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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    211 8th St Colorado Springs, CO 80905

    • Strip malls
    • 10,555 SF
    • 2.52 lot acres
    OFF-MARKET
    Last Sale
    Sep 12, 2024
    $850,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0447717
    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

    • Strip malls

    Property Details for 211 8th St

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.52 lot acres
    Property size
    10,555 SF
    Zone code
    C6 P
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    7413404008
    APU
    7413404008

    Description

    Cimarron Station, located at 211-229 S Eighth St, Colorado Springs, CO 80905, presents a unique investment opportunity. This exceptional property encompasses 2.52 acres of land, featuring a 10,555 square foot retail building constructed in 1987. The single-story building sits on a lot zoned MX-L, offering significant potential for redevelopment or continued operation. The property boasts excellent visibility and accessibility, situated in a high-traffic area with over 106,100 vehicles passing daily. Its prime location along the rapidly expanding Highway 24 corridor ensures high exposure and strong potential for attracting customers. The close proximity to downtown Colorado Springs and the central business district (CBD) further enhances its desirability. The property's zoning allows for a variety of commercial uses. Additionally, there's a possibility of installing a 30-foot pole sign, providing even greater visibility from Interstate 25. The asking price for this exceptional retail property is $850,000. This presents a rare chance to acquire a well-positioned asset in a thriving Colorado Springs market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.839
    Latitude
    38.8314
    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
    $248,070
    $289,540
    $537,610
    -
    $889,145
    $1,037,765
    $1,926,910

    Comparable in this City

    • Value Estimation
      $260,000
      21,560 SF

      1801 Nevada Ave

      SHOPPING CENTER, STRIP CENTER • 21,560 SF
      1801 Nevada Ave, Colorado Springs, CO 80905-2516
      View Details
    • Value Estimation
      $190,000
      6,290 SF

      919 Arcturus Dr

      SHOPPING CENTER, STRIP CENTER • 6,290 SF
      919 Arcturus Dr, Colorado Springs, CO 80905-7840
      View Details
    • Value Estimation
      $530,000
      9,005 SF

      1634 Nevada Ave

      SHOPPING CENTER, STRIP CENTER • 9,005 SF
      1634 Nevada Ave, Colorado Springs, CO 80905-2404
      View Details
    • Value Estimation
      $335,000
      7,761 SF

      1528 Nevada Ave, Unit 1538

      SHOPPING CENTER, STRIP CENTER • 7,761 SF
      1528 Nevada Ave, Colorado Springs, CO 80905-2220
      View Details
    • Value Estimation
      $245,000
      2,096 SF

      617 Colorado Ave

      SHOPPING CENTER, STRIP CENTER • 2,096 SF
      617 Colorado Ave, Colorado Springs, CO 80905-1512
      View Details
    • Value Estimation
      $1,605,000
      9,807 SF

      819 Costilla St

      SHOPPING CENTER, STRIP CENTER • 9,807 SF
      819 Costilla St, Colorado Springs, CO 80905
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Colorado Springs Retail Center

      Prime 8th Street Retail Space Available
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    • $16 SF/Yr
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      Retail Space on Nevada Avenue

      Retail space with high visibility and strong demographics.
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      Prime retail space, flexible layouts.
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      Retail Space in Cheyenne Plaza

      Retail space available in busy Cheyenne Plaza shopping center.
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    • $10 SF/Yr
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      Retail Center on South 8th

      Multi-tenant retail center with great visibility and access.
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      View Details
    • $126 SF/Yr
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      Cheyenne Center Retail Space

      Colorado Springs retail space available.
      1707 8Th St, Colorado Springs, CO 80905
      View Details
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    211 8th St
    Colorado Springs, CO 80905
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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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