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    3704 N Academy Blvd Colorado Springs, CO 80917
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    3704 N Academy Blvd Colorado Springs, CO 80917

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    • Drive through restaurants
    • 2,675 SF
    • 1.05 lot acres
    For Lease
    View Listing →
    Freestanding Restaurant Building For Lease For Lease
    Contact for pricing

    Freestanding Restaurant Building For Lease

    Freestanding restaurant building, formerly Wendy's, available for lease.

    3704 N Academy Blvd, Colorado Springs, CO 80917
    View Listing
    Property ID
    US13-0693928
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wendy's / Restaurant / Take-out & Catering

    Property Details for 3704 N Academy Blvd

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.05 lot acres
    Property size
    2,675 SF
    Zone code
    C5
    Property type
    Drive through restaurants
    APN
    6327402034
    APU
    6327402034

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.758
    Latitude
    38.886
    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
    $12,826
    $197,790
    $44,660
    $242,450
    -
    $708,939
    $160,067
    $869,006

    Comparable in this City

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    • Value Estimation
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      3,533 SF

      5790 Carefree Cir

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      5790 Carefree Cir, Colorado Springs, CO 80917-4500
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    • Value Estimation
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      2,849 SF

      4441 Integrity Ctr Pt

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,849 SF
      4441 Integrity Ctr Pt, Colorado Springs, CO 80917
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    • Value Estimation by Request
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      4310 Barnes Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,770 SF
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    • Value Estimation by Request
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      4265 Austin Bluffs Pkwy

      Restaurants • 3,292 SF
      4265 Austin Bluffs Pkwy, Colorado Springs, CO 80917
      View Details
    • Value Estimation
      $510,000
      1,964 SF

      3408 Academy Blvd

      RESTAURANT • 1,964 SF
      3408 Academy Blvd, Colorado Springs, CO 80917-5086
      View Details

    Similar Nearby for Sale

    • $4,300,500
      1.67 Acres

      Prime Commercial Land on Academy

      High-visibility commercial property with redevelopment potential on 1.67 acres.
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    • $535,000

      Self-Service Car Wash Facility

      7-bay car wash with rented garage space and solar panels.
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    • $3,424,610
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      Retail Redevelopment Opportunity

      Value-add retail redevelopment opportunity in a high-growth area.
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    • $1,215,000
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      Retail Strip Center For Sale

      Small strip center near Academy & Austin Bluffs. Below market rents.
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    • $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
    • $3,750,000
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      Prime Colorado Springs Commercial Land

      5+ acre commercial land with development potential in Colorado Springs.
      4435 Chaparral Rd, Colorado Springs, CO 80917
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    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Restaurant Building For Lease

      Freestanding restaurant building, formerly Wendy's, available for lease.
      3704 N Academy Blvd, Colorado Springs, CO 80917
      View Details
    • Contact for pricing
      1,416 SF

      Retail Space Available For Rent

      Retail space available with equipment included in Colorado Springs.
      4307-4359 Integrity Center Pt, Colorado Springs, CO 80917
      View Details
    • Contact for pricing

      Retail Spaces For Lease

      Retail spaces available for lease in Colorado Springs, CO.
      5710-5780 N Carefree Cir, Colorado Springs, CO 80917
      View Details
    • Contact for pricing
      2,400 SF

      Prime Retail/Office/Medical Space Available

      2,400 SF retail/office/medical space off Academy Blvd.
      3470-3490 W Carefree Cir, Colorado Springs, CO 80917
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial space available for lease in Colorado Springs.
      3440 N Carefree Cir, 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
      11.1k
    • Visitors by month
      9.0k
    • Avg Time on site
      12 min
    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.

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