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Property profile & analytics
OFF-MARKET
Estimated value
$15,555,000
Office buildings
5818 Nevada Ave Colorado Springs, CO 80918-3504
Entity Owned
6-yr Hold
Free & Clear
Property ID
US13-1765150
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2020
Construction
CONCRETE
Total area
64,620 SF
Lot
4.32 ac (188,179 SF)
Zoning code
OC
APN
6318406005
UPID
US13-1765150
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
-
UCHealth Grandview Medical Center Medical Clinic
-
UCHealth Laboratory - Grandview Medical Laboratory Blood Testing Service
-
UCHealth Imaging - Grandview Medical Clinic
-
UCHealth - John Kupfner PA-C Physician
-
Dr. Ronald F. Hollis Jr, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.65M
Comparable Approach
Comparable
$15.67M
Blend (final)
Blend
$15.56M
Owner & transaction history
Pmak Colorado Springs II LLC · 6 yrs held
Pmak Colorado Springs II LLC
since 2020
4 recorded transactions
Zoning & alternative use
OC · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$24.9M
+103.5%
Neighborhood: shopping center
$17.2M
+41.0%
Auto repair, garage
$15.9M
+30.2%
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%
$16,955,000
6.5%
$15,650,000
7%
$14,530,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,215,000
Current use
COMMERCIAL (GENERAL)
$24,860,000
Change: +104% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$17,225,000
Change: +41% · Conversion: Difficult
AUTO REPAIR, GARAGE
$15,905,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$15,545,000
Change: +27% · Conversion: Easy
RETAIL STORES
$13,580,000
Change: +11% · Conversion: Moderate
Blend value · Realmo final
$15.56M
Range $14.00M – $17.11M · ±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
$241 / 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
$262,387
Tax year 2023
Assessed value
$4,797,410
Assessed 2023
Previous assessed
$4,797,410
+0.0% YoY
Effective rate
5.47%
On assessed value
Assessed land
$385,890
Assessed improvement
$4,411,520
Land market value
$1,383,116
Improvement market value
$15,811,884
Total market value
$17,195,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2020
Construction
CONCRETE
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
3
Total area
64,620 SF
Lot
4.32 ac (188,179 SF)
Zoning code
OC
APN
6318406005
UPID
US13-1765150
Jurisdiction
EL PASO
Zoning & alternative use
OC · Colorado Springs, CO
Zoning OC · permitted uses
OC · 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
OFFICE BUILDING Current
Est. value
$12.2M
COMMERCIAL (GENERAL)
Est. value
$24.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$17.2M
AUTO REPAIR, GARAGE
Est. value
$15.9M
MEDICAL BUILDING
Est. value
$15.5M
RETAIL STORES
Est. value
$13.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL 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
2020
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
3
Lot
4.32 ac
Current owner
From public records · entity-resolved
Pmak Colorado Springs II LLC
Entity
Free & Clear · 6 yrs held
Mailing address
800 W MADISON STSTE400, CHICAGO, IL 60607-2481
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2020
—
Pmak Colorado Springs II LLC
—
Deed
related
$16,924,740 · Lake Forest Bank & Trust Co NA
Jan 6, 2020
$2,350,600
Pmak Colorado Springs II LLC
Colorado Springs II Medical Pr
Grant Deed
related
—
Jun 21, 2019
—
Colorado Springs II Medical Pr
Colorado Springs I Medical Pro
Quit Claim Deed
related
—
Sep 8, 2015
—
Colorado Springs I Medical Pro
—
Deed Of Trust
related
$30,849,673 · Bank Of The West
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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