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Home My WebLink About20001816.tiff RESOLUTION RE:: THE BOARD OF EQUALIZATION, 2000, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE PETITION OF: NORTH WELD PRODUCE CO PO BOX 399 GREELEY, CO 80632 DESCRIPTION OF PROPERTY: ACCOUNT #: R1280697 PARCEL #: 096105212003 - GR 4253 L7 & S2 L6 BLK4 1ST CLAYTON & E2 OF VAC ALY ADJ TO S2 L6 &ALL BLK5 & N2 VAC 2ND ST BETWEEN BLKS 1 & 5 1ST CLAYTON & L1-2-12 BLK1 CLAYTON 1ST & VAC ALLEY BETWEEN 1-2-12 & S2 VAC 2ND ST BETWEEN BLKS 1 & 5 %123 9 AVE% SUB:CLAYTONS 1ST SUB BLK:5 SITUS: 123 9 AV GREELEY 80631 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 2000, 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 2000, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner being represented by Dennis Hoshiko, 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 Weld County Board of Equalization, that the evidence presented at the hearing clearly supported the value placed upon the Petitioner's property, after review by the Weld County Assessor. Such evidence indicated the value was reasonable, equitable, ano derived according to the methodologies, percentages, figures and formulas dictated to the Weld County Assessor by law. The assessment and valuation of the Weld County Assessor shall he, and hereby is, affirmed as follows: 2000-1816 AS0046 Ec' . 'Orr; .4s x RE: BOE - NORTH WELD PRODUCE CO Page 2 ACTUAL VALUE AS DETERMINED BY ASSESSOR Land $ 138,960 Improvements OR Personal Property 492,320 TOTAL ACTUAL VALUE $ 631,280 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 30 days of the denial: 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), CRS) Appeals to the BAA must be made on forms furnished by the BAA, and should be mailed or delivered within thirty (30) days of denial by the CBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 523 Denver, CO 80203 Phone: 866-5880 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), CRS) 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, CRS) 2000-1816 AS0046 RE: BOE - NORTH WELD PRODUCE CO Page 3 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. 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., 2000. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO 5 44t EXCUSED �� v7V Barber, Chair rk to the Boardt4Lm (Q r/ et rk to the Board —_- ®� orge . Baxter D AS TO FORM: I — Ytccw UaTe K. Hall J' ( �k --- istant�unty Attorney Glenn Vaad 2000-1816 AS0046 NOTICE OF DENIAL OFFICE OF COON IV ASSESSOR h � � GE 4253 L7 & 32 L6 BLK4 1ST 1401'NOIt7H EII Y,CO 80631 CLAYTON & E2 OF VAC ALY ADJ TO S2 GR3-345,EXT3650 L6 & ALL BLE5 & N2 VAC 2ND ST PHONE(970>953-3845,EXT. 3650 T CLAYTON & W IV L1-2-ALLEYI2 BLK1 BETWEENC1-2-1N 2S&ST S2&VACC2ND COLORADO OWNER: NORTH WELD PRODUCE CO NORTH WELD PRODUCE CO LOG 1038 PO BOX 399 PARCEL 096105212003 ACCOUNT R1280697 GREELEY, CO 80632 YEAR 2000 06/06/2000 The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor ha:det:mined I hat your property should be included in the following category(ies): COMMERCIAL PROPERTY IS VALUED BY CONSIDERING THE COST, MARKET, AND INCOME 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 deia'fined the valuation(s)assigned to your property. The reasons for this determination of value are: NO CHANGE HAS BEEN MADE TO THE VALUATION OF THIS PROPERTY. COLORADO LAW REQUIRES US TO SEND THIS NOTICE OF DENIAL FOR ALL PROPERTIES ON WHICH WE DO NOT ADJUST THE VALUE. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW LAND 138960 108960 IMPS 492320 412320 TOTALS $ $ 631280 $ 631231) If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further considera riot),39-8- I06(I)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal. 06/06/2000 By: Stanley F. Sessions WELD COUNTY ASSESSOR DATE 5-OPT-AR Form PR-207-87/90 ADDITIONAL INFORMATION ON REVERSE SIDE Cc ' % sr 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. APPEAL PROCEDURES: If you choose to appeal the Assessor's decision, you must appeal to the County Board of Equalization To preserve your right to appeal, your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY 15 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 NOTIFICATION OF HEARING: You will be notified of the time and place set for the hearing of your appeal. COUNTY BOARD OF EQUALIZATION'S DETERMINATION: 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 their hearings by August 5. TAXPAYER RIGHTS FOR FURTHER APPEALS: If you are not satisfied with the County Board of Equalization's decision you must file within thirty days if 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. 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 10. TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TAMELY 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, C.R.S., YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLL.IR AMOUNT. Attach additional documents as necessary. AO4 INe:/J?redece 6. 4 ( fesl 74t/it_ SIUNA I UKE OF YE I I I IUNEK / 112( VA I Weld County STANLEY F. SESSIONS COUNTY ASSESSOR MICHAEL SAMPSON, CHIEF APPRAISER RESTRICTED APPRAISAL REPORT OF COMMERCIAL PROPERTY FOR County Board of Equalization NORTH WELD PRODUCE CO PETITIONER vs. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0961-05-2-12-003 Schedule Number: R1280697 Log Number: 1038 Date: 08/01/00 Time: 2:30 P M Board: CBOE PREPARED BY n {� .n�DAVID SCHILDMEIER (Q am,- K � D!.w�ulu� . i ltt: ignature Date Signature Date ASSESSOR'S OFFICE STAFF APPRAISER CBOE_COMM_010998 Page 1 6i SUMMARY OF SALIENT FACTS AND CONCLUSIONS Purpose of the Appraisal : Estimate market value June 30, 199E Property Rights Appraised: Unencumbered fee simple interest: . Property Address : 123 9 Av, Greeley, Colorado Improvement : Storage-Potato Warehouse Land size: 277 , 913 square feet Zoning: I-L Industrial Low Intensity Assessor' s Value: 2000 Land Value: 138, 956 Imps Value : 492 , 318 Total Value: 631,274 Highest and Best Use : Present use as a storage-potato Size of Improvements : Bldg 1 YOC 1908/81 37 , 844 square feet Bldg 2 YOC 1984 47 , 898 square feet Bldg 3 YOC 1984 4, 992 Square feet Bldg 4 YOC 1960 10, 000 square feet Total 100, 734 square feet Effective Age: 23 years Remaining Economic Life: 17 years Estimated Land Value: $138, 956 Estimate of Value: Cost Approach Land Value : 138 , 956 Improvement Value: 871 , 759 Total Value: 1, 010, 715 Sales Comparison Approach: $634, 600 Income Approach: $631, 280 Final Estimate of Value: $631,280 Date of Value: June 30, 1998 2 SUBJECT PHOTO BLDG 1 •• ..r s 4 SUBJECT PHOTO BLDG 2 • I: Ili; tF I BOE_C OM M_0 10998 Page 3 .a((Q 1 14- SUBJECT PHOTO BLDG 3 .00.4',9141*0 1" 04 iite,.44100101000.ado., . �, a 1 t. 7 '+Mae » ear !I I I �� 1 f❑ lil nNfleli Fii 1 ii !'7{{)fif{tItrfl{"Pi11.1 Yi GaU!1�«�.