HomeMy WebLinkAbout940727 RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1994, WELD COUNTY, COLORADO
PETITION OF:
FORMBY EMMETT B &
FORMBY CATHERINE M
8413 GREENWOOD DR
LONGMONT, CO 80503
DESCRIPTION OF PROPERTY: PIN: R 5267186 PARCEL: 130929000034 - 16210A PT
W2SW4 29 2 66 BEG AT PT 439. 11'N & 35'E OF SW COR SEC
29 E371.07' TO W R/W UPRR S ON RR R/W 409. 11' TO PT
30'N OF S LN SEC 29 W272. 13' TO PT ON ELY R/W US 85 N
ON R/W 1.8' TO PT ON NELY R/W US 85 NWLY ON R/W 130.6'
N323.31' TO BEG
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
organized 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 1994, 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 1994, 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 Mark von Engeln, Asset Realty
Advisors, Inc. , 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 clearly supported the value placed upon the Petitioner's property by the
Weld County Assessor. Such evidence indicated the value was reasonable,
equitable, and 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 be, and hereby is, affirmed as
follows:
940727
` J
Page 2
RE: BOE - FORMBY EMMETT B & CATHERINE M
ORIGINAL
Land $ 30,000
Improvements OR
Personal Property 397,893
TOTAL ACTUAL VALUE $ 427,893
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:
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
940727
Page 3
RE: BOE - FORMBY EMMETT B & CATHERINE M
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)
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.
940727
Page 4
RE: BOE - FORMBY EMMETT B & CATHERINE M
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 28th day of July, A.D. , 1994.
Min
BOARD OF COUNTY COMMISSIONERS
ATTEST: WELD COUNTY, COLIRADO
Weld County Clerk to th Board '//�
/ // /, W. H, . •bst• . .rma1/
/ o
i17/\
BY: �`i(/ �/'ii-6:A
Deputy Clerk to the Board Dale K. Hall, Pro-Tem
APPROVED AS TO FORM: 1
,7eiye.7datime_c_t ,wie:‘,46,6",�E. BBaaxter
County Attorney ance L. Harbert
L/ /
Barbara J. Kirkm er
940727
BOE DECISION SHEET
PIN I/: R 5267186 PARCEL It: 130929000034
FORMBY EMMETT B &
FORMBY CATHERINE M
8413 GREENWOOD DR
LONGMONT, CO 80503
HEARING DATE: July 28, 1994 TIME: 9:00 A.M.
HEARING ATTENDED? e9 N) NAME: Makes A Qt ,y� p n� 4,41-
AGENT NAME: ASSET REALTY ADVISORSlikei,,t
APPRAISER NAME:
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL SET BY BOARD
Land $ 30, 000 $
Improvements OR
Personal Property 397,893
Total Actual Value $ 427,893 $ 5/4 7� e9 3
COMMENTS:
MOTION BY �� TO * /fi2 fy 43J 3
SECONDED BY 61, ./3 Baxter -- 0/N)
Hall --a/N)
Failed to prove appropriate value Harbert --)E 0N)
No comparables given Kirkmeyer - N)
-y Other: Webster N)
er7f au tdl mc..-
RESOLUTION NO.
940727
OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
GREELEY, COLORADO 80631
NI; TI CE OF DENIAL PHONE (303) 353-3845,EXT. 3656.
1421.OA PT W2Swa 29 2 Co dEG AT PT 4J-. 11'N t. 3.5*E
OF SW CUR SEC 29 E371.07= TO W N/bi UPRk 5 ON RR
COLORADO kik 409w/ I' 1O PT JtU ''N OF S LU SEC 29 w212.1.3' TO
PT UN ELY R/w US d5 h EN k/W 1.8' To PI UN NtLY
i' /W U. d3 NiIWLY ON Will 13O.t,' NJ2J.JL' TO EiEti
13015 1O CR wELit
OWNER FONHLIY EMMETT a
ASSi:T REALTY ADVISERS PARCEL 13092yOUOO341
PIN N 52671136
Au ; tt-K
S L BELLEVLLi, u, YLAR 19;4
LITTLETON CO eO121 LUG inlay
Dti/1t/idly
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):
f4ESI DENT IAL PROPERTY IS VALUED SP! CONSIDERING THE MARKET APPROACH.
Ni.R'CULTURAL LAND VALUE IS DETERMINED SULLY BY THE EARNING Cfi PRODUCTIVE
CAPACITY OF THE LAND CAPITALIZED AT A RATE SET 8Y LAW.
ALL OTHERS PROPERTY; INCLUDING VACANT LANG IS VALUED BY CUNSIUtRIN(, 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 deter-
mined the valuation(s) assigned to your property.The reasons for this determination of value are:
NO CHANE HAS BEEN MADE TO THL ACTUAL VALUATION OF THIS PROPERTY•
COLORADO LAW MEtUIRES US TO SEND HIS NLTI(E OF DENIAL FOA ALL
PROPERTIES UN WHICH WE DU NUT ADJUST THE VALUE*
E IVd2 COLORADO CONSTITUTIONAL CHANGE REQUIRES COMMERCIAL PROPERTY
TU dE VALUED DASE:U EN THE 1992 LEVEL CF ACTUAL VALUE ANU ASSESSED AT
27% FOR 1°. 94. REPLACEMENT COST OF CChSTTIUCTION MATERIALS, MARKET
VALUE AND INCOME DERIVED FROM THE PRLJPENTY ARE APPROACHES USED TO
DETERMINE THE ACTUAL VALUE OF YOUb P1"CPERTY. YOUR VALUATION IS
SUPPORTED by THE APPRAISAL PROCEDURES REQUIRED dY LAW.
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE
OF VALUE PRIOR TO REVIEW AFTER REVIEW
LAND 30, 000 3O,OOu
IMPS 397, d93 3y7,d93
TOTALS $ $ '.27id9J$ 427,89,3
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.
