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    415 Nevada Ave Colorado Springs, CO 80903-2109
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    Property profile & analytics

    415 Nevada Ave, Colorado Springs, CO 80903-2109

    View on Map
    • Hotels
    • 22,876 SF
    • 0.85 lot acres
    Off-Market
    Property ID
    US13-0854156
    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
    $3,435,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kinship Landing / Hotel & Motel
    • Homa at Kinship Landing / Restaurant
    • Memoirs True stories, unfiltered / Community Center

    Property Details for 415 Nevada Ave

    Year built
    2018
    Construction
    CONCRETE
    Lot size
    0.85 lot acres
    Zone code
    FBZ-COR
    Property type
    Hotels
    APN
    6418411009
    APU
    6418411009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 29, 2021 — Kinship Landing Ltd — Deed · related $4.1M · Pikes Peak Regional Development Corporat
    Jun 24, 2021 — Kinship Landing Ltd — Deed · related $6.7M · First National Bank Of Las Animas
    May 17, 2021 — Kinship Landing Ltd — Deed · related $4M · Kirkpatrick Bank
    Aug 21, 2019 — Kinship Landing Ltd — Grant Deed · related $10.6M · Brelf II LLC
    Dec 17, 2018 — Kinship Landing Ltd — Deed · related $2.8M · Firstbank
    Oct 20, 2017 $1,250,000 Kinship Landing Ltd Downtown Dev Group LLC Grant Deed $1M · John Weiss
    Sep 18, 2013 — Vicki Whaley Harmoney LLC Quit Claim Deed · related —
    Sep 18, 2013 $360,000 Downtown Dev Group LLC Alberthal,marilyn Grant Deed —
    Jan 10, 2013 — Marilyn Alberthal Deputy Public Te Of El Paso Cnty Trustees Deed · related —
    Dec 20, 2012 $1,225,000 Anton,nelson Trust Deputy Public Te Of El Paso Cnty Certificate Of Purchase —
    Oct 26, 2011 — Nelson Anton Trust — Grant Deed · related $2.6M · Marilyn Alberthal
    Mar 3, 2008 — Nelson Anton Trust Nelson Anton Living Trust Quit Claim Deed · related —
    — — Kinship Landing Ltd — Deed Of Trust · related $4.6M · Firstbank
    — — Kinship Landing Ltd — Deed Of Trust · related $2.8M · Firstbank
    — — Nelson Anton Trust — Deed Of Trust · related $150k · Alpern Myers Stuart LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,276,000
      Market price range: $297k - $3.53M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $5,540,000
      Current use
      OFFICE BUILDING
      $5,705,000
      Change: +3% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,630,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $5,505,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.821
    Latitude
    38.8274
    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
    $317,930
    $997,870
    $1,315,800
    -
    $1,139,544
    $3,576,610
    $4,716,154

    Comparable in this City

    • Value Estimation by Request
      60,803 SF

      8 Nevada Ave, Unit 201

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      $1,060,000
      17,180 SF

      505 Weber St

      HOTEL
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    • Value Estimation by Request
      40,372 SF

      121-123 Pike Peak Ave

      HOTEL
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      View Details
    • Value Estimation
      $4,670,000
      103,131 SF

      123 Cascade Ave

      HOTEL
      123 Cascade Ave, Colorado Springs, CO 80903-1449
      View Details
    • Value Estimation
      $4,735,000
      87,801 SF

      201 Kiowa St

      HOTEL
      201 Kiowa St, Colorado Springs, CO 80903-1706
      View Details
    • Value Estimation
      $9,580,000
      214,037 SF

      402 Tejon St

      HOTEL
      402 Tejon St, Colorado Springs, CO 80903-2112
      View Details

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      Land For Sale

      Land available for sale.
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      Free Standing Warehouse Building

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    Similar Nearby for Lease

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      3,298 SF

      Downtown Retail and Hotel Space

      Prime downtown location with modern guest rooms and conference space.
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      1,500 SF

      Renovated Retail Space on Tejon

      Desirable, newly renovated retail space in downtown Colorado Springs.
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      Office Space Near Downtown

      Office space for rent near downtown and central business district.
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      Medical/Office Building in Downtown Colorado

      Medical/office building in north downtown Colorado Springs with operating room.
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      Office Space Near Downtown

      Office suites available near downtown with common amenities.
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    • Contact for pricing
      3,862 SF

      Downtown Colorado Springs Office Suite

      Street-level office suite in downtown Colorado Springs with high visibility.
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    415 Nevada Ave
    Colorado Springs, CO 80903-2109
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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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