�- �IC�tN irflrri�rrrr�rr+ti��lr, 3{,r ,r{ ,. `r : 1 I� fifi f N..- SUBJECT PHOTO BLDG 4 } ,- C BOE_CCMM_O 10998 Page 4 •r" ' 4 l • _,.., H6 coI / ii_ ' j �<r I + r . ,-,mirr,,, L., , t "Th /s+ 5 TREE - _; s C kr p : " (5,:� c Z; �a.......� .....�� :' ee C Phan' ...`'.....w gIN s. --- 005, OE., R i aw, ri I ,i / fr I O 4Qt� • a Cu 1�U07�a / 0 • _ - _ _ 1 'm t, _ _ d G' I.' / ° ;‘' �, o/Q i @b ad � bo7 • } �. . 00a - R y_ ff _� 1 • l7 009 I , '3 . QO.FIx,,, "..�1 tt 03 - ice it 006 ` i �-� qej . I 0a":•is, l' ,,yf TREET � ,:3I 1 I I: • A£.c .� •-*-,,..,-„,a-,'-tism_ is 1111 "712 * 9 re I.y�yi I A '11• �1�IAJ ✓ .e.r . Iq-.' i 'P lil y/ a+.fir T , Ill 1 j77 ' O .• �c X-,,; ` Alj l ^ / r 1 �1- 11 i � i�111_ • . 9 ' 1 `; I- III Atli nr .. hrt q - % , _ r L ly Ry [�f f >Y. 111 ,ry /f T. r �l �v I O d ' I} '3�M1i i � �1 'Int. ♦ fY / rt SITE ANALYSIS Location: The site is an improved parcel of land locat'-3d southwest of the corner of Ninth Avenue and First Street. in Greeley. Ninth Avenue is one of the secondary north/sout.h boulevards . Both streets have asphalt paving and curbs . Ninth Avenue has sidewalks and overhead street lighting. Five land sales of similar size with both industrial and commercin, zoning were found in Greeley. I have made adjustments for differenw attributes to the land sale comparables found on page 5 . Size : The subject site is irregular in shape with an area D1' 277 , 913 square feet or 6 . 38 acres . Zoning: The zoning is I-L Industrial Low Intensity. Existing Improvements : The site has sanitary/storm sewer and watFnr supplied by the City of Greeley. Telephone is provided by QwesL, . natural gas is supplied by Greeley Gas, and electrical service provided by Public Service. Topography: The site is at sidewalk level and shows no problems with drainage. 6 L/ IMPROVEMENT ANALYSIS The subject improvements consist of four buildings which are used to process,bag, and store onions . The first section of building one is a masonry two-story with a basement originally built in 190.`3 . This building was added to in 1981 and 1982 . The second sectiri built in 1981 is 11, 440 square feet . This single story is built ,is a metal frame/metal skin. The last section, also a steel frame structure, contains 9 , 184 square feet . The building measures roughly 84 by 470 with a wall height of 28 feet for the two-stoct containing 17, 220 square feet as well as the basement . Try remainder of the building is one story having a wall height of LIi feet and contains 37, 844 square feet. This structure has a cover ?d dock and a 20 ton truck scale on the south side. On the north side are two small passageways to the adjoining building. HVAC .!1 this structure are ventilation fans and space heat to keep tle produce from freezing. The building square footage in the basement of 17 , 220 sf and tae second