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Eastside Medical-Dental Bldg 1304 N Academy Blvd 22,664 SF 100% Leased Office Building Colorado Springs, CO 80909 $1,950,000 ($86.04/SF) 7% Cap Rate
Investment Highlights
- 100% Occupied with Short-Term Leases, and Below Market Rents • Long-Term Tenants Demonstrate Desirability of The Building and Location
- Extensive Recent Electronic upgrades - Security System, Cameras, Access control, Door Intercom , Digital Directory, Lobby Music, Building Website
- • 22,664 Gross Square Feet per El Paso County • Built in 1965
Executive Summary
Marcus & Millichap is pleased to present the Eastside Medical – Dental building. This 22,664-gross-square-foot, class C medical office is located at 1304 N Academy Blvd in Colorado Springs, Colorado. 100 percent occupied with longer term tenants, this opportunity provides an owner/user or investor with amazing upside.
Short-term leases and below market rents allow a new investor to increase their upside signing new tenants or bringing current tenants to market rates. Additionally, most of the tenants have occupied space for longer periods, demonstrating the desirability of the building and location.
Positioned at the signalized intersection of North Academy Boulevard and East San Miguel Street, the property offers outstanding visibility, accessibility, and proximity to major healthcare providers, retail amenities, and residential neighborhoods.
A new owner/user can benefit from the short-term leases and occupy a great building and location, helping to offset the expenses and build equity in a desirable building and great location.
Contact Brokers for Full Offering Memorandum
Short-term leases and below market rents allow a new investor to increase their upside signing new tenants or bringing current tenants to market rates. Additionally, most of the tenants have occupied space for longer periods, demonstrating the desirability of the building and location.
Positioned at the signalized intersection of North Academy Boulevard and East San Miguel Street, the property offers outstanding visibility, accessibility, and proximity to major healthcare providers, retail amenities, and residential neighborhoods.
A new owner/user can benefit from the short-term leases and occupy a great building and location, helping to offset the expenses and build equity in a desirable building and great location.
Contact Brokers for Full Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
22,664 SF
Building Class
C
Year Built/Renovated
1965/2023
Price
$1,950,000
Price Per SF
$86.04
Cap Rate
7%
NOI
$136,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
11,332 SF
Slab To Slab
12’
Building FAR
0.46
Lot Size
1.14 AC
Opportunity Zone
Yes
Zoning
PBC, Colorado Sprgs
Parking
100 Spaces (4.41 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Controlled Access
- Property Manager on Site
- Security System
- Signage
- Storage Space
- Air Conditioning
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Fairly walkable
50/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 64101-01-058 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $582,620 |
Property Taxes
Parcel Number
64101-01-058
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$582,620
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