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

    3020 Colorado Ave Colorado Springs, CO 80904-2177

    • Strip malls
    • 10,100 SF
    • 0.66 lot acres
    OFF-MARKET
    Value Estimations
    $1,920,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0078967
    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

    • The Leechpit Records and Vintage / Arcade & Gaming Center / Electronics & Wireless Store
    • Macos Tacos Food Truck / Restaurant
    • The Herb Shoppe / (Bike/Boat/Book/etc) Store
    • Marley's Medicinals / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • The Hemp Shoppe: Farm Fresh CBD / Physician

    Property Details for 3020 Colorado Ave

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.66 lot acres
    Property size
    10,100 SF
    Zone code
    C5
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    7410102028
    APU
    7410102028

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,325,000
      6.5%
      $2,150,000
      7%
      $1,995,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,888,000
      Market price range: $365k - $2.61M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,690,000
      Current use
      AUTO REPAIR, GARAGE
      $2,485,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $2,430,000
      Change: -10% Conversion: Difficult
      OFFICE BUILDING
      $2,155,000
      Change: -20% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.871
    Latitude
    38.8526
    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
    $21,814
    $62,670
    $343,840
    $406,510
    -
    $224,640
    $1,232,388
    $1,457,028

    Comparable in this City

    • Value Estimation by Request
      637 SF

      2501 Colorado Ave Ste 1-c

      SHOPPING CENTER, STRIP CENTER • 637 SF
      2501 Colorado Ave Ste 1-c, Colorado Springs, CO 80904-3000
      View Details
    • Value Estimation
      $1,225,000
      5,950 SF

      2628 Colorado Ave

      SHOPPING CENTER, STRIP CENTER • 5,950 SF
      2628 Colorado Ave, Colorado Springs, CO 80904-3025
      View Details
    • Value Estimation by Request
      793 SF

      2501 Colorado Ave, Unit 8

      SHOPPING CENTER, STRIP CENTER • 793 SF
      2501 Colorado Ave, Colorado Springs, CO 80904-3070
      View Details
    • Value Estimation
      $20,400,000
      115,608 SF

      1768 Uintah St

      SHOPPING CENTER, STRIP CENTER • 115,608 SF
      1768 Uintah St, Colorado Springs, CO 80904-2958
      View Details
    • Value Estimation
      $7,390,000
      36,094 SF

      600 21st St

      SHOPPING CENTER, STRIP CENTER • 36,094 SF
      600 21st St, Colorado Springs, CO 80904-3762
      View Details
    • Value Estimation by Request
      427 SF

      2501 Colorado Ave, Unit 2

      SHOPPING CENTER, STRIP CENTER • 427 SF
      2501 Colorado Ave, Colorado Springs, CO 80904-3070
      View Details

    Similar Nearby for Sale

    • New
      $3,250,000
      0.69 Acres

      Colorado Springs Commercial Site For Sale

      Commercial site in high-traffic, tourism area near Highway 24.
      2616 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $1,056,000
      3,299 SF

      Old Colorado City Retail Condo

      Historic storefront, prime location
      2411 Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $593,000

      Colorado Springs Redevelopment Opportunity

      10-Unit Motel, Prime Westside Location
      3501 Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $725,000
      3,219 SF

      Restored Victorian with Mixed-Use Zoning

      Restored Victorian with flexible layout for retail, office, or residential.
      1824 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $2,200,000
      4,494 SF

      Turnkey Brewery/Restaurant in Old Colorado

      Former brewery/restaurant with equipment and infrastructure in high-demand location.
      2925 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $540,000
      2,120 SF

      Prime Commercial Space For Sale

      2,120 SF commercial space in high-demand west side market.
      1209-1211 W Colorado Ave, Colorado Springs, CO 80904
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      20,606 SF

      1625-1635 Uintah St

      Lifestyle centers • 20,606 SF
      1625-1635 Uintah St, Colorado Springs, CO 80904
      View Details
    • $12 SF/Yr
      21,632 SF

      Westside Plaza Retail Center

      Colorado Springs retail space available.
      1915 Uintah St, Colorado Springs, CO 80904
      View Details
    • Contact for pricing
      10,459 SF

      Retail Space Near King Soopers

      Retail space available in busy shopping center near King Soopers.
      1764-1840 W Uintah St, Colorado Springs, CO 80904
      View Details
    • $30 SF/Yr
      3,018 SF

      Historic Building in Old Colorado

      Renovated historic building with modern amenities and culinary kitchen.
      2902 W Colorado Ave, Colorado Springs, CO 80904
      View Details
    • $23 SF/Yr
      21,459 SF

      Colorado Springs Office/Retail Space

      Prime location, 3,926 sq ft, ample parking.
      600 21St St, Colorado Springs, CO 80904
      View Details
    • $2,400 /Mo
      1,000 SF

      Charming Retail/Office Space in Colorado

      Street-level retail/office with high visibility in Old Colorado City.
      2627 W Colorado Ave, Colorado Springs, CO 80904
      View Details

    Property Visit Statistics

    • Visits by month
      27.9k
    • Visitors by month
      18.6k
    • Avg Time on site
      12 min
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    3020 Colorado Ave
    Colorado Springs, CO 80904-2177
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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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