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Home My WebLink About20062050.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2006, WELD COUNTY, COLORADO - ADJUST VALUE IN PART PETITION OF: CENTENNIAL SELF STORAGE LLC 9051 BRUIN BLVD FREDERICK, CO 80504 DESCRIPTION OF PROPERTY: ACCOUNT#: R7992999 PARCEL#: 131314002003 -FRE BIP L3 BLK1 BEAR INDUSTRIAL PARK 9051 BRUIN BLVD FREDERICK 805043446 WHEREAS, the Board of County Commissioners of Weld County, Colorado, convened as the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within Weld County, fixed and made by the County Assessor for the year 2006, and WHEREAS, said petition has been heard before the County Assessor and due Notice of Determination thereon has been given to the taxpayer(s), and WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's valuation for the year 2006, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner being present, and WHEREAS,the Board has made its findings on the evidence,testimony and remonstrances and is now fully informed. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, acting as the Board of Equalization,that the evidence presented at the hearing supported, in part, the value placed upon the property by the petitioner. The assessment and valuation of the Weld County Assessor shall be, and hereby is, adjusted as follows: ACTUAL VALUE AS DETERMINED ADJUSTED BY ASSESSOR ACTUAL VALUE Land $ 569,555 $ 569,555 Improvements OR Personal Property 1,674,998 1,200,000 TOTAL $ 2,244,553 $ 1,769,555 2006-2050 AS0064 ee ', fls, e Pn- 0g-0Li RE: BOE - CENTENNIAL SELF STORAGE LLC Page 2 BE IT FURTHER RESOLVED that a denial of a petition, in whole or in part, by the Board of Equalization may be appealed by selecting one of the following three options; however,said appeal must be filed within thirty (30) days of this resolution: 1. Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's(CBOE's)decision to the Board of Assessment Appeals (BAA). Such hearing is the final hearing at which testimony, exhibits, or any other evidence may be introduced. If the decision of the BAA is further appealed to the Court of Appeals, only the record created at the BAA hearing shall be the basis for the Court's decision. No new evidence can be introduced at the Court of Appeals. (Section 39-8-108(10), C.R.S.) Appeals to the BAA must be made on forms furnished by the BAA, and such appeals should be mailed or delivered within thirty (30) days of denial by the CBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: (303) 866-5880 Fees: A taxpayer representing himself is not charged for the first two appeals to the Board of Assessment Appeals; however, a taxpayer being represented by an agent or an attorney must submit a fee of$101.25 per appeal. OR 2. District Court: You have the right to appeal the CBOE's decision to the District Court of the county wherein your property is located. New testimony, exhibits or any other evidence may be introduced at the District Court hearing. For filing requirements, please contact your attorney or the Clerk of the District Court. Further appeal of the District Court's decision is made to the Court of Appeals for a review of the record. (Section 39-8-108(1), C.R.S.) OR 3. Binding Arbitration: You have the right to submit your case to arbitration. If you choose this option the arbitrator's decision is final and your right to appeal your current valuation ends. (Section 39-8-108.5, C.R.S.) Selecting the Arbitrator: In order to pursue arbitration, you must notify the CBOE of your intent. You and the CBOE select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator,the District Court of the county in which the property is located will make the selection. 2006-2050 AS0064 RE: BOE - CENTENNIAL SELF STORAGE LLC Page 3 Arbitration Hearing Procedure: Arbitration hearings are held within sixty days from the date the arbitrator is selected. Both you and the CBOE are entitled to participate. The hearings are informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records, documents and other evidence. He also has the power to administer oaths, and all questions of law and fact shall be determined by him. The arbitration hearing may be confidential and closed to the public, upon mutual agreement. The arbitrator's written decision must be delivered to both parties personally or by registered mail within ten (10) days of the hearing. Such decision is final and not subject to review. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the CBOE. In the case of residential real property, such fees and expenses cannot exceed$150.00 per case. The arbitrator's fees and expenses, not including counsel fees, are to be paid as provided in the decision. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 1st day of August, A.D., 2006. BOARD OF COU COMMISSIONERS WELD OUN OLORADO ATTEST: Atell ill, ; u . . ails, Chair Weld County Clerk to the •.. • onCI Davi . Long, Pro-Te BY: //1,ef_ ►�.,!_ : .+.� / Deputy Clerk t heBoard EXCUSED Willi Jerke APPROVED AS TO FORM: & n1 Robert D. Masd n Ass taut County Attorn Glenn Vaad Date of signature: fiz 2006-2050 AS0064 NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR 1400 NORTH 17th AVE. PAR BIP L3 BRUT BEAR INDUSTRIAL GREELEY,CO 80631 \ PARK 9051 BRUIN BLVD FREDERICK PHONE(970)353-3845,EXT.3650 805043446 www.co.weld.co.us ink OWNER: CENTENNIAL SELF STORAGE LLC COLORADO GEORGE DAN LOG 317 1ST NET REAL ESTATE SERVICES INC PARCEL 131314002003 3333 S WADSWORTH BLVD STE 200 ACCOUNT R7992999 LAKEWOOD, CO 80227 YEAR 2006 Owner! CENTENNIAL SELF STORAGE LLC The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that your property should be included in the following category(ies): Commercial property is valued by considering the cost, market, +.nd *rcome approaches . If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings. The Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest,and has determined the valuation(s)assigned to your property. The reasons for this determination of value are: :1O Jntt:1C (.: lad .).eil Glade :.O :no valuar.ion of th1:3 prop.e.rt`,'. Colorado law egr:ire-31 co ;end thi3 notice of denial Eor all properties cm which we do not PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW RESIDENTIAL 141901 141901 COMMERCIAL 2102652 ?10265,2. TOTALS $ $ 2244553 $ 2244553 APPEAL DEADLINES: REAL PROPERTY-JULY 15,PERSONAL PROPERTY-JULY 20. If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration. §39-8- 106(1)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal. 06/28/2006 By: Stanley F. Sessions WELD COUNTY ASSESSOR DATE ADDITIONAL INFORMATION ON REVERSE SIDE 2006-2050 PR-207.17/03 YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION The County Board of Equalization will sit to hear appeals beginning July 1 and continuing through August 5 for real property(land and buildings) and personal property(furnishings, machinery, and equipment). § 39-8-104 and § 39- 8-107(2), C.R.S. 1'x1;11 R37�te3 If you choose to appeal the Assessor' s decision, mail or deliver one copy of this completed form to the County Board of Equalization. To preserve your right to appeal, your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY 17 FOR REAL PROPERTY, AND JULY 20 FOR PERSONAL PROPERTY. WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970)356-4000 Ext. 4225 You wi be notifie. o the time and place set for the hearing of your appeal. The County Board of Equalization must make a decision on your appeal and mail you a determination within five business days of that decision. The County Board must conclude its hearings and render decisions by August 5. ("4'4.1:41 a': 3:14 t 9:111;( If you are not satis Ted wits the ounty Board o Equalization' s decision you must file within thirty days of the County Board of Equalization' s written decision with ONE of the following: Board of Assessment Appeals (BAA): Contact the BAA at 1313 Sherman, Room 315, Denver, Colorado 80203, (303)866-5880. www.dola.colorado.gov/baa District Court: 9th Avenue and 9th Street, P.O. Box C Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4520 Arbitration: WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4225 If you do not receive a determination from the County Board of Equalization, you must file an appeal with the Board of Assessment Appeals by September 11. TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING. PETITION TO THE COUNTY BOARD OF EQUALIZATION In the space below, please explain why you disagree with the Assessor' s valuation. IN ACCORDANCE WITH § 39-8-106(1.5), C.R.S., IF YOUR APPEAL INVOLVES REAL PROPERTY, YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as nec sary. f l5e-4?MO LIOrloragar DAW PR-207.97,03 Weld County STANLEY F. SESSIONS COUNTY ASSESSOR CHRISTOPHER WOODRUFF, DEPUTY ASSESSOR APPRAISAL REPORT OF COMMERCIAL PROPERTY FOR County Board of Equalization CENTENNIAL SELF STORAGE LLC PETITIONER vs. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 1313-14-0-02-003 Schedule Number: R7992999 Log Number: LOGNUMBER Date: August 1, 2006 Time: 10:15 AM Board: CBOE PREPARED BY STEVE MALLETT 07/28/2006 Signature Date Signature Date ASSESSOR'S OFFICE STAFF APPRAISER CBOE_COMM_010998 Page 1 SALIENT FACTS AND CONCLUSIONS Purpose of Appraisal To determine Market Value as of 1/1/06 based on an appraisal date of 6/30/04. Property Rights Appraised Unencumbered fee simple interest. Location 9051 BRUIN BLVD FREDERICK Land Area 197,762 Square Feet Zoning Property Type Commercial 1— Mini Warehouse Facility Year Built 2004 Year Remodeled Quality Average Class Metal Frame Number of Stories 1 Improvement Sq. Ft. 72,696 Value Indications: Land $569,555 Cost Approach $2,292,443 Market Approach $2,228,132 Income Approach $2,572,960 Assessor's Value $2,244,553 CBOE_COMM_010998 Page 2 Subject Photos F .v . i 75.0' 15-10x10(33 Interior) 23-1ox]) 16-10x15(All Interior) 5-5x10 4.15x10 NI: I : "I I i air 1 Building A }i+ ti Climate 700' 22875.0' 1 < '; r`i I Controlled \KM1K Area j I. I1 7996O' I i z �:- - 36.10x10 et b $. 12-15x10 $ 7-10 5 ' 2-5x5 I i '.