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Property profile & analytics
FOR LEASE
Office buildings
7222 Commerce Center Dr Colorado Springs, CO 80919
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US13-2696297
For Lease
1 / 5
$17 SF/Yr
7222 Commerce Center Dr, Colorado Springs, CO 80919
View Listing →
Property summary
AI-generated overview
One Commerce Center, located at 7222 Commerce Center Drive in Colorado Springs, CO 80919, offers exceptional office space in a prime location. This two-story, Class A, multi-tenant building boasts a total of 83,160 square feet and provides flexible options for businesses of various sizes. Built in 1984 and extensively renovated in 2018, the property features contemporary interior finishes and efficient floor plans. Suites range from a minimum of 1,251 square feet to a maximum contiguous space of 3,351 square feet, with five spaces currently available. The building's strategic location offers convenient access to the I-25 and Woodmen Road interchange, ensuring easy commutes for employees and clients. Its proximity to numerous restaurants and hotels adds to its appeal. The property is situated in El Paso County and benefits from the vibrant business environment of Colorado Springs. This is an excellent opportunity to secure high-quality office space in a well-maintained and conveniently located building. Contact us today to learn more about available suites and lease terms.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
CONCRETE
Total area
83,160 SF
Lot
4.75 ac (206,910 SF)
Zoning code
PBC/CR HS HR SS
APN
6307002005
UPID
US13-2696297
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
-
Bird & Wittenberg Dental Dental Office
-
Bird Wittenberg Dental Partner: Bird Philip T DDS Dental Office
-
Waterhole Software Inc (Bike/Boat/Book/etc) Store Corporate Office
-
Tetra Tech Environmental Consultant Engineering Consultant
-
Daniel Hensley Family Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.55M
CAP Approach
CAP
$13.44M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.89M
Owner & transaction history
Heyman Colorado Springs LLC · 6 yrs held
Heyman Colorado Springs LLC
since 2020
Last sale
$10.6M
7 recorded transactions
Zoning & alternative use
PBC/CR HS HR SS · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$17.5M
+19.3%
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
$11,785,000
ML approach
$10,550,000
CAP Approach
CAP Return
Estimation
6%
$14,555,000
6.5%
$13,435,000
7%
$12,475,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$14,645,000
Current use
RETAIL STORES
$17,475,000
Change: +19% · Conversion: Moderate
Blend value · Realmo final
$10.89M
Range $9.80M – $11.97M · ±10% · vs last sale $10.60M (Jan 6 2020)
Last sale anchor
$10.60M
Jan 6 2020
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
$131 / 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
Tax billed
$219,637
Tax year 2023
Assessed value
$3,517,680
Assessed 2023
Previous assessed
$3,517,680
+0.0% YoY
Effective rate
6.24%
On assessed value
Assessed land
$366,570
Assessed improvement
$3,151,110
Land market value
$1,313,879
Improvement market value
$11,294,311
Total market value
$12,608,190
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1984
Construction
CONCRETE
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Total area
83,160 SF
Lot
4.75 ac (206,910 SF)
Zoning code
PBC/CR HS HR SS
APN
6307002005
UPID
US13-2696297
Jurisdiction
EL PASO
Zoning & alternative use
PBC/CR HS HR SS · Colorado Springs, CO
Zoning PBC/CR HS HR SS · permitted uses
PBC/CR HS HR SS · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Colorado Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$14.6M
RETAIL STORES
Est. value
$17.5M
OFFICE BUILDING Current
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
1984
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Lot
4.75 ac
Current owner
From public records · entity-resolved
Heyman Colorado Springs LLC
Entity
Mailing address
PO BOX 261787, ENCINO, CA 91426-1787
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2022
—
Jicyman Colorado Springs LLC
—
Deed
related
$7,800,000 · Independent Bank
Jan 6, 2020
$10,600,000
Heyman Colorado Springs LLC
Valentia Office LLC
Special Warranty Deed
—
Mar 13, 2018
—
Valentia Office LLC
—
Deed
related
$6,980,000 · Independent Bk
Oct 10, 2016
—
Valentia Office LLC
—
Deed
related
$4,500,000 · Lasalle Bk
Apr 10, 2006
$4,550,000
Valentia Office LLC
Columbine West LLC
Special Warranty Deed
$5,650,000 · Lasalle Bank NA
—
—
Valentia Office LLC
—
Loan Modification
related
$4,500,000 · Lasalle Bk
—
—
Valentia Office LLC
—
Deed Of Trust
related
$6,980,000 · Independent Bk
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.
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