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    3770 Airport Rd Colorado Springs, CO 80910-2628
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    Property profile & analytics

    3770 Airport Rd Colorado Springs, CO 80910-2628

    View on Map
    • Strip malls
    • 16,914 SF
    • 1.70 lot acres
    Off-Market
    Property ID
    US13-2738917
    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
    $1,645,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Family Dollar / Discount Store

    Property Details for 3770 Airport Rd

    Year built
    1994
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.70 lot acres
    Property size
    16,914 SF
    Zone code
    PBC UV SS AO
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    6415414108
    APU
    6415414108

    Description

    Academy Crossings, a single-story, 16,914 square foot retail center in Colorado Springs' South submarket, presents a unique investment opportunity. Built in 1994, this Class C property sits on a 1.7-acre lot and boasts excellent visibility and accessibility from North Academy Boulevard, offering easy access to major thoroughfares in all directions. The center currently features two suites, with one suite totaling 8,681 square feet currently vacant. The property is zoned PBC and has ample parking with 72 spaces available. The building offers excellent loading and unloading capabilities, making it ideal for various retail businesses. The property's diverse tenant mix currently includes grocery, flooring, plumbing, and home improvement businesses, indicating a strong potential for future tenants. The property's location near the Airport/South Academy cross streets ensures high visibility and convenient access for customers. The APN is 64154-14-108, located in El Paso County. This is a prime opportunity to acquire a well-established retail center with significant potential for growth and return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,236,000
      Market price range: $2.24M - $6.72M

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.759
    Latitude
    38.8258
    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
    $0.00
    $104,340
    $186,010
    $290,350
    -
    $373,963
    $666,712
    $1,040,675

    Comparable in this City

    • Value Estimation
      $1,215,000
      16,680 SF

      2511 Airport Rd

      SHOPPING CENTER, STRIP CENTER • 16,680 SF
      2511 Airport Rd, Colorado Springs, CO 80910-3119
      View Details
    • Value Estimation
      $2,980,000
      31,112 SF

      3705 Drennan Rd

      SHOPPING CENTER, STRIP CENTER • 31,112 SF
      3705 Drennan Rd, Colorado Springs, CO 80910-3873
      View Details
    • Value Estimation
      $2,340,000
      18,334 SF

      3730 Astrozon Blvd

      SHOPPING CENTER, STRIP CENTER • 18,334 SF
      3730 Astrozon Blvd, Colorado Springs, CO 80910-1040
      View Details
    • Value Estimation
      $950,000
      9,520 SF

      2585 Airport Rd

      SHOPPING CENTER, STRIP CENTER • 9,520 SF
      2585 Airport Rd, Colorado Springs, CO 80910-3119
      View Details
    • Value Estimation
      $1,780,000
      18,334 SF

      3750 Astrozon Blvd

      SHOPPING CENTER, STRIP CENTER • 18,334 SF
      3750 Astrozon Blvd, Colorado Springs, CO 80910-1044
      View Details
    • Value Estimation by Request
      3,640 SF

      2539 Delta Dr

      SHOPPING CENTER, STRIP CENTER • 3,640 SF
      2539 Delta Dr, Colorado Springs, CO 80910-1219
      View Details

    Similar Nearby for Sale

    • $1,790,000
      11,058 SF

      Midcentury Shopping Center For Sale

      Attractive shopping center with updated interiors and ample parking.
      831 S Circle Dr, Colorado Springs, CO 80910
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    • Contact for pricing
      30,060 SF

      Fully Leased Shopping Center Investment

      Fully leased shopping center with new roof and paved parking.
      3705 Drennan Rd, Colorado Springs, CO 80910
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    • $3,823,998
      16,914 SF

      Established Retail Investment Opportunity

      Two-tenant retail property with strong income and excellent accessibility.
      3770-3776 Airport Rd, Colorado Springs, CO 80910
      View Details
    • $700,000
      13,714 SF

      Office/Warehouse Building with Golf Course View

      Highly visible office/warehouse with retail potential and golf course views.
      715 S Circle Dr, Colorado Springs, CO 80910
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    • Contact for pricing

      South Academy Retail Corridor Land

      Infill development opportunity in a thriving retail corridor.
      1875 S Chelton Rd, Colorado Springs, CO 80910
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    Similar Nearby for Lease

    • $18 SF/Yr
      1,212 SF

      Retail Space in Spring Creek

      Retail space for lease in growing Spring Creek community.
      1640 S Circle Dr, Colorado Springs, CO 80910
      View Details
    • Contact for pricing
      4,490 SF

      Dominant Power Center Space

      Retail space available in dominant power center.
      507-907 N Academy Blvd, Colorado Springs, CO 80910
      View Details
    • $9 SF/Yr
      5,168 SF

      Retail Space on Academy Boulevard

      Retail space available in a well-located shopping center.
      201-223 N Academy Blvd, Colorado Springs, CO 80910
      View Details
    • Contact for pricing

      Fully Leased Shopping Center Investment

      Fully leased shopping center with new roof and paved parking.
      3705-3737 Drennan Rd, Colorado Springs, CO 80910
      View Details
    • $9 SF/Yr
      1,328 SF

      Retail Space on Academy Boulevard

      Retail space available in high-traffic Colorado Springs location.
      225-239 N Academy Blvd, Colorado Springs, CO 80910
      View Details
    • Contact for pricing
      2,105 SF

      Retail Space in Astrozon Plaza

      Retail and office space available in busy shopping center.
      3730-3754 Astrozon Blvd, Colorado Springs, CO 80910
      View Details
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    Colorado Springs, CO 80910-2628
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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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