( { 1-5x5 1.15)6 \ 1.8x1➢ - 5 U' 13 2005 75 75.0' CLIMATE CONTROLLED UNITS SHADED AREA CONTAINS CLIMATE CONTROLLED UNITS CBOE_COMM_010998 Page 3 COST APPROACH LAND VALUE Sales utilized to establish the value in the subject neighborhood are from 2003 and the first six months of 2004 for the 2006 assessment date. The comparative sales approach is the most reliable method of land valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may utilize sales from July 1999 through June of 2004 to establish the proper value, if sufficient information is not available in the prior 18 months. Also, comparables outside the subject property area may be used. The Weld County Assessor has an established ongoing sales confirmation and validation program for property transactions used in developing value. The land size of the subject is 197,762 square feet. Comparable commercial land in the subject area is valued at $2.88 per square foot. Parcel Number Sale Date Sale Price Land Size Per Sq. Ft. Comparable 1 131314002003 1/15/2004 $660,000 197,762 $3.34 Subject Sq. Ft. Comparable 2 131314003009 6/07/2004 $122,100 49,223 $2.48 Sq. Ft. Comparable 3 131314304001 1/13/2004 $1,183,259 338,074 $3.50 Sq. Ft. All Comparable Land Sales are in Bear Industrial Park ASSESSOR'S LAND VALUE $569,555 (197,762 sq. ft. at $2.88 per sq. ft.) COOE_COMM_010998 Page 4 COST APPROACH The Assessor is currently using Marshall and Swift cost tables for the cost approach of commercial properties in Weld County, which has been approved by the Division of Property Taxation to be utilized by Colorado Assessors. The structure has been classified properly utilizing the Marshall and Swift Valuation service and an appropriate value assigned. A land value has likewise been established through the utilization of vacant land sales of comparable properties. Centennial Self Storage - Building Permit Cost Estimate R7992999 Permit Number Permit Date Permit Amount 04-027 1/28/2004 $15,000.00 04-052 2/10/2004 $220,000.00 04-100 3/11/2004 $90,000.00 04-144 4/5/2004 $500,000.00 04-075 $28,400.00 Water Tap 04-160 $3,270.00 Monument Sign 04-161 $1,300.00 Wall Sign Sprinkler System (Material 04-363 $2,000.00 Only) 05-432 4/7/2005 $105,000.00 05-337 6/30/2005 $85,200.00 05-450 $9,200.00 Bell Tower Sign Total Hard Construction Costs $1,059,370.00 Land Cost $660,000.00 Total $1,719,370.00 Does not include landscaping and concrete CBOE_COMM_010998 Page 5 Cost Approach Mini Warehouse Facility BUILDING #1 PARCEL NUMBER 131314002003 PROPERTY OWNER Centennial Self Storage LLC 9051 Bruin ADRESS Boulevard Frederick, CO. CITY, STATE, ZIP 80504 DATE OF SURVEY 06/30/04 OCCUPANCY: Office - Apartment NUMBER OF STORIES 2 AVERAGE STORY FLOOR AREA (SQ. FT.) 2,021 HEIGHT 8 CLASS: Wood Frame YEAR BUILT 2004 COST RANK Average EFFECTIVE AGE 2004 HEATING AND COOLING Package Air ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 2,021 $67.18 $135,771 EXTRAS: TOTAL RCN $135,771 LESS DEPRECIATION 0.01 $1,358 DEPRECIATED COST $134,413 TOTAL VALUE $134,413 PSF Value $66.51 CBOE_COMM_010998 Page 6 Cost Approach Mini Warehouse Facility BUILDING #2 PARCEL NUMBER 131314002003 PROPERTY OWNER Centennial Self Storage LLC 9051 Bruin ADRESS Boulevard Frederick, CO. CITY, STATE, ZIP 80504 DATE OF SURVEY 06/30/04 OCCUPANCY: Mini Warehouse NUMBER OF STORIES 1 AVERAGE STORY FLOOR AREA (SQ. FT.) 22,875 HEIGHT 10 CLASS: Metal Frame YEAR BUILT 2004 COST RANK Average EFFECTIVE AGE 2004 Package Air-7,996 HEATING AND COOLING sf ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 22,875 $21.51 $492,041 EXTRAS: Package HVAC - Moderate Climate 7,996 $6.05 $48,376 TOTAL RCN $540,417 LESS DEPRECIATION 0.01 $5,404 DEPRECIATED COST $535,013 TOTAL VALUE $535,013 PSF Value $23.39 CBOE_COMM_010998 Page 7 Cost Approach Mini Warehouse Facility BUILDING #3 PARCEL NUMBER 131314002003 PROPERTY OWNER Centennial Self Storage LLC 9051 Bruin ADRESS Boulevard Frederick, CO. CITY, STATE, ZIP 80504 DATE OF SURVEY 06/30/04 OCCUPANCY: Mini Warehouse NUMBER OF STORIES 1 AVERAGE STORY FLOOR AREA (SQ. FT.) 9,150 HEIGHT 10 CLASS: Metal Frame YEAR BUILT 2004 COST RANK Average EFFECTIVE AGE 2004 HEATING AND COOLING None ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 9,150 $22.96 $210,084 EXTRAS: $0 TOTAL RCN $210,084 LESS DEPRECIATION 0.01 $2,101 DEPRECIATED COST $207,983 TOTAL VALUE $207,983 PSF Value $22.73 CBOE_COMM_010998 Page 8 Cost Approach Mini Warehouse Facility BUILDING #4 PARCEL NUMBER 131314002003 PROPERTY OWNER Centennial Self Storage LLC 9051 Bruin ADRESS Boulevard Frederick, CO. CITY, STATE, ZIP 80504 DATE OF SURVEY 06/30/04 OCCUPANCY: Mini Warehouse NUMBER OF STORIES 1 AVERAGE STORY FLOOR AREA (SQ. FT.) 14,250 HEIGHT 10 CLASS: Metal Frame YEAR BUILT 2004 COST RANK Average EFFECTIVE AGE 2004 HEATING AND COOLING None ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 14,250 $20.67 $294,548 EXTRAS: $0 TOTAL RCN $294,548 LESS DEPRECIATION 0.01 $2,945 DEPRECIATED COST $291,602 TOTAL VALUE $291,602 PSF Value $20.46 CBOE_COMM_010998 Page 9 Cost Approach Mini Warehouse Facility BUILDING #5 PARCEL NUMBER 131314002003 PROPERTY OWNER Centennial Self Storage LLC 9051 Bruin ADRESS Boulevard Frederick, CO. CITY, STATE, ZIP 80504 DATE OF SURVEY 06/30/04 OCCUPANCY: Mini Warehouse NUMBER OF STORIES 1 AVERAGE STORY FLOOR AREA (SQ. FT.) 7,050 HEIGHT 10 CLASS: Metal Frame YEAR BUILT 2004 COST RANK Average EFFECTIVE AGE 2004 HEATING AND COOLING None ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 7,050 $23.41 $165,041 EXTRAS: $0 TOTAL RCN $165,041 LESS DEPRECIATION 0.01 $1,650 DEPRECIATED COST $163,390 TOTAL VALUE $163,390 PSF Value $23.18 CBOE_COMM_01 0998 Page 10 Cost Approach Mini Warehouse Facility BUILDING #6 PARCEL NUMBER 131314002003 PROPERTY OWNER Centennial Self Storage LLC 9051 Bruin ADRESS Boulevard Frederick, CO. CITY, STATE, ZIP 80504 DATE OF SURVEY 06/30/04 OCCUPANCY: Mini Warehouse NUMBER OF STORIES 1 AVERAGE STORY FLOOR AREA (SQ. FT.) 8,200 HEIGHT 10 CLASS: Metal Frame YEAR BUILT 2005 COST RANK Average EFFECTIVE AGE 2005 HEATING AND COOLING None ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 8,200 $22.96 $188,272 EXTRAS: $0 TOTAL RCN $188,272 LESS DEPRECIATION 0.00 $0 DEPRECIATED COST $188,272 TOTAL VALUE $188,272 PSF Value $22.96 CBOE_COMM_010998 Page 11 Cost Approach Mini Warehouse Facility BUILDING #7 NOT BUILT PARCEL NUMBER 131314002003 PROPERTY OWNER Centennial Self Storage LLC 9051 Bruin ADRESS Boulevard Frederick, CO. CITY, STATE, ZIP 80504 DATE OF SURVEY 06/30/04 OCCUPANCY: Mini Warehouse NUMBER OF STORIES 1 AVERAGE STORY FLOOR AREA (SQ. FT.) 11,250 HEIGHT 10 CLASS: Metal Frame YEAR BUILT 0 COST RANK Average EFFECTIVE AGE 0 HEATING AND COOLING None ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 0 $21.98 $0 EXTRAS: $0 TOTAL RCN $0 LESS DEPRECIATION 0.00 $0 DEPRECIATED COST $0 TOTAL VALUE $0 PSF Value $0.00 CBOE_COMM_010998 Page 12 Cost Approach Mini Warehouse Facility BUILDING #8 PARCEL NUMBER 131314002003 PROPERTY OWNER Centennial Self Storage LLC 9051 Bruin ADRESS Boulevard Frederick, CO. CITY, STATE, ZIP 80504 DATE OF SURVEY 06/30/04 OCCUPANCY: Mini Warehouse NUMBER OF STORIES 1 AVERAGE STORY FLOOR AREA (SQ. FT.) 9,150 HEIGHT 10 CLASS: Metal Frame YEAR BUILT 2005 COST RANK Average EFFECTIVE AGE 2005 HEATING AND COOLING None ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 9,150 $22.10 $202,215 EXTRAS: $0 TOTAL RCN $202,215 LESS DEPRECIATION 0.00 $0 DEPRECIATED COST $202,215 TOTAL VALUE $202,215 PSF Value $22.10 CBOE_COMM_010998 Page 13 Improvement Value $1,722,888 Land Value $569,555 TOTAL VALUE BY THE COST APPROACH $2,292,443 CBOE_COMM_010998 Page 14 MARKET APPROACH COMPARABLE MINI WAREHOUSE SALES COMPARATIVE SALES APPROACH SALE# Subject 1 2 3 4 9051 Bruin 1405 32nd Address Blvd Street 4815 Boardwalk Dr. 1961 Caribou Dr. 213 N Hwy 287 Address Frederick Evans Fort Collins Fort Collins Fort Collins Northern Cob Self Dandelion Mini Grantor Dwyer Stephen Storage Vigor Family Trust Storage McLavey W-3 Securecare I T A U Enterprises Grantee Bernard W-3 Securecare LLC LLC Sale Date 3/30/2001 10/2/2001 2/5/2001 2/20/2004 Assessor Sale Price $2,244,553 $1,975,000 $2,000,000 $2,600,000 $1,100,000 Bldg SF 72,696 sq. ft. 72,361 sq. ft. 68,034 sq. ft. 87,168 sq. ft. 22,985 sq. ft. Assessor Sale Price/Sgft $30.88 $27.29 $29.40 $29.83 $47.86 197,762 sq. Land Size ft. 161,639 sq.ft. 204,981 sq.ft. 221,308 sq.ft. 95,250 sq.ft. Year Blt 2004/05 1978/83 1998 1993 1939/78/83/84/2000 Office/Residenc e 2021 Sq. Ft. 800 Sq. Ft. 800 Sq. Ft. 1310 Sq. Ft. None Climate Control 7996 Sq. Ft. None None None None Adjustments $69,125.00 $70,000.00 $91,000.00 $38,500.00 Adj. Sales Price $2,044,125 $2,070,000 $2,691,000 $1,138,500 Adj Sale/SgFt $28.14 $30.43 $30.87 $49.53 THE AVERAGE FOR ALL MARKET SALES IS $34.74 PER SQUARE FOOT THE MEDIAN FOR ALL MARKET SALES IS $30.65 PER SQUARE FOOT SUBJECT 72,696 SQ. FT. TIMES $30.65 PER SQ. FT. EQUALS $2,228,132 TOTAL VALUE BY THE MARKET APPROACH $2,228,132 CBOE_COMM_010998 Page 15 INCOME APPROACH The basic steps in the Income Approach to value for commercial properties in mass appraisal are based on a landlord-tenant situation and not on the income of the actual business. In using this approach, it eliminates the possibility of valuing management as opposed to the potential income of the structure. This is the proper method Assessor's must utilize through the Directives of the Division of Property Taxation. Centennial Self Storage Climate Controlled Units BLDG A Gross #of Size units Rent/unit Monthly Income 10x10 36 $110.00 $3,960.00 10x15 12 $140.00 $1,680.00 10x5 7 $60.00 $420.00 10x25 1 $250.00 $250.00 5x5 2 $45.00 $90.00 5x6 1 $45.00 $45.00 5x15 1 $87.00 $87.00 Total 60 $6,532.00 Standard Units BLDG BLDG BLDG BLDG A BLDG B BLDG C G D F Total# Gross #of #of #of #of #of of Monthly Size units units #of units units units units units Rent/unit Income 10x10 33 45 3 2 3 86 $67.00 $5,762.00 10x10 Interior 12 21 33 $77.00 $2,541.00 10x15 4 2 6 3 53 3 71 $93.00 $6,603.00 10x15 Interior 16 16 $102.00 $1,632.00 10x20 23 1 12 42 78 $109.00 $8,502.00 10x5 5 3 1 9 $50.00 $450.00 10x25 1 26 27 $137.00 $3,699.00 10x30 14 22 36 $148.00 $5,328.00 5x5 3 3 $39.00 $117.00 Total 93 76 61 25 56 48 359 $34,634.00 Total Climate Controlled Income $6,532.00 Total Gross Monthly Income $41,166.00 Total Gross Annual Income $493,992.00 Gross Income per gross square foot $6.80 CBOE_COMM_01 0998 Page 16 INCOME WORKSHEET Parcel : 131314002003 Name: CENTENNIAL SELF STORAGE LLC Address: 9051 BRUIN BOULEVARD, FREDERICK, COLORADO No of Bldg Sq Ft Use Units Mini 72,696 Warehouse 359 Annual Subject Rents Rent per Gross Month Income See Unit Rent Schedule $41,166 $493,992 Less Vacancy & Collection Loss 21% -$103,738 Effective Gross Income $390,254 Operating Expenses 20% -$78,051 Net Operating Income(NOI) $312,203 Market Property Cap Tax Rate Total Rate Value Cap Rate 0.095 0.0263 0.121 $2,572,960 Income Value $2,572,960 CBOE COMM_010998 Page 17 FINAL RECONCILIATION After consideration of the cost, market and income approaches, it is the Weld County Assessor's opinion that the value of$2,244,553, most accurately reflects the value of the subject property in Weld County for the 2006 tax year. COST APPROACH MARKET APPROACH INCOME APPROACH $2,292,443 $2,228,132 $2,572,960 ASSESSOR'S VALUE $2,244,553 CBOE_COMM_010998 Page 18 6 CLERK TO THE BOARD PHONE (970) 356-4000 EXT 4226 FAX: (970) 352-0242 I WEBSITE: ww .co.weld.co.us 915w10TH STREET P.O. BOX 758 O GREELEY, COLORADO 80632 COLORADO July 21, 2006 CENTENNIAL SELF STORAGE LLC 9051 BRUIN BLVD FREDERICK CO 80504 Parcel No.: 131314002003 Account No.: R7992999 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 1, 2006, at or about the hour of 10:05 AM,to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Department of Planning Services, Conference Room, 918 10th Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August4, 2006,and mailed to you on or before August 11, 2006. