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    600 S 21St St Colorado Springs, CO 80904

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    600 S 21St St Colorado Springs, CO 80904

    View on Map
    • Strip malls
    • 36,094 SF
    • 3.03 lot acres
    For Lease
    $7,390,000
    View Listing →
    Flexible Office/Retail Space Available For Lease
    $7,390,000
    3,926 SF

    Flexible Office/Retail Space Available

    3,926 SF office/retail space in a high-traffic location.

    600 S 21st St, Colorado Springs, CO 80904
    View Listing
    Property ID
    US13-0580958
    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

    • Michael Plachta / Pediatrician / Physician
    • Cindy Endicott / Physician
    • Jason Bierschbach / Physician
    • Jasmine Garth / Physician
    • Ricardo Delgado / Physician

    Property Details for 600 S 21St St

    Year built
    1887
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.03 lot acres
    Property size
    36,094 SF
    Zone code
    C6
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    7411328039
    APU
    7411328039

    Description

    This exceptional 3,926 square foot office/retail space is ideally situated in Colorado Springs at 600 S 21st St, conveniently located near Highway 24 and Cimmaron. The property boasts a highly visible location within the bustling Roundhouse Center (Van Briggle building), ensuring significant foot traffic and brand exposure. The single-tenant space offers ample on-site parking for employees and clients, enhancing convenience and accessibility. The building itself totals 21,459 square feet, situated on a 3.03-acre lot. This property presents a unique opportunity for businesses seeking a prominent presence in a thriving Colorado Springs commercial area. Monument signage opportunities are available, further maximizing brand visibility. The property's strategic location and ample parking make it an attractive option for a variety of businesses. This space is perfect for businesses seeking high visibility and easy access for customers and employees alike. The property is classified as retail with an office subtype.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,315,000
      6.5%
      $7,675,000
      7%
      $7,130,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,895,000
      Market price range: $1.30M - $9.32M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $9,620,000
      Current use
      AUTO REPAIR, GARAGE
      $8,885,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $8,680,000
      Change: -10% Conversion: Difficult
      OFFICE BUILDING
      $7,710,000
      Change: -20% 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
    -104.86
    Latitude
    38.84
    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
    $0.00
    $241,200
    $1,458,400
    $1,699,600
    -
    $864,508
    $5,227,232
    $6,091,740

    Comparable in this City

    • Value Estimation
      $20,400,000
      115,608 SF

      1768 Uintah St

      SHOPPING CENTER, STRIP CENTER • 115,608 SF
      1768 Uintah St, Colorado Springs, CO 80904-2958
      View Details
    • Value Estimation by Request
      427 SF

      2501 Colorado Ave, Unit 2

      SHOPPING CENTER, STRIP CENTER • 427 SF
      2501 Colorado Ave, Colorado Springs, CO 80904-3070
      View Details
    • Value Estimation by Request
      1,763 SF

      2501 Colorado Ave Ste 1-d

      SHOPPING CENTER, STRIP CENTER • 1,763 SF
      2501 Colorado Ave Ste 1-d, Colorado Springs, CO 80904-3000
      View Details
    • Value Estimation by Request
      793 SF

      2501 Colorado Ave, Unit 9

      SHOPPING CENTER, STRIP CENTER • 793 SF
      2501 Colorado Ave, Colorado Springs, CO 80904-3070
      View Details
    • Value Estimation
      $4,095,000
      36,876 SF

      3107 Colorado Ave

      SHOPPING CENTER, STRIP CENTER • 36,876 SF
      3107 Colorado Ave, Colorado Springs, CO 80904-2040
      View Details
    • Value Estimation
      $3,335,000
      14,662 SF

      1625 Uintah St

      SHOPPING CENTER, STRIP CENTER • 14,662 SF
      1625 Uintah St, Colorado Springs, CO 80904-5900
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Colorado Springs Retail Opportunity

      Retail property for sale in Colorado Springs, Colorado.
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    • $3,250,000
      0.69 Acres

      Colorado Springs Commercial Site For Sale

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      Versatile Flex Space For Sale

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      1,500 SF

      Established Hair Salon For Sale

      Long-term hair salon with private rooms and open booths.
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    Similar Nearby for Lease

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      14,800 SF

      Retail Space Near King Soopers

      Retail space available in busy shopping center near King Soopers.
      1764-1840 W Uintah St, Colorado Springs, CO 80904
      View Details
    • Contact for pricing
      3,370 SF

      Retail Spaces with Immediate Occupancy

      Retail spaces available for lease, including a tap room.
      3107-3141 W Colorado Ave, Colorado Springs, CO 80904
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      3,018 SF

      Historic Building in Old Colorado

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      Flexible Office/Retail Space Available

      3,926 SF office/retail space in a high-traffic location.
      600 S 21St St, Colorado Springs, CO 80904
      View Details
    • Contact for pricing

      Retail Space with High Visibility

      Retail space with excellent visibility and convenient access to highways.
      1625-1635 W Uintah St, Colorado Springs, CO 80904
      View Details
    • Contact for pricing
      1,000 SF

      Charming Retail/Office Space in Colorado

      Street-level retail/office with high visibility in Old Colorado City.
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      View Details
    View Listing
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    600 S 21St St
    Colorado Springs, CO 80904
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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.

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    600 S 21St St, Colorado Springs, CO, 80904

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