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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Turn key restaurants
2223 Colorado Ave Colorado Springs, CO 80904-3324
Entity Owned
1-yr Hold
Free & Clear
Property ID
US13-0890582
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1900
Construction
WOOD FRAME
Total area
1,416 SF
Lot
0.12 ac (5,400 SF)
Zoning code
C5
APN
7411305009
UPID
US13-0890582
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
-
Giant Blueberry Pancake Restaurant
-
Mountain Shadows Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$388k
Blend (final)
Blend
$635k
Owner & transaction history
Berto LLC · 1 yrs held
Berto LLC
since 2025
Last sale
$650,000
2 recorded transactions
Zoning & alternative use
C5 · 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
$645,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$620,000
Current use
COMMERCIAL (GENERAL)
$545,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $650k (Jan 17 2025)
Last sale anchor
$650k
Jan 17 2025
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
$448 / 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
$1,987
Tax year 2023
Assessed value
$44,640
Assessed 2023
Previous assessed
$44,640
+0.0% YoY
Effective rate
4.45%
On assessed value
Assessed land
$21,240
Assessed improvement
$23,400
Land market value
$76,140
Improvement market value
$83,878
Total market value
$160,018
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1900
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Total area
1,416 SF
Lot
0.12 ac (5,400 SF)
Zoning code
C5
APN
7411305009
UPID
US13-0890582
Jurisdiction
EL PASO
Zoning & alternative use
C5 · Colorado Springs, CO
Zoning C5 · permitted uses
C5 · 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
RESTAURANT Current
Est. value
$620,000
COMMERCIAL (GENERAL)
Est. value
$545,000
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1900
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Berto LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2223 W COLORADO AVE, COLORADO SPRINGS, CO 80904-3324
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2025
$650,000
Berto LLC
Dream Big Corporation
Warranty Deed
—
Nov 2, 2016
$125,000
Dream Big Corporation
Isabellia S Bieri
Personal Representative Deed
$100,000 · Ent Cu
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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