Add Listing
    For Lease
    • 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

    1640 S Circle Dr Colorado Springs, CO 80910

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space for lease in growing Spring Creek community.

    Property size:
    1,212 SF
    Lot size:
    10.74 Acres

    Property Features for 1640 S Circle Dr

    General Information

    Size
    1,212 SF
    Lot size
    10.74 Acres

    We can help!

    Listing Contact
    Greg Kaufman
    Greg Kaufman
    Source: Moodyscre

    Listing Agency: KCRE Advisors Listing Agent: Greg Kaufman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Spring Creek

    This retail space is located at the northwest corner of S. Circle Dr. and Monterey Rd in the Spring Creek community. The property features longstanding tenants including Dollar Tree, Taco Express, and EZPawn. Ongoing property improvements are underway, including parking lot repairs, painting, new lighting, and signage. The location provides easy access to major highways. Outdoor exercise equipment, colorful murals, and art installations are present. A grocery anchor is planned to open at this location in Q3 2025. The available space is 1212 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Friday's food trucks Restaurant Breakfast Beauties Restaurant The Breakfast Shack Restaurant Kolache Shack Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness 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
    -104.780926
    Latitude
    38.808635

    Nearby Similar for Lease

    • New
      Contact for pricing

      CO, Colorado Springs - Corporate Dr

      Workspaces, services and support to help you work better in Coral Gables
      6760 Corporate Dr, Colorado Springs, CO 80919
      View Details
    • New
      Contact for pricing

      Downtown Alamo Corporate Center

      Workspaces, services and support to help you work better in Downtown Alamo Corporate Center
      102 Tejon St, Colorado Springs, CO 80903
      View Details
    • $12 SF/Yr

      Versatile Commercial Spaces For Lease

      Exceptional commercial spaces available for lease in two well-maintained buildings.
      5775 N Union Blvd, Colorado Springs, CO 80918
      View Details
    • Sponsored
      New
      Contact for pricing

      Delmonico Drive

      Discover many ways to work your way in Delmonico Drive
      5825 Delmonico Dr, Colorado Springs, CO 80919
      View Details
    • New
      Contact for pricing

      Briargate

      Discover many ways to work your way in Briargate
      1755 Telstar Dr, Colorado Springs, CO 80920
      View Details
    • $14 SF/Yr

      Downtown Retail Space Available

      Newly renovated retail space in downtown Colorado Springs.
      324 E Pikes Peak Ave, Colorado Springs, CO 80903
      View Details
    • $17 SF/Yr

      Downtown Colorado Springs Office Space

      Class A office space with mountain views and on-site parking.
      102 N Cascade Ave, Colorado Springs, CO 80903
      View Details
    • $15 SF/Yr

      Functional Showroom Space Available

      Clean, adaptable showroom space on heavily traveled 8th Street.
      502 S 8Th St, Colorado Springs, CO 80905
      View Details
    • $10 SF/Yr

      Flexible Suites on Academy Boulevard

      Two suites for sublease with short-term flexibility and prime location.
      5540 N Academy Blvd, Colorado Springs, CO 80918
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space for lease in growing Spring Creek community.
    Where is this strip mall located?
    The property is located at 1640 S Circle Dr Colorado Springs, CO.
    What are key features of this property?
    This property features: - New Grocery Anchor (Q3 2025): Attracts significant foot traffic and increases property value.; - Strategic Location: Northwest corner of S. Circle Dr. and Monterey Rd. in growing Spring Creek.; - Ongoing Property Improvements: Includes parking lot repairs, painting, new lighting, and signage.
    (719) 309-3900 Call to check price and availability
    Request Owner's contact information
    1640 S Circle Dr Colorado Springs, CO 80910
    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.
    1640 S Circle Dr
    Colorado Springs, CO 80910
    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
    1640 S Circle Dr Colorado Springs, CO 80910
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Greg Kaufman
    Greg Kaufman
    Real Estate License ID: FA.040021138
    (719) 309-3900 (719) 229-8041
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!