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    Highway 94 Commercial Land Opportunity Title is generated by Realmo AI

    415 N Franceville Coal Mine Road, Colorado Springs, CO 80929

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    For Sale
    $2,925,000

    Commercial Sale, Other - Colorado Springs, CO

    Type:Unimproved Land
    Lot size:
    38.50 Acres
    Added:
    Oct 31, 2025
    Days on Market:
    198
    Last Refresh:
    May 16 at 1:06 pm

    Property Features for 415 N Franceville Coal Mine Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    44000-00-565
    Lot size
    38.50 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Mike Jacobson
    Mike Jacobson

    Listing agent Mike Jacobson

    Listing office Engel & Völkers Pikes Peak 2748 Northgate Boulevard, Colorado Springs, CO

    Listing date Oct 31, 2025

    MLS# 2848074 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Located within the Colorado Springs Annexation plan near the future Flying Horse East development.
    • High‑visibility location on Hwy 94 and Franceville Coal Mine Road with 10,500 daily vehicles.
    • Proximity to Schriever Space Force Base (8,000 employees) and other large developments.
    • Close to dirt race tracks, a large gun club, and the future Wild Horse Ranch park.
    • 20 acres prepped for RV storage, offering immediate income potential.
    • Situated between Schriever SFB and Peterson SFB.

    Overview

    This 38.5-acre commercial land is ideally situated 5 miles east of Marksheffel along Highway 94, approximately midway between Schriever Space Force Base and Peterson Space Force Base. The property is located within the Colorado Springs Annexation plan area for the Highway 94 Corridor, extending towards Schriever, and the developing Flying Horse East community. The Flying Horse East development encompasses 5,500 acres and is planned to include 30,000 housing units, commercial properties, multiple schools, two golf courses, and hotels. Additional developments underway in the area include Mayberry, with 2,550 housing units, and Reagan Ranch, with 1,600 units. Schriever Space Force Base has 8,000 military and civilian employees. Approximately 10,500 vehicles per day pass this property on Highway 94 and Franceville Coal Mine Road. Nearby points of interest include two dirt race tracks, Colorado’s largest multi-use gun club, and the 1,000-acre Wild Horse Ranch park and open space south on Franceville Coal Mine Road. The site includes 20 acres prepped for RV storage, with opportunities to adjust the site development plan.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Big Box & Wholesale Store HVAC Service Auto Parts Store

    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
    -104.591003
    Latitude
    38.83509

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    FAQs

    What type of property is this?
    Land - 38.5 acres of commercial land near developing area.
    Where is this land located?
    The property is located at 415 N Franceville Coal Mine Road Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $2,925,000.
    What are key features of this property?
    This property features: Located within the Colorado Springs Annexation plan near the future Flying Horse East development.; **High‑visibility location** on Hwy 94 and Franceville Coal Mine Road with 10,500 daily vehicles.; Proximity to Schriever Space Force Base (8,000 employees) and other large developments.
    (719) 235-8195
    We can help!
    Listing Contact
    Mike Jacobson
    Mike Jacobson
    Real Estate License ID: FA100078250
    Learn More
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    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.

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    415 N Franceville Coal Mine Road, Colorado Springs, CO 80929
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