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Property profile & analytics
OFF-MARKET
Estimated value
$3,195,000
Outlet malls
2955 New Ctr Pt Colorado Springs, CO 80922-2806
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US13-0522571
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,372 SF
Lot
10.85 ac (472,626 SF)
Zoning code
PBC AO
APN
5331201012
UPID
US13-0522571
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
Current use
Occupant on record · Public records
-
Amazon Locker - Ylvi Courier Service Postal Service
-
Staples Travel Services (Bike/Boat/Book/etc) Store
-
SlangBros. Streetwear Clothing Store
-
Barbur 1745 (Bike/Boat/Book/etc) Store
-
Perfect R&R General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.59M
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$3.20M
Owner & transaction history
First & Main South 1 LLC · 22 yrs held
First & Main South 1 LLC
since 2004
1 recorded transaction
Zoning & alternative use
PBC AO · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.2M
+26.8%
Auto repair, garage
$4.8M
+17.1%
Medical building
$4.7M
+14.5%
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%
$3,885,000
6.5%
$3,585,000
7%
$3,330,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,070,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,165,000
Change: +27% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,770,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$4,660,000
Change: +14% · Conversion: Difficult
OFFICE BUILDING
$4,135,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$3.20M
Range $2.88M – $3.51M · ±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
$165 / 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
$2,041,000
Assessed 2023
Previous assessed
$2,041,000
+0.0% YoY
Assessed land
$936,220
Assessed improvement
$1,104,780
Land market value
$3,355,645
Improvement market value
$3,959,789
Total market value
$7,315,434
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
4
Stories
1
Total area
19,372 SF
Lot
10.85 ac (472,626 SF)
Zoning code
PBC AO
APN
5331201012
UPID
US13-0522571
Jurisdiction
EL PASO
Zoning & alternative use
PBC AO · Colorado Springs, COZoning PBC AO · permitted uses
PBC 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
RETAIL STORES Current
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$4.7M
OFFICE BUILDING
Est. value
$4.1M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
4
Lot
10.85 ac
Current owner
From public records · entity-resolved
First & Main South 1 LLC
Entity
Mailing address
111 S TEJON ST STE #222, COLORADO SPRINGS, CO 80903-2246
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
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
Jun 2, 2004
—
First & Main South 1 LLC
First & Main South LLC
Quit Claim Deed
related
$16,500,000 · Key Bank & Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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