By: WARREN L. LASELL • 0t/2o/44
• WELD COUNTY ASSESSOR Q
J t' DATE 940727 1 4
15-DForm PR-207-87/94 ADDITIONAL INFORMATION ON REVERSE SIDE
H .. . , A PPi-„i\j„, nit HS:PsEs >E.,Iii oftN
y f <,.. ;' j al za,“ '„u;ti August 5 for•fhp !"ft Y,h,i B -f ,=r, ahzstL fr t 3sA rn, n „ 'tfN,t',c,o on t ,3, n 7n .1: •,nrr-i I 4 ou :. i .t.nrrn tl, ..o
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t
P d -1U101
( 8 ) S'TA.rr14MEr4T or r'a[3Itlig[ SC
Property Owner, EMMET FgEMBY hereby appoints Asset Realty
Advisors, Inc. (hereinafter ARA) as Property Owner's
representative in connection with the valuations for
assessment of Property Owner's real property which is
identified as 13015 WELD CO. ROAD 16 and which is
contained on property tax schedule(s) 5267186 in WELD
County of Colorado for the year(s) 1992/93494, taxes
payable in ].993/94/95 and shall have full authority to
review all applicable records relating to the valuation for
assessment of such property; to negotiate the valuation for
assessment of such property with the county assessor, with
any representative of the assessor's office, or with the
county, at an amount which ARA deems appropriate in the
circumstances; and to pursue any statutory remedies which
client may possess before the county assessor, County Board
of Equalization, Board of Assessment Appeals, uistrict
court, Appellate Courts, or in binding arbitration in the
Property Owner's name and in Property Owner's behalf and to
hire and appoint an attorney f ARA's own choosing to
represent the Property owner at any tine when, in ARA's
discretion an attorney is needed. i
THIS AGREEMENT SHALL REMAIN IN EFFECT UNTIL REV ED TN
WRITING EY PROPERTY OWNER.
gent Mark L. eln met�h Eng Formby
Asset Realty Advisors, Inc. 13015 Weld Co oad 16
5 Belleview Dr. Ft. Lupton, CO 80621
Littleton, CO 80121 303-573-1834
303-781-2608 (Fax 783-0409) 303-857-6950 (FAX)
STATE OF COLORADO )
COUNTY OF d l.0 l )
The foregoing afire ment has been acknowledged before me
this I&'f'day of � �h, Q , , 1994, by (Property Owner)
(if by natural person or persons, insert name (s) ; if by
person acting representative or official capacity or as
attorney-in-fact, or other capacity or description; if by
officer of a corporation, insert name of such officer (a)
as the president or other officer of such corporation,
naming it) . If acknowledgment is taken by a notary public,
the date of expiration of his seal shall also appear on the
certificate.
Witness my hand and official seal _ C
(Notary Public
My Commission expires / I-f0=q`l
ewee
940727
o CC TN
PETITION FOR REVIEW
n3
TO THE HONORABLE WELD COUNTY BOARD OF EQUALIZATION'
CLrnv
�- ci1
Petitioner, EMMETT B FORMBY C/O ASSET REALTY VISORS, INC.
5 Belleview Dr. Littleton CO 80121, requests review of the
County Assessor's Notice(s) of Determination or Denial for
the Subject Property attached on Exhibit A for tax year
1994. Copies of those Notices of Determination or Denial
for the Subject Property which has been received by the
Petitioner
DESCRIPTION OF SUBJECT PROPERTY:
Parcel Number: 13092900034
Location: 13015 Weld County Rd 16
ESTIMATED TIME FOR PETITIONER TO PRESENT CASE:
minutes, or 1 hours.
REPRESENTATION:
Petitioner requests a hearing at which petitioner will be
represented by the following registered agent, Asset Realty
Advisors, Inc. or legal Counsel: Lee H. Bartholomew,
Attorney, Regestration #6715; Address: 5 Belleview Dr.
Littleton CO 80121 Telephone (303) 781-2608 FAX (303)
383-0409.
CERTIFICATE OF SERVICE
I certify that I have served a copy of this Petition, with
attachments, t. the County Board of Equalization by
certified mail delivery, this 10th day of June, 1994.
ASSET REALTY ADVISORS, INC.
By:ir u"„c,�t A----
Mark L. von Eng In
5 Belleview Dr.
Littleton CO 80121
Telephone: (303) 781-2608
ARA/1016
940727
CLERK TO THE BOARD
P.O. BOX 758
IDc.
GREELEY,COLORADO 80632
111 (303)35&4000 EXT.4225
COLORADO
July 19, 1994
Parcel No. : 130929000034 PIN No. : R 5267186
FORMBY EMMETT B &
FORMBY CATHERINE M
8413 GREENWOOD DR
LONGMONT, CO 80503
Dear Petitioner(s) :
The Weld County Board of Equalization has set a date of Thursday, July 28,
1994, at or about the hour of 9:00 A.M. , to hold a hearing on your
valuation for assessment. This hearing will be held 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 petition. The Weld County Assessor will be present before the Board.
The Board will make their 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 August 5, 1994, and mailed to you on or before
August 10, 1992.
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.
940727
FORMBY EMMETT B & - R 5267186
Page 2
At least two (2) working days prior to your hearing the Assessor will have
available, at your request, the data supporting his valuation of your
property.
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
St
Clerk to t e Board BY: �0-7/1''/c,/u 612'4(d/
Kirtp erlee A. Schuett, Deputy
cc: Warren Lasell, Assessor
ASSET REALTY ADVISORS,
_ O . E _ HEARING F'O R 1 9 9 4
eig ma. Si
DATE: JULY 28, 1994
TIME: 9 :00 A.M.
