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

    5115 New Car Dr Colorado Springs, CO 80923-8852

    • Showrooms
    • 69,736 SF
    • 11.68 lot acres
    OFF-MARKET
    Value Estimations
    $11,050,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-1041009
    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

    • 6437 Vistancia Ave, Colorado Springs / Housing Development
    • Corwin Toyota Colorado Springs Parts Department / Auto Parts Store
    • Colorado Auto Credit / Law Firm / Accounting Firm
    • Corwin Toyota Colorado Springs / Car Dealership
    • Corwin Toyota Colorado Springs Service Department / Auto Repair Shop

    Property Details for 5115 New Car Dr

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.68 lot acres
    Property size
    69,736 SF
    Zone code
    C6 P AO
    Property type
    Showrooms
    APN
    6312219001
    APU
    6312219001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,970,000
      6.5%
      $11,975,000
      7%
      $11,120,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $11,042,000
      Market price range: $3.79M - $27.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.732
    Latitude
    38.9381
    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
    $165,386
    $1,178,180
    $754,840
    $1,933,020
    -
    $4,222,874
    $2,705,536
    $6,928,410

    Comparable in this City

    • Value Estimation by Request
      46,681 SF

      7370 Test Dr

      SHOW ROOM, WAREHOUSE • 46,681 SF
      7370 Test Dr, Colorado Springs, CO 80923
      View Details
    • Value Estimation
      $3,095,000
      89,482 SF

      5904 Pr Schooner Dr

      GYM, HEALTH SPA • 89,482 SF
      5904 Pr Schooner Dr, Colorado Springs, CO 80923-8851
      View Details
    • Value Estimation
      $3,050,000
      7,866 SF

      7345 Duryea Dr

      RETAIL STORES (PERSONAL SERVICES) • 7,866 SF
      7345 Duryea Dr, Colorado Springs, CO 80923-8840
      View Details
    • Value Estimation
      $9,225,000
      5,500 SF

      6445 Source Ctr Pt

      CONVENIENCE STORE • 5,500 SF
      6445 Source Ctr Pt, Colorado Springs, CO 80923-7657
      View Details
    • Value Estimation
      $4,840,000
      54,270 SF

      7055 Austin Blfs Pkwy

      GROCERY, SUPERMARKET • 54,270 SF
      7055 Austin Blfs Pkwy, Colorado Springs, CO 80923-9276
      View Details
    • Value Estimation
      $760,000
      4,480 SF

      5995 Dublin Blvd

      CONVENIENCE STORE • 4,480 SF
      5995 Dublin Blvd, Colorado Springs, CO 80923-7474
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Retail center with co-tenants and pad sites for sale.
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      3.29 Acres, Prime Development Site
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    Similar Nearby for Lease

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      Retail Space in Colorado Springs

      Retail space available in a high-traffic Colorado Springs location.
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      22,759 SF shopping center at high-traffic intersection.
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    • $25 SF/Yr
      75,000 SF

      St. Peregrine Pavilion Medical Office Space

      Prime Colorado Springs medical office suite available.
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    • $26 SF/Yr
      2,414 SF

      Medical Office Space Available

      Medical office space for rent near Penrose-St. Francis Medical Center.
      6051-6071 E Woodmen Rd, Colorado Springs, CO 80923
      View Details
    • $26 SF/Yr
      85,250 SF

      Prime Medical Office Space in Colorado Springs

      Class A medical suites, 1,823-5,681 SF available.
      6071 Woodmen Rd, Colorado Springs, CO 80923
      View Details
    • Contact for pricing
      6,372 SF

      Medical Office Attached to Hospital

      Medical office space attached to St. Francis Hospital.
      6011 E Woodmen Rd, Colorado Springs, CO 80923
      View Details

    Property Visit Statistics

    • Visits by month
      14.0k
    • Visitors by month
      11.5k
    • Avg Time on site
      49 min
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    5115 New Car Dr
    Colorado Springs, CO 80923-8852
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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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