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Property profile & analytics
OFF-MARKET
Estimated value
$2,815,000
Motels
512 Nevada Ave Colorado Springs, CO 80903-3923
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US13-0826887
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,871 SF
Lot
0.44 ac (19,000 SF)
Zoning code
FBZ-COR
APN
6418318010
UPID
US13-0826887
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
Current use
Occupant on record · Public records
-
Nevada Flats Hotel Colorado Springs Hotel & Motel Vacation Rental
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.71M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.23M
Blend (final)
Blend
$2.82M
Owner & transaction history
Nevada 512 LLC · 5 yrs held
Nevada 512 LLC
since 2021
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
FBZ-COR · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.7M
+10.1%
Office building
$3.5M
+3.0%
Auto repair, garage
$3.4M
+1.7%
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
$2,755,000
ML approach
$2,705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$3,360,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,695,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$3,460,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,415,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$3,335,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$2.82M
Range $2.53M – $3.10M · ±10% · vs last sale $2.90M (Jun 15 2021)
Last sale anchor
$2.90M
Jun 15 2021
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
$203 / 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
Tax billed
$7,044
Tax year 2023
Assessed value
$124,460
Assessed 2023
Previous assessed
$124,460
+0.0% YoY
Effective rate
5.66%
On assessed value
Assessed land
$79,520
Assessed improvement
$44,940
Land market value
$285,000
Improvement market value
$161,065
Total market value
$446,065
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
2
Units
34
Total area
13,871 SF
Lot
0.44 ac (19,000 SF)
Zoning code
FBZ-COR
APN
6418318010
UPID
US13-0826887
Jurisdiction
EL PASO
Zoning & alternative use
FBZ-COR · Colorado Springs, CO
Zoning FBZ-COR · permitted uses
FBZ-COR · 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
HOTEL/MOTEL Current
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.3M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL 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
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
2
Units
34
Lot
0.44 ac
Current owner
From public records · entity-resolved
Nevada 512 LLC
Entity
Mailing address
PO BOX 12031, DENVER, CO 80212-0031
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2023
—
Nevada 512 LLC
—
Deed
related
$50,000 · Alka Tandon
May 25, 2023
—
Nevada 512 LLC
—
Deed
related
$50,000 · Zen Magnets Lllc
May 11, 2023
—
Nevada 512 LLC
—
Deed
related
$15,000 · Andrea Perry
Mar 1, 2023
—
Nevada 512 LLC
—
Deed
related
$25,000 · Christopher Heim
Feb 13, 2023
—
Nevada 512 LLC
—
Deed
related
$50,000 · Joanna Delong
Dec 27, 2022
—
Nevada 512 LLC
—
Deed
related
$80,000 · Hyler Fortier
Sep 20, 2022
—
Nevada 512 LLC
—
Deed
related
$100,000 · Christopher Heim
Aug 22, 2022
—
Nevada 512 LLC
—
Deed
related
$50,000 · Austin Omalia
Dec 7, 2021
—
Nevada 512 LLC
—
Deed
related
$75,000 · Christopher Heim
Jun 15, 2021
$2,900,000
Nevada 512 LLC
Florek Investments LLC
Special Warranty Deed
$1,750,000 · Waypoint Bank
Jun 15, 2021
—
Nevada 512 LLC
—
Deed
related
$50,000 · Sara Delong
Aug 21, 2006
—
Florek Investments LLC
Florek Ents INC
Quit Claim Deed
related
—
Jun 6, 2005
—
Florek Enterprises INC
Walter Florek
Quit Claim Deed
related
$690,000 · Business Loan Center LLC
Jan 21, 2003
$750,000
Walter Florek
Florek,jan & Helena
Grant Deed
related
$774,500 · Amresco Independence Funding
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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