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Property profile & analytics
OFF-MARKET
Estimated value
$2,235,000
Strip malls
1824 Democracy Pt Colorado Springs, CO 80908-5274
Individually Owned
3-yr Hold
Free & Clear
Property ID
US13-2266179
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2022
Total area
12,883 SF
Lot
1.99 ac (86,684 SF)
Zoning code
PUD
APN
6220402002
UPID
US13-2266179
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.24M
CAP Approach
CAP
$2.74M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.24M
Owner & transaction history
Colorado Sprtngs Interquest Covenan · 3 yrs held
Colorado Sprtngs Interquest Covenan
since 2022
Last sale
$2.3M
1 recorded transaction
Zoning & alternative use
PUD · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,120,000
ML approach
$2,240,000
CAP Approach
CAP Return
Estimation
6%
$2,970,000
6.5%
$2,740,000
7%
$2,545,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,435,000
Current use
AUTO REPAIR, GARAGE
$3,170,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$3,100,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$2,750,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$2.24M
Range $2.01M – $2.46M · ±10% · vs last sale $2.29M (Aug 5 2022)
Last sale anchor
$2.29M
Aug 5 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
$173 / 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
$78,085
Tax year 2023
Assessed value
$578,790
Assessed 2023
Previous assessed
$578,790
+0.0% YoY
Effective rate
13.49%
On assessed value
Assessed land
$556,250
Assessed improvement
$22,540
Land market value
$1,993,732
Improvement market value
$80,794
Total market value
$2,074,526
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2022
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Total area
12,883 SF
Lot
1.99 ac (86,684 SF)
Zoning code
PUD
APN
6220402002
UPID
US13-2266179
Jurisdiction
EL PASO
Zoning & alternative use
PUD · Colorado Springs, CO
Zoning PUD · permitted uses
PUD · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER Current
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
2022
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.99 ac
Current owner
From public records · entity-resolved
Colorado Sprtngs Interquest Covenan
Individual
Free & Clear · 3 yrs held
Mailing address
2460 PASEO VERDE PKWY STE #145, HENDERSON, NV 89074-7142
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2022
$2,290,000
Colorado Sprtngs Interquest Covenan
Interquest Westside LLC
Special Warranty Deed
—
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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