Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Medical Office Space
702 Tejon St Colorado Springs, CO 80903-1012
Entity Owned
Absentee Owner
Free & Clear
Property ID
US13-0640572
Property summary
AI-generated overview
This exceptional investment opportunity presents three buildings totaling 8,633 net rentable square feet situated on a 14,991 square foot lot at the highly desirable Northwest corner of North Tejon and East Monument Streets in Colorado Springs, Colorado. The property, comprised of three parcels (APN: 6407305022, 6407305021, 6407305020), consists of six fully occupied medical office units across two stories. Built in 1941 and 1960, these well-maintained buildings boast a 100% occupancy rate, generating a strong cash flow. The asking price is $1,795,000, translating to $207.92 per square foot. Conveniently located one block from the Ed Robson Arena, this prime location offers exceptional visibility and accessibility, benefiting from proximity to the vibrant North Tejon Corridor's diverse restaurants, shopping, and amenities. Easy access is also provided via the Bijou and Uintah exits. The property is zoned FBZ-T2A. This is a rare chance to acquire a stable, high-performing medical office portfolio in a thriving downtown area. The buildings offer a unique blend of history and modern functionality, making this an ideal investment for discerning buyers seeking a strong return on investment in a highly sought-after location.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1941
Construction
WOOD FRAME
Total area
3,722 SF
Lot
0.12 ac (5,300 SF)
Zoning code
FBZ-T2A
APN
6407305022
UPID
US13-0640572
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
VFW Post 101 Advocacy Group Social Service Agency
-
Urban Laboratories Drug Testing Service
-
Thomas & Thomas Planning-Urban Landscaping General Contractor
-
Sight Sound & Security Electronics & Wireless Store
-
Pikes Peak Lodge #2870 Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$492k
Blend (final)
Blend
$580k
Owner & transaction history
700 N TEJON INC
700 N TEJON INC
Zoning & alternative use
FBZ-T2A · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
$21
Zone name
Form Based Transition Sector 2 A
General category
UNKNOWN
Zone area
57.04 ac
Source
Realmo
Top alternative use upside
Office building
$930,000
+3.6%
Auto repair, garage
$915,000
+2.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Colorado Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Colorado Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$700,000
6.5%
$645,000
7%
$600,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$895,000
Current use
OFFICE BUILDING
$930,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$915,000
Change: +2% · Conversion: Difficult
RETAIL STORES
$780,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$156 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$171,580
Assessed 2023
Previous assessed
$171,580
+0.0% YoY
Assessed land
$24,990
Assessed improvement
$146,590
Land market value
$89,570
Improvement market value
$525,430
Total market value
$615,000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1941
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
2
Total area
3,722 SF
Lot
0.12 ac (5,300 SF)
Zoning code
FBZ-T2A
APN
6407305022
UPID
US13-0640572
Jurisdiction
EL PASO
Zoning & alternative use
FBZ-T2A · Colorado Springs, COZoning FBZ-T2A · permitted uses
FBZ-T2A · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
$21
Zone name
Form Based Transition Sector 2 A
General category
UNKNOWN
Zone area
57.04 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$895,000
OFFICE BUILDING
Est. value
$930,000
AUTO REPAIR, GARAGE
Est. value
$915,000
RETAIL STORES
Est. value
$780,000
MEDICAL BUILDING Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1941
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
2
Lot
0.12 ac
Current owner
From public records · entity-resolved
700 N TEJON INC
Entity
Free & Clear · 0 yrs held
Mailing address
20 W WASHINGTON ST, COLORADO SPRINGS, CO 80907-6733
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 702 Tejon St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
