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    Property profile & analytics

    3709 E Platte Ave Colorado Springs, CO 80909

    • Retail space
    • 19,072 SF
    • 0.68 lot acres
    For Sale
    View listing
    $1,650,000
    Last Sale
    Apr 23, 2021
    $1,300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0419697
    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

    • Business Furniture Systems / Used Office Furniture Store / Office Furniture Store
    • Mr Team Inc / Furniture Store
    • Ross Auction / Auction House
    • U-Haul Neighborhood Dealer / Truck Rental Agency / Trailer Rental Service

    Property Details for 3709 E Platte Ave

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.68 lot acres
    Property size
    19,072 SF
    Zone code
    C6 AO
    Property type
    Retail space
    APN
    6415100082
    APU
    6415100082

    Description

    This exceptional two-story office building, located at 3709 E Platte Ave in Colorado Springs, CO 80909, offers 19,072 square feet of space and boasts breathtaking Pikes Peak views. The property, zoned C6 AO, is a mixed-use building currently configured as a traditional office space. High visibility along Platte Ave and Academy Blvd ensures excellent exposure. The building features abundant natural light from large exterior windows, creating a bright and inviting atmosphere. A convenient small overhead door on the south side allows for easy transport of larger items. Currently, the second floor is occupied by a single tenant leasing 5,000 square feet, leaving approximately 14,000 square feet available for an owner-user or leasing opportunities. This presents a unique investment opportunity with its competitive asking price of $2,295,000, stunning views, and prime Colorado Springs location. The property's single tenancy and owner/user investment type make it an attractive option for various business needs. This is a must-see for discerning investors seeking a high-profile location with significant potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,235,000
      ML approach
      $1,250,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $980,000
      Market price range: $701k - $2.68M

    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
    38.8391
    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
    $20,942
    $59,900
    $330,700
    $390,600
    -
    $214,687
    $1,185,313
    $1,400,000

    Comparable in this City

    • Value Estimation by Request
      1,750 SF

      2104 Platte Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,750 SF
      2104 Platte Ave, Colorado Springs, CO 80909-5908
      View Details
    • Value Estimation
      $695,000
      7,592 SF

      2280 Bijou St

      RETAIL STORES (PERSONAL SERVICES) • 7,592 SF
      2280 Bijou St, Colorado Springs, CO 80909-7026
      View Details
    • Value Estimation
      $1,490,000
      8,304 SF

      3030 Platte Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,304 SF
      3030 Platte Ave, Colorado Springs, CO 80909-6243
      View Details
    • Value Estimation
      $620,000
      5,040 SF

      303 Tia Juana St

      RETAIL STORES (PERSONAL SERVICES) • 5,040 SF
      303 Tia Juana St, Colorado Springs, CO 80909-6222
      View Details
    • Value Estimation
      $2,105,000
      6,480 SF

      353 Academy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,480 SF
      353 Academy Blvd, Colorado Springs, CO 80909-6605
      View Details
    • Value Estimation
      $1,595,000
      13,784 SF

      1230 Academy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 13,784 SF
      1230 Academy Blvd, Colorado Springs, CO 80909-4422
      View Details

    Similar Nearby for Sale

    • $1,950,000
      16,184 SF

      Corner Retail Property For Sale

      Fully rented retail property on high-traffic corner location.
      3820 E Pikes Peak Ave, Colorado Springs, CO 80909
      View Details
    • $525,000
      2,010 SF

      Retail Building Near E Platte

      2,010 SF retail building constructed in 1981 for sale.
      227 Bonfoy Ave, Colorado Springs, CO 80909
      View Details
    • $1,650,000
      19,072 SF

      Versatile Commercial Space on Platte

      Adaptable space suitable for office, showroom, or light industrial use.
      3709 E Platte Ave, Colorado Springs, CO 80909
      View Details
    • $1,250,000

      Established Restaurant Building For Sale

      Restaurant building with high traffic, retail potential, and ample parking.
      1231 N Academy Blvd, Colorado Springs, CO 80909
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    • $1,000,000

      Liquor Business and Building For Sale

      Established liquor business with building and high traffic frontage.
      410 N Circle Dr, Colorado Springs, CO 80909
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    • $3,740,000
      29,915 SF

      Colorado Springs Industrial Flex Space

      29,915 SF Flex Warehouse - $125/SF
      1749 Academy Blvd, Colorado Springs, CO 80909
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      3,569 SF

      Retail Space in Westside Plaza

      Retail space available in Westside Plaza shopping center.
      1969-1973 W Uintah St, Colorado Springs, CO 80909
      View Details
    • Contact for pricing
      49,991 SF

      Former Sportsman's Venue Available

      Sublease opportunity: 49,991 SF standalone building in Colorado Springs.
      555 N Chelton Rd, Colorado Springs, CO 80909
      View Details
    • $12 SF/Yr
      45,560 SF

      Colorado Springs Medical Office Space

      Prime medical office suite, 1,190 sq ft available.
      1120 Circle Dr, Colorado Springs, CO 80909
      View Details
    • $15 SF/Yr
      1,900 SF

      Retail Space on Corner Lot

      Second floor retail space with high visibility and in-suite bathrooms.
      3902 Maizeland Rd, Colorado Springs, CO 80909
      View Details
    • $22 SF/Yr
      1,203 SF

      High-Traffic Retail Endcap Space

      Retail space in a high-traffic shopping center.
      1157-1237 N Circle Dr, Colorado Springs, CO 80909
      View Details
    • $18 SF/Yr
      2,411 SF

      Retail Space For Rent

      Retail space available with improvements coming in 2024.
      1701-1899 S Academy Blvd, Colorado Springs, CO 80909
      View Details
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    Colorado Springs, CO 80909
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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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