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206 N Tejon St, Colorado Springs, CO 80903
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Property summary
AI-generated overview
The turn-of-the-century building at 206 N Tejon Street is located in downtown Colorado Springs, directly across from Acacia Park. It has approximately 7,500 square feet of space and features 14-foot ceilings, floor-to-ceiling brick walls, and skylights that add natural light. The interior layout includes a fully usable lower level and flexible space suited to a range of modern renovation approaches while retaining historical architectural character. The property is positioned for street-level visibility with frontage on N Tejon Street, and nearby parking is available in a city parking garage directly behind the building (with 305 parking spaces). The site is located within a Qualified Opportunity Zone and an Enterprise Zone.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,750 SF
Lot
0.11 ac (4,750 SF)
Zoning code
FBZ-T1
APN
6418207013
UPID
US13-0362427
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$695k
Comparable Approach
Comparable
$537k
Blend (final)
Blend
$300k
Owner & transaction history
since 2019
7 recorded transactions
Zoning & alternative use
FBZ-T1 · Colorado Springs, CO
Zoning description
$20
General category
UNKNOWN
Top alternative use upside
Neighborhood: shopping center
$1.0M
+26.8%
Office building
$935,000
+18.6%
Auto repair, garage
$925,000
+17.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$300k
Value range
$270k – $330k
±10% around blend
Estimated value / SF
$80 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$270k
blend $300k
$330k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,750 SF
Lot area
0.11 ac
Year built
1900
Stories
1
APN
6418207013
Zoning
FBZ-T1
Assessed value
$201,820
Annual tax
$12,721
3
Income approach: direct capitalization
Partial preview
Income approach indication
$695k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$750k
@ 6.5% CAP return
$695k
@ 7% CAP return
$645k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$12,721
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$537k
Range $209k – $639k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$300k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 135 sales
$210
-62%
County 168 sales
$235
-66%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $80/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Neighborhood: Shopping Center
Gross theoretical uplift
+27%
vs current-use indication
Office Building
Auto Repair, Garage
Medical Building
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
4.75%
Selected cap rate for this retail space
Derived from the Colorado Springs market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.75%
9.0%
NOI (est.)
$90k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.90M
Move the market yield to see immediate price impact.
Value / SF
$507
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.25%4.75%5.25%
$81k
$1.91M
$1.71M
$1.55M
$90k
$2.12M
$1.90M
$1.72M
$99k
$2.34M
$2.09M
$1.89M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,721
Tax year 2023
Assessed value
$201,820
Assessed 2023
Previous assessed
$201,820
+0.0% YoY
Effective rate
6.30%
On assessed value
Assessed land
$46,050
Assessed improvement
$155,770
Land market value
$165,063
Improvement market value
$558,321
Total market value
$723,384
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
3,750 SF
Lot
0.11 ac (4,750 SF)
Zoning code
FBZ-T1
APN
6418207013
UPID
US13-0362427
Jurisdiction
EL PASO
Zoning & alternative use
FBZ-T1 · Colorado Springs, COZoning FBZ-T1 · permitted uses
FBZ-T1 · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
$20
General category
UNKNOWN
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.11 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
FBZ-T1
UNKNOWN
Jurisdiction
Colorado Springs, CO
Recorded code
FBZ-T1
Official district
FBZ-T1
Official district profile
What the municipal code says about FBZ-T1
Zoning description
$20
General category
UNKNOWN
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for FBZ-T1 in Colorado Springs, CO.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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