Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2940 Prospect St Colorado Springs, CO 80907-6374

    • Distribution centers
    • 9,975 SF
    • 1.08 lot acres
    OFF-MARKET
    Value Estimations
    $1,010,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0854396
    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

    • High Altitude Holiday Lighting LLC / Lighting Contractor / Service Establishment
    • United States Post Office / Post Office
    • United States Postal Service / Post Office / Logistics Service
    • LRITW / Web Hosting Company / Software Company
    • USA Carpet Care & Restoration / Service Establishment / Water Damage Restoration Service

    Property Details for 2940 Prospect St

    Year built
    1971
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.08 lot acres
    Property size
    9,975 SF
    Zone code
    M1
    Property type
    Distribution centers
    APN
    6332307035
    APU
    6332307035

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,347,000
      Market price range: $1.12M - $2.43M
      AI Estimate
      $689,000
      Market price range: $298k - $1.38M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,510,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.812
    Latitude
    38.8735
    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
    $80,720
    $186,400
    $267,120
    -
    $289,321
    $668,116
    $957,437

    Comparable in this City

    • Value Estimation by Request
      31,500 SF

      625-637 Elkton Dr

      Distribution properties • 31,500 SF
      625-637 Elkton Dr, Colorado Springs, CO 80907
      View Details
    • Value Estimation
      $2,375,000
      3,820 SF

      512 Fillmore Pl

      DISTRIBUTION WAREHOUSE • 3,820 SF
      512 Fillmore Pl, Colorado Springs, CO 80907
      View Details
    • Value Estimation
      $545,000
      2,844 SF

      3890 Mallow Rd

      DISTRIBUTION WAREHOUSE • 2,844 SF
      3890 Mallow Rd, Colorado Springs, CO 80907-4455
      View Details
    • Value Estimation
      $2,535,000
      9,990 SF

      4420 Mark Dabling Blvd

      DISTRIBUTION WAREHOUSE • 9,990 SF
      4420 Mark Dabling Blvd, Colorado Springs, CO 80907-4210
      View Details
    • Value Estimation
      $2,090,000
      16,000 SF

      3725 Interpark Dr

      DISTRIBUTION WAREHOUSE • 16,000 SF
      3725 Interpark Dr, Colorado Springs, CO 80907-5068
      View Details
    • Value Estimation
      $630,000
      6,000 SF

      3102 Beacon St

      DISTRIBUTION WAREHOUSE • 6,000 SF
      3102 Beacon St, Colorado Springs, CO 80907-5127
      View Details

    Similar Nearby for Sale

    • $5,750,999
      34,200 SF

      Centennial Blvd Industrial Property

      Colorado Springs warehouse, ideal for owner-user.
      5010 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • $675,000
      1,932 SF

      Nevada Ave Warehouse - $675K

      Colorado Springs industrial warehouse, vacant, owner-user opportunity.
      2702 Nevada Ave, Colorado Springs, CO 80907
      View Details
    • $5,000,000
      21,185 SF

      High-Visibility Colorado Springs Commercial Property

      Prime location with strong traffic exposure and versatile potential uses.
      2325 Sinton Rd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      101,042 SF

      Colorado Springs Industrial Facility

      Large industrial building, ample outdoor space.
      3605 North Stone Ave, Colorado Springs, CO 80907
      View Details
    • $1,500,000
      14,643 SF

      Colorado Springs Industrial Grow Buildings

      Two industrial buildings on 0.95 acres in Colorado Springs.
      3516-3524 N Tejon St, Colorado Springs, CO 80907
      View Details
    • $1,250,000
      8,327 SF

      Industrial Flex Space For Sale

      M-1 property featuring office space, overhead doors, and ample power.
      105 Talamine Ct, Colorado Springs, CO 80907
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      23,266 SF

      Prime Colorado Springs Office/Flex Space

      11,633 SF Available, Garden of the Gods Corridor
      1065 Garden Of The Gods Rd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      3,950 SF

      Colorado Springs Distribution Center

      14-Dock Industrial Building, 3,950 SF
      4355 Buckingham Dr, Colorado Springs, CO 80907
      View Details
    • $12 SF/Yr
      75,700 SF

      Colorado Springs West Office/Warehouse

      Modern I-25 space, flexible suites available.
      4137-4179 Sinton Rd, Colorado Springs, CO 80907
      View Details
    • $12 SF/Yr
      57,009 SF

      Garden Park Industrial Flex Space

      Colorado Springs industrial flex space for lease.
      1110-1120 Elkton Dr, Colorado Springs, CO 80907
      View Details
    • $12 SF/Yr
      13,056 SF

      Elkton Drive Distribution Center

      13,056 SF Industrial Space, Colorado Springs
      675 Elkton Dr, Colorado Springs, CO 80907
      View Details
    • $10 SF/Yr
      34,200 SF

      Colorado Springs Industrial Warehouse

      34,200 SF Distribution Center, 80 Parking Spaces
      5010 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2940 Prospect St
    Colorado Springs, CO 80907-6374
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.