8580 Scarborough Dr, Colorado Springs, CO 80920

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.

Listing Page: https://www.hoffleigh.com/listing/8580-scarborough-drive/

Virtual Tour: https://my.matterport.com/show/?m=h5RRNrKRLTU