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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Distribution centers
1805 Cheyenne Rd Colorado Springs, CO 80905-2868
Entity Owned
20-yr Hold
Free & Clear
Property ID
US13-0061874
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,289 SF
Lot
0.14 ac (5,970 SF)
Zoning code
M1 P
APN
6429401064
UPID
US13-0061874
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
-
RXP Radio Station Telecommunications Service
-
The Alternative RXP @ 1039 Radio Station Telecommunications Service
-
KRXP X1039 Radio Station Telecommunications Service
-
94.3 KILO The Rock Station Radio Station Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$753k
Blend (final)
Blend
$1.06M
Owner & transaction history
Star City Dev Co INC · 20 yrs held
Star City Dev Co INC
since 2006
6 recorded transactions
Zoning & alternative use
M1 P · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.7M
+62.0%
Auto repair, garage
$1.6M
+49.6%
Medical building
$1.5M
+46.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,155,000
6.5%
$1,065,000
7%
$990,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,035,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,675,000
Change: +62% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,550,000
Change: +50% · Conversion: Easy
MEDICAL BUILDING
$1,515,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$1,345,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±10%
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
$169 / 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
$6,347
Tax year 2023
Assessed value
$123,630
Assessed 2023
Previous assessed
$123,630
+0.0% YoY
Effective rate
5.13%
On assessed value
Assessed land
$13,630
Assessed improvement
$110,000
Land market value
$48,859
Improvement market value
$394,271
Total market value
$443,130
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
6,289 SF
Lot
0.14 ac (5,970 SF)
Zoning code
M1 P
APN
6429401064
UPID
US13-0061874
Jurisdiction
EL PASO
Zoning & alternative use
M1 P · Colorado Springs, CO
Zoning M1 P · permitted uses
M1 P · 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
WAREHOUSE, STORAGE Current
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.3M
WAREHOUSE, STORAGE 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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Star City Dev Co INC
Entity
Free & Clear · 20 yrs held
Mailing address
PO BOX 32488, CHARLOTTE, NC 28232-2488
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2025
—
Star City Development Company INC
—
Deed
related
$8,500,000 · Red Fox Capital Mortgage Fund LP
Jan 9, 2006
$270,000
Star City Dev Co INC
Colorado Springs Radio Broadca
Grant Deed
—
Jan 9, 2006
—
Colorado Springs Radio Broadca
—
Deed Of Trust
related
$74,990,277 · General Electric Capital Corp
Aug 19, 2005
—
Colorado Springs Radio Broadca
—
Deed Of Trust
related
$74,990,277 · General Electric Capital Corp
—
—
Colorado Springs Radio Broadca
—
Deed Of Trust
related
—
—
—
Colorado Springs Radio Broadca
—
Deed Of Trust
related
—
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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