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Property profile & analytics
FOR LEASE
Strip malls
605 W Colorado Ave Colorado Springs, CO 80905
Individually Owned
6-yr Hold
Free & Clear
Property ID
US13-0339127
For Lease
Contact for pricing
605 W Colorado Ave, Colorado Springs, CO 80905
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,778 SF
Lot
0.78 ac (34,000 SF)
Zoning code
C5
APN
7413131001
UPID
US13-0339127
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
-
Paradise Sales Gun Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$391k
Blend (final)
Blend
$535k
Owner & transaction history
Monica E Hobbs · 6 yrs held
Monica E Hobbs
since 2020
Last sale
$500,000
3 recorded transactions
Zoning & alternative use
C5 · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$595,000
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $500k (May 18 2020)
Last sale anchor
$500k
May 18 2020
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
$50 / 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
Assessed value
$457,060
Assessed 2023
Previous assessed
$457,060
+0.0% YoY
Assessed land
$83,000
Assessed improvement
$374,060
Land market value
$297,500
Improvement market value
$1,340,717
Total market value
$1,638,217
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
10,778 SF
Lot
0.78 ac (34,000 SF)
Zoning code
C5
APN
7413131001
UPID
US13-0339127
Jurisdiction
EL PASO
Zoning & alternative use
C5 · Colorado Springs, COZoning C5 · permitted uses
C5 · Colorado Springs, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.78 ac
Current owner
From public records · entity-resolved
Monica E Hobbs
Individual
Free & Clear · 6 yrs held
Mailing address
320 CLF FLS CT, COLORADO SPRINGS, CO 80919-8025
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2020
—
Monica E Hobbs
Gregor Huesgen
Quit Claim Deed
related
—
Aug 31, 2000
$500,000
Gregor Huesgen
Kurie,shirley C
Grant Deed
—
—
—
Gregor Huesgen
—
Deed Of Trust
related
$154,702 · Pikes Peak National Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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