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

    815 Platte Ave Colorado Springs, CO 80903-3546

    • Office buildings
    • 4,281 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Jan 23, 2025
    $830,000
    Value Estimations
    $840,000
    Show details
    Cap Rate Potential
    5.4%
    Office buildings
    Location Intelligence
    Property ID
    US13-0000364
    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

    • TEMENOS COUNSELING AND SPIRITUAL DIRECTION / Counselor

    Property Details for 815 Platte Ave

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.27 lot acres
    Property size
    4,281 SF
    Zone code
    R5
    Property type
    Office buildings
    APN
    6417207031
    APU
    6417207031

    Description

    This exceptional 2,500 square foot office space at 815 E Platte Ave in Colorado Springs, Colorado, presents a unique opportunity for businesses seeking a versatile and strategically located workspace. The property, situated in El Paso County, offers a traditional office layout adaptable to executive office suites or creative office environments. The single-tenant occupancy allows for complete customization and control over the space. Its prime location near downtown Colorado Springs provides easy access to amenities and a vibrant business community. The zoning permits a live-work arrangement, catering to a diverse range of business needs. This property offers flexibility with several leasing options available, including single residential apartments and larger format office spaces. Furthermore, there is the added option of purchasing the property outright, providing a significant long-term investment opportunity. The address is 815 E Platte Ave, Colorado Springs, CO 80903. This is an ideal location for businesses seeking a blend of convenience, flexibility, and potential for growth. The property's versatility makes it suitable for a wide array of businesses, from small startups to established companies. Don't miss this chance to secure a prime location in a thriving Colorado Springs market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $825,000
      ML approach
      $865,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $750,000
      6.5%
      $690,000
      7%
      $640,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $716,000
      Market price range: $717k - $1.55M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,065,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,140,000
      Change: +7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,055,000
      Change: -1% Conversion: Difficult
      MEDICAL BUILDING
      $1,030,000
      Change: -4% Conversion: Easy
      RETAIL STORES
      $900,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.81
    Latitude
    38.8374
    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
    $5,641
    $13,490
    $101,510
    $115,000
    -
    $88,882
    $668,690
    $757,572

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      102 Pike Peak Ave

      OFFICE BUILDING • 0.10 Acres
      102 Pike Peak Ave, Colorado Springs, CO 80903-1823
      View Details
    • Value Estimation
      $540,000
      4,963 SF

      722 Tejon St

      OFFICE BUILDING • 4,963 SF
      722 Tejon St, Colorado Springs, CO 80903
      View Details
    • Value Estimation
      $710,000
      6,842 SF

      622 Tejon St

      OFFICE BUILDING • 6,842 SF
      622 Tejon St, Colorado Springs, CO 80903-4026
      View Details
    • Value Estimation
      $2,920,000
      16,557 SF

      27 Tejon St

      OFFICE BUILDING • 16,557 SF
      27 Tejon St, Colorado Springs, CO 80903-1538
      View Details
    • Value Estimation by Request
      3,889 SF

      730 Weber St

      OFFICE BUILDING • 3,889 SF
      730 Weber St, Colorado Springs, CO 80903-1078
      View Details
    • Value Estimation by Request
      1,471 SF

      201 Las Animas St Ste, Unit 107

      OFFICE BUILDING • 1,471 SF
      201 Las Animas St Ste, Colorado Springs, CO 80903-2164
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $16 SF/Yr
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      Historic office building in downtown Colorado Springs for lease.
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    • $14 SF/Yr
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      Restored Office Building Near I-25

      2,958 SF office building near I-25 for sale or lease.
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      Downtown Colorado Springs Office Space

      Class A Office Suites, Coworking Available
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    • Contact for pricing
      7,000 SF

      715 N Weber St: Medical Office Space

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    • $15 SF/Yr
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      Executive Suite, Pikes Peak Ave

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      Office suites available near downtown with common amenities.
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      View Details
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    815 Platte Ave
    Colorado Springs, CO 80903-3546
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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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