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

    3003 Hancock Ave Colorado Springs, CO 80907-5710

    • Strip malls
    • 3,740 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0021531
    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

    • Chuck's Barber Shop / Barber Shop
    • Cuts By Chad / Barber Shop

    Property Details for 3003 Hancock Ave

    Year built
    1959
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.24 lot acres
    Property size
    3,740 SF
    Zone code
    C5
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    6332402020
    APU
    6332402020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.803
    Latitude
    38.8744
    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
    $29,730
    $89,270
    $119,000
    -
    $106,575
    $319,950
    $426,525

    Comparable in this City

    • Value Estimation
      $220,000
      3,537 SF

      2125 Weber St

      SHOPPING CENTER, STRIP CENTER • 3,537 SF
      2125 Weber St, Colorado Springs, CO 80907-6929
      View Details
    • Value Estimation
      $3,090,000
      5,700 SF

      4101-4105 Centennial Blvd

      SHOPPING CENTER, STRIP CENTER • 5,700 SF
      4101-4105 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • Value Estimation
      $1,260,000
      21,000 SF

      204 Mt Vw Ln

      SHOPPING CENTER, STRIP CENTER • 21,000 SF
      204 Mt Vw Ln, Colorado Springs, CO 80907-4367
      View Details
    • Value Estimation
      $250,000
      8,020 SF

      532 Gdn Of The Gods Rd

      SHOPPING CENTER, STRIP CENTER • 8,020 SF
      532 Gdn Of The Gods Rd, Colorado Springs, CO 80907-3502
      View Details
    • Value Estimation
      $595,000
      20,685 SF

      705 Gdn Of The Gods Rd

      SHOPPING CENTER, STRIP CENTER • 20,685 SF
      705 Gdn Of The Gods Rd, Colorado Springs, CO 80907-3505
      View Details
    • Value Estimation
      $230,000
      4,251 SF

      2970 Chestnut St

      SHOPPING CENTER, STRIP CENTER • 4,251 SF
      2970 Chestnut St, Colorado Springs, CO 80907-5813
      View Details

    Similar Nearby for Sale

    • $3,950,000
      14,730 SF

      Fully Leased T-Gap Marketplace

      Stabilized retail center in desirable Patty Jewett area.
      2107 Templeton Gap Rd, Colorado Springs, CO 80907
      View Details
    • $1,800,000
      3,707 SF

      Centennial Blvd Restaurant Opportunity

      Prime Colorado Springs drive-thru, 3,707 SF.
      4540 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • $1,325,000
      6,580 SF

      Colorado Springs Multifamily Investment

      8-Unit Multifamily & Retail, High NOI
      3129 El Paso St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      11,296 SF

      Colorado Springs Retail Opportunity

      Retail property available in Colorado Springs.
      1800 S Nevada Ave, Colorado Springs, CO 80907
      View Details
    • $1,695,000
      7,500 SF

      Centrally Located Automotive/Warehouse Opportunity

      Centrally located property ideal for automotive, warehouse, and manufacturing.
      3875 Interpark Dr, Colorado Springs, CO 80907
      View Details
    • $615,000
      2,196 SF

      Corner Lot Car Wash Opportunity

      High-traffic corner lot with existing car wash and development potential.
      2933 Sage St, Colorado Springs, CO 80907
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,558 SF

      Retail Space in Venetian Village

      Retail property for lease in Colorado Springs.
      3029-3123 N Hancock Ave, Colorado Springs, CO 80907
      View Details
    • $25 SF/Yr
      1,511 SF

      Retail Space in Westwind Marketplace

      Retail space available in established Colorado Springs shopping center.
      4425 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • $22 SF/Yr
      1,160 SF

      Retail Space in Westwind Marketplace

      Retail space for lease in established Colorado Springs shopping center.
      4315-4435 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • $26 SF/Yr
      1,400 SF

      Retail Space in Grandview Marketplace

      Retail space available in established shopping center anchored by King Soopers.
      3230 Centennial Blvd, 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
    • $17 SF/Yr
      3,900 SF

      Lincoln Center Retail/Creative Space

      Retail or creative space available in Lincoln Center.
      2727 N Cascade Ave, 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.
    3003 Hancock Ave
    Colorado Springs, CO 80907-5710
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.