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    1920 Academy Blvd Colorado Springs, CO 80916-4504
    Property profile & analytics

    1920 Academy Blvd Colorado Springs, CO 80916-4504

    View on Map
    • Retail space
    • 5,495 SF
    • 0.61 lot acres
    Off-Market
    Last Sale Jan 21, 2021
    $970,000
    Property ID
    US13-0850565
    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.
    Value Estimations
    $960,000
    Show details
    Cap Rate Potential
    8.2%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Skate City Academy / Sports Field & Court
    • Jusebeauty Blog / (Bike/Boat/Book/etc) Store
    • ATM / Atm
    • Love Etc / (Bike/Boat/Book/etc) Store / Clothing & Fashion Store

    Property Details for 1920 Academy Blvd

    Year built
    1987
    Construction
    WOOD FRAME
    Lot size
    0.61 lot acres
    Property size
    5,495 SF
    Zone code
    PBC CU AO
    Property type
    Retail space
    APN
    6427121016
    APU
    6427121016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $920,000
      ML approach
      $985,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,250,000
      6.5%
      $1,155,000
      7%
      $1,070,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $649,000
      Market price range: $178k - $837k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,155,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,465,000
      Change: +27% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,355,000
      Change: +17% Conversion: Difficult
      MEDICAL BUILDING
      $1,320,000
      Change: +14% Conversion: Difficult
      OFFICE BUILDING
      $1,175,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.758
    Latitude
    38.8042
    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
    $14,525
    $62,740
    $228,550
    $291,290
    -
    $224,860
    $819,190
    $1,044,050

    Comparable in this City

    • Value Estimation
      $965,000
      9,640 SF

      1950 Academy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,640 SF
      1950 Academy Blvd, Colorado Springs, CO 80916-4504
      View Details
    • Value Estimation
      $970,000
      2,148 SF

      425 Murray Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,148 SF
      425 Murray Blvd, Colorado Springs, CO 80916-1029
      View Details
    • Value Estimation
      $955,000
      9,516 SF

      1942 Academy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,516 SF
      1942 Academy Blvd, Colorado Springs, CO 80916
      View Details
    • Value Estimation
      $975,000
      2,529 SF

      435 Murray Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,529 SF
      435 Murray Blvd, Colorado Springs, CO 80916-1029
      View Details
    • Value Estimation by Request
      59.98 Acres

      Powers Blvd & Airport Rd

      Individual retail properties • 576,975 SF
      0 Powers Blvd & Airport Rd, Colorado Springs, CO 80916
      View Details
    • Value Estimation
      $1,165,000
      7,000 SF

      1848 Academy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      1848 Academy Blvd, Colorado Springs, CO 80916-4510
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,200 SF

      Retail/Flex Building on Academy Blvd

      Single-tenant retail/flex building with high visibility and ample parking.
      2582 S Academy Blvd, Colorado Springs, CO 80916
      View Details
    • $1,295,000
      24,970 SF

      Retail Building in High Traffic

      Retail building in a high-traffic area available for sale.
      3012 S Academy Blvd, Colorado Springs, CO 80916
      View Details
    • $2,095,117
      17,584 SF

      Retail Redevelopment Opportunity

      Value-add retail opportunity in Colorado Springs' high-growth airport trade area.
      3105-3121 S Academy Blvd, Colorado Springs, CO 80916
      View Details
    • Contact for pricing
      29,915 SF

      Renovated Automotive/Retail Property For Sale

      Recently renovated automotive/retail property with truck parking and high visibility.
      1749 N Academy Blvd, Colorado Springs, CO 80916
      View Details
    • $2,500,000
      58,242 SF

      Retail Center Near Airport

      Retail property with high traffic and exterior docks.
      3175 Jet Wing Dr, Colorado Springs, CO 80916
      View Details
    • $6,603,015
      44,089 SF

      Retail Redevelopment Opportunity

      Value-add retail redevelopment in a high-growth area.
      3001-3069 S Academy Blvd, Colorado Springs, CO 80916
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      5,885 SF

      Retail Space in Redevelopment Project

      Retail space available in a mixed-use redevelopment project.
      2030-2076 Jet Wing Dr, Colorado Springs, CO 80916
      View Details
    • $10 SF/Yr
      20,000 SF

      Retail Space on Academy Boulevard

      Retail spaces available at a busy intersection with high traffic.
      2322-2440 S Academy Blvd, Colorado Springs, CO 80916
      View Details
    • Contact for pricing

      Retail Space Near Fort Carson

      Retail space for lease in southeastern Colorado Springs.
      2322 S Academy Blvd, Colorado Springs, CO 80916
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Colorado Springs, CO.
      Aeroplaza Dr & Powers Blvd, Colorado Springs, CO 80916
      View Details
    • Contact for pricing

      Chelton Crossing Retail Opportunity

      Retail and multi-family redevelopment opportunity in southeast Colorado Springs.
      2060 Jet Wing Dr, Colorado Springs, CO 80916
      View Details
    • $14 SF/Yr
      3,600 SF

      Established Shopping Center Space

      Retail space in Southeast Colorado Springs near the airport.
      4375-4399 Airport Rd, Colorado Springs, CO 80916
      View Details
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    Colorado Springs, CO 80916-4504
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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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