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax(970)304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three(3) working days, subject to any confidentiality requirements. CENTENNIAL SELF STORAGE LLC - R7992999 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Mk/4 Donald D. Warden Clerk to the Board cc: Stanley Sessions, Assessor 1ST NET REAL ESTATE SERVICES INC 333 SOUTH WADSWORTH BOULEVARD SUITE 200 LAKEWOOD CO 80227 t viA. 1otC (7 -c-g.0 a - 5740 m, 710!77/Xclio I o g „m lli QuN M M : 0 c W N CI a N N m --- ((II ii 0 o a 0 0 0 4 -- No ¢ Et¢ o 0mitaU3 O _ �S N o 2 U a' R OUt "a - ��pp3cc1��Mt5 egg Z (A j0 k - �J�rF�: 7�1 - W J .i 020 - t1-..* 41}ti U D Ft l- y , y , .,..,i, U — Li.fa 7... +r ui CO = 0r oan LI IX CO 4122re D O r. I- N a = Co CO - J Q C N m _ W Wm O C z m = wON3 Z Hr> — Y co rMcg o N a• G o °D tfi m O w coa X In H }I W YmW fr • o. o • _Id o Tr 3.s FAX TRANSMISSION Vi`pC CLERK TO THE BOA STREET EE COLORADO P. O. BOX 758 GREELEY, CO 80631 PHONE: 970-356-4000 EXT. 4226 FAX: 970-352-0242 To: Dan George Date: July 28, 2006 Fax: 1-720-962-5760 Pages: 4, including cover page From: Esther Gesick, Deputy Clerk to the Board Subject: Board of Equalization(BOE) Hearing COMMENTS: Mr. George, Due to a typographical error in the mailing address, your notice of hearing was returned to our office. Please accept this fax as your notice of hearing, and I will also resend the original in the mail for your records. If you have any questions,please don't hesitate to call me at(970)356-4000 X4226. Sincerely, Esther Gesick CONFIDENTIAL This facsimile is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged,confidential,and exempt from disclosure under applicable law. If the reader of this facsimile is not the intended recipient nor the employee or agent responsible for delivering the facsimile to the intended recipient,you are hereby notified that any dissemination,distribution,or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by telephone and return the original message to us at the above address via the U.S.Postal Service. Thank you. * P. 01 * * TRANSACTION REPORT * * JUL-28-2006 FRI 11 :32 AM I * * * FOR: WELD CO GOVT 9703520242 * * * * DATE START RECEIVER TX TIME PAGES TYPE NOTE M# DP I * * * JUL-28 11 31 AM 917209625760 1' 13" 4 SEND OK 213 * * * I I * TOTAL : 1M 13S PAGES: 4 * * * lKtttYtMcttIYXYXX******xxxXX************** **************XXX*******YxYY******XXX*X*********XY*XYXXXX** FAX TRANSMISSION fat; IN I 1 CLERK TO THE BOARD 915 10TH STREET ip-ol • . , I 0 P. O. BOX 758 GREELEY, CO 80631 PHONE: 970-356-4000 EXT. 4226 FAX: 970-352-0242 To: Dan George Date: July 28, 2006 Fax: 1-720-962-5760 Pages: 4, including cover page From: Esther Gesick,Deputy Clerk to the Board Subject: Board of Equalization(BOE)Hearing COMMENTS: r Estimate of Taxable Value For Centennial Self Storage LLC 9051 Bruin Blvd. Fredrick, Colorado Weld County Schedule # R7992999 For Weld County Board of Equalization Hearing 10:05 AM August 1, 2006 Tax Year 2006 1St NET REAL ESTATE SERVICES, INC. 3333 S. Wadsworth Blvd. Suite 200 Lakewood, CO 80227 720-962-5750 Extent R ?q9 9 - 1 14 ; 42,-,5, R : "' �, t4 , "'^ gtya dt ,.rf-:1 -'' i Vr "u,. di,-",-; z -Pt a '"ate. rv, '=S +' '9" a � vt o^ k ' �`1 , ni s,�i''�, 'rn .s .wk a , ^a„ Th,"" ' iii ,l a Uzi + d s ? i * r e 4 YF 3:u �.Yx. di'' d% 0 ti q. ..;;.•-c -: '1 `.y gi4' "S* s _— "_"„`.s.1:a t?-..).:-3,--4"ovlaril."}+ n� SUBJECT PROPERTY LOCATION: 9051 Bruin Blvd. IMPROVEMENT SIZE: 72,698 SF LAND SI7F: 197.762 SF LAND TO BUILDING RATIO: 2.72 to 1 YEAR OF CONSTRUCTION: 2004,2005 COUNTY: Weld SCHEDULE: R7992999 LEASE RATE: $6.06 Gross Market PROPERTY TYPE: Commercial USE: Mini Storage Warehouse VERIFIED: Owner -2- ^-Styes ,� (} �]yl.FaF yy x t Y J Y 3' .�,`d t3`53�. r_ i Y ' � 3 � YJ �^•Y "krLkK p' l §4 ',..4t4,./"..,1.:C.; 1”;:a1140:1'''a. 1 4•A`y4 a r s a "rf.„sj'. %. r tt3n•: �" In i x`"10 4. e y 5a "� : -; - -3— h J � C0.l+' IIII I .v \ ; Y n' • _4_ -.T, -11 ,: d,`I Map Point' 7 243 _-_ ' - 30 68 3D El 3 N I 243 11 I . iir ' st..:, / �fo" i ' t.1a �d 26 20 I `�87 I (� I, .. Y � Of 1 iiiii-- ) • II"Cb}9S-2 ( Blvd m 2• P. i y_.( _ I. r .—.--_�_'. b hdf r ��—J J — W �.lI) T J u li I w ,. Jr rJ .-lY / 22 1. 7 C-nt-nnial S-If St•rage 20 _Rim • 151 :ruin •:Ivd., Fr-drick J t 20 (- ' MiStI �� tI t -Fl�bsione 6. I L �, e �� T. -1-,-at Ifs,€loos Wonsan.,82005 RIIRRalprsDT*. A I 11 ' ,t_. 'r - 5- LE 1"1'ER OF TRANSMITTAL This consulting service report was prepared for the purpose of determining the June 30,2004 level of value of the property identified. The contents of this report are considered to be confidential and, except as required by the rules, regulations and guidelines which govern the keeping of records of the public agency before which this hearing or proceeding is held, the contents of this report are not to be distributed to the public or made a part of any permanent county record for any real property and are not to be made available so as to permit any public inspection of this report. This report was prepared solely for presentation on the date of the hearing for which this report was prepared. No portion of this report may be used for any other purpose. 1St Net Real Estate Services, Inc. has been retained to provide consulting services for the property owner and is being compensated in whole or part on the basis of potential savings that may result from a reduction of the subject property assessment. This disclosure of a contingent fee arrangement is intended to comply with the requirements of 12-61-712(1)(d), CRS and the Uniform Standards of Professional Appraisal Practice. THIS LETTER OF TRANSMITTAL SHALL NOT BE REMOVED FROM THE BODY OF THE REPORT AT ANY TIME. PETITIONER'S NAME: Centennial Self Storage LLC PROPERTY ADDRESS: 9051 Brain Blvd. IDENTIFICATION NUMBER: R7992999 Cost Approach :$ 1,599,000 Income Approach :$1,405,000 Assessment Comparison :$ 1,358,000 Conclusion $1,405,000 Daniel J. George #AR013 15496 Registered Appraiser Registered Appraiser - 6- Summary of Salient Facts and Conclusions Property Type: Mini Storage Warehouse Property Address: 9051 Bruin Blvd. Assessment Date: January 1,2006 Applicable Base Period: January 1, 2003 through June 30,2004 Property ID/Schedule No.: R7992999 Year of Construction: 2004,2005 Building Area: 72,689 SF Land Area: 197,762 SF County 2006 Value: Actual Valuation: Land $ 569,555 Or $ 2.88 per sq. ft. Improvements $ 1,674,998 Total $ 2,224,553 Or $ 30.60 per sq. ft. Final Valuation Land 569,555 Or $ 2.88 per sq. ft. Estimate: Improvements $ 831,335 Total $ 1,405,000 Or $ 19.32 per sq. ft. - 7- . ..Sr• —.—ill. :118 0 ..�nn — LIII rier . f _ Z = ! . 1 0 I Eh F 4i iv gi I It I � I 0 • E 31- 1 I CentennialInd Self Stara get NCB ease a_ Bear Industrial Peak 1\ i7 � ! } Frederick Colaxa Camino �r.a• •• •� - 8- TT 'd 6488201..60E 30USO1S diES 1U114W31N33 SS :ST 4002 2T gulf! e ci N N N N N 0 N V r W 0) O) 01 N CO u) R. r r r .4- W U O O 0 N N 0 0 0 CO N 00) 6 0 in COO i co N COO 0 in r h - O) M 49 49 69 40 M (9 !A H 40 CD o o 'Cr o 0 0 0 (a CO )0 )O 10 )O COOO 0 (" O r d" a V 7 M y O COco ` 0 d (— o o a _ ~ a2 % c * C c a a d o O E O V 7 V V N co o C .vM co w •� a+ Co N i i i i 5 et 3 a O Co a o 0 0 0 0 0 o m t9 u. 3 co I2 c 0 0 "c5 4:0r N O O 10 0) N 0 0 (O N o r n 0 C4 0 0 0 CO O )O O N O 0LL N W N co. Nit) 0. N M r N el O aN N 01 N— COaO O E O N 8 co a f0 r N CO c 0 o c C CO m @ O O N N N N N N z N @@ m f0 2 2 u) CO CO I= 2 al N QQU 0 O. c c o a O O C 43 a) 5EEa) « a 0 0 a) 0 0 U C F' n Co Co Co L Co - L ` O O a) a) co < m O 0 O 0 re c +O+ COo Co CN/1 @N/! +s" j O 2 g a a a Z a H J J J J H m r N CO V b CO N- O V -0 'O V V -0 V V m m CO CO CO CO CO m 0 o 03 0 0 00 Otcll r2 0 0 O O m ID CD CO 0 1, C 171 LL - 9- Cost Approach Direct Cost of Exsisting Improvements Building: 72,698 Square Feet @ $ 10.73 per square feet $ 780,195 Site Improvements SF 197,762 @ $ 0.79 $ 155,441 Total Direct Cost $ 935,636 Developers Indirect Cost and Profit @ 10% $ 93,564 (Actual 6.5%) Replacement Cost New $ 1,029,199 Depreciation, which is a loss in value of improvements, may be thought of in three catagories. Physical Depreciation: Economic Depreciation: Functional Depreciation: Depreciated Improvement Value $ 1,029,199 Add land to Value $ 2.88 $ 569,555 Total $ 1,598,754 Rounded $ 1,599,000 - 10 - GENERAL CONSTRUCTION PERMIT Town of Frederick Permit Number n 4 - 1 0 U Building Inspections 401 Locust Street • Frederick, CO 80530 Date of Application: 3 -/(9 - D'- (303)833-2388 • Fax (303) 833-3817 PLEASE TYPE OR PRINT IN INK IMPORTANT: ENTER ALL DATA NECESSARY FOR A COMPLETE DESCRIPTION OF THE PROJECT PROPERTY DDRESS CO TY ISIS) BLOCK(S) BDIVISION L(OC,► Iiru;A ��IUc1 fnl)1.'Id 1 t,r I PROPERTY OWNER OWNER'S MAILING ADDRESS PHONE(pp,Y) en f(Si,J,C ` '5o :`'r ' CONTRCC OR NAME OF FIRM CONTACT 1 TOWN LICENSE NUMBER TELEPHONE NUMBER Buildln MU LLfv -m ki Qrc\c,.J t _. - -10 - bl Electrical IGQ'�'r.±e0eel�^ GIt. r I�. S�'L.v4 n(V tt ?fl1 )1-1— Plumbing PA `M? ktir'lCO` LULL \ INUm),YC Szck--. Mechanical PERMIT TYPE OCCUPANCY CLASS TYPE OF CONST BUILDING USE R- i / I-I 1.--N OFfitt Bedrooms Baths Deck Porch Garage Area Living Area(Finished) Setbacks(In Feet) North South East West Basement(Finished) Basement(Unfinished) No.of Stoles Bldg.Height ATTACH PLANS,SPECIFICATIONS,DRAWINGS,AND OTHER SUPPORTING DOCUMENTS;PLOT PLANS MUST BE FULLY DIMENSIONED. DESCRIPTION OF WORK . MODEL NO. OW(K... Re;t \''kw,ciz. 'b .