floor of 17 , 220 sf is not contained in the subject area to avoid dealing with the functional obsolesence. This area is n)t used in most seasons due to the additional man-hours needed to storage product in these areas . Building two, constructed in 1934, 1970, and 1981 is a combinatini masonry walls for the sections built in 1934 and metal frame structure with metal panels for the later construction. Thu; building containing 47 , 898 square feet has various wall heights which average 12 feet . The building is equipped with ventilation fans . The third building measuring 48 by 104 containing 4, 992 square fey _ was constructed in 1978 . The wall height is 16 feet . This building is a metal frame storage warehouse with metal exterior panels . Building four built in 1949 which measures 50 by 200 or 1C , 020 scuare feet is also used to store produce. The walls average L5 feet high. The rear section of 5, 450 square feet is built 5 fee: below grade to conserve heating and cooling costs . The front section of 4 , 550 ssquare feet was built at grade level and has ? ) foot high walls . The lot has about 113 , 000 square feet of asphalt paving. The 1 ): is enclosed with a five foot woven wire fence with barbs top and bottom. Condition: The quality of construction is average to abo/e average and because of a good maintenance program remain ; in average/good condition. All of the components are functioning and nc functional obsolescence was observed. 7 C SKETCH/AREA TABLE ADDENDUM Case No R1280597 File No 096105212003 F'roaerty Address 123 9 AV City GREELEY County WELD State 0 Zip 80631- Etorrower NORTH WELD PRODUCE CO rn Lender/Client Appraiser Name - Bldg 1 DOGHOUSE DOGHOUSE N17.0' 30.0 I. 0 34.0' 28.0' 193.0' -- --- - 72.0' 8.0' WH 16' r4.0' 205.0' y WH 16' YOC 1981 WH 28' YOC'C 1982 0 CLASS S 0 YOC 1908 2/B CLASS S 84.0' 80.0' 72.0' 9184.0 SF 11440.0 SF CLASS C 17220.0 SF 143.0' _ ----- - — 470.0' 2a First Floor 37844.0 SF .o' 10.0' _ 35.( Second Floor 17220.0 SF Covered Dock 17.0 20 T SC aI E 476.0 SF Si at= 1=70 I AREA CALCULATIONS SUMMARY BUILDING AREA BREAKDOWN ' Code Description Factor Size Perimeter Totals Breakdown Subtotals GRA1 First Floor 1.00 37844.00 110870T 37844.00 First Floor GBA2 Second Floor 1.00 17220.00 578.0 17220.00 80.0 x 398.0 31840.00 I ' 4.0 x 205.0 820.00 72.0 x 72.0 5184.00 Second Floor • 84.0 x 205.0 17220.00 r C ' I U I • Q U a I I TOTAL BUILDING (rounded) 55064 4 Areas Total (rounded) 55064 7A APEX SOFTWARE 800959.9958 SKETCH/AREA TABLE ADDENDUM Case No R1280697 File No 096105212003 Property Address 123 9 AV City GREELEY County WELD State 0 Zip 80631- Borrower NORTH WELD PRODUCE CO Lender/Client _ Appraiser Name - 201.0' WH 12' Bldg 2 Q° YOC 1970 1 x U 98.0' © 98.)' DOGHOUSE F '0 „ a� • 230.0' °3 • WH 13' 24.0' WH 10' WH 16' WH 2O' YOC 1981 YOC 1934 YOC 1970 YOC 1934 60.0' `Ql 2/B 1/B 63 0' 4800.0 SF 10980.0 SF 6900.0 SF 5520.0 5•F 80.0' --- ---- 183.0'- — 115.0' 92.0' 470.0' First Floor 47898.0 SF Second Floor 1440.0 SF .x-le. 1 =70 AREA CALCULATIONS SUMMARY BUILDING AREA BREAKDOWN Code Description Factor Size Perimeter Totals Breakdown Subtotals ' GBA1 First Floor 1.00 47898.00 1256.01. 