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Property profile & analytics
OFF-MARKET
Estimated value
$3,400,000
Motels
1623 Nevada Ave Colorado Springs, CO 80905-2221
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US13-0816664
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,132 SF
Lot
1.4 ac (60,984 SF)
Zoning code
C5
APN
6419413065
UPID
US13-0816664
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
-
Rodeway Inn & Suites Hotel & Motel
-
Colorado Springs Eyebrow Microblading Medical Clinic Skin Care Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.61M
Blend (final)
Blend
$3.40M
Owner & transaction history
Yk17 Investments INC · 3 yrs held
Yk17 Investments INC
since 2022
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
C5 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.4M
+80.7%
Apartment house (5+ units)
$4.1M
+68.6%
Commercial (general)
$3.9M
+58.9%
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
$3,240,000
ML approach
$3,360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,455,000
Current use
RESTAURANT
$4,435,000
Change: +81% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,135,000
Change: +69% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,900,000
Change: +59% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,700,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,495,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$2,435,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$2,165,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.40M
Range $3.06M – $3.74M · ±10% · vs last sale $3.50M (Nov 16 2022)
Last sale anchor
$3.50M
Nov 16 2022
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
$336 / 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
$15,552
Tax year 2023
Assessed value
$292,210
Assessed 2023
Previous assessed
$292,210
+0.0% YoY
Effective rate
5.32%
On assessed value
Assessed land
$179,500
Assessed improvement
$112,710
Land market value
$643,381
Improvement market value
$403,994
Total market value
$1,047,375
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
3
Stories
2
Units
24
Total area
10,132 SF
Lot
1.4 ac (60,984 SF)
Zoning code
C5
APN
6419413065
UPID
US13-0816664
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
HOTEL/MOTEL Current
Est. value
$2.5M
RESTAURANT
Est. value
$4.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$3.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.2M
HOTEL/MOTEL Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE 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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
2
Buildings
3
Units
24
Lot
1.4 ac
Current owner
From public records · entity-resolved
Yk17 Investments INC
Entity
Mailing address
10154 E FAIR CIR, ENGLEWOOD, CO 80111-5449
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2022
$3,500,000
Yk17 Investments INC
Gemutlichkeit LLC
Special Warranty Deed
$2,879,000 · Open Bank
Oct 14, 2019
—
Gemutlichkeit LLC
—
Deed
related
$875,000 · First St Bk/co Spgs
Sep 30, 2019
—
Gemutlichkeit LLC
1623 LLC
Quit Claim Deed
related
—
May 12, 2015
—
1623 LLC|john & Dona Kenline LLC
Gemutlichkeit LLC
Warranty Deed
—
Jan 21, 2003
$1,330,000
Gemutlichkeit LLC
Czyszczon Properties LLP
Grant Deed
$783,281 · Sunflower Bank NA
—
—
Gemutlichkeit LLC
—
Deed Of Trust
related
$875,000 · First St Bk/co Spgs
—
—
Gemutlichkeit LLC
—
Deed Of Trust
related
$741,420 · First State Bank Colorado Spri
—
—
Gemutlichkeit LLC
—
Deed Of Trust
related
$564,000 · Pikes Peak FCU
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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