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    120 Sahwatch St Colorado Springs, CO 80903

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    For Sale
    Contact for pricing

    Prime 2.3-acre mixed-use opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 2.3-acre development site is located in the heart of downtown Colorado Springs, offering unparalleled access to a vibrant urban environment. Situated within an Opportunity Zone and boasting unobstructed mountain views, this property presents a rare chance to capitalize on the area's remarkable growth. The site is zoned for Form-Based Zoning – Central Sector (FBZ CEN) with no height limit, allowing for significant development potential. Its prime location provides exceptional visibility from I-25, with over 130,000 vehicles passing daily. Furthermore, the property enjoys proximity to major attractions including the America the Beautiful Park (a 2-minute walk), the Pikes Peak Greenway Trail, the Pikes Peak Center for the Performing Arts, the U.S. Olympic & Paralympic Museum (one block away), and Weidner Field soccer stadium (three blocks away). The surrounding area features a thriving mix of businesses, including over 70 retail shops, 130+ restaurants, and numerous entertainment venues, attracting 11.86 million annual visitors. The low mill levy (64.762) and potential for property tax abatement through the Downtown Development Authority further enhance the investment appeal. With over $2 billion in recent and planned investments in downtown Colorado Springs, and a strong entrepreneurial spirit evidenced by 482 new business filings in 2022, this site represents a truly unique opportunity for significant return. The high concentration of renters (60% within one mile) also presents a strong potential for multifamily development. This is a truly exceptional opportunity to be part of Colorado Springs' continued downtown revitalization.

    Property Features for 120 Sahwatch St

    General Information

    Property type
    Multifamily properties
    Lot Size
    100,188 SF

    We can help!

    Listing Contact
    Gary Feffer

    Learn more

    Property Insight Report

    HighLights

    • Opportunity Zone designation.
    • Rare downtown Colorado Springs development site.
    • Low mill levy (64.762).
    • Potential property tax abatement via Downtown Development Authority.
    • Unobstructed mountain views.
    • Two‑minute walk to America the Beautiful Park (17 acres) and Pikes Peak Greenway Trail (27 miles).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Law Firm Nail Salon

    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
    -104.827632
    Latitude
    38.8315222

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    FAQs

    What type of property is this?
    Multifamily property - Prime 2.3-acre mixed-use opportunity
    Where is this multifamily property located?
    The property is located at 120 Sahwatch St Colorado Springs, CO.
    What are key features of this property?
    This property features: Opportunity Zone designation.; Rare downtown Colorado Springs development site.; Low mill levy (64.762).
    Request Owner's contact information
    120 Sahwatch St Colorado Springs, CO 80903
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    Colorado Springs, CO 80903
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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.

    More about this property
    120 Sahwatch St Colorado Springs, CO 80903
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    We can help!
    Listing Contact
    Gary Feffer
    Real Estate License ID: CO 000967125
    Learn more
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