SUBJECT: FORMBY FORD
ADDRESS : 13015 COUNTY ROAD 16 ,
FORT LUPTON
PIN#: 5267186
940727
VALUATION AND APPEAL HISTORY
Actual Value Tax Year 1991 Assessed Mill Levy
Land 30, 000 8, 700
Improvements 435, 759 126 , 370
Total 465, 759 135, 070
Actual Value After 1991 Appeal Assessor & CBOE
Land 30, 000 8, 700
Improvements 397,893 115, 390
Total 427, 893 124, 090 . 088273
Actual Value Tax Year 1992 No Assessor or CBOE Appeal
Land 30, 000 8, 700
Improvements 397, 893 115,390
Total 427, 893 124 , 090 . 086371
Actual Value Tax Year 1993 No Assessor or CBOE Appeal
Land 30,000 8, 700
Improvements 397 ,893 115, 390
Total 427 ,893 124, 090 . 085959
Actual Value After 1993 Assessor Appeal-No CBOE Appeal
Land 30, 000 8, 700
Improvements 397, 893 115, 390
Total 427,893 124 , 090 . 085959
Actual Value Tax Year 1994 Assessor Appeal
Land 30, 000 8, 700
Improvements 397,893 115, 390
Total 427,893 124,090 UNDETERMINED
940727
COST APPROACH
Parcel Number : 1309-29-0-00-034
Property Owner : EMMETT FORMBY
Address : 13015 CR 16
City, State, ZIP: FT. LUPTON CO 80621
Surveyed by : ROLAND FROID
Date of Survey : JULY 19, 1994
Occupancy: Automotive Center
Floor Area: 13,298 square feet Number of stories: 1.0
Class: Steel Average story height: 12.0 feet
Cost rank: Average Effective age: 10 years
Cost as of: 6/92
Heating and Cooling:
Space Heater 100%
Units Cost Total
Base Cost 13,298 27.64 367,557
Heating & Cooling 13,298 1.58 21,011
Basic structure cost 13,298 29.22 388,568
Extras:
OFFICE/SALES PACKAGE HEAT 5,232 2.60 13,603
ASPHALT PAVING 48,900 0.85 41,565
CONCRETE 745 1.85 1,378
6' SECURITY FENCE 1,100 7.70 8,469
20' SWING GATES 2 465.00 930
LOT LIGHTS 7 25.00 175
UTILITY SHED 1,800 7.85 14,130
Subtotal 80,250
Replacement Cost New 468,818
Less Depreciation:
Physical and Functional <15.0%> <70,322>
Depreciated Cost 398,495
Miscellaneous:
Land 30,000
Total 428,495
Cost, data by MARSHALL and SWIFT
Rounded 428,500
Cost Per Square Foot 28.38
2
940727
COMPARABLE SALES APPROACH
Research of Auto dealerships resulted in 12 sales and 6 lease/
option sales with ranges as follows :
12 Sales :
BLDG SIZE 6,204 SQFT to 85, 677 SQFT
BLDG AGES 1953 to 1987
SALES PRICE $38 . 87 PSF to $100 . 97 PSF
Six Lease/option sales :
BLDG SIZE 21, 113 SQFT to 36,285 SQFT
BLDG AGES 1958 to 1976
LEASE/OPTION RENTS $4 . 74 PSF to $10 .46 PSF
CAP RATES 8% to 12%
L/O SALES PRICE $46 . 16 PSF to $127 . 88 PSF
LAND-TO-BLDG RATIOS 3 . 66 : 1 to 14 . 21 : 1
(all 18 sales)
Review of the 18 total sales were selected for analysis . Data
as follows :
BLDG SIZE 6 ,204 SQFT to 28,298 SQFT
BLDG AGES 1953 to 1983
SALES PRICE $38 . 87 PSF to $79 . 72 PSF
RESULT: Selected sale price of $50 . 00 with a downward adjustment of
40% for the subjects market cost of $30 . 00 PSF.
AUTO DEALERSHIP 13,298 SQFT X $30 . 00 PSF equals $398, 940
WHSE/SHED 1, 800 SQFT X 6 . 50 PSF equals 11,698
TOTAL 15,098 SQFT $410,638
LAND 30,000
VALUE by COMPARABLE SALES APPROACH $440, 638
ROUNDED $440,500
COST PER SQUARE FOOT ROUNDED
940727 3
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940727
•
Market Sales
Price per sq ft incl. land
100 --
80
60
w
Price/SgFt
a)
40
20
0
#2 #4
#1 #3 #5
Comparables
PIN 52671861
940727 5
INCOME APPROACH
Research of Auto dealerships resulted in 18 leased properties .
The leases were triple net with expenses for Insurance, Taxes and
repair/maintenance passed on to tenant. An expense for management
fee would apply for property owner. Capitalization rates derived
from these leases ranged from 8% to 12% . Net rent data ranges are
as follows :
BLDG SIZE 18, 100 SQFT to 85 , 677 SQFT
BLDG AGES 1966 to 1990
LAND-TO-BLDG RATIO 4 . 22 : 1 to 11 . 10 : 1
NET RENTS $4 . 41 PSF to $13 . 86 PSF
IIIIII0of the 18 leases was selected for analysis with data
as follows :
BLDG SIZE 18, 100 SQFT to 30, 000 SQFT
BLDG AGES 1966 to 1987
LAND-TO-BLDG RATIO 4 .22 : 1 to 10 . 75 : 1
NET RENTS $4 . 41 PSF to $9 . 04 PSF
RESULT: A mean of $6 .50 PSF with a downward adjustment of
approximately 40% for the subjects net rent of
$4 . 00 PSF.
POTENTIAL GROSS INCOME
Size Net Rent Annual
13 ,298 sqft x $4 . 00 psf equals $53 , 192
Expenses (vac/coll/mgmt) 8% minus 4 , 255
Net Operating Income 48, 937
Capitalization Rate 11 . 5%
Value of Dealership by Income Approach $425, 536
Plus 1, 800 sq ft utility shed $ 11 , 698
Total Value $437 , 234
Rounded $437 , 00O
COST PER SQUARE FOOT $ 28 . 47
940727
6
C•OMPARABLE AUTOMOBILE DEALERSHIP RENTAL DATA
.Huildirig:Name:and; Year1.1' Bldg. Land Land Yeas Lease-Vp >Rental':
Rental :t.O Ation:'...'.':: of..' Annual size Area to Bldg of Cap. Rate Per
S st. Ron in SF Ratio leaee Ildtg SF
Oon t in. SF .
