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    Property profile & analytics

    1431 Colorado Ave Colorado Springs, CO 80904-4112

    • Retail space
    • 4,656 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Aug 22, 2024
    Value Estimations
    $795,000
    Show details
    Cap Rate Potential
    7%
    Retail space
    Location Intelligence
    Property ID
    US13-0333705
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Old Colorado City Liquor / Liquor Store
    • Mass Multimedia / Advertising Agency / Computer Store

    Property Details for 1431 Colorado Ave

    Year built
    1945
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.34 lot acres
    Property size
    4,656 SF
    Zone code
    C5
    Property type
    Retail space
    APN
    7413206024
    APU
    7413206024

    Description

    This exceptional 8,456 square foot retail and office building, situated on a 0.34-acre lot at 1431 W Colorado Ave in Colorado Springs, CO 80904, presents a unique investment opportunity. Built in 1945, this single-story Class C property boasts a prime location at the corner of W Colorado Ave and S 15th Street in the Westside submarket. Currently, 2,330 square feet are vacant, including a recently renovated 1,850 square foot space perfect for a storefront retail business or office use. The building features 21 total parking spaces, a highly desirable amenity in this area. The C5 zoning allows for a variety of uses. The property's convenient location and ample parking make it an attractive option for businesses seeking high visibility and accessibility. With its strong location and recent renovations, this property offers significant potential for growth and return on investment. The property's APN is 7413206024, and it's located in El Paso County. This free-standing building offers a unique opportunity to establish a thriving business in a vibrant Colorado Springs neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $800,000
      ML approach
      $820,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $935,000
      6.5%
      $860,000
      7%
      $800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $781,000
      Market price range: $734k - $1.01M
      AI Estimate
      $607,000
      Market price range: $269k - $970k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.848
    Latitude
    38.8384
    CBSA code
    17820
    CBSA name
    COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,905
    $36,620
    $152,540
    $189,160
    -
    $131,250
    $546,728
    $677,978

    Comparable in this City

    • Value Estimation
      $260,000
      960 SF

      1686 21st St

      RETAIL STORES (PERSONAL SERVICES) • 960 SF
      1686 21st St, Colorado Springs, CO 80904-4262
      View Details
    • Value Estimation
      $270,000
      697 SF

      3440 Colorado Ave

      RETAIL STORES (PERSONAL SERVICES) • 697 SF
      3440 Colorado Ave, Colorado Springs, CO 80904
      View Details
    • Value Estimation by Request
      2,475 SF

      1023 Colorado Ave

      Individual retail properties • 2,475 SF
      1023 Colorado Ave, Colorado Springs, CO 80904
      View Details
    • Value Estimation
      $300,000
      5,031 SF

      2524 Colorado Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,031 SF
      2524 Colorado Ave, Colorado Springs, CO 80904-3023
      View Details
    • Value Estimation
      $980,000
      6,000 SF

      2222 Colorado Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      2222 Colorado Ave, Colorado Springs, CO 80904-3325
      View Details
    • Value Estimation
      $430,000
      2,625 SF

      2413 Colorado Ave, Unit 101

      RETAIL STORES (PERSONAL SERVICES) • 2,625 SF
      2413 Colorado Ave, Colorado Springs, CO 80904-3021
      View Details

    Similar Nearby for Sale

    • $1,056,000
      3,299 SF

      Old Colorado City Retail Condo

      Historic storefront, prime location
      2411 Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $540,000
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      Prime Commercial Space For Sale

      2,120 SF commercial space in high-demand west side market.
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    • $850,000
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      Retail Condo in Old Colorado

      3,299 SF retail condo in historic Old Colorado City.
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    • Contact for pricing

      Versatile Commercial Space For Sale

      Showroom/office/retail space with overhead doors and easy access.
      1008 N 19Th St, Colorado Springs, CO 80904
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    • $750,000
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      Retail Storefront in Old Colorado

      Highly visible retail space in a vibrant, high-traffic location.
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    • $1,635,000

      West Colorado Springs Mixed-Use Building

      Renovated mixed-use building with retail, office, apartments, and parking.
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    Similar Nearby for Lease

    • $19 SF/Yr
      900 SF

      Retail Space in Old Colorado

      Retail space with high visibility in a prime location.
      2628 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $2,400 /Mo
      1,000 SF

      Charming Retail/Office Space in Colorado

      Street-level retail/office with high visibility in Old Colorado City.
      2627 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $25 SF/Yr
      1,200 SF

      Commercial Space in Old Colorado

      Retail/office space with apartment in high-traffic location.
      2702 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $13 SF/Yr
      1,800 SF

      Retail Space with Shop Area

      Retail space featuring a shop area and small office.
      1361 Pecan St, Colorado Springs, CO 80904
      View Details
    • $12 SF/Yr
      1,500 SF

      Retail or Office Space Available

      1,500 SF retail/office space near Gold Hill Mesa development.
      1410 S 21St St, Colorado Springs, CO 80904
      View Details
    • Contact for pricing
      4,200 SF

      Retail Spaces with Immediate Occupancy

      Retail spaces available for lease, including a tap room.
      3107-3141 W Colorado Ave, Colorado Springs, CO 80904
      View Details
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    1431 Colorado Ave
    Colorado Springs, CO 80904-4112
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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
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