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    Property profile & analytics

    509 S Scott Ave Woodland Park, CO 80863

    • Office buildings
    • 12,301 SF
    • 0.80 lot acres
    For Lease
    View listing
    $1,899,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0592536
    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

    • The Sims Home Team - Keller Williams Partners Realty / Real Estate Agency
    • Kellie Case - The Case Advantage / Real Estate Agency
    • The Ripley Home Team / Real Estate Agency
    • Ashlyn Lanes / Alternative Medicine Practice
    • Dorman Real Estate Management - Woodland Park / Property Management Company / Real Estate Rental Agency

    Property Details for 509 S Scott Ave

    Year built
    2006
    Lot size
    0.80 lot acres
    Property size
    12,301 SF
    Zone code
    WP
    Property type
    Office buildings
    APN
    6331.193080010
    APU
    6331193080010

    Description

    This exceptional executive office space, located at 509 Scott Avenue in Woodland Park, Colorado, offers a unique opportunity for businesses seeking a prestigious address in a vibrant mountain community. The building, constructed in 2006, boasts a total of 12,301 square feet, with 450 square feet currently available for lease. The space is part of a multi-tenant building, providing a collaborative and professional environment. The property is zoned WPCC and situated in Teller County, offering easy access to Highway 24 and a variety of local amenities. The building enjoys a classic Colorado mountain aesthetic, creating a bright, comfortable, and efficient workspace. Current tenants include established businesses such as Keller Williams and Thrive Primary Care, underscoring the property's desirability and strong tenant base. The available suite presents 450 square feet of adaptable space, perfect for a small business or professional needing a well-located and attractive office. The zip code is 80863. This is an excellent opportunity to establish a presence in a thriving Colorado mountain town. The property's location at 38.9897551 latitude and -105.0482072 longitude provides convenient access to both local businesses and the scenic beauty of the area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,288,000
      Market price range: $1.14M - $2.39M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,640,000
      Current use
      COMMERCIAL (GENERAL)
      $1,575,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodland Park
    County
    Teller
    State
    Colorado
    Longitude
    -105.048
    Latitude
    38.9895
    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
    $31,330
    $41,320
    $375,780
    $417,100
    -
    $148,104
    $1,376,896
    $1,525,000

    Comparable in this City

    • Value Estimation by Request
      2,560 SF

      403 Baldwin St

      OFFICE BUILDING • 2,560 SF
      403 Baldwin St, Woodland Park, CO 80863-3154
      View Details
    • Value Estimation by Request
      3,565 SF

      391 Rampart Range Rd

      OFFICE BUILDING • 3,565 SF
      391 Rampart Range Rd, Woodland Park, CO 80863-2433
      View Details
    • Value Estimation by Request
      2,132 SF

      380 Henrietta Ave

      OFFICE BUILDING • 2,132 SF
      380 Henrietta Ave, Woodland Park, CO 80863-3145
      View Details
    • Value Estimation by Request
      2,913 SF

      602 Midland Ave

      OFFICE BUILDING • 2,913 SF
      602 Midland Ave, Woodland Park, CO 80863-1086
      View Details
    • Value Estimation by Request
      1,344 SF

      400 State Hwy 67

      OFFICE BUILDING • 1,344 SF
      400 State Hwy 67, Woodland Park, CO 80863-1094
      View Details
    • Value Estimation by Request
      500 SF

      301 Us Hwy 24

      OFFICE BUILDING • 500 SF
      301 Us Hwy 24, Woodland Park, CO 80863-3100
      View Details

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      Turnkey medical office condo in a highly visible location.
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    • $250,000

      Highway 24 Commercial Land Opportunity

      Highly visible commercial land ideal for various developments.
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    • $499,000
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      Prime commercial property in Woodland Park with highway frontage.
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    Similar Nearby for Lease

    • $1,899,000
      2,297 SF

      Well-Maintained Office Complex For Rent

      Office complex with high visibility and flexible layout options.
      509 S Scott Ave, Woodland Park, CO 80863
      View Details
    • $24 SF/Yr
      1,214 SF

      Retail Space in Woodland Park

      Retail space available in well-located Woodland Park shopping center.
      743-771 Gold Hill Pl, Woodland Park, CO 80863
      View Details
    • $20 SF/Yr
      15,000 SF

      Gold Hill Shopping Center: Retail Space

      Prime Woodland Park Retail, 13,508 SF Available
      741 Gold Hill Pl, Woodland Park, CO 80863
      View Details
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    509 S Scott Ave
    Woodland Park, CO 80863
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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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