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

    117 Nevada Ave Colorado Springs, CO 80903-1905

    • Distribution centers
    • 12,763 SF
    • 0.62 lot acres
    OFF-MARKET
    Value Estimations
    $2,565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0532038
    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

    • SP+ Parking / Parking Garage
    • Tayco Screen Printing & Embroidery / Screen Printer / Embroidery Shop
    • Tayco Screen Printing Inc. / Screen Printer
    • Total Theatre / Home Audio Store / Home Theater Store

    Property Details for 117 Nevada Ave

    Year built
    1933
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.62 lot acres
    Property size
    12,763 SF
    Zone code
    FBZ-CEN
    Property type
    Distribution centers
    APN
    6418404027
    APU
    6418404027

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,345,000
      6.5%
      $2,165,000
      7%
      $2,010,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,438,000
      Market price range: $1.53M - $3.21M
      AI Estimate
      $3,094,000
      Market price range: $553k - $5.23M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,100,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,400,000
      Change: +62% Conversion: Moderate
      OFFICE BUILDING
      $3,180,000
      Change: +52% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,140,000
      Change: +50% Conversion: Easy
      MEDICAL BUILDING
      $3,070,000
      Change: +46% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.821
    Latitude
    38.8317
    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
    $33,886
    $259,740
    $271,660
    $531,400
    -
    $930,953
    $973,697
    $1,904,650

    Comparable in this City

    • Value Estimation
      $965,000
      10,135 SF

      22 Sierra Madre St

      DISTRIBUTION WAREHOUSE • 10,135 SF
      22 Sierra Madre St, Colorado Springs, CO 80903-3311
      View Details
    • Value Estimation
      $525,000
      5,000 SF

      125 Costilla St

      DISTRIBUTION WAREHOUSE • 5,000 SF
      125 Costilla St, Colorado Springs, CO 80903
      View Details
    • Value Estimation by Request
      2,688 SF

      17 Las Vegas St

      DISTRIBUTION WAREHOUSE • 2,688 SF
      17 Las Vegas St, Colorado Springs, CO 80903-4217
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    • Value Estimation by Request
      1,756 SF

      547 Cimarron St

      DISTRIBUTION WAREHOUSE • 1,756 SF
      547 Cimarron St, Colorado Springs, CO 80903-4434
      View Details
    • Value Estimation
      $1,920,000
      10,599 SF

      30 Costilla St

      DISTRIBUTION WAREHOUSE • 10,599 SF
      30 Costilla St, Colorado Springs, CO 80903-3812
      View Details
    • Value Estimation
      $1,585,000
      11,195 SF

      548 Costilla St

      DISTRIBUTION WAREHOUSE • 11,195 SF
      548 Costilla St, Colorado Springs, CO 80903-3763
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,250 SF

      Colorado Springs Warehouse - 9,100 SF

      Prime industrial warehouse, excellent location, 5 loading docks.
      535 Cimarron St, Colorado Springs, CO 80903
      View Details
    • $850,000
      5,800 SF

      Industrial Property in Colorado Springs

      Industrial property with 5,800 square feet available for sale.
      210 N Corona St, Colorado Springs, CO 80903
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    • $2,200,000
      17,218 SF

      Functional Industrial Facility For Sale

      17,218 SF industrial property with warehouse, office, and showroom space.
      815 S Sierra Madre St, Colorado Springs, CO 80903
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    • Contact for pricing
      13,250 SF

      Industrial Building Near Downtown

      Industrial building suitable for warehousing, manufacturing, or assembly.
      535 E Cimarron St, Colorado Springs, CO 80903
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    • $850,000

      Free Standing Warehouse Building

      Warehouse building with C-6 zoning and great visibility.
      222 E Moreno Ave, Colorado Springs, CO 80903
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    • $4,176,000
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      Industrial Property in Opportunity Zone

      12,017 SF industrial building in an Enterprise Zone.
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    Similar Nearby for Lease

    • $17 SF/Yr
      1,800 SF

      Downtown Office/Flex Space Available

      Office/flex space with warehouse in a prime downtown location.
      102 W Colorado Ave, Colorado Springs, CO 80903
      View Details
    • Contact for pricing
      8,914 SF

      Downtown Warehouse with Fenced Yard

      Warehouse with dock, overhead door, and convenient downtown access.
      127 W Colorado Ave, Colorado Springs, CO 80903
      View Details
    • $11 SF/Yr
      16,000 SF

      Warehouse with Drive-Through Access

      16,000 SF warehouse featuring drive-through and ample parking.
      415 W Pikes Peak Ave, Colorado Springs, CO 80903
      View Details
    • Contact for pricing
      6,400 SF

      Industrial Space Available For Rent

      Industrial property offering 6,400 square feet for lease.
      514-524 S Sierra Madre St, Colorado Springs, CO 80903
      View Details
    • Contact for pricing
      8,760 SF

      Industrial Space Available For Lease

      Industrial property with 8,760 square feet available for lease.
      211-215 W Cimarron St, Colorado Springs, CO 80903
      View Details
    • $16 SF/Yr
      46,952 SF

      Downtown Colorado Springs Office Space

      Executive Suites, Prime Location, Mountain Views
      101 Cascade Ave, Colorado Springs, CO 80903
      View Details
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    117 Nevada Ave
    Colorado Springs, CO 80903-1905
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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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