'IIIIIIIII 5267186 1966
13015 CR 16 REMODEL 13,298 130,680 8.66:1 MI MR
FORT LUPTON 1989
1 189 N KUNER RD 1966 $132,000 18,950 82,764 4.37:1 1991 10% 6.97
BRIGHTON 1974
2 3805 W 10 ST 1968 $87,780 19,891 97,262 4.22:1 1993 4.41
GREELEY 1987
3 2040 W 104 AVE 1971 $180,000 26,288 213,008 8.10:1 1992 8% 6.85
NORTHGLENN
4 2030 104 AVE 1983 1180,000 30,000 169,971 5.67:1 UNK 6.00
NORTHGLENN
5 2600 104 AVE 1987 $132,000 22,795 160,000 7.02:1 UNK 5.79
NORTHGLENN
6 1800 INDUSTRIAL RD 1976 $130,575 19,062 130,602 6.85:1 1992 10.5% 7.20
LONGMONT 1983
7 999 E EISENHOWER DR 1965 $204,000 22,578 242,629 10.75:1 1991 10% 9.04
LOVELAND REMODEL
1973
940727 7
Automobile Dealerships
Real Estate Rental Data
$10
$8
Li_ $6
c
® Rent/SgFt o_
m
..
cc $4
$2 — -
$0
+ ► #2 #4 #6
#1 #3 #5 #7
Comparables
PIN 5267186$
940727 8
RECONCILIATION AND FINAL VALUE ESTIMATE
The last step in the appraisal process is to conclude a final
estimate of value of the subject property. This is done after
analyzing the quantity, quality and reliability of the data
utilized, strengths and weaknesses of the type of property being
appraised.
A review of the value indications derived from the three
approaches employed is as follows :
Cost Approach $428,500
Market Comparison Approach $440,500
Income Approach $437 , 000
The Cost Approach is commonly considered the best indicator of
value of a special purpose facility. A weakness of the Cost
Approach is that accrued depreciation is difficult to measure.
After the subjects purchase, $342 ,425 was invested in remodeling
the improvements which would significantly lengthen the remaining
life. As a result, this approach is given the least consideration.
The Market Comparison Approach has sufficient quantities of
data. The majority of the sales analyzed were owner-occupied while
four sales were lease/options . After analyzing, their indications
of values formed a wide range but supported a downward adjustment.
Since the highest and best use of the subject property involved
purchases by those who intended to occupy the facilities, the
Market Comparison Approach is considered a strong indicator of
value with most supportable data.
The Income Approach is usually a strong indicator of value.
After analyzing the large number of leases obtained, the income
approach would be viable in determining a net rent per square foot
which could be applicable to the subject and is valuable because it
adds support to the value estimated by the market approach.
As a result of all the data analyzed, the Market Approach and
Income Approach supports the assessors value, as of June 31, 1992,
and recommends no changes for the 1994 value.
Land $30, 000
Imps $397, 893
Total $427,893
1994 APPEAL DOCUMENTATION
FOR
SCHEDULE # S 2 6 7 1 S 6
EXHIBIT
A
alt",/3540
94072`7
Z N C OME APPROACH
Petitioner has identified leases from around the front
range (See Attached) which indicate lease rates from $2.50
PSF for Service to $7.00 PSF for Showroom, or average rates
from $5.44 PSF on major traveled arteries of Colfax Ave.
104th Ave. and South Broadway Sts. These leases are
considered to be superior in location, traffic volume and
quality of construction. Petitioner has adjusted these
lease rates and formulated the following:
GROSS POTENTIAL INCOME
9066 SF of Service @ $2. 50 PSF $22,665
4232 SF of Showroom @ $5.00 PSF 21 ,160
Total 43 ,825.
Less vacancy 5% < 2 ,191.>
EFFECTIVE GROSS INCOME 41 , 633 .
Less expenses 5% < 2,081.>
NET OPERATING INCOME $ 39,552.
CAPITALIZATION RATE 12% $ 329 ,600.
MARKET APPROACH
The property was purchased in 1989 for $270,000 .
Considering the dated condition of the property at the time
of purchase, the petitioner (owner) overpayed for the
property. Improvements were made subsequent to the
purchase. These improvements were cosmetic to the building
and paving/landscaping to the yard which are on a short
depreciation schedule. The actual sale of the subject
property and the sale of 3805 W 10th St most accurately
reflect the market value of $305, 854 ($23 PSF) of the
subject. (See Attached Sales) .
940727
COST ESTIMATE FOR: 5267186
PROPERTY OWNER: FORMBY FORD
ADDRESS: 13015 WELD COUNTY ROAD 16
SURVEYED BY: ARA
DATE OF SURVEY: 4/94
DESCRIPTION:
OCCUPANCY: 69.0% SERVICE GARAGE
31.0% AUTOMOBILE SHOWROOM
FLOOR AREA: 13, 298 Square Feet AVERAGE STORY HEIGHT: 12. 0 Feet
CLASS: S Steel EFFECTIVE AGE: 20 Years
COST RANK: 2.0 Average CONDITION: 3. 0 Average
NUMBER OF STORIES: 1 .0 COST AS OF: 06/92
EXTERIOR WALL:
Corrugated Steel , Steel Frame 90%
Store Front 10%
HEATING AND COOLING:
Space Heat 69%
Package Heating & Cooling 31%
UNITS COST TOTAL
BASIC STRUCTURE COST: 13 , 298 27.51 365, 783
LESS DEPRECIATION:
Physical and Functional <48 .7%> <177 ,978>
DEPRECIATED COST 187,805
YARD IMPRVMNTS LIGHTS FENCE GA 17, 316
ASPHALT PAVING CONCRETE 35 ,696
SHED 11 ,698
Estimated Land Value 30 , 000
INDICATED VALUE BY COST APPROACH: 282, 515
Cost Data by MARSHALL & SWIFT
940727
PET 2 T i ON ERS RECONCILIATION'
O F VALU
13015 WELD COUNTY ROAD 16 - SCHEDULE # 5267186
The petitioners have weighed all approaches to value
equally and estimate the total value 1994 at $305.989 .
