Entity Owned 
For Lease
1 / 2
Contact for pricing
5775 N Union Blvd, Colorado Springs, CO 80918
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Property summary
AI-generated overview
The property consists of two separate commercial buildings. The first is a three-story stucco-and-stone building with office space on all levels, served by five HVAC units and an additional mini-split system, and includes a pool. The upper floor office area has access via a private entrance or from the main floor. This building is supported by 22 on-site parking spaces, including four ADA-compliant spaces. The second building is a two-story structure designed for flexible use, with multiple multipurpose rooms, two ADA-compliant restrooms, and a spacious kitchen and meeting area. Its interior includes carpeting and luxury vinyl plank flooring, and the building is equipped with four HVAC units, four furnaces, and a 50-gallon water heater. Pedestrian access is available from the west, south, and east sides of the building, and it provides 28 on-site parking spaces in total.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Construction
WOOD FRAME
Total area
8,849 SF
Lot
1.61 ac (70,132 SF)
Zoning code
OR P
APN
6315314006
UPID
US13-0089439
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Gym & Fitness Center
-
Physician
-
Physician
-
Charitable Organization Social Service Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.15M
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$465k
Owner & transaction history
since 2013
7 recorded transactions
Zoning & alternative use
OR P · Colorado Springs, CO
Top alternative use upside
Neighborhood: shopping center
$2.4M
+41.0%
Auto repair, garage
$2.2M
+30.2%
Medical building
$2.1M
+27.2%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$465k
Value range
$419k – $512k
±10% around blend
Estimated value / SF
$53 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
30
Income certainty
100
$419k
blend $465k
$512k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
8,849 SF
Lot area
1.61 ac
Year built
1978
Stories
2
APN
6315314006
Zoning
OR P
Assessed value
$550,560
Annual tax
$29,706
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.15M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.32M
@ 6.5% CAP return
$2.15M
@ 7% CAP return
$1.99M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$29,706
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$751k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.0 mi away · 6,383 SF
5.3 mi away · 8,649 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$465k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 46 sales
$189
-72%
Submarket 352 sales
$214
-75%
County 374 sales
$217
-76%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $53/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+41%
vs current-use indication
Auto Repair, Garage
Medical Building
Retail Stores
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.90M
Move the market yield to see immediate price impact.
Value / SF
$214
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$120k
$2.39M
$1.71M
$1.33M
$133k
$2.66M
$1.90M
$1.48M
$146k
$2.92M
$2.09M
$1.62M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$1.28M
3.9 mi · Dec 2025 · $159/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$29,706
Tax year 2023
Assessed value
$550,560
Assessed 2023
Previous assessed
$550,560
+0.0% YoY
Effective rate
5.40%
On assessed value
Assessed land
$95,880
Assessed improvement
$454,680
Land market value
$343,642
Improvement market value
$1,629,690
Total market value
$1,973,332
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1978
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Total area
8,849 SF
Lot
1.61 ac (70,132 SF)
Zoning code
OR P
APN
6315314006
UPID
US13-0089439
Jurisdiction
EL PASO
Zoning & alternative use
OR P · Colorado Springs, COZoning OR P · permitted uses
OR P · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Construction
WOOD FRAME
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
2
Lot
1.61 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
OR P
Jurisdiction
Colorado Springs, CO
Recorded code
OR P
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for OR P in Colorado Springs, CO.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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