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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Retail space
1431 Colorado Ave Colorado Springs, CO 80904-4112
Entity Owned
1-yr Hold
Free & Clear
Property ID
US13-0333705
Property summary
AI-generated overview
This exceptional 8,456 square foot retail and office building, situated on a 0.34-acre lot at 1431 W Colorado Ave in Colorado Springs, CO 80904, presents a unique investment opportunity. Built in 1945, this single-story Class C property boasts a prime location at the corner of W Colorado Ave and S 15th Street in the Westside submarket. Currently, 2,330 square feet are vacant, including a recently renovated 1,850 square foot space perfect for a storefront retail business or office use. The building features 21 total parking spaces, a highly desirable amenity in this area. The C5 zoning allows for a variety of uses. The property's convenient location and ample parking make it an attractive option for businesses seeking high visibility and accessibility. With its strong location and recent renovations, this property offers significant potential for growth and return on investment. The property's APN is 7413206024, and it's located in El Paso County. This free-standing building offers a unique opportunity to establish a thriving business in a vibrant Colorado Springs neighborhood.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,656 SF
Lot
0.34 ac (15,000 SF)
Zoning code
C5
APN
7413206024
UPID
US13-0333705
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
-
Old Colorado City Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Mass Multimedia Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$820k
CAP Approach
CAP
$860k
Comparable Approach
Comparable
$782k
Blend (final)
Blend
$800k
Owner & transaction history
1431 Westco LLC · 1 yrs held
1431 Westco LLC
since 2024
2 recorded transactions
Zoning & alternative use
C5 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.2M
+42.2%
Auto repair, garage
$1.1M
+31.3%
Medical building
$1.1M
+28.3%
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
$800,000
ML approach
$820,000
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$860,000
7%
$800,000
Alternative Use
Use
Estimation
RETAIL STORES
$875,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,240,000
Change: +42% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,145,000
Change: +31% · Conversion: Difficult
MEDICAL BUILDING
$1,120,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$995,000
Change: +14% · Conversion: Easy
WAREHOUSE, STORAGE
$915,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$172 / 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
Tax billed
$9,905
Tax year 2023
Assessed value
$189,160
Assessed 2023
Previous assessed
$189,160
+0.0% YoY
Effective rate
5.24%
On assessed value
Assessed land
$36,620
Assessed improvement
$152,540
Land market value
$131,250
Improvement market value
$546,728
Total market value
$677,978
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Total area
4,656 SF
Lot
0.34 ac (15,000 SF)
Zoning code
C5
APN
7413206024
UPID
US13-0333705
Jurisdiction
EL PASO
Zoning & alternative use
C5 · Colorado Springs, CO
Zoning C5 · permitted uses
C5 · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Colorado Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$875,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
OFFICE BUILDING
Est. value
$995,000
WAREHOUSE, STORAGE
Est. value
$915,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
1431 Westco LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1431 W COLORADO AVE, COLORADO SPRINGS, CO 80904-4112
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2024
—
1431 Westco LLC
Kevin O Heinicke
Special Warranty Deed
—
Dec 18, 2023
$819,500
Kevin O Heinicke
Massey Properties LLC
Warranty Deed
$573,650 · Independent Bank
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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