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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2828 Powers Blvd Colorado Springs, CO 80922

    • Strip malls
    • 20,594 SF
    • 2.52 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0693999
    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.

    Current Use by Public Records

    • Strip malls

    Property Details for 2828 Powers Blvd

    Year built
    1996
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.52 lot acres
    Property size
    20,594 SF
    Zone code
    PBC/CR AO
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    6336418004
    APU
    6336418004

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • 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
      MEDICAL BUILDING
      $4,955,000
      OFFICE BUILDING
      $4,400,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.722
    Latitude
    38.8731
    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
    $0.00
    $207,340
    $947,720
    $1,155,060
    -
    $743,150
    $3,396,850
    $4,140,000

    Comparable in this City

    • Value Estimation
      $1,805,000
      8,040 SF

      5420 Tutt Blvd

      SHOPPING CENTER, STRIP CENTER • 8,040 SF
      5420 Tutt Blvd, Colorado Springs, CO 80922-2574
      View Details
    • Value Estimation
      $9,875,000
      27,804 SF

      3703 Bloomington St

      SHOPPING CENTER, STRIP CENTER • 27,804 SF
      3703 Bloomington St, Colorado Springs, CO 80922-3204
      View Details
    • Value Estimation
      $1,605,000
      8,897 SF

      3532 New Ctr Pt

      SHOPPING CENTER, STRIP CENTER • 8,897 SF
      3532 New Ctr Pt, Colorado Springs, CO 80922-2819
      View Details
    • Value Estimation
      $1,225,000
      9,769 SF

      7702 Barnes Rd

      SHOPPING CENTER, STRIP CENTER • 9,769 SF
      7702 Barnes Rd, Colorado Springs, CO 80922-3514
      View Details
    • Value Estimation
      $1,080,000
      8,022 SF

      3730 Bloomington St

      SHOPPING CENTER, STRIP CENTER • 8,022 SF
      3730 Bloomington St, Colorado Springs, CO 80922-3200
      View Details
    • Value Estimation
      $2,860,000
      23,009 SF

      3214 Cinema Pt, Unit 3292

      SHOPPING CENTER, STRIP CENTER • 23,009 SF
      3214 Cinema Pt, Colorado Springs, CO 80922-2811
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,200 SF

      Shoppes at the Ball Park: Prime Retail

      Thriving Colorado Springs shopping center. 100% occupied.
      6165 Tutt Blvd, Colorado Springs, CO 80922
      View Details
    • Contact for pricing
      7,200 SF

      Retail Property Near Stadium

      Retail property with easy access and excellent visibility.
      4305 Tutt Blvd, Colorado Springs, CO 80922
      View Details
    • Contact for pricing
      810 SF

      Colorado Springs Flex Space Units

      Pre-selling Industrial Condos, 810-1190 SF
      2510 Canada Dr, Colorado Springs, CO 80922
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    • $399,000

      New Townhome in Prime Location

      New three-bedroom townhome with office, granite countertops, and unfinished basement.
      5209 Palomino Ranch Pt, Colorado Springs, CO 80922
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    • Contact for pricing

      Powers Blvd Corridor Land Parcels

      Land parcels available along Powers Blvd corridor for sale.
      5870 Tutt Center Pt, Colorado Springs, CO 80922
      View Details
    • $450,000
      0.89 Acres

      Colorado Springs Industrial Land

      High-visibility industrial lot, 0.89 acres.
      6160 Barnes Rd, Colorado Springs, CO 80922
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      2,315 SF

      Retail Space For Lease

      Inline retail space available in Colorado Springs shopping center.
      2832-2888 N Powers Blvd, Colorado Springs, CO 80922
      View Details
    • $24 SF/Yr
      5,696 SF

      First & Main Town Center

      Retail space in a vibrant Colorado Springs town center.
      3215-3387 Cinema Pt, Colorado Springs, CO 80922
      View Details
    • $27 SF/Yr
      1,600 SF

      Retail Space For Lease

      Inline retail space available in Colorado Springs shopping center.
      2906-2920 N Powers Blvd, Colorado Springs, CO 80922
      View Details
    • $27 SF/Yr
      226,989 SF

      Safeway Marketplace Retail Space

      Prime Colorado Springs Retail Opportunity
      2828 Powers Blvd, Colorado Springs, CO 80922
      View Details
    • Contact for pricing
      5,850 SF

      Powers Boulevard Retail/Flex Space

      Retail/flex/showroom opportunity in the Powers Boulevard corridor.
      5850 Championship Vw, Colorado Springs, CO 80922
      View Details
    • Contact for pricing
      1,250 SF

      Shops @ Sand Hill: Prime Retail Space

      Colorado Springs Retail Shop - 1250 SF
      7875 Silicon Hts Colorado Spg, Colorado Springs, CO 80922
      View Details
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    Colorado Springs, CO 80922
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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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