(F S-oruse._, V-cc1ty • TOTAL JOR COST ESTIMATE: S 1 aa) / MATERIAL COST ESTIMATE: S 1003 (CONTRACTOR VALUE) [JLN NOTICE TO ALL APPLICANTS: TO SCHEDULE AN INSPECTION,CALL (303)833-0881. THE PERMIT EXPIRES 180 DAYS FROM THE DATE OF ISSUE,UNLESS WORK IS STARTED. BUILDING AND IMPROVEMENTS MUST CONFORM TO THE PLANS SUBMITTED TO THE TOWN;ANY CHANGES MUST BE APPROVED PRIOR TO CHANGES BEING MADE. IWE AGREE TO PERFORM THE WORK DESCRIBED HEREIN IN ACCORDANCE Wm/THE PLANS MOOR SPECIFICATIONS SUBMITTED.AU.WORK DONE SHALL BE IN PAID For office use only COMPLIANCE WITH ALL APPLICABLE CODES AND REGULATIONS OF THE TOWN OF FREDERIGC.W/E AGREE THAT NO WORK WOULD BE INITIATED WITHOUT THIS - FEES APPLICATION BEING APPROVED. LAVE ARE AWARE THAT ANY VIOLATION OF CO APPLICABLE CODES AND REGULATIONS CAN[/.CAUSE RE\VOCATION OF THIS PERMIT. CF{ECK# Valuation $(15) 000 ! V`�' Per Fee w . I1 REC'D BY Plan Review • A t . rC Construction Meter A _ Cø GNATU E OF APPLICANT El Other.: Othe 1ccc,,, �� -y \ Water Tap Fees eQ c,. ZONING DISTRICT ZONING I v CWWC Capital Imp. Fredridc Capital Imp. FLOODPLA L E{) ��4 C-BT Water Share led e.,,Tow APPROVAL gyp,\ N. 'L TaImpactInstallation Fees: —yea `7 °\ General Capital 1. 1� Electrical 141 . Gi 3i Park Improvement �► .1 Open Space . Ill SI t NAT 'E OF OFFICIAL 1 • __A_ / / AAA �.•I r nsport ti • 1 I Other Fees: , Plan Review Notes: //1.,0 b/ �/L ,�C—'v e � Fire Report(comm.) Sales 8.Use Tax(2.5%) i r I a5.op G L i-c6 /! C'o Cif /7 Landscape Deposit (comm.) s G C 2. { p r TOTAL FEES S]r ,b 10. 1`1 : //ca. - 11- GENERAL CONSTRUCTION PERMIT Town of Frederick Permit Number: 04 - f i Building Inspections 1/�/ , , 401 Locust Street • Frederick, CO 80530 Date of Application: `i '. (303) 833-2388 • Fax(303) 833-3817 PLEASE TYPE OR PRINT IN INK IMPORTANT: ENTER ALL DATA NECESSARY FOR A COMPLETE DESCRIPTION OF THE PROJECT PROPERTY ADDRESS 0 COUNTY LOA(S) BLOCK(S) SNBDIVISION LIDS' bfoin I' (VCl ) B'--t'r P OPERTY. WNER- OWNER'S MAILING ADDRESS PHONE(DAY) i1,an r'Ict1-('& CONTRACTOR``NC j j NAME OF FIRM "-FAA l �7;TOWN LICENSE NUMBER TELEPHONE NUMBER Building /1/t vl..V,'u-c, FAA X�S--ts-A '�il Electrical i t IQC{ ,,:�'11 GiecTY;C 3cJ�?)7 --n MPlechanical ,v/ Mechanical PERMIT TYPE OCCUPANCY CLASS TYPE OF CONST BUILDING USE 5_j 1143 i{bt nti Bedrooms Baths Deck Porch Garage Area LMng Area(Finished) Setback's(In Feet) North South East West Basement(Finished) Basement(Unfinished) No.of Stories Bldg.Height ATTACH PLANS,SPECIFICATIONS,DRAWINGS,AND OTHER SUPPORTING DOCUMENTS;PLOT PLANS,MUST BE FULLY DIMENSIONED. DESCRIPTION OF WORK` -{. \ c } MODEL NO. -p Al �►1LIC�1J1; P1 Q, 1�':✓1 r�ick) 11 SIl�r'C x` l"1 - ' ' 73 53.3' 2-) /4 '' / ib ((((`-��1'�\ C / tt i '1 s-0 TOTAL JOt}COST ESTIMATE: $ u'Ic4,�l�, C ;15_,_(--)TER TIMA ' (CONTRACTOR VALUE) "``��lllldddd ( NOTICE TO ALL APPLICANTS: TO SCHEDULE AN INSPECTION,CALL (303)833-0661. THE PERMIT EXPIRES 180 DAYS FROM THE DATE OF ISSUE,UNLESS WORK IS STARTED. BUILDING AND IMPROVEMENTS MUST CONFORM TO THE PLANS SUBMITTED TO THE TOWN;ANY CHANGES MUST BE APPROVED PRIOR TO CHANGES BEING MADE. VWE AGREE TO PERFORM THE WORK DESCRIBED HEREIN IN ACCORDANCE WITH THE PLANS AND/OR SPECIFICATIONS SUBMITTED.ALL WORK DONE SHALL BE IN PAID For office use only COMPLIANCE WITH ALL APPLICABLE CODES AND REGULATIONS OF THE TOWN OF FEES FREDERICICVWE AGREE THAT NO WORK WOULD BE INITIATED WITHOUT THIS APPLICATION.BEING APPROVED. WVE ME AW TINT VIOLATION OF ��/1 ()0 APPLICABLE CODES AND REGULATIONS CAT C SE REVOCATION OF THIS PERMIT. CHECK# Valuation $.50Q 0L.V. PermitFee4fMb > PlanRevbw r r1Ofr 9 , ,p) //// Cautuction Meter ElegyGNATURT Other Water Tap Fees CWWC Capital Imp. / ZONING DISTRICT ZONING COMPLIANCE {} Freddck Capital Imp. FLOODPLAIN COMPLIANCE{} C-BT Water Share Tap Installation TOWN , +V. 1, ! Impact Fess: General Capital I \ Electrical A ► _ Park Improvement 14:-I., .� Date: .3' -�� Open Sppaee , 1 IGNAT.•E u•r nc. ,. T $f5341 0� A F4 r-r: , � r °`nai 6,41510 5 Other F • Plan Review Notes: D ,' I , (14 Sales&Use Tax(2.5%) ry A Ot DC) �,� t} `- Fire Report(comm.) I i t Landscape Deposit (comm.) _ I e,�. a 1 S_1_ TOTAL FEES $x1353513?-• SY='" - 12- GENERAL CONSTRUCTION PERMIT Town of Frederick Permit Number: OS —131 Building Inspections 401 Locust Street • Frederick, CO 80530 Date of Application: O 3 - O15 , O S (303)833-2388 • Fax (303)833-3817 PLEASE TYPE OR PRINT IN INK IMPORTANT: ENTER ALL DATA NECESSARY FOR A COMPLETE DESCRIPTION OF THE PROJECT PROPERTY ADDRESS COUNTY LOT(S) BLOCK(S) SUBDIVISION l `1D 5 1 1620 1 h RE VD, WELD ]A 1 1-5*-Afl Inatas}t:4t --P A;ttS PROPED. OWNER WNER'S MAILING ADD SS PHONE(DAY) I CO N EIsW LCIL onto t 13au;n lv� 303, -OZI 1Z'=-Z . Linz CONTRACTOR NAME OF FIRM CONTACT TOWN LICENSE NUMBER TELEPHONE NUMBER '�TTan inz Building IM m '3 u.Wit ecs DAu:d T'e-ks11en 3o3-76t -2422- L3—d iC EMdritial i'VIA9ec EICG,\t-c-c_ sits(e..t cC Plumbing Mechanical PERMIT TYPE OCCUPANCY CLASS TYPE OF CONST BUILDING USE Bedrooms Baths Deck Porch Garage Area Living Area(Finished) Setback's(In Feet) North South East West Basement(Finished) Basement(Unfinished) No.of Stories 1 Bldg.Height ATTACH PLANS,SPECIFICATIONS,DRAWINGS,AND OTHER SUPPORTING DOCUMENTS;PLOT PLANS MUST BE FULLY DIMENSIONED. DESCRIPTIOa OF WORK MODEL NO. TerwitIc .s -k-c. eVEC* Sidc, ,Il0 ( � Stan Q. CS ev. -VI-le s-i4e,Pta -t -C-0r stcc W Inc -prtc< nPt4noveb . 4p vc\ !)(!' sA TOTAL JOB COST ESTIMATE: S � at,_ MATERIAL COST ESTIMATE: S o (CONTRACTOR VALUE) \ os, on n 5 216OC NOTICE TO ALL APPLICANTS: TO SCHEDULE AN INSPECTION,CALL (303)833-0881. THE PERMIT EXPIRES 180 DAYS FROM THE DATE OF ISSUE,UNLESS WORK IS STARTED. BUILDING AND IMPROVEMENTS MUST CONFORM TO THE PLANS SUBMITTED TO THE TOWN;ANY CHANGES MUST BE APPROVED PRIOR TO CHANGES BEING MADE. NNE AGREE TO PERFORM THE WORK DESCRIBED HEREIN IN ACCORDANCE WITH THE PLANS AND/OR SPECIFICATIONS SUBMITTED.ALL WORK DONE SHALL BE IN PAID For office use only COMPLIANCE WITH ALL APPLICABLE CODES AND REGULATIONS OF THE TOWN OF FEES FREDERICK.PNE AGREE'MAT NO WORK WOULD BE INITIATED WITHOUT THIS APPLICATON BEING APPROVED. NNE ARE AWARE THAT ANY VIOLATION OF APPI ICARI F(:ODES AND REGULATIONS CAN CAUSE REVOCATTION OF THIS PERMIT. CHECK# Valuation Silage) Pemilt Fee L Plan Review �6 y+x /.S `/to i G A -, RECD BY Construction Meter SIGNATURE OF APPLICANT Electrical _"""`' Other. U I NO (;A f� (� !; �i "� i,_ ..T,I Water Tap Fees ZONING DISTRICT ZONING COMPLI N T {I}} V �L �l ', "\ C Capital Imp. FLOODPLAIN COMP '1 CE FreckidcCapital2005 Capital 2005 TOWN APPROVAL I IR Tap Installation Impact Fees: {{ ` General Capital 1 7 "" ��yYY /'� {`)y�(f'-1' Electrical � -� _A I ,'/7 Park Improvement Y/, //A Yy 26.O —�� Date: ` / Park Space SIG RE OF OFFICIAL Transportation 5 Other Fees: Plan Review Notes: Sales Us(T�^2.5%) 1)66=1 ,17 a o ki. - „` Cta. ,(� „� - ,p gn n_„..,.�-_ Fire LReport Deposit (comm.) - 13- ��"��R TOTAL FEES S 3 59/p.9A 9A • GENERAL CONSTRUCTION PERMIT Town of Frederick 'r OS _33-7 Building Inspections r Permit Number. 401 Locust Street • Frederick, CO 80530 ,"Pt Date of Application: 6/30/06 (303)833-2388 • Fax (303)833-3817 - , .ras , ea?yet. PLEIATIPWJRI T INTI�NK v,D •IMPORTANT: ENTER ALL DATA NECESSARY FOR A COMPLETE DESCRIPTION OF THE PROJECT'utn PROM STY ADDEE S/UNIT rr IS) (- COUNTY LOT(S) BLOCK(S) SUBDIVISION 1.<Oy\ tL5tolag WeL.0 $EAR Xn'pUftRIAL. Ark. PROPERTY OWNER OY�+ERS MAILING ADDRESS PHONE(DAY) LIDS 1 13RUftL 13LUD 3b3- 7oz-I22- -- CONTRACTOR NAME OF FIRM CONTACT TOWN LICENSE NUMBER TELEPHONE NUMBER &,tang (i)UQM-A_ t Electrical IrYiPt&ec ElErt. STEVE rv)RGce rifle* Mechanical PERMIT TYPE OCCUPANCY CLASS(ES) TYPE OF CONST BUILDING USE:EXISTING PROPOSED SPRINKLERED? YES NO • Bedrooms Baths Crawl Space Deck Parch Garage Area LNag Area(finished) Setbacks(In Feet) North South East West Basement(Finished) Basement(Unfinished) No.of Stories I Bldg.Height Mezzanine Warehouse Office Other Water Tap Size DESCRIPTION OF WORK MODEL NO. `Pt Ttwttt. Is A-o GRt <T 'aIdc`RFaov+ k c sikE pe'r pr;ot' q*I;tDoeD 'PRAM OPTIONS USED ELECTRICAL VALUATION(COMM.OM_ I TOTAL JOB COST ESTIMATE:$ .p(y Sf Z o O, D..--- MATERIAL COST ESTIMATE$ )Qry (CONTRACTOR VALUE) - t I AI b 00 D a NOTICE TO ALL APPLICANTS: TO SCHEDULE AN INSPECTION.CALL(303)833-0661. THE PERMIT EXPIRES 180 DAYS FROM THE DATE OF ISSUE UNLESS WORK IS STARTED AND INSPECTIONS HAVE BEEN DONE. BUILDING AND IMPROVEMENTS MUST CONFORM TO THE PLANS SUBMITTED TO THE TOWN. ANY CHANGES We agree to perform the work described herein In accordance with the For Office Use only plans and/or specifications submitted. All work done shall be in PAID FEES compliance with all applicable codes and regulations of the Town of L Qu Frederick, Uwe agree that no work would be initiated without this CHECK 1 ValuaOon$ ( J�.c q bO q9 application being approved. 'Ave are aware that any violation of Permit Fee x sEE applicable codes and regulations can cause revocation of this permit REC'D BY Plan Review s/� Construction Meter /-7 /J E Cron- _ z Electrical I 15.`75 10 ATURE APPLICANT Water Tap Fees: CWWC Capital Impr. Frederick Capital Ingo. CDT Water Share Attach plans,specifications,drawings and other supporting documents. Plot plans Tap Installation must be fully dimensional. Impact Fees: General Capital TOWN APPROVAL Electrical iiiPark Improvement �•�h 94C2L Dab: //©� Open Space SI ATURE F FFICIAL Transportation Plan Review Notes: T� rte r' ''i 1 \1 !!' Drainage {\n IIJ l t - I'll e. Omer Fees: 40125-06• U) Sales&Use Tax(2.5%) I .�\ JUL9 1 ,QQ5 • Landscape Deposit (Comm.Only) ,1 I G�-- _ 14_ TOTAL FEES i ifPlif Planning Sign Off Y --_-_--7:_:_--:;;;:---- pnl bib nb GENERAL CONSTRUCTION PERMIT Town of Frederick Permit Number ©1-1 -0a-77 Building Inspections 401 Locust Street • Frederick, CO 80530 • Date of Application: it?-8/0 q (303)833-2388 • Fax (303) 833-3817 PLEASE TYPE OR PRINT IN INK IMPORTANT: ENTER ALL DATA NECESSARY FOR A COMPLETE DESCRIPTION OF THE PROJECT PROPERTY ADDLI S . Vt I n CQU -ry 01 ki-m.t e` LOT(S) j BLOCK(S) SU IVI IONse^�u `��i n f b. PROPERTY OWNER OWNER'S MAILING ADDRESS PHONE D Y i 171 '"(' Ron Eta411, '�sI Kr ;� Kivd 4ec tcs '3 -(aA _'St o CONRACTORS NAME OF FIRM CONTACT TOWN LICENSE NUMBER TELEPHONE NUMBER Building j In rl cr (LA finer Thine, ; 3—Brie —ci Ba.S Electrical Plumbing Mechanical PERMIT TYPE OCCUPANCY CLASS TYPE OF CONST BUILDING USE Bedrooms Baths Deck Porch Garage Area Living Area(Finished) Setback's(In Feet) North South East West Basement(Finished) Basement(Unfinished) No.of Stories Bldg.Height ATTACH PLANS,SPECIFICATIONS,DRAWINGS,AND OTHER SUPPORTING DOCUMENTS;PLOT PLANS MUST BE FULLY DIMENSIONED. DESCRIPTION OF WORK MODEL NO. Si 0I)O a 1 I bet_ , ✓ds aradi a. rtq TOTAL JOB COST ESTIMATE: $ 0O (CONTRACTOR VALUE) i .