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    Property profile & analytics

    845 Platte Ave Colorado Springs, CO 80903-3547

    • Individual retail properties
    • 1,400 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-1127343
    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

    • Exotic Birds Shop / Pet Supply Store / Bird Shop

    Property Details for 845 Platte Ave

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    1,400 SF
    Zone code
    PBC
    Property type
    Individual retail properties
    APN
    6417208026
    APU
    6417208026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $290,000
      COMMERCIAL (GENERAL)
      $260,000
      MEDICAL BUILDING
      $185,000
      OFFICE BUILDING
      $185,000
      RETAIL STORES
      $155,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.808
    Latitude
    38.8372
    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
    $0.00
    $6,470
    $12,470
    $18,940
    -
    $23,198
    $44,695
    $67,893

    Comparable in this City

    • Value Estimation
      $260,000
      3,475 SF

      26 Tejon St

      BARBER, HAIR SALON • 3,475 SF
      26 Tejon St, Colorado Springs, CO 80903-1508
      View Details
    • Value Estimation
      $245,000
      1,260 SF

      843 Platte Ave

      LAUNDROMAT (SELF-SERVICE) • 1,260 SF
      843 Platte Ave, Colorado Springs, CO 80903
      View Details
    • Value Estimation
      $275,000
      682 SF

      102 Platte Ave

      BARBER, HAIR SALON • 682 SF
      102 Platte Ave, Colorado Springs, CO 80903-1222
      View Details
    • Value Estimation
      $840,000
      3,880 SF

      806 Tejon St

      BARBER, HAIR SALON • 3,880 SF
      806 Tejon St, Colorado Springs, CO 80903-4149
      View Details
    • Value Estimation
      $55,000
      717 SF

      1424 Hancock Ave, Unit 7

      BARBER, HAIR SALON • 717 SF
      1424 Hancock Ave, Colorado Springs, CO 80903-2620
      View Details
    • Value Estimation
      $590,000
      66,135 SF

      207 Nevada Ave

      GYM, HEALTH SPA • 66,135 SF
      207 Nevada Ave, Colorado Springs, CO 80903-1306
      View Details

    Similar Nearby for Sale

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      7,500 SF

      Downtown Colorado Springs Retail Gem

      Historic building, prime location, owner-user opportunity
      206 Tejon St, Colorado Springs, CO 80903
      View Details
    • $8,675,000
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      Prime Colorado Springs Investment Opportunity

      Fully leased retail property with long-term tenant on major thoroughfare.
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    • $1,300,000

      Downtown Colorado Springs Storefront

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    • $2,200,000
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      Downtown Colorado Springs Retail Building

      Turn-of-the-century building in the heart of downtown.
      206 N Tejon St, Colorado Springs, CO 80903
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    • $1,850,000
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      Downtown Colorado Springs Office/Retail

      Prime location, 6,940 sq ft, vacant, $1.85M
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    • $599,000
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      Colorado Springs Commercial Space For Sale

      3,409 SF commercial space on a 17,110 SF lot.
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    Similar Nearby for Lease

    • $22 SF/Yr
      1,618 SF

      Downtown Retail Space For Lease

      Versatile 1,618 SF retail space in walkable downtown location.
      517-523 S Tejon St, Colorado Springs, CO 80903
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    • Contact for pricing
      4,470 SF

      Downtown Colorado Springs Retail Space

      Retail space in desirable northside of downtown Colorado Springs.
      710 N Weber St, Colorado Springs, CO 80903
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    • Contact for pricing
      6,172 SF

      Restaurant and Retail Space Available

      Restaurant and retail spaces with creekwalk access, available for lease.
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    • $22 SF/Yr
      9,500 SF

      Downtown Colorado Springs Retail Space

      Prime Retail, Multiple Spaces Available
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    • Contact for pricing
      3,988 SF

      Downtown Retail and Hotel Space

      Prime downtown location with modern guest rooms and conference space.
      123-125 N Cascade Ave, Colorado Springs, CO 80903
      View Details
    • $14 SF/Yr
      3,500 SF

      Versatile Space Near Popular Amenities

      Adaptable space suitable for office, retail, or live-work arrangements.
      530 S Nevada Ave, Colorado Springs, CO 80903
      View Details

    Property Visit Statistics

    • Visits by month
      3.6k
    • Visitors by month
      2.8k
    • Avg Time on site
      13 min
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    845 Platte Ave
    Colorado Springs, CO 80903-3547
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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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