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Property profile & analytics
FOR LEASE
Strip malls
1524 N Circle Dr Colorado Springs, CO 80909
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US13-0852752
For Lease
1 / 19
$12 SF/Yr
1524 N Circle Dr, Colorado Springs, CO 80909
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,970 SF
Lot
0.49 ac (21,165 SF)
Zoning code
PBC
APN
6404415013
UPID
US13-0852752
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
1524 N Circle LLC · 3 yrs held
1524 N Circle LLC
since 2023
6 recorded transactions
Zoning & alternative use
PBC · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,375,000
6.5%
$1,270,000
7%
$1,180,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,590,000
Current use
MEDICAL BUILDING
$1,435,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±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
$180 / 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
Assessed value
$279,760
Assessed 2023
Previous assessed
$279,760
+0.0% YoY
Assessed land
$33,950
Assessed improvement
$245,810
Land market value
$121,699
Improvement market value
$881,040
Total market value
$1,002,739
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Total area
5,970 SF
Lot
0.49 ac (21,165 SF)
Zoning code
PBC
APN
6404415013
UPID
US13-0852752
Jurisdiction
EL PASO
Zoning & alternative use
PBC · Colorado Springs, CO
Zoning PBC · permitted uses
PBC · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
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
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
1524 N Circle LLC
Entity
Mailing address
PO BOX 6181, COLORADO SPRINGS, CO 80934-6181
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2023
—
1524 N Circle LLC
Ralph J Lechner
Quitclaim Deed
related
—
Nov 3, 2022
—
Ralph Lechner
—
Deed
related
$220,000 · Helen Lechner
May 3, 2021
$857,500
Ralph J Lechner
M A Mason Partners LLP
Warranty Deed
$173,866 · Ralph J Lechner Etal
May 3, 2021
—
1524 N Circle LLC
—
Deed
related
$687,500 · Ma Mason Partners LLP
Jul 30, 2002
—
M A Mason Partners LLP
Jardon,robert H & Nanci D
Quit Claim Deed
related
—
Aug 28, 1998
$200,000
Robert H Jardon
Jardon,marjory R
Grant Deed
related
$92,593 · Seller
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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