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    3235 Platte Ave Colorado Springs, CO 80909-6439

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    3235 Platte Ave Colorado Springs, CO 80909-6439

    View on Map
    • Retail space
    • 4,690 SF
    • 0.43 lot acres
    Off-Market
    Last Sale Dec 22, 2021
    $4,850,000
    Property ID
    US13-0311360
    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
    $4,725,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • GameStop / Electronics & Wireless Store
    • T-Mobile Experience Store / Mobile Phone Store / Electronics & Wireless Store
    • Liberty Tax / Tax Preparation
    • 4024 gray fox heights / Electronics & Wireless Store

    Property Details for 3235 Platte Ave

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.43 lot acres
    Property size
    4,690 SF
    Zone code
    C6
    Property type
    Retail space
    APN
    6415221004
    APU
    6415221004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,605,000
      ML approach
      $4,590,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.77
    Latitude
    38.8392
    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
    $13,288
    $67,670
    $183,220
    $250,890
    -
    $242,557
    $656,697
    $899,254

    Comparable in this City

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      $2,105,000
      6,480 SF

      353 Academy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,480 SF
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    • Value Estimation
      $695,000
      7,592 SF

      2280 Bijou St

      RETAIL STORES (PERSONAL SERVICES) • 7,592 SF
      2280 Bijou St, Colorado Springs, CO 80909-7026
      View Details
    • Value Estimation
      $1,490,000
      8,304 SF

      3030 Platte Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,304 SF
      3030 Platte Ave, Colorado Springs, CO 80909-6243
      View Details
    • Value Estimation
      $620,000
      5,040 SF

      303 Tia Juana St

      RETAIL STORES (PERSONAL SERVICES) • 5,040 SF
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    • Value Estimation
      $1,595,000
      13,784 SF

      1230 Academy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 13,784 SF
      1230 Academy Blvd, Colorado Springs, CO 80909-4422
      View Details
    • Value Estimation
      $695,000
      6,000 SF

      195 Academy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,000 SF
      195 Academy Blvd, Colorado Springs, CO 80909-6553
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,010 SF

      Retail Building Near E Platte

      2,010 SF retail building constructed in 1981 for sale.
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    • $949,500
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      Circle Drive Automotive/Retail Property

      Automotive/Retail property with multiple structures and fenced yard.
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      3,024 SF

      Warehouse with Fenced Yard

      3,024 SF warehouse with fenced yard for sale.
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      3,142 SF

      Colorado Springs Retail Building For Sale

      Retail building for sale in Colorado Springs area.
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      Freestanding Industrial Building For Sale

      5,277 SF industrial building with visibility and functionality.
      3930 Galley Rd, Colorado Springs, CO 80909
      View Details
    • Contact for pricing
      19,072 SF

      Versatile Commercial Space on Platte

      Adaptable space suitable for office, showroom, or light industrial use.
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    Similar Nearby for Lease

    • $15 SF/Yr
      1,900 SF

      Retail Space on Corner Lot

      Second floor retail space with high visibility and in-suite bathrooms.
      3902 Maizeland Rd, Colorado Springs, CO 80909
      View Details
    • $24 SF/Yr
      1,203 SF

      High-Traffic Retail Endcap Space

      Retail space in a high-traffic shopping center.
      1157-1237 N Circle Dr, Colorado Springs, CO 80909
      View Details
    • Contact for pricing
      5,070 SF

      Retail Space For Rent

      Retail space available with improvements coming in 2024.
      1701-1899 S Academy Blvd, Colorado Springs, CO 80909
      View Details
    • $18 SF/Yr
      1,493 SF

      Retail Space in Westside Plaza

      Retail space for lease in a prominent west side plaza.
      1915-1957 W Uintah St, Colorado Springs, CO 80909
      View Details
    • Contact for pricing
      31,330 SF

      Retail Space with Anchor Tenants

      Retail space available with existing anchor tenants and public transit.
      1305-1409 Academy Blvd, Colorado Springs, CO 80909
      View Details
    • $15 SF/Yr
      4,705 SF

      Retail Space in High-Visibility Center

      Retail space available in a Big Lots anchored center.
      1930-2070 S Academy Blvd, Colorado Springs, CO 80909
      View Details
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    Colorado Springs, CO 80909-6439
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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.

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    3235 Platte Ave, Colorado Springs, CO, 80909

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