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Office Medical

Pikes Peak Medical Center

2504 E Pikes Peak Ave, Colorado Springs, CO 80909

Listing Price: $2,848,000

Cap Rate
7.50%
Gross SF
22,165
Rentable SF
22,165
Price/Gross SF
$128.49
Occupancy
80.0%
Year Built
1985
Lot Size
1.10 acres

Investment Overview

Marcus & Millichap is pleased to offer exclusively the opportunity to acquire this value-add Medical Office Building below replacement cost in Colorado Springs. The majority of the Center (68%) is leased on on a long-term, landlord friendly NNN lease to Intellitec Medical College. The vacant units remaining are turn-key as former Dental and Physical Therapy Offices. Colorado Springs has grown by approximately 48% and is projected to grow another 7% in the next five years. By 2050, the population of El Paso County is expected to exceed the population of the Denver Metro area.

Investment Highlights

  • Value-Add Medical Office 80% Occupied on Long-term, Landlord Friendly NNN Leases with IntelliTec Medical College and LSC Transportation Consultants
  • Three-Story Medical Office with Covered Parking Well Below Replacement Cost at $128/SF
  • Vacant Units Turn-Key as former Dental and Physical Therapy Offices

Exclusively Listed By

Financing By

Office Medical

Pikes Peak Medical Center

Listing Price: $2,848,000

Cap Rate
7.50%
Gross SF
22,165
Rentable SF
22,165
Price/Gross SF
$128.49
Occupancy
80.0%
Year Built
1985
Lot Size
1.10 acres

Investment Highlights

  • Value-Add Medical Office 80% Occupied on Long-term, Landlord Friendly NNN Leases with IntelliTec Medical College and LSC Transportation Consultants
  • Three-Story Medical Office with Covered Parking Well Below Replacement Cost at $128/SF
  • Vacant Units Turn-Key as former Dental and Physical Therapy Offices

Investment Overview

Marcus & Millichap is pleased to offer exclusively the opportunity to acquire this value-add Medical Office Building below replacement cost in Colorado Springs. The majority of the Center (68%) is leased on on a long-term, landlord friendly NNN lease to Intellitec Medical College. The vacant units remaining are turn-key as former Dental and Physical Therapy Offices. Colorado Springs has grown by approximately 48% and is projected to grow another 7% in the next five years. By 2050, the population of El Paso County is expected to exceed the population of the Denver Metro area.

Exclusively Listed By

Financing By

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