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

    66 2nd St Monument, CO 80132-7907

    • Office buildings
    • 2,020 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Feb 27, 2020
    $300,000
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    6.2%
    Office buildings
    Location Intelligence
    Property ID
    US13-1265234
    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

    • Office buildings

    Property Details for 66 2nd St

    Year built
    1901
    Construction
    WOOD FRAME
    Lot size
    0.14 lot acres
    Property size
    2,020 SF
    Zone code
    DB
    Property type
    Office buildings
    APN
    7115407002
    APU
    7115407002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $335,000
      ML approach
      $370,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $350,000
      6.5%
      $320,000
      7%
      $300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $407,000
      Market price range: $285k - $653k
      AI Estimate
      $342,000
      Market price range: $139k - $503k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $435,000
      Current use
      AUTO REPAIR, GARAGE
      $545,000
      Change: +25% Conversion: Difficult
      MEDICAL BUILDING
      $490,000
      Change: +12% Conversion: Easy
      RETAIL STORES
      $475,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Monument
    County
    El Paso
    State
    Colorado
    Longitude
    -104.873
    Latitude
    39.0912
    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
    $7,205
    $18,980
    $90,650
    $109,630
    -
    $68,013
    $324,898
    $392,911

    Comparable in this City

    • Value Estimation
      $410,000
      3,579 SF

      166 2nd St

      OFFICE BUILDING • 3,579 SF
      166 2nd St, Monument, CO 80132
      View Details
    • Value Estimation by Request
      64 SF

      Moveen Hts

      OFFICE BUILDING • 64 SF
      Moveen Hts, Monument, CO 80132
      View Details
    • Value Estimation
      $270,000
      1,250 SF

      430 Beacon Lite Rd, Unit 125

      OFFICE BUILDING • 1,250 SF
      430 Beacon Lite Rd, Monument, CO 80132-9182
      View Details
    • Value Estimation
      $360,000
      11,290 SF

      1850 Woodmoor Dr

      OFFICE BUILDING • 11,290 SF
      1850 Woodmoor Dr, Monument, CO 80132-9092
      View Details
    • Value Estimation
      $880,000
      5,104 SF

      1840 Woodmoor Dr

      OFFICE BUILDING • 5,104 SF
      1840 Woodmoor Dr, Monument, CO 80132-9091
      View Details
    • Value Estimation
      $345,000
      1,765 SF

      16055 Old Frst Pt Ste, Unit 203

      OFFICE BUILDING • 1,765 SF
      16055 Old Frst Pt Ste, Monument, CO 80132-8671
      View Details

    Similar Nearby for Sale

    • $1,990,000
      13,088 SF

      Monument Office Building For Sale

      13,088 SF multi-tenant office building in Monument, Colorado.
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      View Details
    • $995,000
      2,736 SF

      Renovated Commercial Property in Monument

      Fully renovated commercial property in downtown Monument, move-in ready condition.
      267 Washington St, Monument, CO 80132
      View Details
    • Contact for pricing
      450.47 Acres

      Monument's Premier Mixed-Use Development

      Massive Mixed-Use Property in Monument, CO
      16601 Jackson Creek Pkwy, Monument, CO 80132
      View Details
    • $636,500

      Monument Income-Producing Commercial Property

      Commercial property with two dwellings, offering flexibility and multiple income streams.
      244 Washington St, Monument, CO 80132
      View Details
    • Contact for pricing
      0.83 Acres

      Monument Marketplace North Pads

      Prime Medical Office Pads in Monument, CO
      0 Jackson Crk Rd, Monument, CO 80132
      View Details
    • $2,950,000
      5,280 SF

      Monument Flex Space - 5 Acres

      Modern flex space, 5,280 sq ft, 5-acre lot.
      18955 Beacon Lite Rd, Monument, CO 80132
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      838 SF

      Monument Office Space For Rent

      Office building in Monument, Colorado, with flexible options and parking.
      1850 Woodmoor Dr, Monument, CO 80132
      View Details
    • Contact for pricing
      3,287 SF

      Tri-Lakes Health Pavilion Space

      Neighborhood health center connected to YMCA for lease.
      17230 Jackson Creek Pkwy, Monument, CO 80132
      View Details
    • Contact for pricing
      11,668 SF

      Monument Office Space Available

      Prime Woodmoor location, flexible office suites.
      1832 Woodmoor Dr, Monument, CO 80132
      View Details
    • $850 /Mo
      400 SF

      Move-in Ready Office Suite

      Professional office suite with shared amenities, convenient location.
      16055 Old Forest Pt, Monument, CO 80132
      View Details
    • $63,360
      5,280 SF

      18955 Beacon Lite Road

      Flex space • 5,280 SF
      18955 Beacon Lite Rd, Monument, CO 80132
      View Details
    • Contact for pricing
      49,200 SF

      Monument Marketplace Retail Pads

      Seven Suites Available, High Visibility
      0 Monument Marketplace, Monument, CO 80132
      View Details
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    66 2nd St
    Monument, CO 80132-7907
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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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