523 N Nevada Ave Colorado Springs, CO 80903
Property profile & analytics
523 N Nevada Ave Colorado Springs, CO 80903
- Medical Office Space
- 2,652 SF
- 0.22 lot acres
Property ID
US13-0580342
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.
Location Intelligence
Current Use by Public Records
- Vo-Sosdian Quynh DDS / Dental Office
- Sosdian Stephen DDS / Dental Office
Property Details for 523 N Nevada Ave
- Year built
- 1963
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.22 lot acres
- Property size
- 2,652 SF
- Zone code
- OR
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 6407419027
- APU
- 6407419027
Description
This 5,583 square foot medical office building in Colorado Springs, CO, is situated on a 0.22-acre lot and offers excellent visibility from Nevada Avenue. Built in 1963, the Class C property features 3,876 square feet of net rentable space, divided into two units, each with one bedroom and one bathroom. One unit is currently leased for $1,000 per month, while the other is vacant. The building includes a reception area, waiting room, two restrooms, and a 1,707 square foot basement. Additional amenities include a 1,224 square foot space plus a one-car garage, ample parking (3.14 spaces per 1,000 square feet) with additional street parking, and 600 AMP power. The property is zoned OR and is ideally suited for medical or general office use. Its location just north of downtown Colorado Springs provides easy access to various amenities and services. The asking price is $650,000, representing a price per square foot of $167.70. This presents a compelling investment opportunity with potential for increased rental income.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $500,000
- 6.5%
- $460,000
- 7%
- $425,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $537,000
Market price range: $151k - $538k -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $640,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $705,000 Change: +11% Conversion: Difficult
- OFFICE BUILDING
- $660,000 Change: +4% Conversion: Easy
- AUTO REPAIR, GARAGE
- $655,000 Change: +2% Conversion: Difficult
- RETAIL STORES
- $555,000 Change: -13% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.821
- Latitude
- 38.8417
- 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
$12,359
$28,140
$190,620
$218,760
-
$105,925
$776,396
$882,321
