Technical
Financial
Distress signals
Property profile

123 Manitou Ave Manitou Springs, CO 80829

OFF-MARKET
Motels
Property ID
US13-0867495
2,494 SF 2.18 ac lot Built 1937
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 2.18-acre commercial land parcel presents a rare development opportunity in Manitou Springs, Colorado. Located at 123 Manitou Ave, this highly visible site boasts a prime location between the Broadmoor and Garden of the Gods neighborhoods, benefiting from significant daily traffic along Highway 24 and Manitou Avenue. The property is zoned C-Commercial, allowing for diverse development options. Environmental remediation is complete, and the site has been rough-graded. Utilities, including water (two existing service lines), sewer, gas, and electricity, are stubbed to the property. Two existing curb cuts on Manitou Avenue provide convenient access. The property also includes two existing monument signs, one on Manitou Avenue and a grandfathered sign on Highway 24, offering significant advertising potential. The owner is open to various transaction structures, including ground lease (preferred), build-to-suit, or outright sale. The parcel may be considered for division. This is an unparalleled chance to capitalize on a highly desirable location with significant infrastructure already in place. Buyer or lessee is responsible for verifying site conditions. APN: 7404411024.

Property profile

Verified
Property type Motels
Use group MOTEL
Year built 1937
Construction WOOD FRAME
Total area 2,494 SF
Lot 2.18 ac (94,961 SF)
Zoning code C
APN 7404411024
UPID US13-0867495

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

123 Manitou Ave Manitou Springs, CO 80829-2426
Manitou Springs metro Census 6702 COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.59M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.58M

Owner & transaction history

since 2022
Last sale
$2.6M
6 recorded transactions
2022
$2.6M
2019
$1.9M
2018
$1.5M
2005
Price N/A
2000
Price N/A
1969
Price N/A

Zoning & alternative use

C · Manitou Springs, CO
Zoning description

Commercial (C) . A. Purpose. The Commercial Zone District is characterized by commercial, office, and multi-unit mixed-use residential uses that are an integral part of the City's ability to provide a diverse range of es…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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