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

    2920 N Academy Blvd Colorado Springs, CO 80917

    • Office buildings
    • 5,648 SF
    • 0.42 lot acres
    For Lease
    View listing
    $13 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0630211
    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

    • Warranty Title Inc / Title Company
    • Adaptive Therapy Solutions / Counselor
    • Mighty Dog Roofing / Gutter Cleaning Service / Siding Contractor
    • Patterson Tax & Accounting / Accounting Firm / Tax Preparation Service

    Property Details for 2920 N Academy Blvd

    Year built
    1978
    Construction
    WOOD FRAME
    Lot size
    0.42 lot acres
    Property size
    5,648 SF
    Zone code
    OC
    Property type
    Office buildings
    APN
    6334401017
    APU
    6334401017

    Description

    This exceptional executive office suite, located at 2920 N. Academy Boulevard in Colorado Springs, Colorado, offers 1,412 square feet of meticulously renovated space. Suite 200 is immediately available and features a welcoming reception area, three private offices, a sizable conference room (or fourth office), ample storage, and a convenient wet bar. The building boasts a prime location in El Paso County, with easy access to major thoroughfares. The space is ideal for a variety of professional businesses seeking a modern and functional workspace. This is a multi-tenant building, with the ground floor already occupied by established businesses. The suite's interior has been completely updated by the new ownership, providing a fresh and professional environment. Utilities are the responsibility of the tenant, including electricity, gas, and in-suite janitorial services. The property is zoned OC. This is a fantastic opportunity to secure a well-appointed office suite in a thriving Colorado Springs location. The address is 2920 N. Academy Boulevard, Colorado Springs, CO 80917. The property is situated at latitude 38.8743555 and longitude -104.757877.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $990,000
      6.5%
      $910,000
      7%
      $845,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $900,000
      Market price range: $773k - $1.83M
      AI Estimate
      $535,000
      Market price range: $262k - $1.03M

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.758
    Latitude
    38.8743
    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
    $31,230
    $120,290
    $151,520
    -
    $111,930
    $431,162
    $543,092

    Comparable in this City

    • Value Estimation
      $825,000
      5,110 SF

      3355 American Dr

      OFFICE BUILDING • 5,110 SF
      3355 American Dr, Colorado Springs, CO 80917-5737
      View Details
    • Value Estimation
      $515,000
      2,880 SF

      3320 Carefree Cir

      OFFICE BUILDING • 2,880 SF
      3320 Carefree Cir, Colorado Springs, CO 80917
      View Details
    • Value Estimation
      $3,585,000
      39,859 SF

      2790 Academy Blvd

      OFFICE BUILDING • 39,859 SF
      2790 Academy Blvd, Colorado Springs, CO 80917-5337
      View Details
    • Value Estimation
      $610,000
      4,840 SF

      3323 Carefree Cir, Unit 3329

      OFFICE BUILDING • 4,840 SF
      3323 Carefree Cir, Colorado Springs, CO 80917-2804
      View Details
    • Value Estimation by Request
      1,935 SF

      4560 Barnes Rd

      OFFICE BUILDING • 1,935 SF
      4560 Barnes Rd, Colorado Springs, CO 80917-1520
      View Details
    • Value Estimation
      $610,000
      2,032 SF

      3993 Academy Blvd

      OFFICE BUILDING • 2,032 SF
      3993 Academy Blvd, Colorado Springs, CO 80917-5928
      View Details

    Similar Nearby for Sale

    • $650,000
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      Colorado Springs Office Building For Sale

      Professional or medical office building in a high-demand Colorado Springs corridor.
      3525 American Dr, Colorado Springs, CO 80917
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    • $3,135,000
      21,120 SF

      Parkmoor Professional Office Building

      20,950 RSF office building in North Colorado Springs submarket.
      3100 N Academy Blvd, Colorado Springs, CO 80917
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    • $949,000
      7,263 SF

      Office Building on Academy Boulevard

      7,263 SF office building with owner-user opportunity.
      2950 N Academy Blvd, Colorado Springs, CO 80917
      View Details
    • $1,300,000
      7,356 SF

      Academy Blvd Executive Office Building

      Colorado Springs Office Building - $1.3M
      2960 Academy Blvd, Colorado Springs, CO 80917
      View Details
    • $1,395,000
      9,402 SF

      Academy Blvd Medical Office

      Colorado Springs medical office building, owner-user opportunity.
      3090 Academy Blvd, Colorado Springs, CO 80917
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    • $1,250,000
      7,943 SF

      Academy Blvd Executive Office Building

      Colorado Springs Office Building - 100% Leased
      3060 Academy Blvd, Colorado Springs, CO 80917
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      1,500 SF

      Professional Office Building For Lease

      Well-maintained Class B office building with flexible units available.
      3650 Rebecca Ln, Colorado Springs, CO 80917
      View Details
    • $12 SF/Yr
      31,476 SF

      Academy Park Center Office Suites

      Colorado Springs Executive/Medical Office Space
      3204 Academy Blvd, Colorado Springs, CO 80917
      View Details
    • $12 SF/Yr
      2,400 SF

      Prime Retail/Office/Medical Space Available

      2,400 SF retail/office/medical space off Academy Blvd.
      3470-3490 W Carefree Cir, Colorado Springs, CO 80917
      View Details
    • $11 SF/Yr
      3,636 SF

      Carefree Circle Medical Office Space

      Colorado Springs medical office building, fully vacant.
      3910 Carefree Cir, Colorado Springs, CO 80917
      View Details
    • $12 SF/Yr
      21,552 SF

      Executive Suites Colorado Springs

      Prime Office Space Available Now
      3100 Academy Blvd, Colorado Springs, CO 80917
      View Details
    • $14 SF/Yr
      1,924 SF

      Colorado Springs Retail/Office Space

      Office and retail spaces with high visibility and accessibility.
      4440-4474 Barnes Rd, Colorado Springs, CO 80917
      View Details
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    Colorado Springs, CO 80917
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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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