�. MATERIAL COST ESTIMATE: $ I • NOTICE TO ALL APPLICANTS: TO SCHEDULE AN INSPECTION,CALL (303)833-0661. THE PERMIT EXPIRES 180 DAYS FROM THE DATE OF ISSUE,UNLESS WORK IS STARTED. BUILDING AND IMPROVEMENTS MUST CONFORM TO THE PLANS SUBMITTED TO THE TOWN;ANY CHANGES MUST BE APPROVED PRIOR TO CHANGES BEING MADE. UWE AGREE TO PERFORM THE WORK DESCRIBED HEREIN IN ACCORDANCE WITH THE PLANS AND/OR SPECIFICATIONS SUBMITTED.ALL WORK DONE SHALL BE IN PAID For office use COMPLY nes WITH ALL APPLICABLE CODES AND REGULATIONS OF THE TOWN OF only FREDERICK.VWE AGREE THAT NO WORK WOULD BE INITIATED WITHOUT THIS FEES APPLICATION BEING APPROVED. WYE ARE AWARE THAT ANY VIOLATION OF APPLICABLE CODES AND REGULATIONS CAN REVOCATION OF THIS PERMIT. Valuation $ CHECK# Permit Fee WA j RECD BY Plan Review X_� Contrical on Meter 1 ATU E OF APPLICANT Eledrical Other a, - Water Tap Fees ZONING DISTRICT ZONING CO P . Cri V CWWC Capital Imp. FLOODPLA N C �4 u.AFredridk Capital Imp. C-BT Water Share TO • AP -OVA / JP % 8 2004 Tap Installation Impact Fees: vv General Capital -I , d L)o ?� Electrical Park Improvement SIGNATt-,r" OFF r�. BV r Open Space / . Transportation Tri-Area Drainage Plan Review Notes: a n if. n 71- U n 1.--,e, ( ;Other Fees: Sales&Use Tax(2.5%) I 11 S Pe c 1<'d (� /./ Town Fire Report(Comm.) �` . Landscape Deposit (Comm.) TOTAL FEES $ . c5.- - 1 5- . GENERAL CONSTRUCTION PERMIT Town of Frederick Permit Number: 04 -(}5,9-_, Building Inspections 401 Locust Street • Frederick, CO 80530 •Date of Application: "4c,/o4 (303)833-2388 • Fax(303) 833-3817 PLEASE TYPE OR PRINT IN INK IMPORTANT: ENTER ALL DATA NECESSARY FOR A COMPLETE DESCRIPTION OF THE PROJECT PROPERTYADDRESS COUNTY LOT(S) BLOCK(S) SUBDIVISION 1O S 1 /jru , 6C,1LL. (,'" VJGL I 3 i (-3,1.,._r SraHSirricl - Pc-CV. PROPERTY OWNER OWNER'S MAILING ADDRESS PHONE(DAY) c L-Lsw;`IC 225-1 I-IOLLe.I a-, jre L 303-1-13�i-2211 CONRACTORS NAME OF FIRM CONTACT TOWN LICENSE NUMBER TELEPHONE NUMBER Le Building k) L T:.G�LI l.;`,Ai,-1, (}L1 - i 4 C1 30'3, - ?Jd Y-- 117'1 Electrical 71 G/_qi 2.-At/s- Plumbing Mechanical PERMIT TYPE OCCUPANCY CLASS TYPE OF CONST BUILDING USE Bedrooms Baths Deck Porch Garage Area Living Area(Finished) Setback's(In Feet) North South East West Basement(Finished) Basement(Unfinished) No.of Stories Bldg.Height ATTACH PLANS,SPECIFICATIONS,DRAWINGS,AND OTHER SUPPORTING DOCUMENTS;PLOT PLANS MUST BE FULLY DIMENSIONED. DESCRIPTION OF WORK MODEL NO. $% of o 3', pi- L:F (-'3,1 Crc k2 S L.: b .�o be_ to „ f so< 1/4.cat d TOTAL JOB COST ESTIMATE: $ D d)O t/ MATERIAL COST ESTIMATE: $ (CONTRACTOR VALUE) I 6j 0 do 1 NOTICE TO ALL APPLICANTS: TO SCHEDULE AN INSPECTION.CALL (303)833-0681. THE PERMIT EXPIRES 180 DAYS FROM THE DATE OF ISSUE,UNLESS WORK IS STARTED. BUILDING AND IMPROVEMENTS MUST CONFORM TO THE PLANS SUBMITTED TO THE TOWN;ANY CHANGES MUST BE APPROVED PRIOR TO CHANGES BEING MADE. VWE AGREE TO PERFORM THE WORK DESCRIBED HEREIN IN ACCORDANCE WITH THE PLANS AND/OR SPECIFICATIONS SUBMITTED. ALL WORK DONE SHALL BE IN PAID For office use only COMPLIANCE W rrH ALL APPLICABLE CODES AND REGULATIONS OF THE TOWN OF FREDERICKW/E AGREE THAT NO WORK WOULD BE INITIATED WITHOUT THIS FEES APPLICATION BEING APPROVED. VWE ARE AWARE THAT ANY VIOLATION OF .( —� APPLICABLE CODES AND REGULATIONS CM CAUSE REVOCATION OF THIS PERMIT. CHECK# Valuation $ \ Permit Fee `�_ REC'D BY Plan Review X ( Construction Meter c SIGNATURE OF APPLICANT Electrical O Other. Water Tap Fees CW WC Capital Imp. ZONING DISTRICT ZONING COMPLIANCE Fredrick Capital Imp. FLOODPLAIN COMPLIANCE(} C-BT Water Share • WN AP. O- AL Impact Fees: Tap Installation General Capital Electrical 1 —1‘) _U`( Park Improvement Date: Open Space NATUR CIAL Transportation Tri-Area Drainage Plan Re ew Notes: ( }— a Other Fees: h C ?'"rL / F S `5 0-,n2 Sales&Use Tax(2.5%) g "V'c '�-, At ( / l 004'er� r 5- cam- /, Fire Report(comm.) J tr (, r r MI 'S 0)je a�/) Landscape Deposit (Comm.) r l� ^ ✓ L` S- /-.Ti: ), TOTAL FEES $ GENERAL CONSTRUCTION PERMIT . Town of Frederick Permit Number: Q 'Y -67s Building Inspections 401 Locust Street • Frederick, CO 80530 Date of Application: c/c am/d V (303)833-2388 • Fax (303)833-3817 PLEASE TYPE OR PRINT IN INK L hid. IMPORTANT: ENTER ALL DATA NECESSARY FOR A COMPLETE DESCRIPTION OJF THE PROJECT qnb IPROPEBTY ADDRESS,rui P. F_-)1 � tf c1 COUNTYt {� LOT(S) BLOCK(S)i ma-r,- nd i.(SrriLLl PRgPER OW.N R - OWNER'S LING AggRESS PrUONE(DAY 1�ER G /47itllcC. S'7 WIN _Ur rrie, CU , 0.3- y�l -,)aLil CONTRACTOR NAME OF FIRM CONTACT J TOWN LICENSE NUMBER TELEPHONE NUMBER Building Electrical Plumbing Mechanical _ PERMIT TYPE OCCUPANCY CLASS TYPE OF CONST BUILDING USE Bedrooms Baths Deck Porch Garage Area Living Area(Finished) Setback's(In Feet) North South East West Basement(Finished) Basement(Unfinished) No.of Stories Bldg.Height ATTACH PLANS,SPECIFICATIONS,DRAWINGS,AND OTHER SUPPORTING DOCUMENTS;PLOT PLANS MUST BE FULLY DIMENSIONED. DESCRIPTION OF WORK MODEL NO. 5/K '' L.Da-E-er Ta-p lee TOTAL JOB COST ESTIMATE: S go i I /)A MATERIAL COST ESTIMATE: S (CONTRACTOR VALUE) d r I tTh ' NOTICE TO ALL APPLICANTS: TO SCHEDULE AN INSPECTION.CALL (303)833-0981. THE PERMIT EXPIRES 180 DAYS FROM THE DATE OF ISSUE,UNLESS WORK IS STARTED. BUILDING AND IMPROVEMENTS MUST CONFORM TO THE PLANS SUBMITTED TO THE TOWN;ANY CHANGES MUST BE APPROVED PRIOR TO CHANGES BEING MADE. ME AGREE TO PERFORM THE WORK DESCRIBED HEREIN IN ACCORDANCE WITH THE PLANS AND/OR SPECIFICATIONS SUBMITTED.ALL WORK DONE SHALL BE IN PAID For office use only C OWUANCE WITH ALL APPLICABLE CODES MID REGULATIONS OF THE TOWN OF FEES FRFIWOrs IM'E AGREE THAT NO WORK WOULD BE INITIATED WITHOUT THIS APPLICATION BEING APPROVED. ME ARE AWARE THAT ANY VIOLATION OF APPLICABLE CODES AND REGULATIONS CAN CAUSE REVOCATTION OF THIS PERMIT. CHECK it Valuation -S Permit Fee //�/ REC'D BY Plan Review X / in-n i/✓ i-4 Construction Meter SI N URE OF APPLICANT Electrical Other: Water Tap Fees CWWC Capital Imp. .►T ZONING DISTRICT ZONING COMPLIANCE {} Fredrick Capital Imp. E/171�C1 FLOODPLAIN COMPLIANCE{} CAT Water Share fM.Z ►.1 1 Tap Installation WN APPRO knpact Fees: General Capital Electrical / — — 614( Park Improvement / Dat • Open Space ;NAT OFF i L., >�I Transportation pT , rJu •I'�II ?• Other Fees: Plan Review Notes: a ,.. 'J;rljh _u/ Sales&Use Tax(2.5%) F t_'� ° `" Fire Report(comm.) ) Landscape Deposit (Comm.) • 'JC I LEI '_i7--' TOTAL FEES L LI ttmo BY • GENERAL CONSTRUCTION PERMIT ..51zs-7,V Town of Frederick Permit Number C q -3(✓ 5 Building Inspections 401 Locust Street • Frederick, CO 80530 Date of Application: S lab/ G q (303)833-2388 • Fax (303)833-3817 PLEASE TYPE R PRINT IN INK IMPORTANT: ENTER ALL DATA NECESSARY FOR A COMPLETE DESCRIPTION OF THE PROJECT o 5-724 w,-n '/31,:d PROPFB�TY ADDRS$ COUNTY LOT(S) BLOCK(S) SUBDNISION �<Ll A/ GL5bLl«i< w�1.- v PROPERTY QWNER OWNERS MAILING ADDRESS P O, DAY G 5/S .22 7 1¢m//j 7�nSL C. 307—zs)a -3 `i L, 0 CONTRACTOR NAME OF FIRM CONTACT TOWN LICENSE NUMBER TELEPHONE NUMBER Building Electrical �,y II,��11 n ��., l /7 Plumbing NC b pa,6 Abre-i A-, 2)0YF4- (01, Mechanical PERMIT TYPE OCCUPANCY CLASS TYPE OF CONST BUILDING USE S P A t- V) 1e,, Sys- te, Bedrooms Baths Deck Porch Garage Area Living Area(Finished) Setback's(In Feet) North South East West Basement(Finished) Basement(Unfinished) No.of Stories Bldg.Height ATTACH PLANS,SPECIFICATIONS,DRAWINGS,AND OTHER SUPPORTING DOCUMENTS;PLOT PLANS MUST BE FULLY DIMENSIONED. DESCRIPTION OF Klel S/� V (WORK e_ MODEL NO. TOTAL JOB COST ESTIMATE: S CO O DO V MATERIAL COST ESTIMATE: S Z 000 ,3� (CONTRACTOR VALUE) ] / NOTICE TO ALL APPLICANTS: TO SCHEDULE AN INSPECTION,CALL (303)833-0681. THE PERMIT EXPIRES 180 DAYS FROM THE DATE OF ISSUE,UNLESS WORK IS STARTED. BUILDING AND IMPROVEMENTS MUST CONFORM TO THE PLANS SUBMITTED TO THE TOWN;ANY CHANGES MUST BE APPROVED PRIOR TO CHANGES BEING MADE. VWE AGREE TO PERFORM THE WORK DESCRIBED HEREIN IN ACCORDANCE WITH THE PLANS AND OR SPECIFICATIONS SUBMITTED.ALL WORK DONE SHALL BE IN PAID For office use only COMPLIANCE WITH ALL APPLICABLE CODES AND REGULATIONS OF THE TOWN OF FREDERICK.LWE AGREE THAT NO WORK WOULD BE INITIATED WITHOUT THIS FEES APPLICATION BEING APPROVED. NVE ARE AWARE THAT ANY VIOLATION OF 0 APPUCABI.E CODES AND REGULATIONS CAN CAUSE REVOCAT7ION OF THIS PERMIT. CHECK# Valuation S 41006. Permit Fee q7tir.0 Plan Review X h EI S�i �� REC O BY Construction Meter �` v SIGNATURE OF APPLICANT - Electrical Otl1er: Water Tap Fees CWWC Capital Imp. ZONING DISTRICT ZONING COMPLIANCE {} Fredri Capital Imp. FLOODPLAIN COMPLIANCE{} C-BT Water Share TOWN APPROVAL Tap Installation Impact Fees: kat", Pak Im rovem C Elecbical �� _ a Park Genera! Date: ent Open Space SIGNAT E F OFFICIAL r-, ,� I 1.1,,, Transportation �� I ,t IJ Plan Review Notes: IU) _^ Other Fees: (i1 $2 c JUa 1 Sales 8 Use Tax(2.5%) .7 d• n 1101 AU& d - Ewe Report(comm.) Landscape Deposit (Comm.) ) 18��' TOTAL FEES $ I �7 a5 By Income Approach to Value - 19- • O- © _O Ol N K ! ui a ca o I- 0. co 3 co % Co | ) COk k • ) ) } } k F- k is \ �▪ a O co to �� \ \ \ C , E ae /� ) \ J co & in 2 \7 / } to CO ) - `tii CA IX ; \ r , § ) �7 (0 .0 ;• ! UJ OZ & - c u. ( — O 2 - 01 () � > B ) \ C }l3 co CO ) ( = S ■ - § / � ± ] Jj — co� a2 O afJ # f; \ �� . r � }d ti . J / f k ) ! » ) ) ) , _ ! 2 ! Centennial Self Storage 9051 Bruin Blvd. PROFROMA BASED ON LOCAL MARKET SURVEY Total Operating Revenue 2003-2004 65,275 Rentable @ $ 6.37 $ 415,475.38 2,250 Less Space used by C S S $ 6.37 $ (14,321.25) 63,025 Net Rentable $ 401,154.13 Stabilized Vacancy 20% $ (83,095.08) (Actual Vacancy 1/1/06-58%) $ 318,059.05 Operating Expense 2003-2004 Management On Site $ 53,000 $ 0.81 Management Off Site 11,000 $ 0.17 Phone and Yellow Page Adv. 15,000 $ 0.23 Utilities 23,000 $ 0.35 Insurance 6,000 $ 0.09 Repairs &Maint. 