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Property profile & analytics
OFF-MARKET
Estimated value
$12,260,000
Investment properties
111 Cimarron St Colorado Springs, CO 80903-3810
Individually Owned
5-yr Hold
Free & Clear
Property ID
US13-1344314
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2020
Construction
STEEL FRAME
Total area
42,968 SF
Lot
4.53 ac (197,327 SF)
Zoning code
FBZ-CEN
APN
6418324038
UPID
US13-1344314
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Carpenter Law & Mediation, PC Law Firm
-
Weidner Field Sports Field & Court
-
Switchbacks Front Office Corporate Office
-
Switchbacks Stadium Sports Field & Court
-
Carpenter & Cassens Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.38M
Comparable Approach
Comparable
$12.15M
Blend (final)
Blend
$12.26M
Owner & transaction history
Stadium Metropolitan District · 5 yrs held
Stadium Metropolitan District
since 2021
1 recorded transaction
Zoning & alternative use
FBZ-CEN · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
$1e
Zone name
Form Based Central
General category
UNKNOWN
Zone area
272.36 ac
Source
Realmo
Top alternative use upside
Restaurant
$18.8M
+13.8%
Apartment house (5+ units)
$17.5M
+6.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Colorado Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Colorado Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$7,990,000
6.5%
$7,375,000
7%
$6,850,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$16,530,000
Current use
RESTAURANT
$18,805,000
Change: +14% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$17,540,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$12.26M
Range $11.03M – $13.49M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$285 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$9,701,010
Assessed 2023
Previous assessed
$9,701,010
+0.0% YoY
Assessed land
$1,057,040
Assessed improvement
$8,643,970
Land market value
$3,788,659
Improvement market value
$30,981,978
Total market value
$34,770,637
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2020
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
3
Total area
42,968 SF
Lot
4.53 ac (197,327 SF)
Zoning code
FBZ-CEN
APN
6418324038
UPID
US13-1344314
Jurisdiction
EL PASO
Zoning & alternative use
FBZ-CEN · Colorado Springs, COZoning FBZ-CEN · permitted uses
FBZ-CEN · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
$1e
Zone name
Form Based Central
General category
UNKNOWN
Zone area
272.36 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$16.5M
RESTAURANT
Est. value
$18.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$17.5M
COMMERCIAL (GENERAL) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2020
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
3
Buildings
2
Lot
4.53 ac
Current owner
From public records · entity-resolved
Stadium Metropolitan District
Individual
Free & Clear · 5 yrs held
Mailing address
1700 N LINCOLN ST STE #2000, DENVER, CO 80203-4554
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2021
—
Stadium Metropolitan District
Switchbacks Entertainments LLC
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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