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    Hwy 115 & Norad Rd Colorado Springs, CO 80906

    Sponsored
    For Sale
    $5,000,000

    110 Acres, $5M, A-5 Zoning

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 110.39-acre commercial land parcel presents a significant investment opportunity in Colorado Springs, Colorado. Located at the intersection of Hwy 115 and Norad Rd, with a zip code of 80906, this property boasts a strategic location and substantial development potential. The land is zoned A-5 (El Paso County), offering flexibility for a variety of uses. Potential development options include single-family, multi-family, or senior housing projects, subject to necessary approvals and permits. The asking price is $5,000,000, translating to approximately $45,294 per acre. The expansive 4,813,559 square foot lot provides ample space for large-scale development. While there is an existing structure on the property, built in 1940, with a building size of 1,600 square feet and two floors, the primary value lies in the significant land area. The price per square foot of the existing building is $1.04. This property is ideal for developers seeking a substantial land holding in a rapidly growing area of Colorado Springs. Serious inquiries only.

    Property Features for 0 Hwy 115 & Norad Rd

    General Information

    Property type
    Land
    Lot Size
    4,808,588 SF

    HighLights

    • 110.39‑acre land parcel.
    • A‑5 zoned land (El Paso County).
    • Potential uses: single‑family, multi‑family, senior housing.
    • $5,000,000 asking price.
    • 4,813,559 square feet of land.
    • 1940 construction.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.8118296
    Latitude
    38.7573649

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    FAQs

    What type of property is this?
    Land - 110 Acres, $5M, A-5 Zoning
    Where is this land located?
    The property is located at Hwy 115 & Norad Rd Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: 110.39-acre land parcel.; A-5 zoned land (El Paso County).; Potential uses: single-family, multi-family, senior housing.
    (719) 577-0044
    Request Owner's contact information
    Hwy 115 & Norad Rd Colorado Springs, CO 80906
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    Colorado Springs, CO 80906
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    Realmo Value Estimation

    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.

    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.

    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
    Hwy 115 & Norad Rd Colorado Springs, CO 80906
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