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Property profile & analytics
OFF-MARKET
Estimated value
$38,420,000
Office buildings
650 Sybilla Ln Colorado Springs, CO 80921-3776
Entity Owned
4-yr Hold
Free & Clear
Property ID
US13-0876799
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
118,720 SF
Lot
22.34 ac (973,130 SF)
Zoning code
PIP1/CR HR
APN
6207401002
UPID
US13-0876799
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
-
Novva Data Centers - Colorado Springs Telecommunications Service Tech Support Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$38.31M
Blend (final)
Blend
$38.42M
Owner & transaction history
Novva Colorado LLC · 4 yrs held
Novva Colorado LLC
since 2021
Last sale
$38.5M
4 recorded transactions
Zoning & alternative use
PIP1/CR HR · Colorado Springs, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$52.0M
+66.4%
Apartment house (5+ units)
$48.5M
+55.2%
Commercial (general)
$45.7M
+46.3%
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
$38,370,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$31,220,000
Current use
RESTAURANT
$51,955,000
Change: +66% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$48,455,000
Change: +55% · Conversion: Easy
COMMERCIAL (GENERAL)
$45,675,000
Change: +46% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$31,640,000
Change: +1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$29,225,000
Change: -6% · Conversion: Difficult
MEDICAL BUILDING
$28,555,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$38.42M
Range $34.58M – $42.26M · ±10% · vs last sale $38.50M (Aug 18 2021)
Last sale anchor
$38.50M
Aug 18 2021
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
$324 / 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
$8,928,190
Assessed 2023
Previous assessed
$8,928,190
+0.0% YoY
Assessed land
$1,914,100
Assessed improvement
$7,014,090
Land market value
$6,860,567
Improvement market value
$25,140,074
Total market value
$32,000,641
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Total area
118,720 SF
Lot
22.34 ac (973,130 SF)
Zoning code
PIP1/CR HR
APN
6207401002
UPID
US13-0876799
Jurisdiction
EL PASO
Zoning & alternative use
PIP1/CR HR · Colorado Springs, CO
Zoning PIP1/CR HR · permitted uses
PIP1/CR HR · 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
$31.2M
RESTAURANT
Est. value
$52.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$48.5M
COMMERCIAL (GENERAL)
Est. value
$45.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$31.6M
AUTO REPAIR, GARAGE
Est. value
$29.2M
MEDICAL BUILDING
Est. value
$28.6M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Lot
22.34 ac
Current owner
From public records · entity-resolved
Novva Colorado LLC
Entity
Free & Clear · 4 yrs held
Mailing address
12382 GTWY PARK PL B300, LINDON, UT 84042
Ownership since
2021
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 18, 2021
$38,500,000
Novva Colorado LLC
Progressive Direct Insurance Compan
Special Warranty Deed
—
Nov 5, 2007
—
Progressive Direct Ins Co
Progressive Casualty Ins
Quit Claim Deed
—
Mar 2, 2006
$3,124,500
Progressive Casualty Ins Co
Northgate Properties LLC
Grant Deed
—
Jan 18, 2005
—
Record Owner
Owner,record
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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