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    655 Spc Ctr Dr Colorado Springs, CO 80915-3604
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    655 Spc Ctr Dr Colorado Springs, CO 80915-3604

    View on Map
    • Office buildings
    • 93,955 SF
    • 5.73 lot acres
    Off-Market
    Last Sale Oct 5, 2020
    $24,250,000
    Property ID
    US13-1063850
    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.
    Value Estimations
    $22,425,000
    Show details
    Cap Rate Potential
    3.7%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 655 Spc Ctr Dr

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.73 lot acres
    Property size
    93,955 SF
    Zone code
    PUD AO
    Property type
    Office buildings
    APN
    6412402004
    APU
    6412402004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $26,965,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,440,000
      6.5%
      $15,175,000
      7%
      $14,095,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $30,367,000
      Market price range: $12.9M - $30.4M
      AI Estimate
      $13,543,000
      Market price range: $2.77M - $13.5M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $20,065,000
      Current use
      COMMERCIAL (GENERAL)
      $36,145,000
      Change: +80% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $25,040,000
      Change: +25% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $23,125,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $22,600,000
      Change: +13% Conversion: Easy
      RETAIL STORES
      $19,745,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.724
    Latitude
    38.8402
    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
    $325,288
    $400,420
    $5,545,060
    $5,945,480
    -
    $1,435,189
    $19,874,784
    $21,309,973

    Comparable in this City

    • Value Estimation
      $2,585,000
      16,976 SF

      4620 Edison Ave

      OFFICE BUILDING • 16,976 SF
      4620 Edison Ave, Colorado Springs, CO 80915-4125
      View Details
    • Value Estimation by Request
      39,356 SF

      805 Murray Blvd

      OFFICE BUILDING • 39,356 SF
      805 Murray Blvd, Colorado Springs, CO 80915-3452
      View Details
    • Value Estimation
      $2,625,000
      28,284 SF

      725 Clark Pl

      OFFICE BUILDING • 28,284 SF
      725 Clark Pl, Colorado Springs, CO 80915-4100
      View Details
    • Value Estimation
      $1,735,000
      11,520 SF

      5525 Platte Ave

      OFFICE BUILDING • 11,520 SF
      5525 Platte Ave, Colorado Springs, CO 80915-3605
      View Details
    • Value Estimation
      $1,140,000
      8,000 SF

      7185 Us Hwy 24

      OFFICE BUILDING • 8,000 SF
      7185 Us Hwy 24, Colorado Springs, CO 80915-9725
      View Details
    • Value Estimation
      $7,855,000
      50,970 SF

      737 Spc Ctr Dr, Unit 745

      OFFICE BUILDING • 50,970 SF
      737 Spc Ctr Dr, Colorado Springs, CO 80915-3603
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,000 SF

      Newly Constructed Office Building

      Clean, modern office building near Peterson Air Force Base.
      5030 Edison Ave, Colorado Springs, CO 80915
      View Details
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      42,484 SF

      High-Class Office Building For Sale

      42,484 SF office building suitable for owner-user or investor.
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      View Details
    • $1,795,000
      10,260 SF

      Multi-Tenant Flex Building For Sale

      Multi-tenant building with office, warehouse, and storage space.
      1130 Valley St, Colorado Springs, CO 80915
      View Details
    • Contact for pricing
      7,000 SF

      New Colorado Springs Flex Building

      7,000 SF flex building in new condition for sale.
      780 Seedling Ct, Colorado Springs, CO 80915
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space For Lease

      Office spaces available for lease in Colorado Springs.
      805 N Murray Blvd, Colorado Springs, CO 80915
      View Details
    • $13 SF/Yr
      10,740 SF

      Remodeled Office and Warehouse Space

      10,740 SF remodeled office/warehouse with Powers Blvd visibility.
      2370 N Powers Blvd, Colorado Springs, CO 80915
      View Details
    • Contact for pricing

      Colorado Springs Office/Industrial Space

      Office and industrial space available for rent in Colorado Springs.
      7363 Mcclain Pt, Colorado Springs, CO 80915
      View Details
    • $12 SF/Yr
      8,800 SF

      Warehouse with Drive-Through Doors

      8,800 SF flex space with fenced yard and drive-through doors.
      1670 Paonia St, Colorado Springs, CO 80915
      View Details
    • $2,500 /Mo
      1,575 SF

      Flex Space East of Powers

      Flex space with office, reception, showroom, and storage areas.
      6120 Stadia Ct, Colorado Springs, CO 80915
      View Details
    • Contact for pricing
      20,170 SF

      Technology Court Office Space Available

      High-quality office space in Patriot Park business park.
      980 Technology Ct, Colorado Springs, CO 80915
      View Details
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    Colorado Springs, CO 80915-3604
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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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