Cost approach $282,515
Income approach $329,600
Market approach $305,854
The petitioners final estimate of value is:
$305 .989
ARA/2 4 5 6
940727
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4 7
WELD COUNTY SALE COMPARABLES
1. 2733 8TH AVE. - GREELEY
$1,100,000 6/91 - EHRLICH MOTORS NISSAN - MULTI-PARCEL SALE
2. 3501 W. 10TH - GREELEY
$925,000 12/86 - TACO BELL - SALE OUT OF LEASE YEAR AND NEWER
SALE TO TACO BELL
3 . 200 ALPINE ST. - LONGMONT
$1,200,000 7/88 - PRESTIGE CHRYSLER - PRICE INCLUDED OTHER
CONSIDERATION NOT REFLECTED IN PRICE (APPROX. 400,000)
4 . 710 MAIN ST. - LONGMONT
$1 ,850, 000 2/90 - FRONTIER HONDA - MULTI-PARCEL SALE PER RODDY
5. 1800 INDUSTRIAL CIRCLE - LONGMONT
$1 ,300,000 - HERBERT BUICK - LEASE BUYOUT 10 YEARS OLD - VERIFIED
6. 125-127 MAIN ST. - LONGMONT
$265,000 7/91 - $35 PSF
7.** 2999 104TH - NORTHGLENN
$4 ,175,000 4/91 - ELWAY HONDA - ASSIGNED VALUE INVOLVING TWO
LOCATIONS (10030 E. ARAPAHOE ROAD) - ASSESSORS VALUE AT
$3 ,800,000
8 . ** 890-894 S. HAVANA - AURORA
$1 ,190,000 12/90 - CARMART - INVOLVED LEASEBACK FROM LARRY
MILLER GROUP WITH FAVORABLE LEASE RATE - VACANT 3 YEARS
9.** 1301 S. HAVANA - DENVER
$3 ,450,000 7/91 - SUSS MOTORS - NEWER PROPERTY, HIGH PROFILE,
NEWER, $83 PSF
10.** 4330 & 4350 KENTUCKY - DENVER
$2,600,000 7/91 - MURRAY MOTORS - LONG TERM LAND LEASE BUYOUT
11 .** 2033 S. WADSWORTH - LAKEWOOD
$3,880,000 2/93 - LUBY CHEVROLET - BUYOUT OF R.E. & DEALERSHIP
BETWEEN JOE LUBY AND DICK FLEISCHMAN (SON-IN-LAW)
-_-- 940727
12.** 6060 S. BROADWAY - LITTLETON
$2,700,000 7/91 - MONARCH MOTORS - LEASE PURCHASE OF LONG TERM
LEASE WITH FAVORABLE TERMS FROM SELLER
13 .** 10030 E. ARAPAHOE ROAD - ENGLEWOOD
$4,000,000 4/91 - ELWAY TOYOTA - SEE SALE #7, OTHER DEALERSHIP -
PRICE IS ASSIGNED VALUE BY PURCHASERS - 1991 VALUE WAS AT
$3,600,000
14 .* 6025 S. ARAPAHOE - BOULDER
$3 ,833, 250 7/91 - FISHER CHEVROLET - FIRST SALE FROM CROUCH TO
ALHER (PRESIDENT OF PEPSI COLA INTERNATIONAL) - TENANT DEFAULTED
ON LEASE - ALHER SOLD AT LOSS TO FISHER
15.** 9300 W. COLFAX - LAKEWOOD
$1 ,675,000 9/93 - LANDMARK LINCOLN MERCURY - PURCHASED FOR
JOHNNY HAAS VIA FORD CO. - $46 PSF - BETTER LOCATION THAN
AVERAGE & NEWER
16.** 2040 W. 104TH AVE. - NORTHGLENN
$2 ,000,000 6/92 - GRAND VW MITSUBISHI - FRANK PIERCE - SALE
NEVER OCCURRED - INVALID
17. 999 EISENHOWER - LOVELAND
$1 ,800,000 6/92 - HERITAGE FORD - NOT ARMS LENGTH - SELLER
GOLDSTEIN PARTNER WITH WEIBEL - INCLUDED LEASEBACK - INVALID
18.** 5600 S. BROADWAY - DENVER
$2,700 ,000 6/90 - BROADWAY JEEP - $2 ,700,000 INCLUDED DEALERSHIPS,
MULTI-PARCEL PURCHASES OF LONG JOHN SILVER & COLORADO CAFE -
INCLUDED REMODEL AND FAVORABLE LEASEBACK - CHRYSLER PAID FOR
ALL
* - VERIFIED WITH CLIENT
** - CLIENTS OF ASSET REALTY ADVISORS
A➢A/3538
940727
WELD COUNTY LEASE COMPARABLES
1 . 189 KUNER ROAD - BRIGHTON
$4.00 PSF NNN 18950 SQ. FT. - COUNTY ASSIGNED RENTAL RATE
(USING A 10% VACANCY, 20 % EXPENSES, 13 1/2 % CAP RATE) - VERIFIED
WITH COUNTY AND JOHNSON AUTO PLAZA
2. 3805 W. 10TH - GREELEY
SOLD 23 PSF - MARKLEY TO KEY AUTOMOTIVE - NO LEASE IN PLACE
VERIFIED WITH DON WEIBEL OWNER OF KEY AUTOMOTIVE
3 .** 2000 W. 104TH - NORTHGLENN
$8.49 PSF NNN - GRAND PONTIAC/BUICK INCLUDES RESIDENTIAL LAND
IN REAR USED FOR ADDITIONAL PARKING - VERIFIED
4. ** 2040 W. 104TH - NORTHGLENN
$5.21 PSF NNN - GRAND MITSUBISHI/VW - VERIFIED
5.** 2030 W. 104TH - NORTHGLENN
SEE #4 - PART OF SAME LEASE
6 . 2400 W. 104TH - NORTHGLENN
LAND LEASE ONLY - NISSAN LEASING - VACANT - COUNTY ASSIGNED
LEASE RATE - VERIFIED WITH OWNER (RUSTON)
7. 2500 W. 104TH - NORTHGLENN
LAND LEASE ONLY - FORD MOTOR CO. - VACANT - COUNTY ASSIGNED
LEASE RATE - VERIFIED WITH OWNER (RUSTON)
