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    Property profile & analytics

    712 Fillmore St Colorado Springs, CO 80907

    • Grocery and convenience stores
    • 1,595 SF
    • 0.69 lot acres
    For Sale
    View listing
    $1,200,000
    Last Sale
    Oct 07, 2020
    $1,010,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-1084964
    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

    • American Standard / Auto Insurance Agency

    Property Details for 712 Fillmore St

    Year built
    1958
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.69 lot acres
    Property size
    1,595 SF
    Zone code
    C5/CR
    Property type
    Grocery and convenience stores
    APN
    6332326007
    APU
    6332326007

    Description

    This exceptional retail property, located at 712 E. Fillmore Street in Colorado Springs, Colorado, presents a unique investment opportunity. The single-story, 1,595 square foot building sits on a substantial 30,273 square foot lot, offering ample space for expansion or outdoor amenities. Currently entirely vacant, this property is ideal for a variety of retail uses, particularly given its C5/CR zoning. Built in 1958, the structure is classified as Class C and offers significant potential for renovation and modernization to enhance its appeal and functionality. The property's previous use was a combination convenience store and gas station, suggesting a strong history of retail success in this location. The multiple tenancy designation indicates flexibility in lease arrangements, allowing for diverse business models. Situated in El Paso County, with easy access to major thoroughfares (specific details not provided), this location benefits from high visibility and convenient access for customers. The entire 1,595 square feet is available, providing a blank canvas for a new business venture or expansion of an existing one. This property represents a compelling opportunity to acquire a well-positioned retail space in a growing Colorado Springs market. The large lot size provides considerable room for future development or expansion. The property's address is 712 E Fillmore St, Colorado Springs, CO 80907.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,200,000
      ML approach
      $1,180,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.812
    Latitude
    38.8744
    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
    $10,989
    $200,040
    $8,890
    $208,930
    -
    $717,000
    $31,878
    $748,878

    Comparable in this City

    • Value Estimation
      $2,250,000
      2,288 SF

      408 Gdn Of The Gods Rd

      CONVENIENCE STORE • 2,288 SF
      408 Gdn Of The Gods Rd, Colorado Springs, CO 80907-4218
      View Details
    • Value Estimation
      $6,230,000
      65,377 SF

      3250 Centennial Blvd

      GROCERY, SUPERMARKET • 65,377 SF
      3250 Centennial Blvd, Colorado Springs, CO 80907-4077
      View Details
    • Value Estimation
      $625,000
      1,687 SF

      236 Fillmore St

      CONVENIENCE STORE • 1,687 SF
      236 Fillmore St, Colorado Springs, CO 80907-6157
      View Details
    • Value Estimation
      $1,740,000
      5,677 SF

      711 Fillmore St

      CONVENIENCE STORE • 5,677 SF
      711 Fillmore St, Colorado Springs, CO 80907-6311
      View Details
    • Value Estimation
      $1,050,000
      3,693 SF

      507 Gdn Of The Gods Rd

      CONVENIENCE STORE • 3,693 SF
      507 Gdn Of The Gods Rd, Colorado Springs, CO 80907-3501
      View Details
    • Value Estimation
      $515,000
      2,995 SF

      623 Gdn Of The Gods Rd

      CONVENIENCE STORE • 2,995 SF
      623 Gdn Of The Gods Rd, Colorado Springs, CO 80907-3503
      View Details

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    712 Fillmore St
    Colorado Springs, CO 80907
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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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