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

    7298 Academy Blvd Colorado Springs, CO 80920-3187

    • Grocery and convenience stores
    • 17,922 SF
    • 1.29 lot acres
    OFF-MARKET
    Last Sale
    Jan 27, 2023
    $7,892,000
    Value Estimations
    $7,740,000
    Show details
    Cap Rate Potential
    3.3%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US13-2695737
    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

    • Natural Grocers / Grocery & Convenience Store / Food Market

    Property Details for 7298 Academy Blvd

    Year built
    2000
    Construction
    WOOD FRAME
    Lot size
    1.29 lot acres
    Property size
    17,922 SF
    Zone code
    PBC/CR
    Property type
    Grocery and convenience stores
    APN
    6308002011
    APU
    6308002011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,685,000
      ML approach
      $7,485,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,584,000
      Market price range: $2.27M - $5.58M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $7,845,000
      APARTMENT HOUSE (5+ UNITS)
      $7,315,000
      COMMERCIAL (GENERAL)
      $6,895,000
      NEIGHBORHOOD: SHOPPING CENTER
      $4,775,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.799
    Latitude
    38.9385
    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
    $71,784
    $280,630
    $874,690
    $1,155,320
    -
    $1,005,837
    $3,135,086
    $4,140,923

    Comparable in this City

    • Value Estimation
      $1,170,000
      6,142 SF

      2406 Research Pkwy

      CONVENIENCE STORE • 6,142 SF
      2406 Research Pkwy, Colorado Springs, CO 80920
      View Details
    • Value Estimation
      $4,370,000
      3,028 SF

      5590 Powers Ctr Pt

      CONVENIENCE STORE • 3,028 SF
      5590 Powers Ctr Pt, Colorado Springs, CO 80920-7100
      View Details
    • Value Estimation by Request
      1,995 SF

      3464-3468 Research Pkwy

      CONVENIENCE STORE • 1,995 SF
      3464-3468 Research Pkwy, Colorado Springs, CO 80920
      View Details
    • Value Estimation
      $9,425,000
      69,517 SF

      3560 Hartsel Dr

      GROCERY, SUPERMARKET • 69,517 SF
      3560 Hartsel Dr, Colorado Springs, CO 80920-4191
      View Details
    • Value Estimation
      $515,000
      858 SF

      2775 Briargate Blvd

      CONVENIENCE STORE • 858 SF
      2775 Briargate Blvd, Colorado Springs, CO 80920-3865
      View Details
    • Value Estimation
      $4,610,000
      4,361 SF

      6955 Campus Dr

      CONVENIENCE STORE • 4,361 SF
      6955 Campus Dr, Colorado Springs, CO 80920-3124
      View Details

    Similar Nearby for Sale

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      Prime QSR Location - Colorado Springs

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      11.86 Acres

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    Similar Nearby for Lease

    • $24 SF/Yr
      10,166 SF

      Woodmen Valley Retail Space Available

      Prime Colorado Springs retail space, multiple units.
      6902-6988 Academy Blvd, Colorado Springs, CO 80920
      View Details
    • $26 SF/Yr
      1,400 SF

      Retail Space in Union Center

      Retail space available in busy Colorado Springs shopping center.
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      View Details
    • $24 SF/Yr
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      Retail Space Near King Soopers

      Retail space anchored by King Soopers with excellent visibility.
      3526 Hartsel Dr, Colorado Springs, CO 80920
      View Details
    • Contact for pricing
      2,586 SF

      Retail Space in Affluent Area

      Retail space surrounded by affluent neighborhoods with high average incomes.
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      View Details
    • $26 SF/Yr
      5,229 SF

      Retail Space in Union Center

      Retail space available in busy Colorado Springs shopping center.
      3478 Research Pkwy, Colorado Springs, CO 80920
      View Details
    • $34 SF/Yr
      3,000 SF

      Retail Space in Power Peak

      Prominent retail center space for lease on Powers Blvd.
      5620 E Woodmen Rd, Colorado Springs, CO 80920
      View Details
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    Colorado Springs, CO 80920-3187
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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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