8 . 2600 W. 104TH - NORTHGLENN
LAND LEASE TO SATURN OF AMERICA - COUNTY ASSIGNED LEASE RATE -
VERIFIED WITH OWNER (RUSTON)
9.** 2999 W. 104TH - NORTHGLENN
COUNTY ASSIGNED LEASE RATE - ELWAY HONDA - OWNER OCCUPIED -
7 ROD REAL ESTATE NORTH TO ELWAY HONDA
10. 1800 INDUSTRIAL ROAD - BOULDER
NO LEASE IN EFFECT - LEASE BUYOUT FOR $1,300,000 9/92 -
VERIFIED WITH JIM HERBERT (HERBERT BUICK)
940727
11.** 6025 ARAPAHOE - BOULDER
OLD LEASE WAS IN DEFAULT - PROPERTY SOLD AT LOSS FROM ALBER
TO FISHER - VERIFIED WITH FISHER
12. 999 E. EISENHOWER DRIVE - LOVELAND
INTERNAL LEASE - PROPERTY SOLD - NON ARMS-LENGTH 6/92 -
SELLER & PURCHASER TENANT ALL THE SAME - VERIFIED 7/12/94
ROGER WEIBEL
13 .** 2601 S. COLLEGE AVE. - FORT COLLINS
$6.98 PSF NNN - 24 ,040 SF SPRADLEY - VERIFIED 7/94 WITH
CHRIS SPRADLEY
14 .** 3835 S. COLLEGE AVE. - FORT COLLINS
INTERNAL LFASF FROM FOOTHILLS CHRYSLER TO DOUG MORELAND OWNER
15.** 5811 S. COLLEGE AVE. - FORT COLLINS
INTERNAL LEASE FROM TYNAN TO TYNAN & CO. - VERIFIED.
16. 6120 S. BROADWAY - LITTLETON
COUNTY ASSIGNED LEASE RATE OF $6 .00 PSF (10% VACANCY, 20%
EXPENSES, 11% CAP RATE + TAXES) - VERIFIED WITH MARK RICK
7/12/94 QUALITY MITSUBISHI
17. 6160 S. BROADWAY - LITTLETON
$12 . 74 PSF NNN - STATE OF THE ART FACILITY - LEXUS - ALSO
INCLUDES ADDITIONAL PARKING FROM 3RD PARTY LANDLORD
18 . 5600 S. BROADWAY - LITTLETON
LEASE FROM CHRYSLER TO BROADWAY JEEP AT $9.69 PSF NNN -
LEASE PAYMENTS INCLUDED EXTENSIVE REMODELING AND ACQUISITION
OF PARKING.
AAA/2537
940727
•
r r+,: PRICE: $140,000
' ft e OWNER: Precision Cast, Inc.PH:
i II Ili 1 c.,
v� ', ,. ° Af"j' Si ir _ $.,, + OCCUPANT: Vacant PH:
ra;,.;,4 ,1 L _� °: �' _ T
' t.,,,'r,;,S, .c,; SHOWING ARRANGEMENTS: Arrange through
41.y I '� 41,4 • 01 m __.a J.L. Sears office to show
_.
y 4s, . . rA 4, `��� ,„ „ ASSUMABLE LOAN NO
T` ne i`.Ti � ' ♦-;V c-. LENDER:
• wd �' ;w���2'�V��� ���• •: �� - NUMBER: CLOSED: 2-17-93
' BALANCE: PRICE: $125,000
PITt: BUYER: Colo. Concrete II
ADDRESS: 15457 Hwy 52, Fort Lupton, CO INT. RATE: SELLER: Platte Valley^ K,
TERM:
LEGAL: PT E2E2NW4, Sec 3, TIN, R66W of 6th P.M.
See File. TERMS: Cash to Seller
ZONE: I-3 .
SITE SIZE: 216,736 SF 4.98 ± acres \%g`✓
ARCH.STYLE: 16' high — one story building TAXES: (1990) $3,232.76
70' X 100' Braden WATER: Deep well — Foxhill—Larimie Sands
CONSTRUCTION: Metal Building 3/4 of the SEWER: Septic
inside of building has cement. TRASH: Private
AGE: 1985—Steel Building/1987—Office & SCHOOLS: Fort Lupton MAIL: Ft. Lupton
Batch Plant
AREA: 7,000 S.F.: Main Building—Duo-(tape_ REMARKS.
252 SF Office and Batch Plant Well located I-3 site with many
ELECTRICAL: Single phase and 3—phase aminities. New buyer will need to do a
PLUMBING: 3,500 gallon storage on site Site Plan Review for Weld County before
engaging in business.
HEATING: Natural Gas on property Any personal property left on premises
after closing will belong to buyer.
INCLUSIONS: 6' chain link fence around the
perimeter of property
EXCLUSIONS: Mobile office IS NOT included REPRESENTATION: All information contained herein
is from sources believed to be reliable. However. J L.
Sears& Associates, Inc. does not warrant or guarantee
said information. All prospective purchasers are en-
couraged to obtain legal and/or technical guidance. jli
,
REMARKS: Seller will make no warranties or -
guarantees as to condition of well or Homes,Farms
electrical. Buyer should have septic and Acreage Denny Mintle
inspected and water tested for potability. S ==octave
es.Bs7.5870
Jr L1
SEARS SOCIATES
INC.
REAL ESTATE
Ft.Luplo Denver Metro Greeley Area
NIP 3 -2930 • 303/829-0432 • 3I785-2291 •
'10 DENVER AVENUE - FORT LUPrON -CO RADO 80621
940727
h, �/ COMM /IND
jr,11, 1 .
