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

    12229 Voyager Pkwy Colorado Springs, CO 80921-3601

    • Strip malls
    • 10,072 SF
    • 1.26 lot acres
    OFF-MARKET
    Value Estimations
    $1,445,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0836297
    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

    • FYZICAL Therapy & Balance Centers / Physician
    • The Living Room / Garden Center / Landscaping
    • Zapata Mexican Taco Shop / Restaurant
    • Haley Mcdaniel / Physician
    • Taste of Philly / Restaurant

    Property Details for 12229 Voyager Pkwy

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.26 lot acres
    Property size
    10,072 SF
    Zone code
    PBC CU
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    6217203033
    APU
    6217203033

    Description

    This exceptional 2,136 square foot retail space is ideally situated in the bustling Northgate Village shopping center in Colorado Springs, Colorado. Located at 12229 Voyager Parkway, zip code 80921, this single-tenant property offers unparalleled visibility from Voyager Parkway and convenient access for customers. The property is categorized as a retail space, specifically a shopping center and restaurant space, within El Paso County. Its prime location within Northgate Village benefits from significant foot traffic and high visibility, surrounded by established and successful businesses such as Sushi Ato, Zapatos, The Parkway Tavern, Goat Patch Brewery, Mail Stop, Coffee Zone, and Fyzical Therapy & Balance Centers. This vibrant shopping and dining destination serves a rapidly expanding community in the Northeast Corridor of Colorado Springs, ensuring a strong customer base and high potential for success. The property's single-tenant occupancy provides a straightforward and manageable investment opportunity. This location presents a unique chance to establish or expand a retail business in a thriving and well-established commercial area. The property's size and location make it suitable for a variety of retail concepts.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.807
    Latitude
    39.0099
    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
    $43,523
    $219,740
    $484,030
    $703,770
    -
    $787,600
    $1,734,875
    $2,522,475

    Comparable in this City

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      13860 Gleneagle Dr

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    • Value Estimation
      $1,985,000
      3,600 SF

      13465 Voyager Pkwy

      SHOPPING CENTER, STRIP CENTER • 3,600 SF
      13465 Voyager Pkwy, Colorado Springs, CO 80921-7679
      View Details
    • Value Estimation
      $1,735,000
      13,325 SF

      1268 Interquest Pkwy

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      1268 Interquest Pkwy, Colorado Springs, CO 80921-4208
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    • Value Estimation
      $2,195,000
      17,920 SF

      11590 Ridgeline Dr

      SHOPPING CENTER, STRIP CENTER • 17,920 SF
      11590 Ridgeline Dr, Colorado Springs, CO 80921-3967
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    • Value Estimation
      $5,110,000
      9,100 SF

      13492 Bass Pro Dr

      SHOPPING CENTER, STRIP CENTER • 9,100 SF
      13492 Bass Pro Dr, Colorado Springs, CO 80921-3852
      View Details
    • Value Estimation
      $1,635,000
      9,050 SF

      162 Tracker Dr

      SHOPPING CENTER, STRIP CENTER • 9,050 SF
      162 Tracker Dr, Colorado Springs, CO 80921-1005
      View Details

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      Retail Space Near Voyager Parkway

      Retail suite in high-traffic area near major amenities.
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      View Details
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    Colorado Springs, CO 80921-3601
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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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