47898.00 First Floor Dsa2 Second Floor 1.00 1440.00 168.0 1440.00 98.0 x 201.0 19693.00 60.0 x 470.0 28200.00 • Second Floor y 24.0 x 60.0 1413.00 • J J 1 Q U 1 a w a TOTAL BUILDING (rounded) 1 49338 3 Areas Total (rounded) 49338 7B — — — — �� APEXSOFT WANE 900-B5tl 9958 SKETCH/AREA TABLE ADDENDUM Case No R1280697 File No 096105212003 F'rooerty Address 123 9 AV City GREELEY County WELD State 0 Zip 80631- Borrower NORTH WELD PRODUCE CO Lender/Client Appraiser Name - Bldg 3 at 104.0' WH 16' YOC 1978 Y = O ' 48.0' w X 5 r0 S First Floor 4992.0 SF S a'.e. 1 30 AREA CALCULATIONS SUMMARY BUILDING AREA BREAKDOWN Code Description Factor Size Perimeter Totals Breakdown Subtotals GnA1 First Floor 1.00 4992.00 304.0 4992.00 First Floor 48.0 x 104.0 , 4992.00 N z 3 J 7 U J Q U I,i TOTAL BUILDING (rounded) 4992 L 1 Area Total (rounded) 4992 7C —_Q—, -- �g— APEX SOFTWARE R00 858 9958 Pµ �.._rl SKETCH/AREA TABLE ADDENDUM Case No R1280697 File No 096105212003 Property Address 123 9 AV City GREELEY County WELD State 0 Zip 80631-. Borrower NORTH WELD PRODUCE CO Lender/Client Appraiser Name - Bldg 4 2 A 200.0' w y WH 10' WH 20' COe J:ED DPI.rr N COVERED DRIVE 15.0' 28.0' 364.0 SF w 210.0 SF 14.0' 5450.0 SF 50.0' 4550.0 SF 50.0' 1 1 3.0' 7.01 118.0' 91.0' Doer 126 First Floor 10000.0 SF S :a e 1 40 AREA CALCULATIONS SUMMARY BUILDING AREA BREAKDOWN Code Description Factor Size Perimeter Totals Breakdown Subtotals GBA1 First Floor 1.00 10000.00 500.0 10000.00 First Floor 50.0 x 200.0 10000.00 • • Z F Q o I Q I U Q w Q ' TOTAL BUILDING (rounded) 10000 1 Area Total (rounded) 10000 7D APEX SOFTWARE B00-85a-9955 1 ^^ LAND SALES SUMMARY SHEET Sale Date of Contrib. Area Price/ No. Grantor/ Grantee Sale Sales In SF SF Land Zoning Price Subject North Weld Produce 123 9 Av - - 277 ,913 Ind Greeley, Co I-L 1 Weld Co/ Startek 1250 H St 12/97 $261 ,360 348,349 $C . 7` PUD Greeley. Co 2 Branch Lloyd/Burgener Brothers 08/97 $159,500 103 .534 $1 .5' Ind 130 22St I Greeley, Co 3 Franklin Howard/Cecil Farms 06/98 $50,000 43 ,560 $1 . 1: Cos 2015 2 Av I -N Greeley, Co 4 Majors Dale/Walter R Hitchcock Ben 04/95 $42 ,000 100,331 $( .4: Ind 102 30 St 1 -M Greeley, Co 5 H & S 08/95 $203 ,700 203 ,700 $1 . 0( Ind Distributing/Brewer I -N Steel 209 30 St Greeley, Co 8 / 5- LAND VALUATION ANALYSIS $ubiect Site Subject is 277 , 913 square foot irregular shape, level, industrial low- intensity zoning, corner lot located on Ninth Avenue. Parcel has good accessibility. Comp 1 A larger lot located on H Street 8 blocks north of the subject . ThiE comparable has similiar attributes to the subject property. The zoning on the parcel is PUD; its use is a office building in an industrial park. If the subject were contructed today it would probably be located in such an industrial park to conform with other similiar uses . This sale would need no adjustments . Comp 2 A smaller corner lot located on Highway 85 bypass . This comparable is superior in location compared to the subject . This sale would need an downward adjustment. Comp 3 A smaller lot located in Schneider Industrial Park. The access and visibility is similar to the subject property. Due to the smaller size it will need a downward ajdustment . Comp 4 A slightly inferior lot located in Schneider Industrial Park. The visibility and access is inferior which requires a upward adjustment . Comp 5 A slightly smaller site 38 blocks south of the subject property w__th superior location to the subject . This sale would need a downward adjustment due to location. The subject site is a 277 , 913 square foot irregular, level, corner lot zoned I-L, with good accessibility. The comparable land sales range from $0 . 