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

    3440 Carefree Cir Colorado Springs, CO 80917

    • Strip malls
    • 19,600 SF
    • 2.16 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Apr 21, 2022
    $2,800,000
    Value Estimations
    $2,715,000
    Cap Rate Potential
    Location Intelligence
    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.

    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 Carefree Cir

    Year built
    2004
    Construction
    WOOD FRAME
    Lot size
    2.16 lot acres
    Property size
    19,600 SF
    Zone code
    C5/CR
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    6327409029
    APU
    6327409029

    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 valuation — 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

    Comparable in this City

    • Value Estimation
      $1,420,000
      9,591 SF

      4730 Barnes Rd

      SHOPPING CENTER, STRIP CENTER • 9,591 SF
      4730 Barnes Rd, Colorado Springs, CO 80917-1643
      View Details
    • Value Estimation
      $940,000
      8,100 SF

      3634 Jeannine Dr, Unit 3642

      SHOPPING CENTER, STRIP CENTER • 8,100 SF
      3634 Jeannine Dr, Colorado Springs, CO 80917-8001
      View Details
    • Value Estimation
      $1,150,000
      10,500 SF

      3450 Academy Blvd

      SHOPPING CENTER, STRIP CENTER • 10,500 SF
      3450 Academy Blvd, Colorado Springs, CO 80917-5086
      View Details
    • Value Estimation
      $4,745,000
      45,468 SF

      3958 Academy Blvd

      SHOPPING CENTER, STRIP CENTER • 45,468 SF
      3958 Academy Blvd, Colorado Springs, CO 80917-5919
      View Details
    • Value Estimation
      $1,625,000
      8,589 SF

      4815 Barnes Rd, Unit 4859

      SHOPPING CENTER, STRIP CENTER • 8,589 SF
      4815 Barnes Rd, Colorado Springs, CO 80917-1721
      View Details
    • Value Estimation
      $1,535,000
      11,800 SF

      3612 Jeannine Dr

      SHOPPING CENTER, STRIP CENTER • 11,800 SF
      3612 Jeannine Dr, Colorado Springs, CO 80917-8001
      View Details

    Similar Nearby for Sale

    • $1,215,000
      8,100 SF

      Retail Strip Center For Sale

      Small strip center near Academy & Austin Bluffs. Below market rents.
      3634-3642 Jeannine Dr, Colorado Springs, CO 80917
      View Details
    • $3,424,610
      22,064 SF

      Retail Redevelopment Opportunity

      Value-add retail redevelopment opportunity in a high-growth area.
      3265-3287 S Academy Blvd, Colorado Springs, CO 80917
      View Details
    • $1,673,086
      15,613 SF

      Retail Redevelopment Opportunity

      Value-add retail redevelopment opportunity in a high-growth area.
      3205-3233 S Academy Blvd, Colorado Springs, CO 80917
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    • $535,000

      Self-Service Car Wash Facility

      7-bay car wash with rented garage space and solar panels.
      3680 Jeannine Dr, Colorado Springs, CO 80917
      View Details
    • $1,300,000
      7,356 SF

      Academy Blvd Executive Office Building

      Colorado Springs Office Building - $1.3M
      2960 Academy Blvd, Colorado Springs, CO 80917
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    • $3,750,000
      5.01 Acres

      Prime Colorado Springs Commercial Land

      5+ acre commercial land with development potential in Colorado Springs.
      4435 Chaparral Rd, Colorado Springs, CO 80917
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,091 SF

      Prime Retail Space Available

      Premier retail space in central Colorado Springs with high visibility.
      3315-3541 N Academy Blvd, Colorado Springs, CO 80917
      View Details
    • $12 SF/Yr
      8,400 SF

      Retail Space on Academy Boulevard

      Centrally located retail shopping center with excellent visibility and access.
      3958 N Academy Blvd, Colorado Springs, CO 80917
      View Details
    • Contact for pricing
      106,684 SF

      Powers Pointe Retail Center

      Colorado Springs Strip Mall - 3,600 SF Available
      5617 Barnes Rd, Colorado Springs, CO 80917
      View Details
    • Contact for pricing
      1,920 SF

      Colorado Springs Retail Space Lease

      Retail space available for lease in Colorado Springs, Colorado.
      4320 Barnes Rd, Colorado Springs, CO 80917
      View Details
    • $18 SF/Yr
      2,400 SF

      Retail Space in Carefree Village

      Retail suites available in high-traffic location, flexible layouts.
      4715-4767 N Carefree Cir, Colorado Springs, CO 80917
      View Details
    • Contact for pricing
      1,200 SF

      5677-5687 Barnes Rd, Colorado Springs, CO

      Shopping centers • 1,200 SF
      5677-5687 Barnes Rd, Colorado Springs, CO 80917
      View Details
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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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