PRICE: $139,500.00
vat OWNERH0u5ehold Bank PH:
''aik` , d
.yk r. �. • OCCUPANT: Vacant PH:
''''
J r`. "�s rte„p p4 r.N �, ?J SHOWING ARRANGEMENTS:
4.n •4n�tlT'" T, ,,,g Make arrangement through Sears office
- 1 L i ASSUMABLE LOAN
y e rx9 nr ; Yro'�'ryy{ �jrty.4w,,rc LENDER:
NUMBER:
` r BALANCE:
PITI:
ADDRESS: 1762 N. Denver Avenue INT. RATE:
Fort Lupton, CO 80621 TERM:
LEGAL: See file
TERMS: Cash to Seller f.
ZONE: County Commercial 01.-. ��'
yd J
SITE SIZE: 81' x 337' _ .63 acres
ARCH. STYLE: Shop Bldg. w/ offices TAXES: Approx. $1,080 — 1989
WATER: Private well — shares v/south bldg.
CONSTRUCTION: Block and wood frame SEWER: Septic
TRASH: Private
AGE: New in 1982; Office portion remodeled in SCHOOLS: Ft. Lupton MAIL: Ft. Lupton
AREA. S.F.: 1982 REMARKS: Excellent offices and shop in
4480 Shop 42.5 x 80 = 3400 sf good location. Excellent Highway 85
ELECTRICAL: Office 28' x 36' - 1080 sf visibility. Now vacant and ready to be
Good moved into.
PLUMBING:
Good CLOSED: 7-29-91 e
PRICEf "$105',000
HEATING: SELLER:, Household Bank FSB "
Forced air office - shop has 3 OH
heaters INCLUSIONS: B0YER: -` Production Control Serrieer
•
EXCLUSIONS: REPRESENTATION: All information contained herein
is from sources believed to be reliable. However, J.L.
Sears 8 Associates, Inc. does not warrant or guarantee
said information. All prospective purchasers are en-
couraged to obtain legal and/or technical guidance. jp
REMARKS: Neat modern design, nice offices
with good shop
Shop has OH doors 10 x 10, 10 x 12 SEARS' & ASSOCIATES
12 x 12 plus 2 welkin doors INC. REAL ESTATE
6' chain link fence around storage shed
BURL VAN BUSKIRK
Broker/Sales Associate
Res. 857-4493 ,
klsr •
Fort Lupton Denver Metro Greeley Area
303/857-2930 • 303/629-0432 3031785.2291
140 DENVER AVENUE—Font LUPTON,COLORADO 00621
•
•
94072`,7
�i , / 1 COMM /IND
ts!iit ;t,r, i 1
irY;sc ", , : I PRICE $169,500.00
Fa s , J
i IL ,�t i • ° •. , l I Ilfhl �' OWNER: PH:
Household Bank
M .» �} _#i � occuPANr:National Oilwell PH:
,.''44,,9..,Fir•:„ ,". SHOWING ARRANGEMENTS:
n Ar?L' -rtt$ g �yMI„, , �lff`". cr.-I^te`,` 4,�'‘•
Make arrangements through Sears
is S'°fi 'fir +..3'Tfra ss yr t ngt:' ,,.e..
:: " 2 1,. +ky<- • "k'" "i's" ASSUMABLE LOAN
as. V,4 '''•'••' '
�f" leLENDER:
N NUMBER:
BALANCE:
PITI:
ADDRESS: 1742 North Denver Avenue INT. RATE:
Fort Lupton, CO 80621 TERM:
LEGAL: See file
TERMS: Cash to seller
4
ZONE: County commercial I Q S
SITE SIZE: 94 x 337 = .73 acres ^V O 1
ARCH. STYLE: Warehouse with office TAXES: 1989- Approx. $2650.
WATER: Shared well w/ building on North
CONSTRUCTION: Steel frame w/brick & steel SEWER: septic
siding TRASH: Private
AGE: SCHOOLS: F.L. MAIL:
F.L.
REMARKS:
AREA: 6250 S.F.: total—shop 50 x 105
office 50 x 20 Excellent location!
ELECTRICAL: good Good Highway 85 location.
PLUMBING:
good National 0ilwell pays $2280 per month rent.
HEATING: CLOSED 7-29-91'
Shop insulated and has 2 OH
INCLUSIONS: Household
FA in office PRICE ''
SELLER: Household Bank FSB
,BUYER: Ohle TERNS: Cash
EXCLUSIONS: REPRESENTATION: All information contained herein
is from sources believed to be reliable. However, J.L.
Sears 8 Associates, Inc. does not warrant or guarantee
SHOWING ARRANGEMENTS: said information. All prospective purchasers are en-
couraged to obtain legal and/or technical guidance. 1
REMARKS: Currently rented to National
0i1we11; fenced storage yard; 6' chain link , :W«;
4-5 offices in good condition $GARS• & ASSOCIATES
2 baths— one in office, one in shop INC'" REAL ESTATE
7800+/— sf paved parking
BURL VAN BUSKIRK
Broker/Sales Associate
Res. 857-4493 Is
Forl Lupton Denver Metro Greeley Area-
sak3031867.2930 3031629-0432 3031785-2291
i3/4
140 DENVER AVENUE—FOnT LUPTON,cololiAoo 00621
940727
COMM /IND
w v ,a +,, I ''
rep, • PRICE: $295,000
iV y a if�,3
Her r u;,14 OWNER: bast pH;
1'g 1011 II III I I OCCUPANT: Vacant i
Immediate possession PH.
A
lim
�'� J�n k I -SHOWING ARRNGEMENTS: / V
t ' .'V
r , l0,,,-.,;. ASSUMABLE LOAN No /lI ,{
�..�c t t g,, Ir• y a LENDER: ,ld 1. t
. 1r ! ,1. t ! g,14 / ,4.ae . ., NUMBER: r_'e l! t
BALANCE:lir
�i. /- (��
PITT: l 1 '� 6,
ADDRESS: 15549 Hwy 52 INT. RATE:
1I
TERM: C�� • �
LEGAL: Pt. NE4 Sec 3, ill, R668, Beg. at
center of Sec. Thence R 132D'; Thence E 660' TERMS: Cash, Conventional, Owner may
1320' S Thence Y to beginning ' carry with $100,000 down and strong
ZONE: financial statement.