42 psf to $1 . 54 . The best comparable number 1 which needs no adjustments is very similiar to the subject in location. Although this site is larger in area, the lack of vacant lots for sale withir this area would preclude any adjustment for size . Therefore the valve per square foot should be $0 . 75 per square foot. As a result of the land sales study a value of $0 . 75 per square foot or $138 , 956, based on sale comparable 1, has been applied to this property. 9 // ? PIN: 1280697 COMPARATIVE SALES APPROACH NAME: NORTH WELD PRODUCE CO 123 9 AV GREELEY 7071000042 96109200004 156906300033 96116:1000100 COMP SALE NUMBER SUBJECT 1 2 3 4 ADDRESS 128 11 AV 15415 HWY 14 421 E 16 ST 221 KUNER RD 155E 27 ST GREELEY AULT GREELEY BRIGHTON GREELEY USE STOR/ONION STOR/ONION WHSE WHSE WHSE SALE DATE 04/09/98 08/18/97 10/30/98 08/04/97 SALE PRICE 165,812 300,000 1,365,000 1,575,000 ADJ. SALE PRICE 165,812 265,000 1,365,000 1 570,000 LAND VALUE 138,956 19,327 25,000 102,930 '57,776 BLDG. VALUE 146A85 240,000 1,262,070 1.512,224 SIZE SF 100,734 1Q315 35,490 124,391 57,776 BLDG PRICE/SQ. FT. 14.20 6.76 10.15 26.17 YEAR BUILT 1908/84 1976 1965 1903 1976 EFFECTIVE YEAR 1975 1983 1970 1970 1980 ADJUSTMENTS: BLDG.SIZE@12.00 1085028 782928 260227 472538 BUILDING AGE 12000 63100 -151200 BLDG CONDITION -14650 -605000 NET ADJ TO ADJ SALE PRICE 1070378 794928 -197127 -283662 ADD BLDG VALUE 146485 240000 1262070 1512224 NET ADJ TO SALE PRICE 1216863 1034928 1064943 1228562 ADD SUBJECT LAND _ 138956 138956 138956 138956 INDICATED VALUE 1355819 1173884 1203899 1367518 INDICATED VALUE PSF - 13.46 11.65 11.95 - 13.58 INDICATED MARKET VALUE 100,734 X$6.30=634,600 NWELD1.WK4 10 nR pP1e 110 ovei II o _ iL �_• _, - c COMPARABLE SALES MAP - - \ Nunn %' co, ' o 4 o Boe dlli r , eyers C SALE #1 o 287 Kenyon i orner N\ •jeC_- P.urcell ' is a Be vue O iddings Fierce Larer\ % \Sta e � ‘ • Co £ , 9 •r ect rk t Coll n5 .Ault o -Pk o to ■ ;a• ,, . 14 . osstun Un ersity � o• ° ' 48!9htSE 4 s SUBJECT PROPERTY o .W Ii pgg N Severance Keris ss2 L Cerne o hews amesvlle■�� 392 .-,• -- Red andcti L indsor Aid O Gill v armers per' 54 C� d Broadvie Park* ^ el y 263 -IP Cr -OVeland 34 Gove Gle ere "arc. [ nrise Park 37 eek o Officer 3a `� anS 4�Sey Ilowell CornlrO- aoz o and an GN/Zor 3a • Kuner �n� ;ampion a •Ile Duch ardin fie\, lye i X60} i • ; 7�_ L2s73 o dna �rha ��4 Weltyo 25 Milli e 60 ••m at#4 t r pitch ,1S�e )Car!ton 7 - thoud Mas s6 oLtt'I° f ompson Grange O D. 256 v -lea 'eld 267 I • ' I O Bunyan Walker Ele+atoro• Wildcat /Gilerest �o '- O 85 �5 "? f Highland ead v°a Z • n �` o orey •• I ? Platteville s6 q 1 'r ■ 66 ��Old Ft Vasqu ) h • Lost ek 7• Vrain Creek O ' ours Longmont M., re __ I '03 ett ■�" lone NORLn TH arr)pa ll 4 Jessum 25 1is] O SALE #3 