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

    4020 Palmer Park Blvd Colorado Springs, CO 80909-3402

    • Medical offices
    • 25,632 SF
    • 2.02 lot acres
    OFF-MARKET
    Value Estimations
    $2,395,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0643154
    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

    • Jones Ralph T MD / Physician
    • Professional Accounting & Tax / Accounting Firm / Tax Preparation
    • Rae Bontekoe / Physician
    • Harold Okocha / Pharmacy
    • DDS Solution / Dental Office

    Property Details for 4020 Palmer Park Blvd

    Year built
    1971
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.02 lot acres
    Property size
    25,632 SF
    Zone code
    PBC SS
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    6402300022
    APU
    6402300022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.753
    Latitude
    38.8549
    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
    $21,511
    $132,570
    $268,420
    $400,990
    -
    $475,151
    $962,076
    $1,437,227

    Comparable in this City

    • Value Estimation
      $3,080,000
      18,604 SF

      2002 Lelaray St

      MEDICAL BUILDING • 18,604 SF
      2002 Lelaray St, Colorado Springs, CO 80909-2804
      View Details
    • Value Estimation
      $7,850,000
      23,105 SF

      3027 Cir Dr

      MEDICAL BUILDING • 23,105 SF
      3027 Cir Dr, Colorado Springs, CO 80909-1179
      View Details
    • Value Estimation
      $2,200,000
      13,582 SF

      2940 Cir Dr

      MEDICAL BUILDING • 13,582 SF
      2940 Cir Dr, Colorado Springs, CO 80909-1160
      View Details
    • Value Estimation by Request
      2,804 SF

      2210 Lelaray St

      MEDICAL BUILDING • 2,804 SF
      2210 Lelaray St, Colorado Springs, CO 80909-2220
      View Details
    • Value Estimation
      $1,650,000
      9,921 SF

      2141 Academy Cir

      MEDICAL BUILDING • 9,921 SF
      2141 Academy Cir, Colorado Springs, CO 80909-1686
      View Details
    • Value Estimation
      $4,165,000
      24,806 SF

      2960 Cir Dr

      MEDICAL BUILDING • 24,806 SF
      2960 Cir Dr, Colorado Springs, CO 80909-1163
      View Details

    Similar Nearby for Sale

    • $2,848,000
      22,165 SF

      Colorado Springs Medical Office

      Value-add medical office, strong NOI.
      2504 Pikes Peak Ave, Colorado Springs, CO 80909
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    • $549,000
      3,856 SF

      Academy Blvd Medical Office Building

      Colorado Springs medical office, 3856 SF, $549,000
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    • $2,350,000
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      Colorado Springs Medical Office Building

      Multi-Tenant Medical Office, Excellent Location
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    • $2,500,000
      13,273 SF

      Colorado Springs Medical Office Building

      13,273 SF Medical Office - Vacant
      1605 Union Blvd, Colorado Springs, CO 80909
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    • $2,310,000
      4,245 SF

      Office Medical Building For Sale

      Office and medical building available for sale or lease.
      3604 Galley Rd, Colorado Springs, CO 80909
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    • $179,000
      986 SF

      Office Condo Near Academy Blvd

      Office condo with recent upgrades and convenient location.
      3612 Galley Rd, Colorado Springs, CO 80909
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    Similar Nearby for Lease

    • $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
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    • $18 SF/Yr
      2,706 SF

      Medical Office in Audubon Campus

      Class A medical office space for lease in Colorado Springs.
      2960 N Circle Dr, Colorado Springs, CO 80909
      View Details
    • $1,885,000
      1,087 SF

      Medical Office Space Available

      Medical office building with easy access and tenant opportunities.
      2141 Academy Cir, Colorado Springs, CO 80909
      View Details
    • $18 SF/Yr
      784 SF

      Centrally Located Professional Office Suite

      Professional office suite near Constitution and North Academy Blvd.
      2130 Academy Cir, Colorado Springs, CO 80909
      View Details
    • $12 SF/Yr
      24,270 SF

      Versatile Flex Space Available

      Adaptable flex space suitable for office or warehouse use.
      4040 E Bijou St, Colorado Springs, CO 80909
      View Details
    • $19 SF/Yr
      233 SF

      Serviced Office Space Available

      Interior office space with shared amenities for rent.
      2020 N Academy Blvd, Colorado Springs, CO 80909
      View Details

    Property Visit Statistics

    • Visits by month
      5.1k
    • Visitors by month
      3.8k
    • Avg Time on site
      10 min
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    4020 Palmer Park Blvd
    Colorado Springs, CO 80909-3402
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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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