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    617 N 17Th St Colorado Springs, CO 80904
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    617 N 17Th St Colorado Springs, CO 80904

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    • Office buildings
    • 12,968 SF
    • 0.55 lot acres
    For Lease
    $1,500 /Mo
    View Listing →
    Updated Office Space For Rent For Lease
    $1,500 /Mo
    1,807 SF

    Updated Office Space For Rent

    Updated second-floor office space with Pikes Peak views.

    617 N 17th St, Colorado Springs, CO
    View Listing
    Property ID
    US13-0807885
    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

    • Holly Horter Yoga / Gym & Fitness Center
    • Root: Center for Yoga & Sacred Studies / Gym & Fitness Center
    • SHOWCASE OF RETIREMENT COMMUNITIES / Retirement Community
    • Rickords & Associates PC: Henson Emilene CPA / Accounting Firm / Tax Preparation
    • Mindful Healing Sounds / Wellness Program

    Property Details for 617 N 17Th St

    Year built
    1976
    Construction
    WOOD FRAME
    Lot size
    0.55 lot acres
    Property size
    12,968 SF
    Zone code
    C5
    Property type
    Office buildings
    APN
    7412213018
    APU
    7412213018

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,270,000
      6.5%
      $2,095,000
      7%
      $1,945,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,774,000
      Market price range: $1.77M - $4.19M
      AI Estimate
      $1,140,000
      Market price range: $1.07M - $2.91M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,770,000
      Current use
      WAREHOUSE, STORAGE
      $2,550,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.845
    Latitude
    38.8474
    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
    $17,250
    $43,390
    $279,820
    $323,210
    -
    $155,536
    $1,002,935
    $1,158,471

    Comparable in this City

    • Value Estimation by Request
      1,698 SF

      1626 Colorado Ave

      OFFICE BUILDING • 1,698 SF
      1626 Colorado Ave, Colorado Springs, CO 80904-6400
      View Details
    • Value Estimation by Request
      1,699 SF

      1526 Colorado Ave

      OFFICE BUILDING • 1,699 SF
      1526 Colorado Ave, Colorado Springs, CO 80904-4027
      View Details
    • Value Estimation
      $775,000
      3,852 SF

      1624 21st St

      OFFICE BUILDING • 3,852 SF
      1624 21st St, Colorado Springs, CO 80904-4296
      View Details
    • Value Estimation
      $705,000
      5,776 SF

      1430 21st St Ste, Unit 100

      OFFICE BUILDING • 5,776 SF
      1430 21st St Ste, Colorado Springs, CO 80904-4279
      View Details
    • Value Estimation by Request
      900 SF

      10 23rd St

      OFFICE BUILDING • 900 SF
      10 23rd St, Colorado Springs, CO 80904-3314
      View Details
    • Value Estimation by Request
      880 SF

      2001 Black Cyn Rd

      OFFICE BUILDING • 880 SF
      2001 Black Cyn Rd, Colorado Springs, CO 80904-4633
      View Details

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      12,000 SF

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      2,640 SF office building for sale in Colorado Springs.
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      Turnkey Office in Old Colorado

      Pristine, standalone office in historic Old Colorado City.
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    • $385,000
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      Standalone office property in historic Old Colorado City.
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    Similar Nearby for Lease

    • $3,600 /Mo
      1,312 SF

      Freestanding Office Building For Rent

      Unique office building with excellent visibility and distinctive design.
      1626 E Pikes Peak Ave, Colorado Springs, CO 80904
      View Details
    • Contact for pricing

      Westside Office Suites For Rent

      Collaborative office setting near downtown with ample parking.
      310 S 14Th St, Colorado Springs, CO 80904
      View Details
    • Contact for pricing

      Commercial Space in Old Colorado

      Retail/office space with apartment in high-traffic location.
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      View Details
    • Contact for pricing

      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
      1,000 SF

      Charming Retail/Office Space in Colorado

      Street-level retail/office with high visibility in Old Colorado City.
      2627 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    • Contact for pricing

      Charming Retail/Office Space in Colorado

      Street-level retail/office suite with great visibility and character.
      2627 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    View Listing
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    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.

    More about this property
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