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

    513 Academy Blvd Colorado Springs, CO 80909-8300

    • Turn key restaurants
    • 10,000 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0866435
    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

    • Olive Garden Italian Restaurant / Italian Restaurant / Caterer

    Property Details for 513 Academy Blvd

    Year built
    1989
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.42 lot acres
    Property size
    10,000 SF
    Zone code
    PBC P AO
    Property type
    Turn key restaurants
    APN
    6411302061
    APU
    6411302061

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $794,000
      Market price range: $729k - $1.49M

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.757
    Latitude
    38.8416
    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
    $22,815
    $81,830
    $342,960
    $424,790
    -
    $293,301
    $1,229,252
    $1,522,553

    Comparable in this City

    • Value Estimation by Request
      1,813 SF

      337 Cir Dr

      RESTAURANT • 1,813 SF
      337 Cir Dr, Colorado Springs, CO 80909-6230
      View Details
    • Value Estimation
      $585,000
      8,393 SF

      805 Citadel E Dr

      RESTAURANT • 8,393 SF
      805 Citadel E Dr, Colorado Springs, CO 80909-5304
      View Details
    • Value Estimation
      $545,000
      10,784 SF

      2165 Academy Pl

      RESTAURANT • 10,784 SF
      2165 Academy Pl, Colorado Springs, CO 80909
      View Details
    • Value Estimation
      $740,000
      12,015 SF

      2910 Platte Ave

      RESTAURANT • 12,015 SF
      2910 Platte Ave, Colorado Springs, CO 80909-6241
      View Details
    • Value Estimation
      $545,000
      4,883 SF

      3295 Platte Ave

      RESTAURANT • 4,883 SF
      3295 Platte Ave, Colorado Springs, CO 80909-6408
      View Details
    • Value Estimation by Request
      3,547 SF

      302 Academy Blvd

      RESTAURANT • 3,547 SF
      302 Academy Blvd, Colorado Springs, CO 80909-6606
      View Details

    Similar Nearby for Sale

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      Renovated Restaurant in Prime Location

      Fully renovated restaurant on 1.38 acres in high-traffic area.
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    • $250,000

      Turnkey Restaurant Opportunity For Sale

      Established Korean restaurant with high ratings and loyal customer base.
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    • $1,250,000

      Established Restaurant Building For Sale

      Restaurant building with high traffic, retail potential, and ample parking.
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    • Contact for pricing
      8,050 SF

      Colorado Springs Restaurant Opportunity

      8,050 SF Restaurant, 1.21 Acres
      805 Citadel Dr, Colorado Springs, CO 80909
      View Details
    • $699,900
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      Colorado Springs Bar & Restaurant

      Profitable Turnkey Eatery, Prime Location
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    • $865,000

      Established Restaurant Property For Sale

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    Similar Nearby for Lease

    • Contact for pricing
      1,922 SF

      Retail Space in Power Center

      Retail space in a busy Colorado Springs power center.
      801-945 N Academy Blvd, Colorado Springs, CO 80909
      View Details
    • Contact for pricing
      3,887 SF

      Academy Blvd Retail Space For Lease

      Prime Restaurant Space - Colorado Springs
      1107 Academy Blvd, Colorado Springs, CO 80909
      View Details
    • $15 SF/Yr
      45,354 SF

      Maizeland Retail Center Opportunity

      High-visibility retail/office space available.
      3814-3960 Maizeland Rd, Colorado Springs, CO 80909
      View Details
    • $9 SF/Yr
      25,130 SF

      Academy Tower Plaza Retail Center

      Prime Academy Blvd Retail Space Available
      201 Academy Blvd, Colorado Springs, CO 80909
      View Details
    • $1,400 /Mo
      625 SF

      East Platte Avenue Retail Opportunity

      Flexible retail opportunity with high visibility in Colorado Springs.
      2322-2332 E Platte Ave, Colorado Springs, CO 80909
      View Details
    • $8 SF/Yr
      16,250 SF

      Prime Colorado Springs Retail Space

      High-traffic storefront, excellent visibility
      2806 Pikes Peak Ave, Colorado Springs, CO 80909
      View Details

    Property Visit Statistics

    • Visits by month
      33.8k
    • Visitors by month
      31.5k
    • Avg Time on site
      62 min
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    513 Academy Blvd
    Colorado Springs, CO 80909-8300
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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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