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2504 E Pikes Peak Ave 22,165 SF 68% Leased Office Building Colorado Springs, CO 80909 $2,848,000 ($128.49/SF)
Investment Highlights
- Massive Capital Improvement Projects Ongoing and in the Pipeline throughout the MSA - Olympic Museum, Downtown Stadium, 3.5 Million square-foot Amazon
- New Roof Installed in 2017
- Value-Add Medical Office 68% Occupied on Long-Term, Landlord Friendly NNN Lease with Intellitec Medical College.
- Vacant Units Turn-Key as former Dental and Physical Therapy Offices
Executive Summary
Value-Add Medical Office Investment – With Long-Term NNN Tenancy
This 22,165 RBA, three-story medical office building presents a compelling value-add opportunity, currently 68% occupied with a stable, long-term NNN lease in place with IntelliTec Medical College. The property is offered well below replacement cost at just $128/SF and includes covered parking for tenant and patient convenience.
Vacant suites are in turnkey condition, formerly built out for dental and physical therapy uses—ideal for owner-users or new tenants seeking immediate occupancy.
Market & Location Highlights:
New roof installed in 2017
Strategically located near Downtown Colorado Springs, just south of the U.S. Olympic & Paralympic Training Center
279,666 residents within a 5-mile radius with an average household income of $73,029
Colorado Springs is one of the fastest-growing cities in the U.S., with approximately 48% population growth to date and an additional 7% projected over the next five years
El Paso County is expected to surpass the Denver Metro population by 2050
Recognized Nationally:
#1 Most Desirable Place to Live – U.S. News & World Report (2022–2023)
#1 Best Place to Travel Globally – Forbes Advisor (2023)
Among the top U.S. cities for millennial population growth – Brookings Institute
This asset combines stable cash flow, upside potential, and a location in one of the nation's most dynamic growth markets.
This 22,165 RBA, three-story medical office building presents a compelling value-add opportunity, currently 68% occupied with a stable, long-term NNN lease in place with IntelliTec Medical College. The property is offered well below replacement cost at just $128/SF and includes covered parking for tenant and patient convenience.
Vacant suites are in turnkey condition, formerly built out for dental and physical therapy uses—ideal for owner-users or new tenants seeking immediate occupancy.
Market & Location Highlights:
New roof installed in 2017
Strategically located near Downtown Colorado Springs, just south of the U.S. Olympic & Paralympic Training Center
279,666 residents within a 5-mile radius with an average household income of $73,029
Colorado Springs is one of the fastest-growing cities in the U.S., with approximately 48% population growth to date and an additional 7% projected over the next five years
El Paso County is expected to surpass the Denver Metro population by 2050
Recognized Nationally:
#1 Most Desirable Place to Live – U.S. News & World Report (2022–2023)
#1 Best Place to Travel Globally – Forbes Advisor (2023)
Among the top U.S. cities for millennial population growth – Brookings Institute
This asset combines stable cash flow, upside potential, and a location in one of the nation's most dynamic growth markets.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
22,165 SF
Building Class
B
Year Built
1985
Price
$2,848,000
Price Per SF
$128.49
Percent Leased
68%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,388 SF
Slab To Slab
12’
Building FAR
0.46
Lot Size
1.10 AC
Zoning
OC
Parking
133 Spaces (6 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 3rd Fl-Ste 301
- 2,317 SF
- Office/Medical
- Full Build-Out
- Now
- 3rd Fl-Ste 302
- 2,149 SF
- Office/Medical
- Full Build-Out
- Now
- 3rd Fl-Ste 304
- 2,212 SF
- Office
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 3rd Fl-Ste 301 | 2,317 SF | Office/Medical | Full Build-Out | Now |
| 3rd Fl-Ste 302 | 2,149 SF | Office/Medical | Full Build-Out | Now |
| 3rd Fl-Ste 304 | 2,212 SF | Office | Full Build-Out | Now |
3rd Fl-Ste 301
| Size |
| 2,317 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 302
| Size |
| 2,149 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 304
| Size |
| 2,212 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
Walk Score®
Very Walkable (70)
Property Taxes
| Parcel Number | 64161-17-034 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $973,710 |
Property Taxes
Parcel Number
64161-17-034
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$973,710
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2504 E Pikes Peak Ave
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