7,600 $ 0.12 Administrative&Professional Ser. 18,000 $ 0.28 Security 4,000 $ 0.06 Grounds and Snow Removal 6,000 $ 0.09 (Taxes in CAP Rate) Self Storage Exp PSF $ 2.20 $ 143,600 $ 143,600.00 Average Expenses from BOMA Net Income from Rental Real Estate $ 174,459 Capitalization Rate 9.5% Plus 2.9 effective 0.124 2004 Mill Rate 100.405 Cap Rate from Summer 2004 Integra Report Indicated Property Value $ 1,406,928 $ 1,406,928 Final Value $ 1,407,000 - 21 - Centennial Self Storage Rent Roll 1/1/2006 1 UNITS Use Size SF Lease Date Tenant 1 000 CSS Outside Office 15x25 375 9/1/05 Office, Office 2 001 Self-Storage 5x10 50 v 3 002 Self-Storage 5x10 50 12/22/05 Eckel, 4 003 Self-Storage 5x10 50 12/18/04 Davis, 5 004 Self-Storage 5x10 50 v 6 005 Self-Storage 5x10 50 v 7 006 Self-Storage 5x10 50 v 8 007 Self-Storage 5x10 50 v 9 008 Self-Storage 5x10 50 v 10 009 Self-Storage 5x10 50 v 11 010 Self-Storage 5x10 50 v 12 011 Self-Storage 5x10 50 v 13 012 Self-Storage 10x10 100 9/8/05 Cowan, 14 013 Self-Storage 10x10 100 9/8/05 Cowan, 15 014 Self-Storage 10x10 100 v 16 015 Self-Storage 10x10 100 v 17 016 Self-Storage 10x10 100 9/17/05 Matzkanin, 18 017 Self-Storage 10x10 100 9/17/05 Matzkanin, 19 018 Self-Storage 10x10 100 9/17/05 Matzkanin, 20 019 Self-Storage 5x10 50 12/12/05 Hartson, 21 020 Self-Storage 10x10 100 8/10/05 Koyen, 22 021 Self-Storage 10x10 100 v 23 023 Self-Storage 10x10 100 v 24 024 Self-Storage 10x10 100 9/29/05 Crighton, 25 025 Self-Storage 10x10 100 9/29/05 Crighton, 26 026 Self-Storage 10x10 100 9/29/05 Crighton, 27 028 Self-Storage 10x10 100 v 28 029 Self-Storage 10x10 100 v 29 030 Self-Storage 5x10 50 v 30 031 CSS Document Storage 5x10 50 31 032 Self-Storage 10x15 150 v 32 033 Self-Storage 10x15 150 v 33 034 Self-Storage 5x5 25 9/10/05 Guzman, 34 035 Self-Storage 5x10 50 v 35 036 Self-Storage 10x15 150 10/24/05 Wright, 36 037 Self-Storage 10x15 150 4/5/05 Corporation, 37 038 Self-Storage 10x25 250 v 38 039 Self-Storage 10x15 150 v 39 040 Self-Storage 10x15 150 9/28/04 Mason, 40 041 Self-Storage 10x15 150 6/21/05 Butler, 41 042 Self-Storage 10x15 150 v 42 043 Self-Storage 10x25 250 5/24/05 Moon, 43 044 Self-Storage 10x15 150 8/20/04 Koyen, 44 045 Self-Storage 10x15 150 8/10/05 Vidauni, 45 046 Self-Storage 5x10 50 12/17/04 Amy, 46 047 Self-Storage 5x5 25 10/16/04 Gumas, 47 048 Self-Storage 5x10 50 v - 22- Centennial Self Storage Rent Roll 1/1/2006 2 48 049 Self-Storage 5x5 25 v 49 050 Self-Storage 5x10 50 8/30/05 Bolte, 50 051 Self-Storage 10x10 100 5/3/05 Jacobs, 51 052 Self-Storage 10x10 100 v 52 053 Self-Storage 10x10 100 2/6/05 Jacobs, 53 054 Self-Storage 10x10 100 v 54 055 Self-Storage 10x10 100 v 55 056 Self-Storage 10x10 100 10/8/04 Fidao, 56 057 Self-Storage 10x10 100 v 57 058 Self-Storage 10x10 100 v 58 059 Self-Storage 10x10 100 v 59 060 Self-Storage 10x10 100 v 60 061 Self-Storage 5x10 50 v 61 062 Self-Storage 5x10 50 v 62 063 Self-Storage 5x5 25 8/22/05 Pritchard 63 064 Self-Storage 10x10 100 7/21/05 64 065 Self-Storage 10x10 100 9/15/05 Miller, 65 066 Self-Storage 10x10 100 7/22/05 Rogers, 66 067 Self-Storage 10x10 100 9/9/05 Stoevener, 67 068 Self-Storage 10x10 100 v 68 069 Self-Storage 10x10 100 v 69 070 Self-Storage 10x10 100 v 70 071 Self-Storage 10x10 100 9/2/05 Shilling, 71 072 Self-Storage 10x10 100 v 72 073 Self-Storage 10x10 100 8/8/05 Gorham, 73 074 Self-Storage 10x10 100 7/17/05 Herrington, 74 075 Self-Storage 10x10 100 11/5/05 Martin, 75 076 Self-Storage 10x10 100 1/13/05 Denton, 76 077 Self-Storage 5x10 50 v 77 078 Self-Storage 10x10 100 7/16/05 Dockins, 78 079 Self-Storage 10x10 100 6/25/05 Heidom, 79 080 Self-Storage 10x10 100 12/20/05 Bunker, 80 081 Self-Storage 10x10 100 v 81 082 Self-Storage 10x10 100 v 82 083 Self-Storage 10x10 100 12/26/05 Stewart, 83 084 Self-Storage 10x10 100 v 84 085 Self-Storage 10x10 100 8/22/05 Kimble, 85 086 Self-Storage 10x10 100 11/20/04 Pink, 86 087 Self-Storage 10x10 100 11/24/04 Pink, 87 088 Self-Storage 10x10 100 11/12/05 Diapaolo, 88 089 Self-Storage 10x10 100 2/3/05 Matthews, 89 090 Self-Storage 10x10 100 11/13/05 Miller, 90 091 Self-Storage 10x10 100 9/26/05 Klinger, 91 092 Self-Storage 10x10 100 12/28/05 Hintz, 92 093 Self-Storage 10x10 100 12/10/05 Cook, 93 094 Self-Storage 10x10 100 v 94 095 Self-Storage 10x10 100 9/16/05 Dixon, 95 096 Self-Storage 10x10 100 6/6/05 Cole, 96 097 Self-Storage 10x10 100 8/13/05 Navarro, 97 098 Self-Storage 10x10 100 6/1/05 Powell, 98 099 Self-Storage 10x15 150 5/14/05 Oliver, 99 100 Self-Storage 10x15 150 v - 23- Centennial Self Storage Rent Roll 1/1/2006 3 100 101 Self-Storage 10x15 150 3/2/05 Gordon, 101 102 Self-Storage 10x15 150 v 102 103 Self-Storage 10x15 150 8/26/04 Moe, 103 104 Self-Storage 10x15 150 v 104 105 Self-Storage 10x15 150 v 105 106 Self-Storage 10x15 150 9/18/05 Cox 106 107 Self-Storage 10x15 150 8/3/05 Hein, 107 108 Self-Storage 10x15 150 v 108 109 Self-Storage 10x15 150 7/11/04 Britton, 109 110 Self-Storage 10x15 150 9/24/05 Pound, 110 111 Self-Storage 10x15 150 10/11/05 Meyer 111 112 Self-Storage 10x15 150 v 112 113 Self-Storage 10x15 150 v 113 114 Self-Storage 10x15 150 9/21/04 Hughes, 114 115 Self-Storage 10x10 100 7/15/05 Hughes, 115 116 Self-Storage 10x10 100 11/11/04 McClure, 116 117 Self-Storage 10x10 100 v 117 118 Self-Storage 10x10 100 7/24/04 Hervey, 118 119 Self-Storage 10x10 100 v 119 120 Self-Storage 5x10 50 8/27/04 Atkinson, 120 121 Self-Storage 10x10 100 7/5/04 Marquez, 121 122 Self-Storage 10x10 100 10/16/05 Buckendorf, . 122 123 Self-Storage 10x10 100 8/7/04 Zamarron, 123 124 Self-Storage 10x10 100 11/8/04 Fairley, 124 125 Self-Storage 10x10 100 v 125 126 Self-Storage 10x10 100 10/31/05 Medina, 126 127 Self-Storage 10x10 100 9/26/05 Bischoff, 127 128 Self-Storage 10x10 100 10/30/04 Wolf, 128 129 Self-Storage 10x10 100 9/10/05 Pickering, 129 130 Self-Storage 10x10 100 2/13/05 Collins, 130 131 Self-Storage 10x10 100 8/5/05 O'Hair, 131 132 Self-Storage 10x10 100 8/30/05 Gumas, 132 133 CSS Work Shop 10x20 200 133 134 SS Misc Work Shop Stora£ 10x20 200 134 135 CSS Golf Cart Storage 10x20 200 135 136 Self-Storage 10x20 200 12/27/04 Morgan, 136 137 Self-Storage 10x20 200 10/13/05 Murphy, 137 138 Self-Storage 10x20 200 7/2/04 Formby, 138 139 Self-Storage 10x20 200 10/15/05 Copp, 139 140 Self-Storage 10x20 200 11/9/05 Hiatt, 140 141 Self-Storage 10x20 200 v 141 142 Self-Storage 10x20 200 6/9/04 Doering, 142 143 Self-Storage 10x20 200 v 143 144 Self-Storage 10x20 200 7/3/04 Pittman, 144 145 Self-Storage 10x20 200 v 145 146 Self-Storage 10x20 200 8/1/05 Osterlund, 146 147 Self-Storage 10x20 200 v 147 148 Self-Storage 10x20 200 11/14/04 Sherman, 148 149 Self-Storage 10x20 200 1/26/06 Thompson, 149 150 Self-Storage 10x20 200 10/31/04 Perry, 150 151 Self-Storage 10x20 200 12/1/04 Marshall, 151 152 Self-Storage 10x20 200 11/18/04 Rios, -24- Centennial Self Storage Rent Roll 1/1/2006 4 152 153 Self-Storage 10x20 200 7/30/04 Stokes, 153 154 Self-Storage 10x20 200 v 154 155 Self-Storage 10x20 200 12/1/05 Davis, 155 156 Self-Storage 5x5 25 v 156 157 Self-Storage 10x20 200 12/18/04 Davis 157 158 Self-Storage 10x20 200 9/5/04 Friedli, 158 159 Self-Storage 10x20 200 9/28/04 Maras, 159 160 Self-Storage 10x20 200 v 160 201 Self-Storage 5x10 50 12/21/05 Marshall, 161 202 Self-Storage 5x10 50 8/16/05 Prine, 162 203 Self-Storage 5x10 50 1/25/05 Cline, 163 204 Self-Storage 5x10 50 v 164 205 Self-Storage 5x10 50 8/13/04 Richardson 165 206 Self-Storage 5x10 50 12/4/04 Rudolph, 166 207 Self-Storage 5x10 50 8/30/05 Jolly, 167 208 Self-Storage 5x10 50 9/17/04 Foerst, 168 209 Self-Storage 5x10 50 4/16/05 Robinson, 169 210 Self-Storage 5x10 50 v 170 211 Self-Storage 5x10 50 8/21/05 Metcalf, 171 212 Self-Storage 5x10 50 v 172 213 Self-Storage 5x10 50 11/27/05 Clark, 173 214 Self-Storage 5x10 50 11/19/05 Brady, 174 215 Self-Storage 5x10 50 7/2/05 Zietz, 175 216 Self-Storage 5x10 50 v 176 217 Self-Storage 5x10 50 1/20/05 Morris, 177 218 Self-Storage 5x10 50 v 178 219 Self-Storage 10x10 100 v 179 220 Self-Storage 10x10 100 v 180 221 Self-Storage 10x10 100 4/4/05 Hill, 181 222 Self-Storage 10x10 100 10/19/04 Platt, 182 223 Self-Storage 10x10 100 v 183 224 Self-Storage 10x10 100 3/26/05 Dunn, 184 225 Self-Storage 10x10 100 v 185 226 Self-Storage 10x10 100 8/8/05 Sigman, 186 227 Self-Storage 10x10 100 v 187 228 Self-Storage 10x10 100 6/8/05 Divish, 188 229 Self-Storage 10x10 100 5/1/05 Melton, 189 230 Self-Storage 10x10 100 6/9/05 Giggey, 190 231 Self-Storage 10x10 100 v 191 232 Self-Storage 10x10 100 4/20/05 Berg, 192 233 Self-Storage 10x10 100 10/14/05 Phifer, 193 234 Self-Storage 10x10 100 6/17/05 Lusk, 194 235 Self-Storage 10x10 100 v 195 236 Self-Storage 5x5 25 v 196 237 Self-Storage 5x10 50 6/5/05 Case, 197 238 Self-Storage 10x10 100 v 198 239 Self-Storage 10x10 100 v 199 240 Self-Storage 10x10 100 v 200 242 Self-Storage 10x10 100 v 201 243 Self-Storage 10x10 100 v 202 244 Self-Storage 10x10 100 v 203 245 Self-Storage 10x10 100 3/21/05 Holloway, - 25- Centennial Self Storage Rent Roll 1/1/2006 5 204 246 Self-Storage 10x10 100 11/29/05 Morissette, 205 247 Self-Storage 10x10 100 3/19/05 Brown, 206 248 Self-Storage 5x10 50 v 207 249 Self-Storage 5x5 25 4/18/05 Waller, 208 250 Self-Storage 10x10 100 v 209 251 Self-Storage 10x10 100 v 210 253 ' Self-Storage 10x10 100 v 211 254 Self-Storage 10x10 100 v 212 255 Self-Storage 10x10 100 2/5/05 Giesey, 213 256 Self-Storage 10x10 100 4/4/05 Gifford, 214 257 Self-Storage 10x10 100 215 258 Self-Storage 10x10 100 12/29/05 Lundine, 216 259 Self-Storage 5x10 50 217 260 Self-Storage 5x5 25 12/4/05 Ramirez, 218 261 Self-Storage 5x10 50 7/8/04 Forsberg 219 262 Self-Storage 5x10 50 12/13/05 Sosa, 220 263 Self-Storage 5x10 50 v 221 264 Self-Storage 5x10 50 v 222 267 Self-Storage 10x10 100 v 223 268 Self-Storage 10x10 100 9/3/05 Schiers, 224 269 Self-Storage 10x10 100 v 225 270 Self-Storage 10x10 100 12/1/05 Johnson, 226 271 Self-Storage 10x10 100 v 227 272 . Self-Storage 10x10 100 v 228 273 Self-Storage 10x10 100 12/14/05 Maypole, 229 274 Self-Storage 10x10 100 10/14/04 Kaffl, 230 275 Self-Storage 10x20 200 9/21/05 Netherton, 231 276 Self-Storage 10x10 100 v 232 277 Self-Storage 10x10 100 v 233 278 Self-Storage 10x10 100 v 234 279 Self-Storage 10x10 100 v 235 280 Self-Storage 10x10 100 v 236 281 Self-Storage 10x10 100 9/14/05 Berger, 237 282 Self-Storage 10x10 100 v 238 283 Self-Storage 10x10 100 v 239 284 Self-Storage 10x20 200 5/3/05 Berger, 240 285 Self-Storage 10x10 100 v 241 286 Self-Storage 10x10 100 12/9/05 Manique, 242 287 Self-Storage 10x10 100 12/1/05 McDaniel, 243 288 Self-Storage 10x10 100 v 244 289 Self-Storage 10x25 250 v 245 290 Self-Storage 10x10 100 5/6/06 Dooley, 246 301 Self-Storage 10x15 150 v 247 302 Self-Storage 10x15 150 12/16/04 Denton, 248 303 Self-Storage 10x15 150 v 249 304 Self-Storage 5x10 50 12/8/04 Sjoberg, 250 305 Self-Storage 5x10 50 v 251 306 Self-Storage 5x10 50 6/5/05 Shanks, 252 307 CSS Packaging 10x25 250 253 308 Self-Storage 10x25 250 12/31/05 Hepp, 254 309 Self-Storage 10x25 250 4/1/05 Eckert, 255 310 Self-Storage 10x25 250 10/5/04 Stanoff, - 26- Centennial Self Storage Rent Roll 1/1/2006 6 256 311 Self-Storage 10x25 250 5/25/05 Green, 257 312 Self-Storage 10x25 250 v 258 313 Self-Storage 10x25 250 v 259 314 Self-Storage 10x25 250 v 260 315 Self-Storage 10x25 250 v 261 316 Self-Storage . 