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

    1605 Briargate Pkwy Colorado Springs, CO 80920-7811

    • Community centers
    • 31,120 SF
    • 29.17 lot acres
    OFF-MARKET
    Value Estimations
    $5,540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0806806
    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

    • Rocky Mountain Chocolate Factory / Specialty Food Shop / Candy Store
    • Chico's / Clothing & Fashion Store
    • Omaha Steaks / Take-out & Catering / Butcher
    • Starbucks / Cafe & Coffee Shop
    • Haagen Dazs - Ice Cream / Grocery & Convenience Store / Specialty Food Shop

    Property Details for 1605 Briargate Pkwy

    Year built
    2003
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    29.17 lot acres
    Property size
    31,120 SF
    Zone code
    PBC
    Property type
    Community centers
    APN
    6232102001
    APU
    6232102001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,290,000
      6.5%
      $7,655,000
      7%
      $7,105,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $8,295,000
      Current use
      AUTO REPAIR, GARAGE
      $7,660,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $7,485,000
      Change: -10% Conversion: Difficult
      OFFICE BUILDING
      $7,290,000
      Change: -12% 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
    -104.794
    Latitude
    38.9634
    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
    $0.00
    $2,853,810
    $8,189,500
    $11,043,310
    -
    $10,228,692
    $29,353,032
    $39,581,724

    Comparable in this City

    • Value Estimation
      $2,645,000
      224,546 SF

      7620 Academy Blvd

      MINI-MALL • 224,546 SF
      7620 Academy Blvd, Colorado Springs, CO 80920-3208
      View Details
    • Value Estimation
      $895,000
      8,331 SF

      7675 Un Blvd

      MINI-MALL • 8,331 SF
      7675 Un Blvd, Colorado Springs, CO 80920-3863
      View Details
    • Value Estimation
      $1,425,000
      13,630 SF

      7615 Un Blvd

      MINI-MALL • 13,630 SF
      7615 Un Blvd, Colorado Springs, CO 80920-3863
      View Details
    • Value Estimation
      $625,000
      5,710 SF

      7601 Un Blvd

      MINI-MALL • 5,710 SF
      7601 Un Blvd, Colorado Springs, CO 80920-3863
      View Details
    • Value Estimation by Request
      61,759 SF

      7325-7495 Academy Blvd

      Neighborhood centers • 61,759 SF
      7325-7495 Academy Blvd, Colorado Springs, CO 80920
      View Details
    • Value Estimation by Request
      24,485 SF

      1725-1753 Briargate Blvd

      Neighborhood centers • 24,485 SF
      1725-1753 Briargate Blvd, Colorado Springs, CO 80920
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      21.10 Acres

      Briargate Crossing East Lot BX-5

      Prime Retail Pad Site, Colorado Springs
      0 Powers Blvd, Colorado Springs, CO 80920
      View Details
    • $1,500,000
      3,390 SF

      Prime QSR Location - Colorado Springs

      Profitable KFC Space, Owner/User Opportunity
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      11.86 Acres

      Gastonia Retail Space For Lease

      Prime Retail/Office, High Visibility, 299 SF
      0 Swc Un Blvd. And Powers Blvd, Colorado Springs, CO 80920
      View Details
    • $1,250,000
      2.10 Acres

      Colorado Springs Commercial Land

      2.1-acre prime development site.
      1860 Office Club Pt, Colorado Springs, CO 80920
      View Details
    • $1,500,000
      15.38 Acres

      Colorado Springs Development Land

      15 Acres, Prime Location, High Visibility
      0 Tbd Nwc Of Austin Blf Pkwy And Woodmen Rd, Colorado Springs, CO 80920
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    • $17,500,000
      140,583 SF

      Corporate Headquarters Opportunity

      93,000 SF corporate headquarters with I-25 visibility.
      6860 Campus Dr, Colorado Springs, CO 80920
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    Similar Nearby for Lease

    • Contact for pricing
      116,184 SF

      Woodmen Plaza Retail Center

      Colorado Springs Retail Space Available
      3570 Hartsel Dr, Colorado Springs, CO 80920
      View Details
    • $34 SF/Yr
      3,000 SF

      Retail Space in Power Peak

      Prominent retail center space for lease on Powers Blvd.
      5620 E Woodmen Rd, Colorado Springs, CO 80920
      View Details
    • $38 SF/Yr
      61,759 SF

      Shops at Falcon Landing: Prime Retail Space

      El Paso County retail center, 3 buildings, high traffic.
      7325-7495 Academy Blvd, Colorado Springs, CO 80920
      View Details
    • $24 SF/Yr
      24,485 SF

      Chapel Hills Shops: Retail Space Available

      Prime Retail Space, High-Traffic Location
      1725-1753 Briargate Blvd, Colorado Springs, CO 80920
      View Details
    • Contact for pricing
      38,000 SF

      Prime Retail Space Available

      Retail space in a dynamic 156,000 SF shopping center.
      1709-1790 E Woodmen Rd, Colorado Springs, CO 80920
      View Details
    • Contact for pricing
      1,830 SF

      Retail Space in Woodmen Commons

      Retail space available in a busy shopping center.
      1720-1730 E Woodmen Rd, Colorado Springs, CO 80920
      View Details
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    Colorado Springs, CO 80920-7811
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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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