1800 Nevada AveColorado Springs, CO 80905

  • Retail properties
  • 6,761 SF
For Sale

Property Details for 1800 Nevada Ave

Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
1.67 AC
Property size (Sq ft)
6,761 SF
Zone code
C5
Property type
Retail properties
Property subtype
Banks
APN
6430213027
APU
6430213027

Description

This exceptional 1800 S Nevada Ave property in Colorado Springs, Colorado, presents a unique opportunity for commercial development. Located in El Paso County, zip code 80905, this land parcel offers significant potential for a variety of commercial uses. The property is being offered for sale via a Request for Proposals (RFP) process on behalf of Wells Fargo Bank. The RFP will require detailed proposals outlining a development timeline, showcasing relevant developer experience in comparable projects, and demonstrating a plan to minimize disruption to the existing Wells Fargo branch during construction. Wells Fargo Bank intends to remain a part of the new development, occupying a modern banking facility designed to better serve the Colorado Springs community. The property's precise size is not specified in the provided information, but its location at 1800 S Nevada Ave offers excellent visibility and accessibility. Interested parties should prepare comprehensive proposals addressing the specific requirements outlined in the RFP to be considered. The geographic coordinates are 38.8080951 latitude and -104.8227077 longitude. This is a prime opportunity to develop a significant commercial project in a thriving Colorado Springs location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,173,927
    6.5%
    $2,006,702
    7%
    $1,863,366
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,407,656
    Geo Method
    $1,407,656
  • Alternative Use

    Use
    Valuation
    Residential
    $1,692,728
    Hospitality
    $1,550,530
    Educational
    $1,290,023
    Medical
    $1,334,388
    Retail
    $2,006,702
1800 Nevada Ave, Colorado Springs, Colorado

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.8078
Longitude
-104.823
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
$18,988
$249,640
$105,300
$354,940
-
$894,764
$377,402
$1,272,166

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