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    Fillmore St & Centennial Blvd Colorado Springs, CO 80907

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    Fillmore St & Centennial Blvd Colorado Springs, CO 80907

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    • Land
    • 18.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Fillmore St & Centennial Blvd

    Lot size
    18.00 lot acres
    Property type
    Land

    Description

    This exceptional 18-acre development site, located at the intersection of Fillmore Street and Centennial Boulevard in Colorado Springs, CO 80907, presents a unique investment opportunity. Zoned as Planned Unit Development (PUD), this property offers significant potential for a variety of commercial or residential projects. The elevated site boasts panoramic city views and excellent access and visibility to I-25, ensuring high traffic exposure. Its prime location is less than five minutes from the Central Business District and the renowned Garden of the Gods corridor, providing convenient access to key amenities and attractions. The recently opened Centennial Extension to Fontanero further enhances connectivity and accessibility. The property includes multiple APNs: 7336200020, 7336204007, 7336204006, and 7336200018. Nearby amenities at the Grandview Marketplace add to the site's appeal. The asking price for this remarkable development opportunity is $18,033,840. This infill land parcel represents a rare chance to capitalize on Colorado Springs' thriving real estate market and create a landmark development. The property's strategic location, combined with its size and zoning, makes it an ideal choice for developers seeking a high-impact project. Don't miss this chance to acquire a truly exceptional piece of Colorado Springs real estate.

    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
    -104.847
    Latitude
    38.8762

    Comparable in this City

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      Tract

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      1.00 Acre

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    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      1510 Garden Of The Gods Rd, Colorado Springs, CO 80907
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      Ready to Build Platted Land

      Platted land near parks, trails, and shopping.
      415 W Van Buren St, Colorado Springs, CO 80907
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      Land for Lease

      Land available for lease in Colorado Springs.
      1510 Garden Of The Gods Rd, Colorado Springs, CO 80907
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    • $150,000

      Ready to Build Land Location

      Newly platted land near parks, trails, and amenities.
      415 West Van Buren St, Colorado Springs, CO 80907
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    • $65,000
      0.12 Acres

      Commercial Land in Established Office Complex

      Commercial land for development in a thriving Colorado Springs office complex.
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      Developed Site with I-25 Access

      Developed site with excellent access and visibility to I-25.
      Fillmore St & Centennial Blvd, Colorado Springs, CO 80907
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    Similar Nearby for Lease

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      3,861 SF

      Land for Ground Lease

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      Land for Ground Lease

      Ground lease opportunity on S Nevada Avenue, Colorado Springs.
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      980 Elkton Creative Office Space

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      Class A Medical Office Campus

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      Centennial Blvd Retail Space

      Retail spaces available for lease on Centennial Boulevard.
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      Retail Space in Westwind Marketplace

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    Colorado Springs, CO 80907
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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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