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Property profile & analytics
OFF-MARKET
Estimated value
$3,020,000
Distribution centers
2420 Hancock Expy Colorado Springs, CO 80910-1127
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US13-1207303
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,200 SF
Lot
1.86 ac (81,022 SF)
Zoning code
M2
APN
6434207001
UPID
US13-1207303
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
-
Hancock Auto Body Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.98M
CAP Approach
CAP
$3.26M
Comparable Approach
Comparable
$2.54M
Blend (final)
Blend
$3.02M
Owner & transaction history
2408 2440 Hancock Expy LLC · 3 yrs held
2408 2440 Hancock Expy LLC
since 2022
Last sale
$3.2M
2 recorded transactions
Zoning & alternative use
M2 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.7M
+80.0%
Medical building
$4.6M
+75.9%
Office building
$4.1M
+56.2%
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
$2,960,000
ML approach
$2,980,000
CAP Approach
CAP Return
Estimation
6%
$3,525,000
6.5%
$3,255,000
7%
$3,020,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,625,000
Current use
AUTO REPAIR, GARAGE
$4,725,000
Change: +80% · Conversion: Easy
MEDICAL BUILDING
$4,620,000
Change: +76% · Conversion: Difficult
OFFICE BUILDING
$4,100,000
Change: +56% · Conversion: Difficult
Blend value · Realmo final
$3.02M
Range $2.72M – $3.32M · ±10% · vs last sale $3.20M (Dec 9 2022)
Last sale anchor
$3.20M
Dec 9 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
$157 / 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
Assessed value
$541,820
Assessed 2023
Previous assessed
$541,820
+0.0% YoY
Assessed land
$61,030
Assessed improvement
$480,790
Land market value
$218,757
Improvement market value
$1,723,279
Total market value
$1,942,036
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
19,200 SF
Lot
1.86 ac (81,022 SF)
Zoning code
M2
APN
6434207001
UPID
US13-1207303
Jurisdiction
EL PASO
Zoning & alternative use
M2 · Colorado Springs, CO
Zoning M2 · permitted uses
M2 · 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
WAREHOUSE, STORAGE Current
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$4.6M
OFFICE BUILDING
Est. value
$4.1M
WAREHOUSE, STORAGE 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
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
1.86 ac
Current owner
From public records · entity-resolved
2408 2440 Hancock Expy LLC
Entity
Mailing address
1176 E LAYTON AVE, ENGLEWOOD, CO 80113-7036
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2022
$3,200,000
2408 2440 Hancock Expy LLC
Gunsmoke Unlimited LLC
Special Warranty Deed
$2,400,000 · Westerra Cu
Dec 29, 2015
$800,000
Gunsmoke Unlimited LLC
Krebs William W & H L Trust
Grant Deed
$750,000 · Krebs William W & H L Tr (pt)
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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