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Office Condo For Sale • 1,763 SF
| Name | Condo Use | Size | Price | Details |
|---|---|---|---|---|
| 2nd Floor - Unit 3 Combined | Medical Office | 1,763 SF | $2,310,000 USD | |
DescriptionOverview This offering features 3 Class A medical office condominiums (7,347 square feet) all leased to The Colorado Dermatology Institute. Priced at $2,310,000, this is a pure 7% cap rate on the $161,634 of Net Operating Income guaranteed by the medical practice. With a new 7 year lease and substantial (2025) improvements (new roof, new RTUs), this is a stable, income-generating medical investment opportunity with no forecast capital improvements required. This is the deal your Grandmother would love! Details: • Tenant: The Colorado Dermatology Institute • Units for sale: Condominiums 200, 205, and 225 • Size: 7,347 square feet [27.79% of the entire building] all located on the 2nd floor • Lease length: 7 years with 2 five-year renewal options • Lease Rate: $22.00 per square foot per year NNN with 3% annual increases in rent • Net Operating Income: $161,634 • Price per square foot: $314.29 • Condition of the building: Class A with a new roof and RTUs • HOA: The Seller’s portion of the monthly HOA contribution is: Suite 200: $1,793.54 for monthly operating costs + $729.22 for capital reserves Suite 205: $1,591.59 for monthly operating costs + $647.11 for capital reserves Suite 225: $3,296.17 for monthly operating costs + $1,340.15 for capital reserves • The 2025 operating budget was $288,505 (approximately $11 per square foot) • Currently, the HOA possesses $164,169 in the capital reserve account. The HOA maintains the parking lot, landscaping, interior common area, (including 4 public restrooms), and the building’s exterior. Individual owners are responsible for the interior of their suite, including their suite’s entry door, windows, and all utilities separately metered to their suite. T he HOA plans to replace the carpet, repaint the common area, and seal coat the parking lot prior to 2027. For a private showing and all the confidential financial information, call Tim Leigh: 719-337-9551, Holly Trinidad: 719-337-0999. |
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Overview This offering features 3 Class A medical office condominiums (7,347 square feet) all leased to The Colorado Dermatology Institute. Priced at $2,310,000, this is a pure 7% cap rate on the $161,634 of Net Operating Income guaranteed by the medical practice. With a new 7 year lease and substantial (2025) improvements (new roof, new RTUs), this is a stable, income-generating medical investment opportunity with no forecast capital improvements required. This is the deal your Grandmother would love! Details: • Tenant: The Colorado Dermatology Institute • Units for sale: Condominiums 200, 205, and 225 • Size: 7,347 square feet [27.79% of the entire building] all located on the 2nd floor • Lease length: 7 years with 2 five-year renewal options • Lease Rate: $22.00 per square foot per year NNN with 3% annual increases in rent • Net Operating Income: $161,634 • Price per square foot: $314.29 • Condition of the building: Class A with a new roof and RTUs • HOA: The Seller’s portion of the monthly HOA contribution is: Suite 200: $1,793.54 for monthly operating costs + $729.22 for capital reserves Suite 205: $1,591.59 for monthly operating costs + $647.11 for capital reserves Suite 225: $3,296.17 for monthly operating costs + $1,340.15 for capital reserves • The 2025 operating budget was $288,505 (approximately $11 per square foot) • Currently, the HOA possesses $164,169 in the capital reserve account. The HOA maintains the parking lot, landscaping, interior common area, (including 4 public restrooms), and the building’s exterior. Individual owners are responsible for the interior of their suite, including their suite’s entry door, windows, and all utilities separately metered to their suite. The HOA plans to replace the carpet, repaint the common area, and seal coat the parking lot prior to 2027. For a private showing and all the confidential financial information, call Tim Leigh: 719-337-9551, Holly Trinidad: 719-337-0999.
| Tenant: The Colorado Dermatology Institute |
| Units: Three condominiums (200, 205, and 225) |
| Lease Term: 7 years with two renewal options |
| Net Operating Income: $161,634 (7% cap rate) |
| Airport | Drive | Walk | Distance |
|---|---|---|---|
| City of Colorado Springs Municipal | 22 min | - | 12.1 mi |
| Parking Available: | Yes |
| Reserved: | No |
| Spaces Provided: | 150 |
| Type: | Surface |
| Included in Rent: | Yes |
Holly Trinidad
Hoff & Leigh Colorado Springs, LLC
Holly Trinidad
Hoff & Leigh Colorado Springs, LLC