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

    602 Midland Ave Woodland Park, CO 80863-1086

    • Office buildings
    • 2,913 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0273076
    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

    • Best of Both Worlds Massage Therapy / Alternative Medicine Practice / Spa & Massage Center
    • Pett Karen L / Alternative Medicine Practice / Spa & Massage Center
    • Johnson Sharron / Counselor

    Property Details for 602 Midland Ave

    Year built
    1887
    Construction
    FRAME
    Lot size
    0.16 lot acres
    Property size
    2,913 SF
    Zone code
    WP
    Property type
    Office buildings
    APN
    6329.242160070
    APU
    6329242160070

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodland Park
    County
    Teller
    State
    Colorado
    Longitude
    -105.06
    Latitude
    38.9941
    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
    $6,225
    $7,970
    $74,900
    $82,870
    -
    $28,558
    $298,468
    $327,026

    Comparable in this City

    • Value Estimation by Request
      2,560 SF

      403 Baldwin St

      OFFICE BUILDING • 2,560 SF
      403 Baldwin St, Woodland Park, CO 80863-3154
      View Details
    • Value Estimation by Request
      3,565 SF

      391 Rampart Range Rd

      OFFICE BUILDING • 3,565 SF
      391 Rampart Range Rd, Woodland Park, CO 80863-2433
      View Details
    • Value Estimation by Request
      2,132 SF

      380 Henrietta Ave

      OFFICE BUILDING • 2,132 SF
      380 Henrietta Ave, Woodland Park, CO 80863-3145
      View Details
    • Value Estimation by Request
      1,344 SF

      400 State Hwy 67

      OFFICE BUILDING • 1,344 SF
      400 State Hwy 67, Woodland Park, CO 80863-1094
      View Details
    • Value Estimation by Request
      500 SF

      301 Us Hwy 24

      OFFICE BUILDING • 500 SF
      301 Us Hwy 24, Woodland Park, CO 80863-3100
      View Details
    • Value Estimation by Request
      2,844 SF

      380 Boundary St

      OFFICE BUILDING • 2,844 SF
      380 Boundary St, Woodland Park, CO 80863-1393
      View Details

    Similar Nearby for Sale

    • $600,000
      4,936 SF

      Woodland Park Office Building

      Fully occupied office building in Woodland Park, Colorado.
      150 Morning Sun Dr, Woodland Park, CO 80863
      View Details
    • $599,900
      0.69 Acres

      Two Buildings on 0.7 Acres

      Commercial property with two buildings and Neighborhood Commercial zoning.
      500 Rampart Range Rd, Woodland Park, CO 80863
      View Details
    • $515,000

      Woodland Park Medical Office Condo

      Turnkey medical office condo in a highly visible location.
      101 Sundial Dr, Woodland Park, CO 80863
      View Details
    • $247,000
      0.22 Acres

      Prime Commercial Property, Woodland Park

      Highly visible commercial property ideal for offices, salons, or retail.
      607 S Baldwin St, Woodland Park, CO 80863
      View Details
    • $1,800,000
      8.41 Acres

      Woodland Park Commercial Land Opportunity

      8.41 Acres, PUD Zoning, Mountain Views
      0 Lucky Lady Dr, Woodland Park, CO 80863
      View Details
    • $950,000
      1.42 Acres

      Woodland Park Residential Land

      1.42 Acres, 11 Lots, Build Ready
      1300 Longs Pt, Woodland Park, CO 80863
      View Details

    Similar Nearby for Lease

    • $1,899,000
      2,297 SF

      Well-Maintained Office Complex For Rent

      Office complex with high visibility and flexible layout options.
      509 S Scott Ave, Woodland Park, CO 80863
      View Details
    • $24 SF/Yr
      1,214 SF

      Retail Space in Woodland Park

      Retail space available in well-located Woodland Park shopping center.
      743-771 Gold Hill Pl, Woodland Park, CO 80863
      View Details
    • $20 SF/Yr
      15,000 SF

      Gold Hill Shopping Center: Retail Space

      Prime Woodland Park Retail, 13,508 SF Available
      741 Gold Hill Pl, Woodland Park, CO 80863
      View Details

    Property Visit Statistics

    • Visits by month
      1.3k
    • Visitors by month
      1.7k
    • Avg Time on site
      31 min
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    602 Midland Ave
    Woodland Park, CO 80863-1086
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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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