S 8Th St, Colorado Springs, CO 80905
      View Details
    • Contact for pricing

      Westside Colorado Springs Commercial Space

      Commercial space with fenced yard and office, convenient I-25 access.
      421 East Arvada St, Colorado Springs, CO 80905
      View Details
    • Contact for pricing

      Retail Space in Cheyenne Hills

      Highly visible retail space available in southern Colorado Springs.
      445 E Cheyenne Rd, Colorado Springs, CO 80905
      View Details
    • Contact for pricing

      Colorado Springs Industrial Space Available

      Industrial property available for lease in Colorado Springs, Colorado.
      1440 Pando Ave, Colorado Springs, CO 80905
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space on Nevada Avenue

      Retail space with high visibility and strong demographics.
      1841 S Nevada Ave, Colorado Springs, CO 80905
      View Details
    • Contact for pricing
      650 SF

      Colorado Avenue Yard Space Available

      Half-acre yard space for lease near downtown Colorado Springs.
      605 W Colorado Ave, Colorado Springs, CO 80905
      View Details
    View Listing
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    516 W Bijou St
    Colorado Springs, CO 80903
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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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