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Property profile & analytics
FOR LEASE
Strip malls
2828 N Powers Blvd Colorado Springs, CO 80922
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US13-0693999
For Lease
1 / 3
Contact for pricing
2828 N Powers Blvd, Colorado Springs, CO 80922
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Property summary
AI-generated overview
This exceptional retail property, Safeway Marketplace East, located at 2828 N Powers Blvd, Colorado Springs, CO 80922, offers 226,989 square feet of total building space. Currently, there are four available inline retail spaces ranging from 1,120 to 2,315 square feet, totaling 5,500 square feet of vacant space. The property boasts a strong tenant mix, anchored by Safeway and Kohl's, and further complemented by Michael's, Petco, and T-Mobile/Sprint, ensuring high foot traffic. Situated at the northwest corner of Powers Boulevard and Constitution Avenue, this center benefits from excellent visibility and accessibility along Colorado Springs' fastest-growing retail corridor. The property is zoned PBC/AO and is located in El Paso County, near the intersection of Barnes Rd and Chaparrel. This presents a unique opportunity for businesses seeking high-traffic exposure in a thriving retail environment. The property's strategic location and established tenant base make it an ideal investment for a variety of retail uses. Contact us today to learn more about this exceptional opportunity.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,594 SF
Lot
2.52 ac (109,771 SF)
Zoning code
PBC/CR AO
APN
6336418004
UPID
US13-0693999
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.38M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.15M
Owner & transaction history
Marketplace East P1 LLC
Marketplace East P1 LLC
1 recorded transaction
Zoning & alternative use
PBC/CR AO · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,745,000
6.5%
$4,380,000
7%
$4,065,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$5,070,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$4,955,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$4,400,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$3.15M
Range $2.83M – $3.46M · ±10%
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
$153 / 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
$1,155,060
Assessed 2023
Previous assessed
$1,155,060
+0.0% YoY
Assessed land
$207,340
Assessed improvement
$947,720
Land market value
$743,150
Improvement market value
$3,396,850
Total market value
$4,140,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Total area
20,594 SF
Lot
2.52 ac (109,771 SF)
Zoning code
PBC/CR AO
APN
6336418004
UPID
US13-0693999
Jurisdiction
EL PASO
Zoning & alternative use
PBC/CR AO · Colorado Springs, COZoning PBC/CR AO · permitted uses
PBC/CR AO · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$5.0M
OFFICE BUILDING
Est. value
$4.4M
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.52 ac
Current owner
From public records · entity-resolved
Marketplace East P1 LLC
Entity
Mailing address
PO BOX 847, CARLSBAD, CA 92018-0847
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Marketplace East P1 LLC
—
Deed Of Trust
related
$10,000,000 · Rga Reinsurance Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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