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

    3240 Astrozon Blvd Colorado Springs, CO 80910-1032

    • Manufacturing properties
    • 61,180 SF
    • 6.92 lot acres
    OFF-MARKET
    Last Sale
    Jul 21, 2022
    $8,000,000
    Value Estimations
    $8,060,000
    Show details
    Cap Rate Potential
    7.5%
    Manufacturing properties
    Location Intelligence
    Property ID
    US13-1073741
    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

    • Bio Pappel International / Industrial Manufacturer / Production Facility

    Property Details for 3240 Astrozon Blvd

    Year built
    1981
    Construction
    STEEL FRAME
    Lot size
    6.92 lot acres
    Property size
    61,180 SF
    Zone code
    M1 CU
    Property type
    Manufacturing properties
    APN
    6434301028
    APU
    6434301028

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,405,000
      ML approach
      $8,350,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,255,000
      6.5%
      $8,540,000
      7%
      $7,930,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,976,000
      Market price range: $4.98M - $13.8M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $8,075,000
      Current use
      OFFICE BUILDING
      $13,065,000
      Change: +62% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.767
    Latitude
    38.7846
    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
    $172,410
    $452,770
    $625,180
    -
    $617,942
    $1,622,826
    $2,240,768

    Comparable in this City

    • Value Estimation
      $1,005,000
      11,200 SF

      3440 Drennan Rd

      MANUFACTURING (LIGHT) • 11,200 SF
      3440 Drennan Rd, Colorado Springs, CO 80910
      View Details
    • Value Estimation
      $1,315,000
      11,368 SF

      3260 Drennan Rd

      MANUFACTURING (LIGHT) • 11,368 SF
      3260 Drennan Rd, Colorado Springs, CO 80910
      View Details
    • Value Estimation by Request
      2,370 SF

      3420 Astrozon Blvd

      MANUFACTURING (LIGHT) • 2,370 SF
      3420 Astrozon Blvd, Colorado Springs, CO 80910
      View Details
    • Value Estimation by Request
      1,500 SF

      2541 Weston Rd

      DISTRIBUTION WAREHOUSE • 1,500 SF
      2541 Weston Rd, Colorado Springs, CO 80910-1022
      View Details
    • Value Estimation by Request
      1,440 SF

      3250 Drennan Industrial N Loop

      MINI-WAREHOUSE, STORAGE • 1,440 SF
      3250 Drennan Industrial N Loop, Colorado Springs, CO 80910-1074
      View Details
    • Value Estimation
      $605,000
      3,600 SF

      2512 Weston Rd

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      2512 Weston Rd, Colorado Springs, CO 80910-1023
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,085 SF

      Modern Industrial Building in Colorado

      Well-maintained 25,085 SF industrial building on 6.39 acres.
      3320-3370 Drennan Industrial Loop S, Colorado Springs, CO 80910
      View Details
    • $700,000

      Office Building with Warehouse Space

      Highly visible office and warehouse building with retail potential.
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    • Contact for pricing

      Office and Warehouse Space

      Functional office and warehouse space with highway and airport access.
      2513 Airport Rd, Colorado Springs, CO 80910
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    • $700,000

      Office Building and Warehouse Space

      Highly visible office building and warehouse with retail potential.
      715 S Circle Dr, Colorado Springs, CO 80910
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    • $2,850,000
      19,919 SF

      Warehouse with Showroom on Academy

      Well-maintained warehouse with showroom and high visibility on South Academy.
      345 S Academy Blvd, Colorado Springs, CO 80910
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    • $2,100,000
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      Printers Park Medical Office Building

      Prime Colorado Springs medical office, vacant, owner-user opportunity.
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    Similar Nearby for Lease

    • $6,600 /Mo
      9,636 SF

      Warehouse with Secured Lot Option

      9,636 SF warehouse with outside storage and highway access.
      3460 Kimball Cir, Colorado Springs, CO 80910
      View Details
    • $10 SF/Yr
      23,630 SF

      Academy Blvd Office & Warehouse

      Colorado Springs commercial space for lease.
      1050 Academy Blvd, Colorado Springs, CO 80910
      View Details
    • $11 SF/Yr
      4,800 SF

      Industrial Unit in Southeast Colorado

      Industrial unit with dock door and easy highway access.
      2408-2440 Hancock Expy, Colorado Springs, CO 80910
      View Details
    • $11 SF/Yr
      2,312 SF

      Warehouse and Office Space Available

      Lease opportunity: renovated office and warehouse space.
      2511-2529 Airport Rd, Colorado Springs, CO 80910
      View Details
    • $12 SF/Yr
      21,061 SF

      Automotive Center For Lease

      21,061 SF automotive center for lease on 2 acres.
      730 N Circle Dr, Colorado Springs, CO 80910
      View Details
    • $15 SF/Yr
      5,773 SF

      Drennan Loop Flex Space Available

      Versatile Industrial Space, 1200-2500 SF
      3270 Drennan Industrial Loop, Colorado Springs, CO 80910
      View Details
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    Colorado Springs, CO 80910-1032
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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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