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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Distribution centers
516 Colorado Ave Colorado Springs, CO 80905-1511
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US13-2697869
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1933
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,496 SF
Lot
0.19 ac (8,360 SF)
Zoning code
C6
APN
7413125018
UPID
US13-2697869
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
-
Inside Out Youth Services Child Welfare Organization Foster Care Service
-
The Dental Clinic of Colorado Springs Dental Office
-
KBG Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$595k
Comparable Approach
Comparable
$878k
Blend (final)
Blend
$910k
Owner & transaction history
Hns LLC · 8 yrs held
Hns LLC
since 2017
7 recorded transactions
Zoning & alternative use
C6 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+133.9%
Neighborhood: shopping center
$930,000
+62.0%
Auto repair, garage
$860,000
+49.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$640,000
6.5%
$595,000
7%
$550,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$575,000
Current use
COMMERCIAL (GENERAL)
$1,345,000
Change: +134% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$930,000
Change: +62% · Conversion: Moderate
AUTO REPAIR, GARAGE
$860,000
Change: +50% · Conversion: Easy
MEDICAL BUILDING
$840,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$745,000
Change: +30% · Conversion: Difficult
RETAIL STORES
$735,000
Change: +28% · Conversion: Moderate
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10%
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
$260 / 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
$9,999
Tax year 2023
Assessed value
$184,930
Assessed 2023
Previous assessed
$184,930
+0.0% YoY
Effective rate
5.41%
On assessed value
Assessed land
$32,070
Assessed improvement
$152,860
Land market value
$114,950
Improvement market value
$547,894
Total market value
$662,844
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1933
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
3,496 SF
Lot
0.19 ac (8,360 SF)
Zoning code
C6
APN
7413125018
UPID
US13-2697869
Jurisdiction
EL PASO
Zoning & alternative use
C6 · Colorado Springs, CO
Zoning C6 · permitted uses
C6 · 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
WAREHOUSE, STORAGE Current
Est. value
$575,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$930,000
AUTO REPAIR, GARAGE
Est. value
$860,000
MEDICAL BUILDING
Est. value
$840,000
OFFICE BUILDING
Est. value
$745,000
RETAIL STORES
Est. value
$735,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
1933
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Hns LLC
Entity
Mailing address
506 W COLORADO AVE, COLORADO SPRINGS, CO 80905-1511
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 20, 2022
—
Hns LLC
—
Deed
related
$1,500,000 · Assured Life Association
Oct 30, 2017
$1,100,000
Hns LLC
Cunningham Lemoyne R Trust
Grant Deed
$335,000 · Cunningham Lemoyne R Tr (pt)
Jul 21, 2017
—
Cunningham,lemoyne R Family Trust
Deputy Public Te Of El Paso Cnty|colson Springs In
Trustees Deed
—
Jun 22, 2017
$375,000
Colson Springs Investments LLC
Deputy Public Te Of El Paso Cnty
Certificate Of Purchase
$340,000
Oct 13, 2015
$400,000
Colson Springs Investments LLC
Cunningham Lemoyne R Trust
Warranty Deed
$340,000 · Cunningham Lemoyne R Tr (pt)
Nov 29, 2005
$620,800
Cunningham Lemoyne R Family
Fc Mortgage INC
Warranty Deed
$770,000 · Adams Bank & Trust
Sep 20, 2004
$210,406
Fc Mortgage INC
Deputy Public Te Of Elpaso Cnty
Trustees Deed
related
—
Apr 29, 2004
$210,406
Fc Mortgage INC
Deputy Public Te Of Elpaso Cnty
Trustees Deed
related
—
Jan 30, 2003
—
Thomas Gehling
Colorado Grill INC
Grant Deed
$162,500 · Csl Mortgage INC
—
—
Colorado Grill INC
—
Deed Of Trust
related
$101,500 · Individual
—
—
Fc Mortgage INC
—
Deed Of Trust
related
$3,500,000 · Community Banks Of Colorado
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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