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    2802 Nevada Ave Colorado Springs, CO 80907-6201
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    2802 Nevada Ave Colorado Springs, CO 80907-6201

    View on Map
    • Office buildings
    • 8,049 SF
    • 0.30 lot acres
    Off-Market
    Last Sale Dec 30, 2025
    $1,283,234
    Property ID
    US13-1126406
    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.
    Value Estimations
    $1,235,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial Hemp Farms / Food Processing Plant

    Property Details for 2802 Nevada Ave

    Year built
    1968
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.30 lot acres
    Property size
    8,049 SF
    Zone code
    C6 C5 NNO
    Property type
    Office buildings
    APN
    6331410029
    APU
    6331410029

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,410,000
      6.5%
      $1,300,000
      7%
      $1,205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,628,000
      Market price range: $1.18M - $3.77M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,980,000
      MEDICAL BUILDING
      $1,935,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.82
    Latitude
    38.8722
    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
    $16,286
    $43,070
    $258,140
    $301,210
    -
    $154,382
    $925,230
    $1,079,612

    Comparable in this City

    • Value Estimation
      $3,755,000
      23,935 SF

      3470 Centennial Blvd

      OFFICE BUILDING • 23,935 SF
      3470 Centennial Blvd, Colorado Springs, CO 80907-4090
      View Details
    • Value Estimation by Request
      1,491 SF

      2910 Beacon St

      OFFICE BUILDING • 1,491 SF
      2910 Beacon St, Colorado Springs, CO 80907-7900
      View Details
    • Value Estimation by Request
      3,237 SF

      1921 Weber St

      OFFICE BUILDING • 3,237 SF
      1921 Weber St, Colorado Springs, CO 80907-6903
      View Details
    • Value Estimation by Request
      1,824 SF

      1135 Fillmore St

      OFFICE BUILDING • 1,824 SF
      1135 Fillmore St, Colorado Springs, CO 80907-6372
      View Details
    • Value Estimation
      $535,000
      1,483 SF

      109 Fontanero St

      OFFICE BUILDING • 1,483 SF
      109 Fontanero St, Colorado Springs, CO 80907-7452
      View Details
    • Value Estimation
      $3,750,000
      3,790 SF

      3131 Nevada Ave

      OFFICE BUILDING • 3,790 SF
      3131 Nevada Ave, Colorado Springs, CO 80907-5324
      View Details

    Similar Nearby for Sale

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      Office building for sale near downtown Colorado Springs.
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    • $2,600,000

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      Office building in park-like setting with strong rental history.
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    • $699,500
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      Office Building Near Fillmore

      Office building near I-25 with flexible unit configuration.
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      3,848 SF

      Serene Office Building For Sale

      Flexible office building near I-25 with rental income potential.
      915 Pinon Ranch Vw, Colorado Springs, CO 80907
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    • Contact for pricing
      25,530 SF

      Colorado Springs Office Building

      Office building available for sale in Colorado Springs.
      1357 Garden Of The Gods Rd, Colorado Springs, CO 80907
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    • $445,000

      Remodeled Commercial Space For Sale

      Versatile 5,751 sq ft commercial property in prime Colorado Springs location.
      3132 N Hancock Ave, Colorado Springs, CO 80907
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    Similar Nearby for Lease

    • Contact for pricing
      6,500 SF

      Office Space with I-25 Signage

      Prime office location near I-25 with high visibility signage.
      3710 Sinton Rd, Colorado Springs, CO 80907
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    • Contact for pricing

      Premier Professional Building For Rent

      Exceptional value and unbeatable location near I-25 and downtown.
      4465 Northpark Dr, Colorado Springs, CO 80907
      View Details
    • $15 SF/Yr
      50,000 SF

      980 Elkton Creative Office Space

      Colorado Springs Creative Office, 24,500 SF Available
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    • Contact for pricing

      Class A Medical Office Campus

      Prominent medical campus with high visibility and convenient access.
      1625 Medical Center Pt, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      3,643 SF

      Modern Office Space For Rent

      Modern office space with great access and visibility.
      985 W Fillmore St, Colorado Springs, CO 80907
      View Details
    • $14 SF/Yr
      2,376 SF

      Colorado Springs Office Space Available

      Office space available for lease in Colorado Springs, CO.
      1115 Elkton Dr, Colorado Springs, CO 80907
      View Details
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    Colorado Springs, CO 80907-6201
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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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