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

    4010 Tutt Blvd, Unit 4016 Colorado Springs, CO 80922-2512

    • Auto shops
    • 35,128 SF
    • 20.05 lot acres
    OFF-MARKET
    Last Sale
    Apr 13, 2022
    Value Estimations
    $6,455,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-2488869
    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

    • Blink Charging Station / Electric Vehicle Charging Station
    • CarMax / Car Dealership

    Property Details for 4010 Tutt Blvd

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    20.05 lot acres
    Property size
    35,128 SF
    Zone code
    C6 P AO
    Property type
    Auto shops
    APN
    5330202009
    APU
    5330202009

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,473,000
      Market price range: $1.62M - $5.47M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $8,645,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $9,365,000
      Change: +8% Conversion: Difficult
      MEDICAL BUILDING
      $8,450,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $7,500,000
      Change: -13% Conversion: Difficult
      RETAIL STORES
      $7,380,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.717
    Latitude
    38.8902
    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
    $171,174
    $1,803,180
    $1,044,030
    $2,847,210
    -
    $6,462,997
    $3,742,059
    $10,205,056

    Comparable in this City

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    • Value Estimation by Request
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      3020 Powers Blvd

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      3020 Powers Blvd, Colorado Springs, CO 80922-2803
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      44,995 SF

      3115 Akers Dr

      AUTO REPAIR, GARAGE • 44,995 SF
      3115 Akers Dr, Colorado Springs, CO 80922
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    • Value Estimation
      $705,000
      8,075 SF

      3905 Tutt Blvd

      AUTO REPAIR, GARAGE • 8,075 SF
      3905 Tutt Blvd, Colorado Springs, CO 80922-2514
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    • Value Estimation by Request
      3,960 SF

      2865 New Ctr Pt

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      2865 New Ctr Pt, Colorado Springs, CO 80922-2808
      View Details
    • Value Estimation
      $580,000
      3,998 SF

      6020 Barnes Rd

      CAR WASH - AUTOMATED • 3,998 SF
      6020 Barnes Rd, Colorado Springs, CO 80922
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,200 SF

      Retail Property Near Stadium

      Retail property with easy access and excellent visibility.
      4305 Tutt Blvd, Colorado Springs, CO 80922
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    • Contact for pricing
      1,200 SF

      Shoppes at the Ball Park: Prime Retail

      Thriving Colorado Springs shopping center. 100% occupied.
      6165 Tutt Blvd, Colorado Springs, CO 80922
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      810 SF

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      Powers Blvd Corridor Land Parcels

      Land parcels available along Powers Blvd corridor for sale.
      5870 Tutt Center Pt, Colorado Springs, CO 80922
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      0.76 Acres

      Stetson Business Park: Prime CO Land

      Colorado Springs commercial land, ideal for medical or office use.
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    Similar Nearby for Lease

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      5,696 SF

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      Retail space in a vibrant Colorado Springs town center.
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    • $27 SF/Yr
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      Safeway Marketplace Retail Space

      Prime Colorado Springs Retail Opportunity
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    • $26 SF/Yr
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      Retail Space For Lease

      Inline retail space available in Colorado Springs shopping center.
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    • Contact for pricing
      1,250 SF

      Shops @ Sand Hill: Prime Retail Space

      Colorado Springs Retail Shop - 1250 SF
      7875 Silicon Hts Colorado Spg, Colorado Springs, CO 80922
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    • $20 SF/Yr
      1,200 SF

      Turn-key Professional Office Space

      Highly visible office/retail space in a growing Colorado Springs corridor.
      6130 Barnes Rd, Colorado Springs, CO 80922
      View Details
    • $27 SF/Yr
      1,600 SF

      Retail Space For Lease

      Inline retail space available in Colorado Springs shopping center.
      2906-2920 N Powers Blvd, Colorado Springs, CO 80922
      View Details
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    Colorado Springs, CO 80922-2512
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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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