Gran 9- n 7 o i -stone l '•.o ■' Krauss ° ot Idaho Creak • c • , �� O �Sou1h Roggen• IV sz lumbs ■, • Fr= .erick Ft Lupton ct Johnson0 at `- • Prospect Valley 287 •� rita s2 Li c 52 Sheehan �1Qe I-igoett Erie 32 �� O . o 17s)Q K 0 ua • ■ Dick • attenberg v . .Sloan Mule Creek 7i 4L Nine ile Corn: Adenao m 65 7• / Bpz Elder Creek �Lt¢ re Conurnche Creek ■1, fps >Comanche L-O‘ iSVllle 7 •(71 Green Valley Grange Hall I B B Par I / s,) LBarr Lake Su•erior 22 36 L__ r 128 121 • ■ • ■ ^ ingst.n "ark. Living Sprin e Villag • , • �• H e i ir1 44 Ada,tns 287A EN �a x)98 Deli) .. Str:.� ub- �i �� r � i / g COMPARABLE SALE 795 s PIN#, 6765786 PARCEL #: 070710000042 PRIMARY OCCUPANCY: STOR POTATO OFFICE: 3.00% 2ND OCCUPANCY: ADDRESS: 15415 HWY 14 AULT PROJECT: SALE DATE: 04/09/98 BOOK #: SALE PRICE: $165,812 RECEPTION #: 2605701 ADJ SALE PRICE: GRANTOR: TATEYAMA HAROLD & SONS GRANTEE: HEINZE STANLEY & FABRIZIUS L YEAR BLT: 1976 ZONING EFFECTIVE AGE: 1983 LAND/BLDG RATIO: 6.55 BLDG SIZE: 10,315 IMPS PRICE/PSF: $14.20 CLASS: S SALE PRICE/PSF: $16.07 CONSTRUCTION-QUAL: AVG CASH DOWN: $110,000 WALL HEIGHT: 16 LOAN: NEW STORIES: 1 INTEREST RATE: BSMT SIZE: LOAN TERM (YRS): 15 YRS LAND SIZE: 67,518 POINTS PAID: LAND VALUE: 19,327 REMARKS: STORAGE 10,000# 100 CWT, OFFICE 315 SF SCALE 20 T. BLDG IS IN AVG CONDITION 12 COMPARABLE SALE 589 21"y d x': PIN#, 3331186 PARCEL #: 096109200004 PRIMARY OCCUPANCY: STOR WHSE OFFICE: 2ND OCCUPANCY: ADDRESS: 421 E 16 ST GREELEY PROJECT": SALE DATE: 08/18/97 BOOK #: 1622 SALE PRICE: $300,000 RECEPTION #: 2564562 ADJ SALE PRICE: $265,000 GRANTOR: DEBRUYN ROBERT D GRANTEE: GRAIN G W YEAR BLT: 1965 EFFECTIVE AGE: 1970 LAND/BLDG RATIO: 6.14 BLDG SIZE: 35,490 IMPS PRICE/PSF: $6.76 CLASS: S SALE PRICE/PSF: $7.47 CONSTRUCTION-QUAL: LOW CASH DOWN: TRADE WALL HEIGHT: 20 LOAN: STORIES: 1 INTEREST RATE: BSMT SIZE: LOAN TERM (YRS): LAND SIZE: 217,800 POINTS PAID: LAND VALUE: 25,000 REMARKS: THE SALE INVOLVED A TRADE OF A SIMILAR VALUED PROPERTY UNDER THE IRS CODE 1031 TAX EXCHANGE. THE GRANTEE PLANS TO LIST THE SUBJECT FOR LEASE (NOT OWNER OCCUPIED). THE SUBJECT STORAGE WAREHOUSE SALE PRICE WAS ADJUSTED DOWNWARD $35,000 FOR THE ALLOCATED /AL1 OF A SFD ON THE PARCEL. 13 COMPARABLE SALE C 1054 f • R ® ® _ PIN#, 0 PARCEL #: 156906300033 PRIMARY OCCUPANCY: WHSE/STOR OFFICE: 2ND OCCUPANCY: ADDRESS: 221 KUNER RD BRIGHTON PROJECT: SALE DATE: 10/30/98 BOOK #: SALE PRICE: $1,365,000 RECEPTION #: ADJ SALE PRICE: GRANTOR: COLORADO INTERNATIONAL GRANTEE: 221 BRIGHTON LLC YEAR BLT: 1903 LAND VALUE: 102,930 EFFECTIVE AGE: 1975 ZONING 1-2 BLDG SIZE: 124,391 LAND/BLDG RATIO: 1.65 CLASS: D IMPS PRICE/PSF: $10.15 CONSTRUCTION-QUAL: AVG SALE PRICE/PSF: $10.97 WALL HEIGHT: 22 CASH DOWN: STORIES: 1 LOAN: BSMT SNZE: INTEREST RATE: BSMT FINISH: LOAN TERM (YRS): LAND SIZE: 205,865 POINTS PAID: REMARKS: AVERAGE/LOW QUALITY USED AS STORAGE WHSE 14 COMPARABLE SALE 512 • -044 :�,N q 5 �f. j -0 Ji A ' t . II II • II • u •. J ?w: PIN#, 3460586 PARCEL #: 096116300100 PRIMARY OCCUPANCY: DIST. WHSE OFFICE: 2ND OCCUPANCY: ADDRESS: 155 E. 27TH ST GREELEY PROJECT: BOOK #: 778 SALE DATE: 08/04/97 RECEPTION #: 1700298 SALE PRICE: $1,575,000 ADJ SALE PRICE: $1,570,000 GRANTOR: MCDOY