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

    3480 Academy Blvd Colorado Springs, CO 80917-5086

    • Outlet malls
    • 13,833 SF
    • 1.92 lot acres
    OFF-MARKET
    Value Estimations
    $1,580,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0843307
    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

    • Walgreens Pharmacy / Pharmacy
    • COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory
    • Walgreens / Cosmetics Store / Greeting Card Shop
    • Redbox / Movie Rental Kiosk / Dvd Store
    • Popstar Store / Wig Shop

    Property Details for 3480 Academy Blvd

    Year built
    1996
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.92 lot acres
    Property size
    13,833 SF
    Zone code
    PBC/CR
    Property type
    Outlet malls
    APN
    6334101023
    APU
    6334101023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.758
    Latitude
    38.8818
    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
    $27,414
    $345,350
    $163,380
    $508,730
    -
    $1,237,798
    $585,576
    $1,823,374

    Comparable in this City

    • Value Estimation
      $2,210,000
      25,048 SF

      3975 Academy Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 25,048 SF
      3975 Academy Blvd, Colorado Springs, CO 80917-5904
      View Details
    • Value Estimation
      $1,660,000
      13,119 SF

      3475 Carefree Cir

      WHOLESALE OUTLET, DISCOUNT STORE • 13,119 SF
      3475 Carefree Cir, Colorado Springs, CO 80917
      View Details
    • Value Estimation by Request
      1,920 SF

      4320 Barnes Rd Ste, Unit 120

      SHOPPING CENTER, STRIP CENTER • 1,920 SF
      4320 Barnes Rd Ste, Colorado Springs, CO 80917-1554
      View Details
    • Value Estimation
      $2,715,000
      19,600 SF

      3440 Carefree Cir

      SHOPPING CENTER, STRIP CENTER • 19,600 SF
      3440 Carefree Cir, Colorado Springs, CO 80917-5009
      View Details
    • Value Estimation
      $1,800,000
      10,375 SF

      5697 Barnes Rd

      SHOPPING CENTER, STRIP CENTER • 10,375 SF
      5697 Barnes Rd, Colorado Springs, CO 80917-1347
      View Details
    • Value Estimation
      $1,270,000
      12,345 SF

      2859 Murray Blvd

      SHOPPING CENTER, STRIP CENTER • 12,345 SF
      2859 Murray Blvd, Colorado Springs, CO 80917-3618
      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
      View Details
    • $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
    • $195,000
      1,072 SF

      Centrally Located Condo in Colorado

      Three-bedroom condo near hiking, shopping, and UCCS.
      3475 Rebecca Ln, 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
      View Details

    Similar Nearby for Lease

    • $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
      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
    • 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
    • $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
    • Contact for pricing
      3,075 SF

      Retail Space in Shopping Center

      Retail space available in shopping center anchored by Sprouts.
      5607 Barnes Rd, Colorado Springs, CO 80917
      View Details

    Property Visit Statistics

    • Visits by month
      1.1k
    • Visitors by month
      979
    • Avg Time on site
      21 min
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    3480 Academy Blvd
    Colorado Springs, CO 80917-5086
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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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