10x25 250 v 262 317 Self-Storage 10x25 250 v 263 318 Self-Storage 10x25 250 v 264 319 Self-Storage 10x25 250 v 265 320 Self-Storage 10x30 300 6/8/05 Przybilla, 266 321 Self-Storage 10x30 300 2/28/05 Holloway, 267 322 Self-Storage 10x30 300 8/11/05 Cummings, 268 323 Self-Storage 10x30 300 v 269 324 Self-Storage 10x30 300 8/16/05 Tacoronte, 270 325 Self-Storage 10x30 300 v 271 326 Self-Storage 10x30 300 11/16/05 Cowan, 272 327 Self-Storage 10x30 300 11/20/05 Shaw, 273 328 Self-Storage 10x30 300 11/28/05 Collupy, 274 329 Self-Storage 10x30 300 11/28/05 Hoffman, 275 330 Self-Storage 10x30 300 12/10/05 Lanford, 276 331 Self-Storage 10x30 300 12/1/05 Waters, 277 332 Self-Storage 10x30 300 v 278 333 Self-Storage 10x30 300 v 279 334 Self-Storage 10x10 100 7/22/05 Petrack, Tom 280 335 Self-Storage 10x10 100 v 281 336 Self-Storage 10x10 100 v 282 337 Self-Storage 10x15 150 7/27/04 Scott, 283 338 Self-Storage 10x15 150 v 284 339 Self-Storage 10x20 200 v 285 340 Self-Storage 10x20 200 6/1/05 Dragoo, 286 341 Self-Storage 10x20 200 v 287 342 Self-Storage 10x20 200 3/19/05 Haan, 288 343 Self-Storage 10x20 200 v 289 344 Self-Storage 10x20 200 v 290 345 Self-Storage 10x20 200 10/1/05 Sewell, 291 346 Self-Storage 10x20 200 v 292 347 Self-Storage 10x20 200 v 293 348 Self-Storage 10x20 200 v 294 349 Self-Storage 10x20 200 v 295 350 Self-Storage 10x20 200 v 296 351 Self-Storage 10x25 250 v 297 352 Self-Storage 10x25 250 v 298 353 Self-Storage 10x25 250 v 299 354 Self-Storage 10x25 250 v 300 355 Self-Storage 10x25 250 v 301 356 Self-Storage 10x25 250 v 302 357 Self-Storage 10x25 250 v 303 358 Self-Storage 10x25 250 v 304 359 Self-Storage 10x25 250 v 305 360 Self-Storage 10x25 250 v 306 361 Self-Storage 10x25 250 v 307 362 Self-Storage 10x25 250 11/26/05 Jumper -27- Centennial Self Storage Rent Roll 1/1/2006 7 308 363 Self-Storage 5x10 50 v 309 364 CSS Misc Storage 10x15 150 310 401 Self-Storage 5x5 25 v 311 402 CSS Misc Const Storage 5x15 75 312 403 CSS Misc Auction Storage 10x15 150 313 404 Self-Storage 10x15 150 v 314 405 Self-Storage 10x15 150 5/24/05 Lips, 315 406 Self-Storage 10x15 150 5/25/05 East, 316 407 Self-Storage 10x15 150 6/6/05 Campbel, 317 408 Self-Storage 10x15 150 11/11/05 Thomas, 318 409 Self-Storage 10x15 150 v 319 410 Self-Storage 10x15 150 v 320 411 Self-Storage 10x15 150 v 321 412 Self-Storage 10x15 150 v 322 413 Self-Storage 10x15 150 v 323 414 Self-Storage 10x15 150 10/15/05 Warner, 324 415 Self-Storage 10x15 150 v 325 416 Self-Storage 10x15 150 10/29/05 Peter, 326 417 Self-Storage 10x15 150 v 327 418 Self-Storage 10x15 150 v 328 419 Self-Storage 5x15 75 v 329 420 Self-Storage 5x15 75 v 330 421 Self-Storage 5x15 75 v 331 422 Self-Storage 5x15 75 v 332 423 Self-Storage 5x15 75 v 333 424 Self-Storage 5x15 75 v 334 425 Self-Storage 5x15 75 v 335 426 Self-Storage 5x15 75 v 336 427 Self-Storage 5x15 75 v 337 428 Self-Storage 5x15 75 v 338 429 Self-Storage 5x15 75 v 339 430 Self-Storage 5x15 75 v 340 431 Self-Storage 10x30 300 6/7/05 Fishman, 341 432 Self-Storage 10x15 150 v 342 433 Self-Storage 10x15 150 11/19/05 McMenemy, 343 434 Self-Storage 10x15 150 v 344 435 Self-Storage 5x10 50 11/11/05 Weisser, 345 436 Self-Storage 5x10 50 v 346 437 Self-Storage 5x10 50 v 347 438 Self-Storage 5x10 50 v 348 439 Self-Storage 10x30 300 v 349 441 Self-Storage 10x15 150 v 350 442 Self-Storage 10x15 150 v 351 443 Self-Storage 10x15 150 v 352 444 Self-Storage 10x15 150 v 353 445 Self-Storage 10x15 150 v 354 446 Self-Storage 10x15 150 v 355 447 Self-Storage 10x15 150 v 356 448 Self-Storage 10x15 150 v 357 449 Self-Storage 10x15 150 v 358 450 Self-Storage 10x15 150 11/27/05 Simpson, 359 451 Self-Storage 10x15 150 12/10/05 Johnson, -28- Centennial Self Storage Rent Roll 1/1/2006 8 360 452 Self-Storage 10x15 150 v 361 453 Self-Storage 10x15 150 v 362 454 Self-Storage 10x15 150 v 363 455 Self-Storage 10x15 150 v 364 456 Self-Storage 10x15 150 v 365 457 Self-Storage 10x15 150 v 366 458 Self-Storage 10x15 150 v 367 459 Self-Storage 10x15 150 v 368 460 Self-Storage 10x15 150 v 369 461 Self-Storage 10x15 150 10/1/05 Browne, 370 462 Self-Storage 10x15 150 v 371 463 Self-Storage 10x20 200 v 372 464 Self-Storage 10x20 200 v 373 601 Self-Storage 5x15 75 v 374 602 Self-Storage 5x15 75 v 375 603 Self-Storage 5x15 75 v 376 604 Self-Storage 5x15 75 v 377 605 Self-Storage 5x15 75 v 378 606 Self-Storage 5x15 75 9/17/05 Lopez, 379 607 Self-Storage 10x20 200 8/19/05 Weigel, 380 608 Self-Storage 10x20 200 v 381 609 Self-Storage 10x20 200 v 382 610 Self-Storage 10x20 200 v 383 611 Self-Storage 10x20 200 v 384 612 Self-Storage 10x20 200 v 385 613 Self-Storage 10x20 200 v 386 614 Self-Storage 10x20 200 10/28/05 Deberle, 387 615 Self-Storage 10x20 200 11/14/05 Sadler, 388 616 Self-Storage 10x20 200 9/23/05 Martinez, 389 617 Self-Storage 10x20 200 v 390 618 Self-Storage 10x20 200 v 391 619 Self-Storage 10x20 200 v 392 620 Self-Storage 10x20 200 v 393 621 Self-Storage 10x20 200 v 394 622 Self-Storage 10x20 200 v 395 623 Self-Storage 10x20 200 v 396 624 Self-Storage 10x20 200 v 397 625 Self-Storage 10x10 100 v 398 626 Self-Storage 10x20 200 v 399 627 Self-Storage 10x20 200 v 400 628 Self-Storage 10x20 200 v 401 629 Self-Storage 10x20 200 v 402 630 Self-Storage 10x10 100 v 403 631 Self-Storage 10x10 100 v 404 632 Self-Storage 10x20 200 v 405 633 Self-Storage 10x30 300 v 406 634 Self-Storage 10x20 200 v 407 635 Self-Storage 10x20 200 v 408 636 Self-Storage 10x20 200 v 409 637 Self-Storage 10x20 200 v 410 638 Self-Storage 10x20 200 v 411 639 Self-Storage 10x20 200 v - 29- Centennial Self Storage Rent Roll 1/1/2006 9 412 640 Self-Storage 10x20 200 v 413 641 Self-Storage 10x20 200 v 414 642 Self-Storage 10x20 200 v 415 643 Self-Storage 10x20 200 v 416 644 Self-Storage 10x20 200 v 417 645 Self-Storage 10x20 200 v 418 646 Self-Storage 10x20 200 v 419 647 Self-Storage 10x20 200 v 420 648 Self-Storage 10x20 200 v 421 649 Self-Storage 10x20 200 v 422 650 Self-Storage 10x20 200 9/23/05 Frizzell, 423 651 Self-Storage 10x10 100 v 424 701 Self-Storage 10x15 150 v 425 702 Self-Storage 10x15 150 v 426 703 Self-Storage 10x15 150 v 427 704 Self-Storage 10x30 300 v 428 705 Self-Storage 10x30 300 v 429 706 Self-Storage 10x30 300 7/8/04 Fulford, 430 707 Self-Storage 10x30 300 v 431 708 Self-Storage 10x30 300 v 432 709 Self-Storage 10x30 300 v 433 710 Self-Storage 10x30 300 v 434 711 Self-Storage 10x30 300 10/20/04 Perry, 435 712 Self-Storage 10x30 300 v 436 713 Self-Storage 10x30 300 v 437 714 Self-Storage 10x30 300 v 438 715 Self-Storage 10x30 300 v 439 716 Self-Storage 10x30 300 v 440 717 Self-Storage 10x30 300 v 441 718 Self-Storage 10x30 300 v 442 719 Self-Storage 10x30 300 v 443 720 CSS Const. Storage 10x30 300 444 721 Self-Storage 10x30 300 v 445 722 Self-Storage 10x30 300 v 446 723 CSS Const. Storage 10x30 300 447 724 Self-Storage 10x30 300 10/30/05 Platt, 448 725 Self-Storage 10x30 300 8/14/05 Davison, Total 65,275 Total Vacant 38,125 58%Vacant 1/1/06 Total SF used by CSS 2,250 Total Units 448 Units Used by CSS 11 -30- "), , SELF r„ l�STORAGE 'ASSOCIATION I Financial ands ` =' f Operational Characteristics of / elf Storage Facilities I 1 £. f y Ff.t 2005 Edition 4. Prquced pd Distributed by the Self Storage Association 1 , -31 - a o z � sg 0, a m a 2 m L ' o c o Fi, m (g) o o m 0o m u v m LL 0 o v Vl Z. v m Y V, F N v I- Q C O 4.0 o m,v A -r';"',41::III ll c; x�� :4- dY k V >, r rt 'P '-'ry Q x ,I ':` COm m m �J 0 Y O Q Co o a Y R v 1,4 /� k o ,, . a '7'CD o �+� ,: a Bk' 3 Ti L E U h i .t.14 **t.> d - CO...., 0 V� 0 CD CI) L. - t Ilk - 32- Average Occupancy Rates for Facilities Open at Least One Year SSA Region Code=Plains 2003Q4 2004Q1 2004Q2 200403 Units I Sq Ft Units Sq Ft Units I Sq Ft Units I Sq Ft Facility Age Urban 5'YcanorL6ss_ 70.8% 71.0% 63.3% 59.7% 62.6% 56.9% 69.3% 69.2% Ydan&Older 82.4% 84.0% 81.8% 82S% 80.0% 82.3% 76.8% 80.8% Suburban 5 Years-,or ten 704% 70.6% 71.5% 71.9% 775% 78.7°. 77.6°/. 79.7% 6 Yean&Older, 72.0% 74.9% 76.4% 78.6% 83.6% 84.7% 79.6% 75.0% Facility Type I Urban Traditional 80.5% 81.8% 78.7% 79.0% 77.1% 78.1% 75.5% 78.9% Big Box Suburban; Traditional: . 71.3% 73.7% 74.8% 76.8% 81.9% 82.8% 78.0% 73.9% Biglox 74.3% 75.4% 78.1% 79.1% 83.8% 85.9% 85.3% 88.1% CC'Units Available I I No 80.5% 81.8% 78.7% 79.0% 77.1% 78.1% 75.5% 78.9% Suburban Yes • 68.7% 69.1% 73.4% 76.2% 79.9% 80.8% 78.8% 72.1% No 76.3% 81.1% 78.2% 78.5% 85.5% 86.6% 79.7% 82.0% ResidentManager,: I I I Urban n' l " br Yes 82.4% 84.0% 81.8% 82.9% 80.0% 82.3% 76.8% 80.8% :Ni t+ k 70.8% 71.0% 63.3% 59.7% 62.6% 56.9% 693% 69.2% y Suburban • 713% 73.9% 733% 77.1% 82.2% 83J% 79.1% 76.2 d r n Ve)ugle Yarking I I I Urban Yee "7 ' 83.8% 83.0% 823% 83.9% 81.2% 82.1% 76.3% 79.2% No.; .,: 78.8% 81.2% 76.9% 76.6% 75.0% 76.1% 75.2% 78.7% Suburbak you 77.1% 77.8% 78.6% 80.4% 85.6% 87.2% 82.0% 80.5% No '1 " 64.8% 69.0% 71.4% 73.2% 78.0% 78.2% 75.8"/ 713% , Tritcl4Renthl Urban Yes . %' F • 47 No 80.5% 81.8% 78.7% 79.0% 77.1% 78.1% 75.5% 78.9% Suburban Yes 68.5% 69.6% 72.1% 75.1% 84.6% 86.0% 80.8% 74.6% M1 N4 75.6% 79.1% 78.9% 79.4% 79.4% 80.3% 77.1% 78.0% RegtooSummary 72.9% 75.0% 75.8% 77.4% 81.5% 82.5% 78.6% 76.6% - 33- 0, ttl �p NO N ;Q Op p In I� v N w ' H H H H M • 2 S w y w H a N As z, m N V 3 N GO a a O N M P G S •n'i v p p p y 2 p p y p -. n e e' N a w H N a N a w w H a H N H a a a 3 a a N a s a ,No, a 8 N 't S S ai • • a v a w a a' w a w w s w a o O L �p 2 2 w4 w w N pp O W N p _'- Yy� y� p y p� yP Y a' 2. 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' F is E al V 7i z >4 z W J• z > _.'z L—• 71 z a. z a 1 C =G= C0 p•�rer et e.� se^v 4e d e 9 a s .2 • -35- c Centennial Self Storage SELF STORAGE ASSOCIATION MARKET SURVEY OF PLAINS REGION Total Operating Revenue 2003-2004 70,677 GROSS SF @ $ 6.06 $ 428,302.62 21% $ (89,943.55) $ 338,359.07 Operating Expense 2003-2004 Management On Site $ 56,000 $ 0.79 Management Off Site $ 9,500 $ 0.13 Marketing 18,000 $ 0.25 Insurance 6,500 $ 0.09 Utilites 25,000 $ 0.35 Repairs&Maint. 7,600 $ 0.11 Administrative&Professional Ser. 16,500 $ 0.23 Security 3,000 $ 0.04 Grounds and Snow Removal 6,000 $ 0.08 Taxes 57,000 $ 0.81 Self Storage Exp PSF $ 2.90 $ 205,100 $ 205,100.00 Net Income from Rental Real Estate $ 133,259 Capitalization Rate 9.5% 0.095 Cap Rate from Summer 2004 Integra Report Indicated Property Value $ 1,402,727 $ 1,402,727 Final Value $ 1,403,000 -36- Assessment Comparison -37- , i "eir 1 Lz,<, 7 i I ' Map"."'t� a30 88 -----1 30 a3 i m e • •• - • Beacon IndoorStora Hihway SIf Stra•- 9 3::5 Hi•hl.n• Pr., M-. • 4059 Camelot Cir., Mead / /7 I " Lee a OjEcti �ras .. ._- g7 -- x �, fir,) - • I 1 3 ..,.