Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23 N 15Th St Colorado Springs, CO 80926

    Sponsored
    For Sale
    $315,000

    LAND - Colorado Springs, CO

    Lot size:
    40.00 Acres
    Days on Market:
    116
    Last Refresh:
    Feb 1 at 7:06 pm

    Property Features for 23 N 15Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    40.00 Acres

    We can help!

    Listing Contact
    Mike Bast
    Mike Bast

    Pikes Peak Dream Homes Realty (719) 310-4462

    Listing agent Mike Bast (719) 229-1481

    Listing date Oct 9, 2025

    MLS# 7975336 Listing URL

    Copyright © 2025 Pikes Peak Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Colorado Springs 40-Acre Land Parcel

    This 40-acre parcel is located along the side of Cheyenne Mountain in Colorado Springs, Colorado. The property offers panoramic views of the Front Range, rolling hills, and open skies. The diverse terrain includes gentle slopes, elevated vantage points, and natural wooded areas. The location provides privacy and tranquility, with opportunities to observe wildlife, sunrises, sunsets, and starry nights. Despite its secluded feel, the property is located not far from the amenities of Colorado Springs, offering a balance between mountain hiking and city convenience. This parcel presents an opportunity for long-term investment in Colorado's landscape.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Law Firm Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.8468605
    Latitude
    38.8401241

    Nearby Similar for Sale

    • New
      $1,499,800
      0.16 Acres

      Modern Duplex in Colorado Springs

      Move-in ready duplex with finished basement and mountain views.
      145 Terrace Dr, Colorado Springs, CO 80906
      View Details
    • New
      $2,599,000
      0.19 Acres

      Downtown Haven with Skyline View

      Spacious rooms, private bathrooms, and city skyline views.
      6 Boulder Crescent St, Colorado Springs, CO 80903
      View Details
    • $989,900
      0.16 Acres

      Modern Duplex Near UCCS

      Side-by-side units with 4 beds, 4 baths, 2-car garage.
      4266 Orchid St, Colorado Springs, CO 80917
      View Details
    • New
      $529,000
      1,052 SF

      Income Opportunity with Modern ADU

      Charming home with a fully furnished, modern ADU for income.
      711 N Spruce St, Colorado Springs, CO 80905
      View Details
    • $2,400,000
      1.08 Acres

      Turn-Key Church Property For Sale

      Highly visible church property near Garden of the Gods.
      820 N 30Th St, Colorado Springs, CO 80904
      View Details
    • $629,900
      Pending

      Charming Triplex Near Old North

      Well-located triplex with three units, perfect for investment or living.
      4 W Harrison St, Colorado Springs, CO 80907
      View Details
    • $830,000
      0.22 Acres

      Duplex with Separate Cottage

      Large lot near Memorial Hospital and Olympic Training Center.
      1512 E Monument St, Colorado Springs, CO 80909
      View Details
    • $679,000
      0.23 Acres

      Historic Triplex in Old Colorado

      Historic triplex with investment and single-family conversion potential.
      708 Cooper Ave, Colorado Springs, CO 80905
      View Details
    • $450,000
      0.21 Acres

      Colorado Springs Duplex on Large Lot

      Duplex near downtown Colorado Springs with remodeled upper unit.
      909 E Costilla St, Colorado Springs, CO 80903
      View Details
    • $745,000
      0.23 Acres

      Income-Producing Duplex in Colorado Springs

      Well-maintained duplex with updated unit and rental income potential.
      6714 Palace Dr, Colorado Springs, CO 80918
      View Details
    • $585,000
      Pending

      Urban Townhouse with Income Potential

      Downtown living with income from two separate units.
      910 S Weber St, Colorado Springs, CO 80903
      View Details
    • $675,000
      0.16 Acres

      Colorado Springs Duplex Investment Opportunity

      Well-maintained duplex in desirable location near downtown and trails.
      414 W Cheyenne Rd, Colorado Springs, CO 80906
      View Details

    FAQs

    What type of property is this?
    Land - 40 acres with panoramic Front Range views near Colorado Springs.
    Where is this land located?
    The property is located at 23 N 15Th St Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: - Breathtaking panoramic views of the Front Range, rolling hills, and open skies.; - 40-acre parcel on Cheyenne Mountain offering privacy and tranquility.; - Diverse terrain with gentle slopes and wooded areas, ideal for wildlife viewing.
    (719) 229-1481
    Request Owner's contact information
    23 N 15Th St Colorado Springs, CO 80926
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23 N 15Th St
    Colorado Springs, CO 80926
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23 N 15Th St Colorado Springs, CO 80926
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mike Bast
    Mike Bast
    Real Estate License ID: 100047223
    (719) 229-1481
    Learn more
    Google sign-in failed. Please try again or use another login method.