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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5855 Lehman Dr Colorado Springs, CO 80918

    • Office buildings
    • 6,288 SF
    • 0.36 lot acres
    For Lease
    View listing
    $9 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-2694824
    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.

    Current Use by Public Records

    • Annie's Skin Care Boutique / Beauty Salon
    • Luxhouse Chiropractic - Dr. Lane O'Dea, DC / Chiropractor
    • Dr. Eric Hutchinson / Psychologist
    • Infinite Rejuvenation LLC / Massage Therapist
    • Live Love Play - Therapy / Doctor

    Property Details for 5855 Lehman Dr

    Year built
    1983
    Construction
    WOOD FRAME
    Lot size
    0.36 lot acres
    Property size
    6,288 SF
    Zone code
    PBC HS
    Property type
    Office buildings
    APN
    6316305022
    APU
    6316305022

    Description

    This exceptional executive office suite, located at 5855 Lehman Dr in Colorado Springs, Colorado, presents a fantastic opportunity for businesses seeking a prestigious and functional workspace. The suite encompasses 1,572 square feet of readily available space within a larger 3,144 square foot building. Situated in El Paso County, with a zip code of 80918, this property offers convenient access to key transportation routes and amenities. The building is classified as a multi-tenant office building, providing a professional and collaborative environment. The available space is ideal for a variety of business needs, offering ample room for offices, meeting areas, and support staff. The property's location in Colorado Springs provides access to a thriving business community and a diverse workforce. This is a rare opportunity to secure a well-appointed office suite in a desirable location. The address is easily accessible and visible, enhancing your company's professional image. The suite is ready for immediate occupancy, allowing for a quick and seamless transition for your business. Contact us today to schedule a viewing and explore the possibilities of establishing your business in this prime Colorado Springs location. The property is categorized as an Executive Office and Commercial space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $968,000
      Market price range: $874k - $1.52M
      AI Estimate
      $730,000
      Market price range: $285k - $1.49M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,190,000
      Current use
      RETAIL STORES
      $1,320,000
      Change: +11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.787
    Latitude
    38.9169
    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
    $12,049
    $49,740
    $178,550
    $228,290
    -
    $178,288
    $639,952
    $818,240

    Comparable in this City

    • Value Estimation
      $1,330,000
      11,748 SF

      6295 Lehman Dr

      OFFICE BUILDING • 11,748 SF
      6295 Lehman Dr, Colorado Springs, CO 80918-1473
      View Details
    • Value Estimation
      $2,300,000
      13,992 SF

      4525 Northpark Dr

      OFFICE BUILDING • 13,992 SF
      4525 Northpark Dr, Colorado Springs, CO 80918-3811
      View Details
    • Value Estimation
      $2,330,000
      13,600 SF

      5525 Erindale Dr

      OFFICE BUILDING • 13,600 SF
      5525 Erindale Dr, Colorado Springs, CO 80918-6740
      View Details
    • Value Estimation by Request
      1,834 SF

      5770 Flintridge Dr

      OFFICE BUILDING • 1,834 SF
      5770 Flintridge Dr, Colorado Springs, CO 80918-1881
      View Details
    • Value Estimation
      $4,015,000
      33,278 SF

      5360 Academy Blvd

      OFFICE BUILDING • 33,278 SF
      5360 Academy Blvd, Colorado Springs, CO 80918-4006
      View Details
    • Value Estimation by Request
      1,495 SF

      5145 Academy Blvd Ste, Unit 100

      OFFICE BUILDING • 1,495 SF
      5145 Academy Blvd Ste, Colorado Springs, CO 80918-4051
      View Details

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    Similar Nearby for Lease

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      Versatile Commercial Spaces For Lease

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      Class A Office Building For Rent

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      Two-Story Office Building For Rent

      8,742 SF office building with monument signage available.
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      View Details
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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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