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Property profile & analytics
OFF-MARKET
Estimated value
$4,530,000
Grocery and convenience stores
505 Cir Dr Colorado Springs, CO 80910
Entity Owned
1-yr Hold
Free & Clear
Property ID
US13-0961751
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,830 SF
Lot
4.57 ac (199,069 SF)
Zoning code
PBC
APN
6421119007
UPID
US13-0961751
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.67M
Comparable Approach
Comparable
$6.17M
Blend (final)
Blend
$4.53M
Owner & transaction history
Lindon Owner LLC · 1 yrs held
Lindon Owner LLC
since 2024
Last sale
$5.3M
3 recorded transactions
Zoning & alternative use
PBC · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.3M
+26.8%
Auto repair, garage
$4.9M
+17.1%
Medical building
$4.8M
+14.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Colorado Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Colorado Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,975,000
6.5%
$3,670,000
7%
$3,410,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,165,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,285,000
Change: +27% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,880,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$4,770,000
Change: +14% · Conversion: Difficult
OFFICE BUILDING
$4,235,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$4.53M
Range $4.08M – $4.98M · ±10% · vs last sale $5.30M (Jul 23 2024)
Last sale anchor
$5.30M
Jul 23 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$228 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$1,163,440
Assessed 2023
Previous assessed
$1,163,440
+0.0% YoY
Assessed land
$174,400
Assessed improvement
$989,040
Land market value
$625,077
Improvement market value
$3,544,950
Total market value
$4,170,027
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
19,830 SF
Lot
4.57 ac (199,069 SF)
Zoning code
PBC
APN
6421119007
UPID
US13-0961751
Jurisdiction
EL PASO
Zoning & alternative use
PBC · Colorado Springs, CO
Zoning PBC · permitted uses
PBC · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Colorado Springs. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$4.9M
MEDICAL BUILDING
Est. value
$4.8M
OFFICE BUILDING
Est. value
$4.2M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Lot
4.57 ac
Current owner
From public records · entity-resolved
Lindon Owner LLC
Entity
Free & Clear · 1 yrs held
Mailing address
288 CLAYTON ST STE #204, DENVER, CO 80206-4809
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2024
$5,300,000
Lindon Owner LLC
Valli Circle Retail LLC
Special Warranty Deed
—
Aug 20, 2024
$4,185,000
Valli Circle Retail LLC
Connecticut Colorado Partnership Ll
Special Warranty Deed
$3,082,500 · Firstbank
Nov 12, 2014
—
Connecticut Colorado Ptshp LLC
Connecticut-colorado Ptshp I
Quit Claim Deed
$2,370,000 · Cantor Com'l R/e Lndg
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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