�: _=119 4 ,i•:x� - BNd '--24 ' 1 1 DT �� j i 16 li f rf �-- 1, `l C-nt-nnial Self St•rag- \ • % i Run E }—_ 9151 :ruin .IvdL ., Fre•rick �1el lit 111 = / Lr. iC - L _� ,. i a � i •••:••••••0•••p 62005 wVtVt�l/•r6or4e , i`I�" j,y 1.,4ISI ) +1 -38- o V in o O o 0 o N CO- N O ca q > N N M O p g N N N U- 0 0 DO CO aN- m CO m of r cc; ai w J Q > 69. to N N LL CO 0 co CO a .O N r N C J 69 69 N LL N CO N N m a A C N M v N 0 0 CD al N N N J Q 0 CO LL CO O 0 GO E 0. CO. co yyo N. C71 O 00) O J 0 O a a 10 m 0 m N N H M a e- 41 w w 0 0 10 co 1. D a 0 10 Q m O t7 0 o N N- CO 0 cei a = am at I cu J N co to co Q n 6 a N > In co m a to '-o z o g 0 N m m R co A o O` `O co N N m m O m E 0 O CO ca Z CO A _c R C0 C L m m co • C ± m O x Z N m 0 U m mm h. u. m p U co a o 0 m w m m 3 c 0 0, m CO E 3 3 0 2 0 m 0 Q 0 O C o 00 - O a CO 0 Z c O a a = a o > -39- i I J 1 Mapo ni: 7 243 _ I ��a� 30 80 ------�30). - Q I ■� h 43 I IlI Hi•hway .. S-If St•ra•- 3::5 Hi•hlan• Sr., -a• ■ 4 ,1 19 p 'oil r ea 1 I s� I t £ 1 .. ,F "07 I al 4 24 Ill fi�i t. e BNd L f 2r' 1 —1 Co-448 13 ' —za 3 119 I rr j 40 "i- i t . lone I =7 I i�i i.IJ� h '.1.��.,15 Ranh r .- r_ ii i � r . l f _l�l 1 j ` — I'I —1221- O _=__f _4 /! iJ -r 9051 Bruin Blvd, j_ 20 � ;km Frederick, � CO 80504-3446 II, I: I L i ,. ; --cC Cs, \- i/ J201 I I 1 i� In I , MS*9 ' • f�' L LL ,1r� w.4 Lhks f 117 -'-T ®2006 Caul Cap®20061YVIE•in4prGOr IN ,A i.,[-J ' -( -40- Highway 66 Self Storage 3885 Highland Dr. l` I 2`a A✓.. y�g � �1-0 Y� �t 4 d f S'ya� tar$ � L r , J f,'`• . le 9YIIn 7011+ -4 1 - : i F i�i'�� v � -ruu et]��(lJldi ai I`1 i �.�.,� �i J�la,.J17 4JJ.WyC .••..__ C r. " - <. ate'WU:. ^ r�.,, - 42- 1.4.:1/4-1 t'4 a Highway 66 Self Storage Sizes Sq. Ft. # of Units Total S F 5x10 50 48 2400 10x10 100 146 14600 10x15 150 98 14700 10x20 200 96 19200 10x25 250 20 5000 12x25 300 27 8100 12x30 360 42 15120 Totals 477 79,120 -43- Identify Results Page 1 of 7 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R1905302 Parcel#: 120727102013 Tax Area: 2100 Bordering County: Acres: 5.1785 Township Range Section Ouart. Sec. Subdivison Name Block# Lot# 03 - 68 - 27 - 1 MEAD CROSSINGS - -6 Owners Name&Address: Property Address: BEUMER PATRICIA A(21.44%) & Street: 3885 HIGHLAND DR MEAD 7740 DARVEY LN City: MEAD LONGMONT, CO 80504 Business/Complex: HIGHWAY 66 SELF STORAGE Sales Summary Sale Date Sale Price Deed Type Reception # 4/26/2006 $0 SWDN 3382858 Legal Description MEA MC L6 MEAD CROSSINGS 3885 HIGHLAND DR MEAD 000000000 Land Valuation Summary Land Type Abst Code Unit of Number of Assessed ypActual Measure Units Value Value Residential 1112 Square Feet 3500 Commercial 2135 Square Feet 222078 Land Subtotal: 225578 $507,551 $145,540 Buildings Valuation Summary Bldg# Property Type Actual Value Assessed Value 1 Commercia 10 Commercia 11 Commercia 12 Commercia 13 Commercia 14 Commercia 15 Commercia 16 Residential 2 Commercia 3 Commercia 4 Commercia 6 Commercia 8 Commercia Improvements Subtotal: CI_ $1149080 ,, $1, ,080 $315,080 Total Property Value $1,656,631 $460,620 Building Details Account#: R1905302 Parcel#: 120727102013 -44- lato://mans.merrick.corn/Website/Weld/setSgl.aso?cmd=OUERY&DET=PP&vin=120727102013... 7/12/2006 i I : � 9 I� • .� Mapint' I 7 C' _ • 1 � _ CA 66 _ 30 BEc_- --IX• t111 1 r Beacon Indoor Storage { I - � ,; " r -+ r .s 4059 Camelot Cir.. Mead O 1 , , ! .. / 1 1 87 • • _l i . I �, 2•�• ._ i ' _._.1 ,---,I.: Co-t49 r! ! ! 13 • - :, 3 i� ,_:., . ---24 — — C! 'j , ) i'Li' DY. $� -,,#! 1.- _ I f i ,i Y+i --• .fl y ,'-- T J.'�•.:r_i ): } 'a j '� i' ''7 I f E ' �1� ._.. t1 r 9051 Bruin Blvd I ` ---------- '- m '� Rim Frederick, ' ; •• ..- CO 805O4-3446 �:1 f, ; ci �, = i Missing '2 ,% Links Fireatorle o ! 1r- j i.h" i..--.rl' ..fi�gg M Syr e s r ®2006 MicIOfOR Coln O2005 NOVTEQ,�nd/erGDT,IRe. 11-1 I i ,.�.,i- J tlNiii —45— Beacon Indoor Storage 4059 Camelot Cir c": A4AS.!;i 1" _'p(/ 11 i ('{'11 1_I,Ii J ' 1JI ii • -46- Beacon Indoor Ston ge Sizes Sq. Ft. # of U 'ts Total S F 10x20 200 10 2,000 12x30 360 21 7,560 15x30 450 60 27,000 15x40 600 22 13,200 15x50 750 7 5,250 Totals 121 55,010 Identify Results Page 1 of 3 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R7053698 Parcel#: 120723203006 4194 61.BPAta-44 SWIGS n:zl.!4:.T:.1na^,•••a.n+.a•.4 w.01,6lc:ax Gaa9LINXIM IRS2[ �asaan Tax Area:2309 Bordering County: Acres:4.673 Township Range Section Ouart.Sec. Subdivison Name Block#Lot# 03 -68-23 - 2 RADEMACHER BUS PARK PUD AMD - 2 - 6 1+u.:.>sus.naila suvar ASUISSLISOMAoea uttaarm�asMraese w Owners Name&Address: Property Address: BEACON STORAGE LLC Street: 4059 CAMELOT CIR MEAD 124 N COUNTY RD 21 City: MEAD BERTHOUD, CO 80513 Business/Complex: Sales Summary Sale Date Sale Price Deed Type Reception# 9/24/2002 $305,400 WD 2990520 Legal Description RAD L6 BLK2 RADEMACHER BUSINESS PARK PUD AMD PLAT SITUS: 4059 CAMELOT CIR MEAD 805040000 Land Valuation Summary Land Type Abst Code Unit of Number of Actual Value Assessed Measure Units Value Commercial 2135 Square Feet 203555.9063 Land Subtotal: 203555.9063 $396,934 $115,110 Buildings Valuation Summary Bldg# Property Type Actual Value Assessed Value 1 Commercial 2 Commercial 3 Commercial 4 Commercial Improvements Subtotal: � " $720,000 !� / $208,800 jr Total Property Value $1,116,934 tt�� $323,910 n !'•L k Building Details Account#: R7053698 Parcel#: 120723203006 Owners Name&Address: Property Address: BEACON STORAGE LLC Street: 4059 CAMELOT CIR MEAD 124 N COUNTY RD 21 City: MEAD BERTHOUD, CO 80513 Building# Property Type 1 Commercial Individual Built As Detail - 48- http://maps2.merrick.com/Website/WeldlsetSgl.asp?cmd=QUERY&DET=PP&pin=12072... 7/27/2006 t I Npn. " Mead: Map oinr 7 243 _ rti t Cn Rfi i _ X 30 t 8'/ " '- I {30 �! I 9 243 tr 11 s I -t-_ 5 + ''Y6` .. I ' 1 I 2 261 ri Az I ij� _./. , .. J Li. 24': t5 — 9 i �- b' . I I - s 2' i-, 'r- -1 Co-t48 • 13 ,u 3 n -: .m 11A 1 . :y. & d �� —24 __ f;W t 18i t� one • Ranch x ___. f a _ 1111 Pitrk ' i i. 4 • II 7 C-nt-nni.l S-If Stara —{2DE— '! Ponn , `_.� • X51 :ruin :Ivd., Fr-drick ,1 �_3�i `,�l - i — L 6 r ? t }S Fire- stone 1 e ®2006 1160501C"®2005MOY Q Mfr8DT IM. , f- 1r§ :"f r4 1 -49- Beacon Indoor Storage 4059 Camelot Cir Paz• r (sk 4 t - • ., - -. Srrw' , Y l/ - ' pry. 50- 55 �Y fvNf tF Ti r!* i4i ' . ci,r u s 1' r Illy i I lI u ,..„..-to , . - s mss,. , k. . aM jp. 4Nih Wi M1i Centennial S Storage Sizes Sq. Ft. elf# of Units Total S F 15x30 25 9 225 15x40 50 55 2,750 15x50 75 19 1,425 15x70 100 138 13,800 10x15 150 76 11,400 10x20 200 83 16,600 10x25 250 28 7,000 10x30 300 39 11,700 15x25 375 1 375 Totals 448 65,275 - 51 - Identify Results Page 1 of 5 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R7992999 Parcel#: 131314002003 Tax Area: 1459 Bordering County: Acres: 4.54 Township Range Section Quart. Sec. Subdivison Name Biock# Lot# 02 - 68 - 14 - 0 BEAR INDUSTRIAL PARK - 1 - 3 Owners Name &Address: Property Address: CENTENNIAL SELF STORAGE LLC Street: 9051 BRUIN BLVD FREDERICK 9051 BRUIN BLVD City: FREDERICK FREDERICK, CO 80504 Business/Complex: CENTENNIAL SELF STORAGE Sales Summary Sale Date Sale Price Deed Type Reception # 2/25/2005 $0 WDN 3264610 Legal Description FRE BIP L3 BLK1 BEAR INDUSTRIAL PARK 9051 BRUIN BLVD FREDERICK 805043446 Land Valuation Summary Land T e Abst Code Unit of Number of Assessed yP Measure Units Actual Value Value Industrial 2130 Square Feet 197762.4 Land Subtotal: 197762.4 $569,555 $163,600 Buildings Valuation Summary Bldg# Property Type Actual Value Assessed Value 1 Commercial 2 Commercial 3 Commercial 4 Commercial 5 Commercial 6 Commercial 7 Commercial 8 Commercial Improvements Subtotal: 7 f r $1,674,998 $457,470 Total Property Value $2,244,553 $621,070 Building Details Account#: R7992999 Parcel#: 131314002003 Owners Name&Address: Property Address: CENTENNIAL SELF STORAGE LLC Street:9051 BRUIN BLVD FREDERICK 9051 BRUIN BLVD City: FREDERICK FREDERICK, CO 80504 Building# Property Type - 5 2- 1.,i-r,.,./I.- - 1 T,.11/ 4-( 1 ) A—l',TrT'r p n • , ,,n, ..,. . .. Appendix - 53- INTEGRA Realty Resources DENVER Local Expertise...Nationally SUMMER 2004 REAL ESTATE INVESTMENT SURVEY WEST/CENTRAL UNITED STATES Integra Realty Resources-Denver is pleased to present typically elapsed between the time the property was listed the results of our Summer 2004 Survey.Provided is a and the time it was placed under contract, assuming the sun-unary of the respondents' perceptions of the real property was reasonably priced. The estimated marketing estate market in the West/Central United States including time shortened with 70%of the respondents indicating up the States of Colorado,Wyoming, Texas,Utah, and New to six months. The second question pertained to the time Mexico. between contract and actual closing. The range was typically one to six months.Closing times were somewhat Through our questionnaire, we investigated several select longer,with 45%of the respondents indicating up to three indices used by the real estate community in the months and 95%up to six months. acquisition,disposition, or financing of income producing properties. SALES/CLOSING COSTS ANALYSIS METHODS We also asked the respondents to estimate on a percentage basis the total closing costs for a seller of real We asked what type of valuation technique they most estate including brokerage commissions, legal/title work heavily relied upon. Capitalized Income or Direct and other closing costs. The averages are summarized as Capitalization remained the predominant method followed follows: by the Market Approach and the Discounted Cash Flow Technique. Of the respondents, 56% indicated that they Improved rarely use the Cost Approach. Vacant Commercial Sale Price Land Properties Primary Secondary Rarely Up to$1.0 Million 8% 7% Cost Approach -0- 44% 56% $1.0 To$2.499 Million 7% 6% Direct Sales/ Approach 35% 46% 19% Market $2.5 To$4.999 Million 6% 5% Capitalized 84% 12% 4% $5.0 To$9.999 Million 4% 5% Income Discounted $10.0 Million&Over 3% 3% Cash Flow 36% 20% 44% We look forward to continuing the survey with a In Discounted Cash Flow (DCF) analyses, the holding Winter 2004/2005 issue. We welcome any comments or period ranged from 5 to 10 years, nearly equally divided suggestions you may have on how we may improve between 5 and 10 years. In some cases, we have seen a future issues to better meet the needs of those in the real further drop in capitalization rates from our Winter 2003/ estate industry. We sincerely thank those fins and 2004 Survey. individuals who participated in this Investment Survey. Let us know if your firm would like to be a respondent to future surveys. 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