DISTRIBUTION GRANTEE: WELD COUNTY SCHOOL DISTRICT YEAR BLT: 1976 EFFECTIVE AGE: 1980 LAND/BLDG RATI 4.76 BLDG SIZE: 57,776 IMPS PRICE/PSF: $23.60 CLASS: C SALE PRICE/PSF: $27.17 CONSTRUCTION-QUAL: AVG CASH DOWN: $1,570,000 WALL HEIGHT: 20 LOAN: STORIES: 1 INTEREST RATE: BSMT SIZE: LOAN TERM (YRS) LAND SIZE: 275,299 POINTS PAID: LAND VALUE: 206,474 REMARKS: THE SUBJECT PROPERTY IS CURRENTLY A COLD STORAGE DIST. WHSE. IT WAS PURCHASED WITH THE INTENT TO CONVERT THE SUBJECT INTO A BUS GARAGE FOR THE SCHOOL DISTRICT. 15 07/26/2000 PROFORMA INCOME WORKSHEET Parcel : 0961-05-2-12-003 Name: North Weld Produce Co Prop Address: 123 9 Av Greeley Bldg sq ft Use No of Units 100,734 whse stor 4 Effective Tax rate mill rate assm't rate tax rate 0.091113 0.29 0.026423 Annual Annual Fractional rent units rent/month size/bay rent rent psf owners lease 0 100,734 0 0.00 Avg rent psf Subject Rents Annual Annual gross Area rent psf Income 1 flr rate psf 100,734 2.00 201468 Less vacancy & expenses vacancy 10% 20,147 expenses 20% 4.0.2_9A Net income 1 .40 141,028 Net Income/overall cap rate=Property value Property Value value per sq ft Cap rate + eff tax rate 0.085 0.0264 0.111 1,265,698 12.56 0.095 0.0264 0.121 1 ,161,459 11 .53 Total property value _ 631,280 6.27 Gross Net Comparable Bldg Year income income rentals Use Address size const'd per sq ft per sc.Lft Comer ind pk whse 625 3 st 67,440 1977 $3.21 $2.25 H & S Distrib whse 2123 2 av 28,785 1974 $2.92 $2.37 Norfolk iron whse 431 5 st 48,536 1960 $1.85 $1 .58 Knight irc ind mfg 701 Cherry av 28,020 1995 $3.17 $2.60 N_WELD1.WK4 16 • ‘&1\(1\ CLERK TO THE BOARD PHONE (970) 356A000 EXT 4217 FAX: (303) 352-O2a2 WEBSITE: www.co.weld co.i 915 10TH STREET P.O. BOX 75£ C. GREELEY, COLORADO 806: COLORADO June 21, 2000 Parcel No.: 096105220011 Account No.: R01112E ^ Parcel No.: 096105212003 Account No.: R12E06P7 NORTH WELD PRODUCE CO P O BOX 399 GREELEY CO 80632 Dear Petitioner(s): The Weld County Board of Equalization has set a date of Tuesday, August 1, 2000, at or about tl i€ hour of 2:30 PM, to hold a hearing on your valuations for assessment. This hearing will be he lc at the Weld County Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor Hearing Room. You have a right to attend this hearing and present evidence in support of your petitions. The WE IC County Assessor or his designee will be present. The Board will make its decision on the basis or the record made at the aforementioned hearing, as well as your petition, so it would be it 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 August 5, 2000, a:u! mailed to you on or before August 10, 2000. Because of the volume of cases before the Board of Equalization, all cases shall be limited to '5 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. At least two(2)working days prior to your hearing the Assessor will have available, at your reques, the data supporting his valuation of your property. NORTH WELD PRODUCE CO - R0111291, R1280697 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, B ARD OF UAL ATI N tette/ , Y Donald D. Warden, Clerk to the Board / BY: r "i �'i ' / , ,I r ._ 7 - Carol A. Harding, Deputy ___ cc: Stanley Sessions, Assessor Hello