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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Assisted living facilities
2509 Cascade Ave, Colorado Springs, CO 80907-6742
Individually Owned
3-yr Hold
Property ID
US13-1564584
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1902
Construction
FRAME
Total area
3,355 SF
Lot
0.21 ac (9,025 SF)
Zoning code
R1-6
APN
6331339012
UPID
US13-1564584
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
-
Embark Renaissance House Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$680k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$690k
Owner & transaction history
Jonathan J Wells · 3 yrs held
Jonathan J Wells
since 2023
Last sale
$700,000
7 recorded transactions
Zoning & alternative use
R1-6 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$685,000
+479.1%
Medical building
$450,000
+281.2%
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
$680,000
ML approach
$680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$685,000
Change: +479% · Conversion: Difficult
MEDICAL BUILDING
$450,000
Change: +281% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $700k (Jun 5 2023)
Last sale anchor
$700k
Jun 5 2023
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
$206 / 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
$751
Tax year 2023
Assessed value
$17,380
Assessed 2023
Previous assessed
$17,380
+0.0% YoY
Effective rate
4.32%
On assessed value
Assessed land
$4,720
Assessed improvement
$12,660
Land market value
$70,395
Improvement market value
$189,012
Total market value
$259,407
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1902
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
9
Rooms
6
Bathrooms
2
Total area
3,355 SF
Lot
0.21 ac (9,025 SF)
Zoning code
R1-6
APN
6331339012
UPID
US13-1564584
Jurisdiction
EL PASO
Zoning & alternative use
R1-6 · Colorado Springs, CO
Zoning R1-6 · permitted uses
R1-6 · 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
COMMERCIAL (GENERAL)
Est. value
$685,000
MEDICAL BUILDING
Est. value
$450,000
COMMERCIAL (GENERAL)
MEDICAL 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
1902
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
9
Rooms
6
Bathrooms
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Jonathan J Wells
Individual
Mailing address
2509 N CASCADE AVE, COLORADO SPRINGS, CO 80907-6742
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2023
$700,000
Jonathan J Wells
Cca Cascade House LLC
Warranty Deed
$455,000 · Alpine Bank
May 12, 2020
—
Cca Cascade House LLC
—
Deed
related
—
Feb 28, 2017
—
Cca Cascade House LLC
Heer Legacy Invs Ltd Lllp
Quit Claim Deed
related
—
Jul 15, 2008
—
Heer Legacy Invs Ltd Lllp
—
Trustees Deed
related
$135,000 · International Bank
Jan 5, 2007
$135,000
Heer Legacy Invs Ltd Lllp
Vaught,john
Warranty Deed
—
Jul 27, 2006
—
John R Vaught
—
Trustees Deed
related
$72,500 · Sharon A Vaught
Apr 12, 2006
$120,000
John Vaught
Switzer,lois E
Warranty Deed
—
Nov 1, 2004
$60,000
Lois E Switzer
Binks,virginia M
Warranty Deed
—
—
—
Cca Cascade House LLC
—
Loan Modification
related
—
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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