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Property profile & analytics
FOR SALE
Warehouses
3505 N El Paso St, Colorado Springs, CO 80907
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US13-0326796
For Sale
1 / 2
$1,750,000
3505 N El Paso St, Colorado Springs, CO 80907
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,040 SF
Lot
0.62 ac (27,186 SF)
Zoning code
M1
APN
6329303006
UPID
US13-0326796
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.48M
CAP Approach
CAP
$1.47M
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.48M
Owner & transaction history
3505 N El Paso LLC · 3 yrs held
3505 N El Paso LLC
since 2023
Last sale
$1.5M
6 recorded transactions
Zoning & alternative use
M1 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.4M
+58.9%
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
$1,460,000
ML approach
$1,475,000
CAP Approach
CAP Return
Estimation
6%
$1,585,000
6.5%
$1,465,000
7%
$1,360,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,520,000
Current use
MEDICAL BUILDING
$2,415,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$1.48M
Range $1.33M – $1.63M · ±10% · vs last sale $1.50M (Mar 31 2023)
Last sale anchor
$1.50M
Mar 31 2023
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
$147 / 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
Assessed value
$231,430
Assessed 2023
Previous assessed
$231,430
+0.0% YoY
Assessed land
$37,920
Assessed improvement
$193,510
Land market value
$135,930
Improvement market value
$693,587
Total market value
$829,517
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Sale
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
10,040 SF
Lot
0.62 ac (27,186 SF)
Zoning code
M1
APN
6329303006
UPID
US13-0326796
Jurisdiction
EL PASO
Zoning & alternative use
M1 · Colorado Springs, CO
Zoning M1 · permitted uses
M1 · 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
WAREHOUSE, STORAGE Current
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$2.4M
WAREHOUSE, STORAGE Current
MEDICAL 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
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.62 ac
Current owner
From public records · entity-resolved
3505 N El Paso LLC
Entity
Mailing address
4703 NORTHPARK DR, COLORADO SPRINGS, CO 80918-3815
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2023
—
3505 N El Paso LLC
—
Deed
related
$623,000 · Colorado Lending Source Ltd
Mar 31, 2023
$1,500,000
3505 N El Paso LLC
Mcdonald Brothers Realty LLC
Special Warranty Deed
$755,700 · Anb Bank
Nov 21, 2019
$850,000
Mcdonald Brothers Realty LLC
Glmr LLC
Warranty Deed
$680,000 · Glmr LLC
Oct 1, 2002
$540,000
Glmr LLC
Wh Realty LLC
Grant Deed
$405,000 · Western National Bank
Mar 14, 2000
$389,500
Viper Equities LLC
Bmc West Corp
Grant Deed
related
$198,750 · Paragon Fin'l Investors LLC
—
—
Glmr LLC
—
Deed Of Trust
related
$44,000 · American National Bank & Trust
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.
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