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    Property profile & analytics

    1783 Cheyenne Mountain Blvd Colorado Springs, CO 80906

    • Strip malls
    • 7,738 SF
    • 0.78 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Last Sale
    Jan 04, 2024
    $2,800,000
    Value Estimations
    $2,800,000
    Cap Rate Potential
    3.4%
    Strip malls
    Location Intelligence
    Property ID
    US13-0966672
    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

    • Chase Mortgage / Loan Service / Bank
    • Chase Bank / Bank / Loan Service
    • Chase ATM / Atm

    Property Details for 1783 Cheyenne Mountain Blvd

    Year built
    2001
    Construction
    WOOD FRAME
    Lot size
    0.78 lot acres
    Property size
    7,738 SF
    Zone code
    PBC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    6432103015
    APU
    6432103015

    Description

    Shops at Cheyenne Mountain Center offers a unique retail opportunity in a high-traffic location. This 7,736 square foot multi-tenant retail building, constructed in 2001, is situated at the southwest corner of Lake Avenue and E. Cheyenne Mountain Boulevard, providing direct access to and from Interstate 25. The property is zoned MX-M (formerly PBC) within the desirable Cheyenne Mountain Center business district, benefiting from proximity to major national retailers, hotels, restaurants, the Broadmoor World Arena, and USA Ice Hockey. Currently, 4,410 square feet of space is available, ideally suited for a variety of uses. The space is currently built out as a fitness center, offering a flexible layout adaptable to a tenant's specific needs. The building's location within El Paso County ensures excellent visibility and accessibility for customers. This presents a rare chance to establish a business in a thriving commercial hub with strong existing infrastructure and high consumer traffic. The available space is highly adaptable and can be subdivided to accommodate various business requirements. This prime retail location offers unparalleled access to a large and diverse customer base. Don't miss this exceptional opportunity to secure a prominent presence in a dynamic and successful commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,800,000
      ML approach
      $2,800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,247,000
      Market price range: $1.02M - $3.08M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,060,000
      Current use
      RESTAURANT
      $3,385,000
      Change: +64% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,160,000
      Change: +53% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,975,000
      Change: +44% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,905,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $1,860,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.801
    Latitude
    38.7948
    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
    $200,620
    $279,470
    $480,090
    -
    $719,079
    $1,001,677
    $1,720,756

    Comparable in this City

    • Value Estimation
      $2,125,000
      12,780 SF

      4451 Venetucci Blvd

      SHOPPING CENTER, STRIP CENTER • 12,780 SF
      4451 Venetucci Blvd, Colorado Springs, CO 80906-4053
      View Details
    • Value Estimation
      $1,440,000
      15,846 SF

      1785 B St

      SHOPPING CENTER, STRIP CENTER • 15,846 SF
      1785 B St, Colorado Springs, CO 80906-5365
      View Details
    • Value Estimation
      $3,355,000
      20,612 SF

      6502 Academy Blvd

      SHOPPING CENTER, STRIP CENTER • 20,612 SF
      6502 Academy Blvd, Colorado Springs, CO 80906-8614
      View Details
    • Value Estimation
      $2,715,000
      21,616 SF

      710 Cheyenne Mdws Rd

      SHOPPING CENTER, STRIP CENTER • 21,616 SF
      710 Cheyenne Mdws Rd, Colorado Springs, CO 80906-4943
      View Details
    • Value Estimation
      $1,875,000
      11,400 SF

      2002 Southgate Rd

      SHOPPING CENTER, STRIP CENTER • 11,400 SF
      2002 Southgate Rd, Colorado Springs, CO 80906-2690
      View Details
    • Value Estimation
      $665,000
      6,600 SF

      1807 B St

      SHOPPING CENTER, STRIP CENTER • 6,600 SF
      1807 B St, Colorado Springs, CO 80906-5300
      View Details

    Similar Nearby for Sale

    • $4,836,613
      27,600 SF

      Leased Shopping Center Investment

      Almost fully leased shopping center in a vibrant commercial area.
      2045-2059 B St, Colorado Springs, CO 80906
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      Freestanding Restaurant Building For Sale

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      1.20 Acres

      Broadmoor Towne Center Pad Site

      Prime 1.2-acre retail pad site
      2070 Southgate Rd, Colorado Springs, CO 80906
      View Details
    • $5,000,000
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      Prime Colorado Springs Land Investment

      110 Acres, $5M, A-5 Zoning
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    • $250,000

      Broadmoor Hills Park Land Parcel

      Large lot in desirable Broadmoor Hills Park neighborhood.
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    • $450,000

      Land For Sale

      Land available for purchase in Colorado Springs, Colorado.
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    Similar Nearby for Lease

    • $16 SF/Yr
      2,413 SF

      Retail Space in Centerpointe Plaza

      Shopping center space for lease on North Academy Boulevard.
      5665-5691 N Academy Blvd, Colorado Springs, CO 80906
      View Details
    • $24 SF/Yr
      1,825 SF

      Retail Space in Centerpointe Plaza

      Retail space available in a shopping center on N Academy.
      5605-5649 N Academy Blvd, Colorado Springs, CO 80906
      View Details
    • $15 SF/Yr
      1,800 SF

      Retail Space Near Fort Carson

      Retail space in Safeway-anchored center near Fort Carson.
      6512 S Academy Blvd, Colorado Springs, CO 80906
      View Details
    • $15 SF/Yr
      99,983 SF

      Cheyenne Montana Shopping Center

      Prime Colorado Springs Retail Space
      0 Academy Blvd & Hwy 115, Colorado Springs, CO 80906
      View Details
    • $16 SF/Yr
      73,423 SF

      Southern Cross Shopping Center Space

      Colorado Springs retail space for lease. Multiple units available.
      1801-1877 Nevada Ave, Colorado Springs, CO 80906
      View Details
    • Contact for pricing
      5,856 SF

      Prime Retail Spaces Available

      Three prime retail spaces available in Broadmoor Towne Center.
      2110 Southgate Rd, Colorado Springs, CO 80906
      View Details
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    Colorado Springs, CO 80906
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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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