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

    1622 Academy Blvd Colorado Springs, CO 80916-4521

    • Grocery and convenience stores
    • 41,130 SF
    • 5.44 lot acres
    OFF-MARKET
    Value Estimations
    $4,145,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-1100463
    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

    • Walmart Connection Center / Cell Phone Store
    • Walmart Patio & Garden Services / Landscaper
    • Walmart Baby & Nursery Services / Family Service Center
    • Walmart Pet Services / Dog Day Care Center / Pet Sitter
    • Jayce Wright / Pharmacy

    Property Details for 1622 Academy Blvd

    Year built
    2012
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.44 lot acres
    Property size
    41,130 SF
    Zone code
    PBC AO
    Property type
    Grocery and convenience stores
    APN
    6427111071
    APU
    6427111071

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,202,000
      Market price range: $5.20M - $12.8M

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.759
    Latitude
    38.8078
    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
    $44,205
    $555,350
    $314,070
    $869,420
    -
    $1,990,514
    $1,125,686
    $3,116,200

    Comparable in this City

    • Value Estimation
      $6,555,000
      5,566 SF

      441 Flyway Pt

      CONVENIENCE STORE • 5,566 SF
      441 Flyway Pt, Colorado Springs, CO 80916-1667
      View Details
    • Value Estimation by Request
      4,185 SF

      1120 Newport Rd

      CONVENIENCE STORE • 4,185 SF
      1120 Newport Rd, Colorado Springs, CO 80916-2720
      View Details
    • Value Estimation
      $625,000
      3,822 SF

      5375 Airport Rd

      CONVENIENCE STORE • 3,822 SF
      5375 Airport Rd, Colorado Springs, CO 80916-1607
      View Details
    • Value Estimation
      $595,000
      3,414 SF

      5280 Astrozon Blvd

      CONVENIENCE STORE • 3,414 SF
      5280 Astrozon Blvd, Colorado Springs, CO 80916-2630
      View Details
    • Value Estimation by Request
      1,568 SF

      1740 Jet Wing Dr

      CONVENIENCE STORE • 1,568 SF
      1740 Jet Wing Dr, Colorado Springs, CO 80916-2393
      View Details
    • Value Estimation
      $5,800,000
      61,467 SF

      2750 Academy Blvd

      GROCERY, SUPERMARKET • 61,467 SF
      2750 Academy Blvd, Colorado Springs, CO 80916-2855
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1 SF

      Prime Retail Land: Colorado Springs

      13-Acre Freestanding Retail Lot, Excellent Location
      401 Flyway Pt, Colorado Springs, CO 80916
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    • $749,950
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      Retail/Flex Building on Academy Blvd

      Single-tenant retail/flex building with high visibility and ample parking.
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      13.00 Acres

      Westgate at Powers: Prime Commercial Land

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      1 SF

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      High-traffic location, 1.34 acres.
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      Colorado Springs Retail Land Opportunity

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      Executive Office Space, Colorado Springs

      Prime location, high traffic, investment opportunity.
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    Similar Nearby for Lease

    • $13 SF/Yr
      5,885 SF

      Retail Space in Redevelopment Project

      Retail space available in a mixed-use redevelopment project.
      2030-2076 Jet Wing Dr, Colorado Springs, CO 80916
      View Details
    • $10 SF/Yr
      3,400 SF

      Retail Space on Academy Boulevard

      Retail spaces available at a busy intersection with high traffic.
      2322-2440 S Academy Blvd, Colorado Springs, CO 80916
      View Details
    • Contact for pricing
      1 SF

      Prime Retail Land: Powers & Aeroplaza

      High-visibility, flexible-zoned retail lot.
      0 Aeroplaza Dr & Powers Blvd, Colorado Springs, CO 80916
      View Details
    • Contact for pricing

      Neighborhood Shopping Plaza Space Available

      Neighborhood shopping plaza with one space available for lease.
      2505 South Chelton Rd, Colorado Springs, CO 80916
      View Details
    • $8 SF/Yr
      91,753 SF

      Gateway Village Shopping Center

      Colorado Springs Retail Space Available
      2322 Academy Blvd, Colorado Springs, CO 80916
      View Details
    • $9 SF/Yr
      1,200 SF

      Colorado Springs Retail Center

      Prime Retail Space, Multiple Units Available
      2505 Chelton Rd, Colorado Springs, CO 80916
      View Details

    Property Visit Statistics

    • Visits by month
      87.2k
    • Visitors by month
      43.6k
    • Avg Time on site
      20 min
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    1622 Academy Blvd
    Colorado Springs, CO 80916-4521
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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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