Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    511 Garden Of The Gods Rd Colorado Springs, CO 80907
    Back to Search
    Property profile & analytics

    511 Garden Of The Gods Rd, Colorado Springs, CO 80907

    View on Map
    • Drive through restaurants
    • 2,487 SF
    • 0.96 lot acres
    For Sale
    $2,200,000
    View Listing →
    Freestanding QSR with Drive-Thru For Sale
    $2,200,000
    2,967 SF

    Freestanding QSR with Drive-Thru

    Second-generation restaurant space in high-demand Garden of the Gods area.

    511 Garden of the Gods Rd, Colorado Springs, CO
    View Listing
    Property ID
    US13-0345703
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Freddy's Frozen Custard & Steakburgers / Restaurant / Take-out & Catering

    Property Details for 511 Garden Of The Gods Rd

    Year built
    1999
    Construction
    WOOD FRAME
    Lot size
    0.96 lot acres
    Zone code
    C6/CR
    Property type
    Drive through restaurants
    APN
    7325119025
    APU
    7325119025

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 14, 2022 $1,650,000 Kmg Ffc LLC The Lunsford Family Trust Special Warranty Deed —
    Nov 14, 2022 $2,200,000 Shirkmere Properties LLC Kmg Ffc LLC Special Warranty Deed —
    Aug 20, 2013 $1,015,000 Lunsford Family Trust Wessley Real Estate Gotg LLC Warranty Deed —
    Aug 20, 2013 — Wessley Real Estate Gotg LLC Wessley Real Estate Gotg LLC Quit Claim Deed · related —
    Jul 31, 2012 — Wessley Real Estate Group Gotg LLC Ge Capital Franchise Corporation Special Warranty Deed $371k · Intrust Bank NA
    Oct 14, 2010 — Ge Cap Franchise Finance Corp Deputy Public Te Of El Paso Cnty Trustees Deed · related —
    Sep 30, 2010 $500,000 Pacific Holdings LLC Deputy Public Te Of El Paso Cnty Certificate Of Purchase · related $1.8M
    Jun 20, 2005 $825,000 Pacific Holdings LLC Ch-co INC Grant Deed $1.4M · Colorado Capital Bank
    Dec 2, 1999 $969,000 Chi-co INC Captec Franchise Capital Grant Deed $969k · Captec Financial Group INC
    — — Pacific Holdings LLC — Deed Of Trust · related $300k · Colorado Capital Bank
    — — Pacific Holdings LLC — Deed Of Trust · related $1.8M · General Electric Capital Corp

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,035,000
      ML approach
      $2,040,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,517,000
      Market price range: $632k - $1.52M

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.832
    Latitude
    38.8957
    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
    $15,743
    $182,170
    $113,540
    $295,710
    -
    $652,929
    $406,943
    $1,059,872

    Comparable in this City

    • Value Estimation
      $940,000
      2,686 SF

      825 Fillmore St

      DRIVE-THRU RESTAURANT, FAST FOOD
      825 Fillmore St, Colorado Springs, CO 80907-6313
      View Details
    • Value Estimation
      $1,900,000
      1,997 SF

      1236 Fillmore St

      DRIVE-THRU RESTAURANT, FAST FOOD
      1236 Fillmore St, Colorado Springs, CO 80907
      View Details
    • Value Estimation
      $585,000
      5,086 SF

      434 Gdn Of The Gods Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      434 Gdn Of The Gods Rd, Colorado Springs, CO 80907-4218
      View Details
    • Value Estimation by Request
      1,172 SF

      2819 Nevada Ave

      DRIVE-THRU RESTAURANT, FAST FOOD
      2819 Nevada Ave, Colorado Springs, CO 80907-6222
      View Details
    • Value Estimation
      $640,000
      3,212 SF

      4530 Hilton Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD
      4530 Hilton Pkwy, Colorado Springs, CO 80907-3508
      View Details
    • Value Estimation by Request
      2,295 SF

      1104 Fillmore St

      DRIVE-THRU RESTAURANT, FAST FOOD
      1104 Fillmore St, Colorado Springs, CO 80907-6318
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,967 SF

      Freestanding QSR with Drive-Thru

      Second-generation restaurant space in high-demand Garden of the Gods area.
      511 Garden Of The Gods Rd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      3,707 SF

      Drive-Thru Restaurant Opportunity

      Drive-thru restaurant for sale with high traffic and demographics.
      4540 Centennial Blvd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      892 SF

      Fully Leased T-Gap Marketplace

      Stabilized retail center in desirable Patty Jewett area.
      2107 Templeton Gap Rd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      4,924 SF

      Versatile Flex Space with Showroom

      Adaptable commercial space with showroom, warehouse, and secure yard.
      2811-2811 N Prospect St, Colorado Springs, CO 80907
      View Details
    • $420,000

      Remodeled Commercial Space For Sale

      Versatile 5,751 sq ft commercial property in prime Colorado Springs location.
      3132 N Hancock Ave, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      2,196 SF

      Corner Lot Car Wash Opportunity

      High-traffic corner lot with existing car wash and development potential.
      2933 Sage St, Colorado Springs, CO 80907
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Restaurant Building For Lease

      Former Wendy's restaurant building available for lease.
      1104 E Fillmore St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,200 SF

      Former Drive-In Restaurant For Lease

      1,200 SF former Sonic Drive-In on 0.912 acre pad.
      317 E Fillmore St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing

      Shell Space for Commissary Kitchen

      Shell space suitable for a ghost or commissary kitchen.
      1025 Garden Of The Gods Rd, Colorado Springs, CO 80907
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, 419 SqFt.
      2201 N Weber St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing

      Retail/Flex Space with I-25 Access

      Highly visible retail/flex space with immediate I-25 access.
      1000 W Fillmore St, Colorado Springs, CO 80907
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Garden Of The Gods

      Retail space available for lease on Garden Of The Gods.
      975-1045 Garden Of The Gods Rd, Colorado Springs, CO 80907
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    511 Garden Of The Gods Rd
    Colorado Springs, CO 80907
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    511 Garden Of The Gods Rd, Colorado Springs, CO, 80907
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!