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    3440 N Carefree Cir Colorado Springs, CO 80917
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    Property profile & analytics

    3440 N Carefree Cir, Colorado Springs, CO 80917

    View on Map
    • Strip malls
    • 19,600 SF
    • 2.16 lot acres
    For Lease
    $12 SF/Yr
    View Listing →
    Commercial Space For Lease For Lease
    $12 SF/Yr

    Commercial Space For Lease

    Commercial space available for lease in Colorado Springs.

    3440 N Carefree Cir, Colorado Springs, CO 80917
    View Listing
    Property ID
    US13-1138951
    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
    $2,715,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Carefree Bingo / Bingo Hall
    • UnboundGames / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center
    • Peak Improv Theater / Nightclub / Theater & Performing Art Venue
    • Colorado Springs Worship Center, CLGI / Church
    • Bhakti Acupuncture / Medical Clinic / Alternative Medicine Practice

    Property Details for 3440 N Carefree Cir

    Year built
    2004
    Construction
    WOOD FRAME
    Lot size
    2.16 lot acres
    Zone code
    C5/CR
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    6327409029
    APU
    6327409029

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 7, 2022 — Carefree Circle Investments LLC — Deed · related $1.7M · Alpine Bank
    Apr 21, 2022 $2,800,000 Carefree Circle Investments LLC 3440 Carefree Cir N LLC Special Warranty Deed —
    Jul 30, 2021 $2,250,000 3440 Carefree Cir N LLC North Carefree LLC Special Warranty Deed $1.7M · The Pueblo Bank And Trust Co
    Mar 22, 2004 $100,000 North Carefree LLC Provident Coml Equities INC Grant Deed · related $1.4M · Vista Bank

    Description

    This exceptional 4,821 square foot medical office building, constructed in 2004, presents a fantastic leasing opportunity in Colorado Springs, Colorado. Located at 3440 N Carefree Cir, zip code 80917, this multi-tenant property boasts ample space, currently featuring 2,613 square feet of immediately available space. The building is zoned C5 and situated in El Paso County, offering convenient access and high visibility. The property includes a generous 125 parking spaces, providing a parking ratio of 6.40 spaces per 1,000 square feet. The interior features a desirable 10-foot ceiling height, creating a spacious and comfortable environment. The building's classification as both retail and office space, with a specific medical office subtype, makes it ideal for a variety of healthcare practices or related businesses. This is a rare opportunity to secure a well-located, modern medical office space in a thriving Colorado Springs community. The available space is ready for immediate occupancy. Inquire today to learn more about this exceptional property and its potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,590,000
      ML approach
      $2,665,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,185,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.76
    Latitude
    38.8829
    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
    $39,511
    $168,010
    $561,510
    $729,520
    -
    $602,170
    $2,012,596
    $2,614,766

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      Prime Commercial Land on Academy

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      Retail Spaces For Lease

      Retail spaces available for lease in Colorado Springs, CO.
      5710-5780 N Carefree Cir, Colorado Springs, CO 80917
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      1,200 SF

      5677-5687 Barnes Rd, Colorado Springs, CO 80917

      Shopping centers
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      Retail Space in Carefree Village

      Retail suites available in high-traffic location, flexible layouts.
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      Retail and Office Suites in Center

      Flexible suites offer turn-key and white-box options with abundant on-site parking and strong visibility for customer-facing use.
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      2,400 SF

      Prime Retail/Office/Medical Space Available

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      3470-3490 W Carefree Cir, Colorado Springs, CO 80917
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    View Listing
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    Colorado Springs, CO 80917
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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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