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    3239 Centennial Blvd Colorado Springs, CO 80907-4077
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    Property profile & analytics

    3239 Centennial Blvd, Colorado Springs, CO 80907-4077

    View on Map
    • Drive through restaurants
    • 2,659 SF
    • 1.24 lot acres
    Off-Market
    Last Sale May 11, 2023
    $2,500,000
    Property ID
    US13-2755029
    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
    $2,465,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Starbucks / Cafe & Coffee Shop

    Property Details for 3239 Centennial Blvd

    Year built
    2022
    Lot size
    1.24 lot acres
    Zone code
    PUD
    Property type
    Drive through restaurants
    APN
    7336201024
    APU
    7336201024

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 11, 2023 $2,500,000 Cross Mountain Ranch Limited Partne Evergreen Centennial & Fillmore Ret Special Warranty Deed —
    Mar 8, 2022 — Starbucks Corporation Evergreen Centennial Fillmore Retal Lease —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,435,000
      ML approach
      $2,425,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,622,000
      Market price range: $676k - $1.62M

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.846
    Latitude
    38.8776
    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
    $123,570
    $263,960
    $387,530
    -
    $442,915
    $946,095
    $1,389,010

    Comparable in this City

    • Value Estimation by Request
      2,295 SF

      1104 Fillmore St

      DRIVE-THRU RESTAURANT, FAST FOOD
      1104 Fillmore St, Colorado Springs, CO 80907-6318
      View Details
    • Value Estimation by Request
      2,189 SF

      502 Gdn Of The Gods Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      502 Gdn Of The Gods Rd, Colorado Springs, CO 80907-3502
      View Details
    • Value Estimation by Request
      3,541 SF

      4295 Nevada Ave

      DRIVE-THRU RESTAURANT, FAST FOOD
      4295 Nevada Ave, Colorado Springs, CO 80907-4305
      View Details
    • Value Estimation by Request
      674 SF

      4450 Centennial Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD
      4450 Centennial Blvd, Colorado Springs, CO 80907-3703
      View Details
    • Value Estimation
      $580,000
      3,960 SF

      324 Fillmore St

      DRIVE-THRU RESTAURANT, FAST FOOD
      324 Fillmore St, Colorado Springs, CO 80907-6368
      View Details
    • Value Estimation
      $940,000
      2,686 SF

      825 Fillmore St

      DRIVE-THRU RESTAURANT, FAST FOOD
      825 Fillmore St, Colorado Springs, CO 80907-6313
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,967 SF

      Freestanding QSR with Drive-Thru

      Second-generation restaurant space in high-demand Garden of the Gods area.
      511 Garden Of The Gods Rd, Colorado Springs, CO 80907
      View Details
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      3,707 SF

      Drive-Thru Restaurant Opportunity

      Drive-thru restaurant for sale with high traffic and demographics.
      4540 Centennial Blvd, Colorado Springs, CO 80907
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      892 SF

      Fully Leased T-Gap Marketplace

      Stabilized retail center in desirable Patty Jewett area.
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      4,924 SF

      Versatile Flex Space with Showroom

      Adaptable commercial space with showroom, warehouse, and secure yard.
      2811-2811 N Prospect St, Colorado Springs, CO 80907
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    • $420,000

      Remodeled Commercial Space For Sale

      Versatile 5,751 sq ft commercial property in prime Colorado Springs location.
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      2,196 SF

      Corner Lot Car Wash Opportunity

      High-traffic corner lot with existing car wash and development potential.
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    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Restaurant Building For Lease

      Former Wendy's restaurant building available for lease.
      1104 E Fillmore St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,200 SF

      Former Drive-In Restaurant For Lease

      1,200 SF former Sonic Drive-In on 0.912 acre pad.
      317 E Fillmore St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing

      Shell Space for Commissary Kitchen

      Shell space suitable for a ghost or commissary kitchen.
      1025 Garden Of The Gods Rd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing

      Flex Space with Warehouse/Showroom

      Flex space with warehouse/showroom, ideal for contractors and light industrial.
      3120 N Century St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,511 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
    • Contact for pricing

      Grandview Marketplace Retail Space Available

      Retail spaces for lease in established shopping center.
      3230-3274 Centennail Blvd, Colorado Springs, CO 80907
      View Details

    Property Visit Statistics

    • Visits by month
      8.2k
    • Visitors by month
      7.0k
    • Avg Time on site
      16 min
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    Colorado Springs, CO 80907-4077
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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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