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    318 Colorado Ave Colorado Springs, CO 80903-1949
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    Property profile & analytics

    318 Colorado Ave, Colorado Springs, CO 80903-1949

    View on Map
    • Strip malls
    • 6,020 SF
    • 0.14 lot acres
    Off-Market
    Last Sale Jul 7, 2023
    Property ID
    US13-0665726
    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.
    Value Estimations
    $985,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Brass Brewing Company / Production Facility / Brewery & Distillery
    • Springs In Bloom / (Bike/Boat/Book/etc) Store / Florist

    Property Details for 318 Colorado Ave

    Year built
    1926
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Zone code
    FBZ-CEN
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    6418119011
    APU
    6418119011

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 7, 2023 — Amaryllis LLC Kenneth R Brady Quit Claim Deed · related —
    Nov 3, 2016 — Amaryllis LLC Brady,kenneth R Quit Claim Deed · related —
    — — Kenneth R Brady — Deed Of Trust · related $201k · Citadel Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,385,000
      6.5%
      $1,280,000
      7%
      $1,190,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,605,000
      Current use
      OFFICE BUILDING
      $1,500,000
      Change: -6% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,480,000
      Change: -8% Conversion: Difficult
      MEDICAL BUILDING
      $1,450,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.819
    Latitude
    38.8326
    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
    $16,913
    $34,900
    $256,340
    $291,240
    -
    $125,100
    $918,792
    $1,043,892

    Comparable in this City

    • Value Estimation
      $2,135,000
      17,028 SF

      17 Bijou St

      SHOPPING CENTER, STRIP CENTER
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      View Details
    • Value Estimation
      $1,110,000
      8,000 SF

      333 Tejon St

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation
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      4,446 SF

      526 Tejon St

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation
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      5,389 SF

      326 Nevada Ave

      SHOPPING CENTER, STRIP CENTER
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    • Value Estimation
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      5,741 SF

      17 Kiowa St

      SHOPPING CENTER, STRIP CENTER
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      View Details
    • Value Estimation
      $635,000
      5,916 SF

      307 Hancock Ave, Unit 321

      SHOPPING CENTER, STRIP CENTER
      307 Hancock Ave, Colorado Springs, CO 80903-3740
      View Details

    Similar Nearby for Sale

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      Downtown Colorado Springs Land Opportunity

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    • $650,000

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      South Downtown Commercial Property For Sale

      Commercial property with flexible zoning and high frontage available for sale.
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    • $498,000

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      Land assembly with commercial building, house, and garage.
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    Similar Nearby for Lease

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      4,446 SF

      Downtown Colorado Springs Retail Space

      Freestanding building with high visibility in downtown Colorado Springs.
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    • $22 SF/Yr

      Downtown Retail Space For Lease

      1,618 SF retail space in walkable downtown location.
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    • $14 SF/Yr
      2,066 SF

      Downtown Colorado Springs Office Suite

      Prime Retail/Office Space - 2,066 SF
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      Retail Spaces Available For Rent

      Retail spaces ranging from 610 to 2,580 SqFt available.
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      Former Restaurant Space Available

      Former Wendy's restaurant space for lease near downtown.
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    • Contact for pricing
      5,354 SF

      Historic Retail Building in Downtown

      Freestanding retail building with ample parking and freeway visibility.
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      View Details
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    Colorado Springs, CO 80903-1949
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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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