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Property profile & analytics
FOR SALE
Motels
1647 Nevada Ave Colorado Springs, CO 80905-2221
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US13-1188799
For Sale
$1,700,000
1647 Nevada Ave, Colorado Springs, CO 80905-2221
View Listing →
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,550 SF
Lot
0.67 ac (29,000 SF)
Zoning code
C5
APN
6430100006
UPID
US13-1188799
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
-
Family Promise of Colorado Springs Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.66M
Blend (final)
Blend
$1.27M
Owner & transaction history
Walter G Harder IV · 3 yrs held
Walter G Harder IV
since 2023
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
C5 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.7M
+10.1%
Auto repair, garage
$1.6M
+1.7%
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
$1,265,000
ML approach
$1,185,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,585,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,745,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,610,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$1,575,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$1,400,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±10% · vs last sale $1.30M (Jan 17 2023)
Last sale anchor
$1.30M
Jan 17 2023
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
$193 / 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
$9,096
Tax year 2023
Assessed value
$185,530
Assessed 2023
Previous assessed
$185,530
+0.0% YoY
Effective rate
4.90%
On assessed value
Assessed land
$85,360
Assessed improvement
$100,170
Land market value
$305,950
Improvement market value
$359,050
Total market value
$665,000
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
For Sale
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
1
Units
18
Total area
6,550 SF
Lot
0.67 ac (29,000 SF)
Zoning code
C5
APN
6430100006
UPID
US13-1188799
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
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.4M
HOTEL/MOTEL Current
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
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
1
Units
18
Lot
0.67 ac
Current owner
From public records · entity-resolved
Walter G Harder IV
Individual
Mailing address
130 W 2ND ST, SALIDA, CO 81201-2045
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2023
$1,300,000
Walter G Harder IV
John Diesslin
Special Warranty Deed
—
Nov 29, 2021
$1,300,000
John Diesslin
Stagecoach Motel LLC
Special Warranty Deed
—
Jan 31, 2019
$110,000
Stagecoach Motel LLC
Frances Kim Steiman
Warranty Deed
$800,000 · The Stockmens Bank
—
—
Frances K Steinman
—
Deed Of Trust
related
$300,000 · First State 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.
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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