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Property profile & analytics
FOR SALE
Outlet malls
345 S Academy Blvd Colorado Springs, CO 80910
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US13-0360493
For Sale
1 / 2
$2,750,000
345 S Academy Blvd, Colorado Springs, CO 80910
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,919 SF
Lot
1.24 ac (54,014 SF)
Zoning code
PBC AO
APN
6414316007
UPID
US13-0360493
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Broyhill Furniture Showplace Furniture & Home Goods Home Decor Store
-
KTM Recycling Recycling Center Waste Management Facility
-
Conn's HomePlus Home Appliance Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.69M
Comparable Approach
Comparable
$2.52M
Blend (final)
Blend
$3.20M
Owner & transaction history
River Rock Church
River Rock Church
since 2025
Last sale
$3.3M
2 recorded transactions
Zoning & alternative use
PBC AO · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.3M
+26.8%
Auto repair, garage
$4.9M
+17.1%
Medical building
$4.8M
+14.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Colorado Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Colorado Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,995,000
6.5%
$3,685,000
7%
$3,425,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,185,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,310,000
Change: +27% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,905,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$4,790,000
Change: +14% · Conversion: Difficult
OFFICE BUILDING
$4,255,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$3.20M
Range $2.88M – $3.52M · ±10% · vs last sale $3.30M (Jul 20 2025)
Last sale anchor
$3.30M
Jul 20 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$161 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$22,785
Tax year 2023
Assessed value
$418,110
Assessed 2023
Previous assessed
$418,110
+0.0% YoY
Effective rate
5.45%
On assessed value
Assessed land
$97,200
Assessed improvement
$320,910
Land market value
$348,390
Improvement market value
$1,150,201
Total market value
$1,498,591
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Sale
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Total area
19,919 SF
Lot
1.24 ac (54,014 SF)
Zoning code
PBC AO
APN
6414316007
UPID
US13-0360493
Jurisdiction
EL PASO
Zoning & alternative use
PBC AO · Colorado Springs, CO
Zoning PBC AO · permitted uses
PBC AO · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Colorado Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$4.9M
MEDICAL BUILDING
Est. value
$4.8M
OFFICE BUILDING
Est. value
$4.3M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
River Rock Church
Entity
Mailing address
8313 HOLLY RD STE C, GRAND BLANC, MI 48439-2484
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2025
$3,300,000
River Rock Church
Store Master Funding Xxxvi LLC
Special Warranty Deed
$2,145,000 · Firstbank
Oct 20, 2025
$3,300,000
Store Master Funding Xxxvi LLC
Store Master Funding III LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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