Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6809 Space Village Ave Colorado Springs, CO 80915

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6809 Space Village Ave Colorado Springs, CO 80915

    View on Map
    • Lifestyle centers
    • 14,182 SF
    • 1.97 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 6809 Space Village Ave

    Year built
    1986
    Lot size
    1.97 lot acres
    Property size
    14,182 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Peterson Square, located at 6809 Space Village Ave, Colorado Springs, CO 80915, presents a compelling investment opportunity. This 14,182 square foot, multi-tenant retail center sits on a 1.97-acre lot and boasts 102 parking spaces. Built in 1986 and renovated in 2012, the property features nine units and is zoned AO CAD. The property is offered as a fee simple ownership with an absolute NNN lease structure, providing a stable income stream. The asking price is $6,375,000, representing a 7.10% cap rate and a NOI of $452,644. Recent improvements include a new monument sign and restriped parking lot. The property benefits from its strategic location adjacent to the North Gate of Peterson Space Force Base, serving over 45,000 military and civilian personnel. This prime location, coupled with significant recent development in the surrounding area including new residential, retail, and a sports complex, ensures strong demand and potential for future growth. The Colorado Springs MSA has experienced robust population growth (18.6% in the last decade), further supporting the property's investment potential. Lease options and rent bumps are available. This property offers a unique opportunity to acquire a well-maintained, high-performing retail center in a rapidly growing market. The property's proximity to Peterson Space Force Base, combined with the ongoing development in the surrounding area, makes it an attractive investment for those seeking strong returns and long-term growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.7
    Latitude
    38.8382

    Comparable in this City

    • Value Estimation by Request
      16,080 SF

      945-955 Galley Rd

      Neighborhood centers • 16,080 SF
      945-955 Galley Rd, Colorado Springs, CO 80915
      View Details
    • Value Estimation
      $1,655,000
      9,421 SF

      5825 Constitution Ave

      SHOPPING CENTER, STRIP CENTER • 9,421 SF
      5825 Constitution Ave, Colorado Springs, CO 80915-1216
      View Details
    • Value Estimation
      $3,120,000
      30,740 SF

      5849 Palmer Park Blvd, Unit 5883

      SHOPPING CENTER, STRIP CENTER • 30,740 SF
      5849 Palmer Park Blvd, Colorado Springs, CO 80915-1611
      View Details
    • Value Estimation
      $4,100,000
      18,012 SF

      521 Murray Blvd

      SHOPPING CENTER, STRIP CENTER • 18,012 SF
      521 Murray Blvd, Colorado Springs, CO 80915-3403
      View Details
    • Value Estimation
      $1,075,000
      6,045 SF

      5746 Palmer Park Blvd

      SHOPPING CENTER, STRIP CENTER • 6,045 SF
      5746 Palmer Park Blvd, Colorado Springs, CO 80915-1511
      View Details
    • Value Estimation
      $820,000
      6,250 SF

      6870 Galley Rd

      SHOPPING CENTER, STRIP CENTER • 6,250 SF
      6870 Galley Rd, Colorado Springs, CO 80915-3898
      View Details

    Similar Nearby for Sale

    • $990,000
      1,672 SF

      Retail Opportunity on Galley Road

      Versatile retail space with high visibility and ample parking.
      4825 Galley Rd, Colorado Springs, CO 80915
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Space Force

      Retail space with highway exposure near Peterson Space Force Base.
      6819 Space Village Ave, Colorado Springs, CO 80915
      View Details
    • Contact for pricing
      5,100 SF

      Powers Blvd Commercial Property

      High-visibility commercial property on Powers Blvd, Colorado Springs.
      1480 Ainsworth St, Colorado Springs, CO 80915
      View Details
    • $4,406,400
      24,480 SF

      Waynoka Road Warehouse - Colorado Springs

      24,480 SF Warehouse, $4.4M, I-2 Zoning
      2265 Waynoka Rd, Colorado Springs, CO 80915
      View Details
    • Contact for pricing

      Ainsworth Street Vacant Commercial Lot

      Vacant lot on Ainsworth Street with diverse commercial zoning.
      1250 Ainsworth St, Colorado Springs, CO 80915
      View Details
    • Contact for pricing
      3,600 SF

      Industrial Property with Outdoor Storage

      Industrial warehouse with outdoor storage in active Colorado Springs submarket.
      777 Conrad St, Colorado Springs, CO 80915
      View Details

    Similar Nearby for Lease

    • $2,100 /Mo
      1,000 SF

      Retail Space on Peterson Road

      1,000 SF retail space suitable for restaurant or coffee shop.
      640-660 Peterson Rd, Colorado Springs, CO 80915
      View Details
    • Contact for pricing
      2,154 SF

      Retail Space in Colorado Springs

      Retail space for lease in a high-exposure Colorado Springs location.
      5855-5961 Constitution Ave, Colorado Springs, CO 80915
      View Details
    • Contact for pricing
      3,600 SF

      Retail Center on Palmer Park

      Retail spaces available in lively Eastern Colorado Springs center.
      5879-5883 Palmer Park Blvd, Colorado Springs, CO 80915
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Available For Lease

      Retail space available for lease in Colorado Springs, CO.
      1445-1469 S Murray Blvd, Colorado Springs, CO 80915
      View Details
    • Contact for pricing

      Retail Center on Palmer Park

      Retail spaces available in lively Eastern Colorado Springs center.
      5879 Palmer Park Blvd, Colorado Springs, CO 80915
      View Details
    • $26 SF/Yr
      640 SF

      Retail Space in Established Hub

      Well-maintained retail spaces suitable for various businesses in thriving location.
      5705-5743 Constitution Ave, Colorado Springs, CO 80915
      View Details
    Request Owner's contact information
    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.
    6809 Space Village Ave
    Colorado Springs, CO 80915
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!