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

    1415 8th St Colorado Springs, CO 80905-7322

    • Office buildings
    • 1,445 SF
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Jul 25, 2022
    $193,000
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    6.8%
    Office buildings
    Location Intelligence
    Property ID
    US13-0346883
    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

    • Farmers Insurance - Robert Yoswa / Auto Insurance Agency / Home Insurance Agency
    • Avis Car Rental / Van Rental Agency / Car Rental Agency
    • Budget Car Rental / Car Rental Agency / Van Rental Agency

    Property Details for 1415 8th St

    Year built
    1957
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.40 lot acres
    Property size
    1,445 SF
    Zone code
    C5 CU
    Property type
    Office buildings
    APN
    7424409011
    APU
    7424409011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $225,000
      ML approach
      $220,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $255,000
      6.5%
      $235,000
      7%
      $215,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $261,000
      Market price range: $86.9k - $266k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $310,000
      Current use
      AUTO REPAIR, GARAGE
      $355,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $350,000
      Change: +13% Conversion: Easy
      RETAIL STORES
      $305,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.841
    Latitude
    38.8132
    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
    $4,938
    $54,550
    $43,940
    $98,490
    -
    $195,513
    $157,493
    $353,006

    Comparable in this City

    • Value Estimation
      $350,000
      2,845 SF

      1730 8th St

      OFFICE BUILDING • 2,845 SF
      1730 8th St, Colorado Springs, CO 80905-1927
      View Details
    • Value Estimation
      $325,000
      4,022 SF

      911 8th St

      OFFICE BUILDING • 4,022 SF
      911 8th St, Colorado Springs, CO 80905-7342
      View Details
    • Value Estimation
      $375,000
      2,820 SF

      913 8th St

      OFFICE BUILDING • 2,820 SF
      913 8th St, Colorado Springs, CO 80905-7318
      View Details
    • Value Estimation
      $320,000
      2,473 SF

      915 8th St

      OFFICE BUILDING • 2,473 SF
      915 8th St, Colorado Springs, CO 80905-7318
      View Details
    • Value Estimation
      $405,000
      4,000 SF

      218 Limit St

      OFFICE BUILDING • 4,000 SF
      218 Limit St, Colorado Springs, CO 80905-1625
      View Details
    • Value Estimation
      $330,000
      4,000 SF

      414 Pike Peak Ave

      OFFICE BUILDING • 4,000 SF
      414 Pike Peak Ave, Colorado Springs, CO 80905-1525
      View Details

    Similar Nearby for Sale

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      4,563 SF office/medical property in Colorado Springs for sale.
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      Broadmarket Square Office Building

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      Office/medical condo in central Colorado Springs with versatile layout.
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    • $374,900

      Private Lot Backing Bear Creek

      Unique lot with city and mountain views near Bear Creek.
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    • $2,300,000
      6,055 SF

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      Turnkey 14-unit property near downtown and I-25.
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    Similar Nearby for Lease

    • $350 /Mo
      500 SF

      Colorado Springs Office Space Available

      Two-story office building with executive spaces for lease.
      1757 S 8Th St, Colorado Springs, CO 80905
      View Details
    • Contact for pricing

      Westside Colorado Springs Commercial Space

      Commercial space with fenced yard and office, convenient I-25 access.
      421 East Arvada St, Colorado Springs, CO 80905
      View Details
    • $15 SF/Yr
      9,656 SF

      Raintree Business Center: Downtown Office Suites

      Colorado Springs executive office space, 3 suites available.
      332 Bijou St, Colorado Springs, CO 80905
      View Details
    • $675 /Mo
      150 SF

      Small Office Space For Rent

      150 SF office space with shared amenities available for rent.
      1753 S 8Th St, Colorado Springs, CO 80905
      View Details
    • $1,700 /Mo
      1,020 SF

      Move-in Ready Office Space

      Office space for lease with 8th Street frontage.
      1763 S 8Th St, Colorado Springs, CO 80905
      View Details
    • Contact for pricing
      16,426 SF

      Colorado Springs Industrial Space Available

      Industrial property available for lease in Colorado Springs, Colorado.
      1440 Pando Ave, Colorado Springs, CO 80905
      View Details

    Property Visit Statistics

    • Visits by month
      881
    • Visitors by month
      957
    • Avg Time on site
      13 min
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    Colorado Springs, CO 80905-7322
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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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