C-3
SITE SIZE: 19 acres more or less — total 6.5 A
in 6' chain link fenced area
ARCH. STYLE: Commercial TAXES: $5,319.96
CONSTRUCTION: Steel with metal WATER: Commercial well — Foxhill 25 g.p.m.
siding — SEWER: Septic - Leach field
reinforced concrete slab floor TRASH: Private
AGE: 1986 SCHOOLS: Ft. Lupton MAIL: Ft. Lupton
AREA: 6800 S.F,; Main REMARKS: This is an excellent set—up for
trucking or construction company.
1680 SF: Upper office area
ELECTRICAL: Single phase 220 volt ..4 Large Offices — Paneled i carpeted
400 AMP service ..2 Classrooms — Paneled
PLUMBING: Copper ..5 Bathrooms
HEATING: R. Gas — Forced Air with central Kitchen facilities
air Well lit property and in excellent
•
INCLUSIONS: 2 — 300 gal gas barrels with meter. location.
1 — 10,000 gal underground tank with Tokheim
electric pump_
EXCLUSIONS: None REPRESENTATION: All information contained herein
-- is from sources believed to be reliable. However. J.L.
Sears 8 Associates, Inc. does not warrant or guarantee
SHOWING ARRANGEMENTS: By Appointment said information. All ros ective P P purchasers are en-
couraged to obtain legal and/or technical guidance. 3
REMARKS; }.. _. _. ...
CLOSED: 9-16-91 i f Homes,Farms
PRICE: $250 000 and Acreage Denny Mintle
Sales Associate
SELLER: Gut
t <' Res.857.6810
BUYER: Enander •
J.L.
SEARS OC w/30% down AID% & ASSOCIATES
INC.
REAL ESTATE
FL Lupton Denver Metro Greeley Area
303/057-2930 • 303/629-0432 • 303/785-2291
140 DENVER AVENUE - FORT LUPTON - COLORADO 80621
940727
- , COMM /1ND
+QA'`"'' ' /
Itli
sgai/rya r �r
tore/4 `+�, t x��s-6a .ILs ( Price: I4iO 000
III
�� t1PPP v,i. ,''�rrdr• ,� _ �,� �... .I'ernm: Cash
" ��i ii ¢ ;4,
�t1 "Ike �r`L,j, 7 tri"
41 „ „y1, Closed: 11-15-89•
Price: $110,000
Seller: Diamond Lumber
+ Buyer: WI, Inc.
Nib /
C
. Ii fIIIRnggn;flno n1rl tLi kill lifi C-Iirj �` >>r film-
817 4ith Street
Fort Lupton, Colorado 80621
Approx. - 1.5 Acre Fenced Yard a,vi Qf ,3<.A6 nj
Retail Bldg. w/a.t.t.ached Warehouse c
Steel Warehouse w/attached storage
Saw Shed
Ft Lupton ittr e{ih a Lumber Eu? 1,S. Tx s =f�92Y e
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REPRESENTATION. All information contained herein
e Cy,.-. is from sources believed to be reliable. I lowever, J.L.
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; ,� (, +t}Ix , y,, Scars& Associates, Inc. does not warrant or guarantee
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�4 u r ' ���,.16:,t;r ( } said information. All prospective purchasers are en-
yf r ' r M r ` j, �✓$I'C r"1 ',, e , 7-. tour iged to obtain legal and/or lechnrcal guidance.
ir ' 4 C3eM x v 1/4 drde f{ �'f :it',r��pr4 .
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f' '"'h' x� YJ y1y� PHONES
FORT LUPTON 057-2930
I
DENVER METRO 629-0432
1 JAL GREELEY AREA 785-2291
' SEARS & ASSOCIATES
MCALIO.
140 DENVER AVENUE FORTEUPION,COLORADO 00621
BURL VAN BUSKIRK
BROKEq-SALES ASSOCIATE
RESIDENCE PHONE 857-4493
940727
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Black Hills Trucking , Inc purchased
from Riblet Products Corp . 7-10 - 91
$ 360 , 000 --12556 WCR 21 , Brighton ss- q
Rec . 02255901
;D �c2�s i ( 0600 ts<, , '7z �0'w�_44%..4
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940727
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Outstanding Opportunity!
COMM / IND
fa
.0 I '` REDUCED ! !
it fr
/1 '1 _ PRICE:`5225TOO f#er jO0 f f5 ) at
1 OWNER: Cam p/Brewster PH
_ J t 4 a,'i OCCUPANT: Vacant PH:
, a 4! �O1 rl,hire a SHOWING ARRANGEMENTS: Contact J.L. Sears
. !- i- u� i II.'
f 1 �' mit � I *- ',- Office for arrangements
' ASSUMABLE LOAN Uo
xs r1 - wi LENDER:
w r��n _ •as 1!r NUMBER: CL0SEJk 5-21-93
It< BALANCE: . PRICE: ". $150,000 y'_
ale
PITI: BUYER: , George's True Value
ADDRESS: 214 Denver Avenue, Fort Lupton INT. RATE:, SELLER: Camenge.
TERM: TERMS: SBA Loan 4-.(6 n/�^LEGAL: Lots 7-12, Block 9
City of Fort Lupton TERMS: Cash to Seller Cy
ZONE: C-1 l
SITE SIZE: 21,000 sq. ft. I ' °S /
ARCH. STYLE: TAXES: $5,403.08 (1990) ,�
WATER: City
CONSTRUCTION: Brick & frame SEWER: City
AGE: 1928 TRASH: Private
SCHOOLS: Ft. Lupton MAIL: Ft. Lupton
AREA: 11,340 S.F.: + 1,400 SF Basement + 1,071 SF REMARKS:
shed This is a sound building located in
ELECTRICAL: 110/220 downtown Fort Lupton, Colorado, approximately
PLUMBING: Some new copper 20 miles north of Denver with good access to
Hwy 52, US 85, I-25, and I-76. Planned
HEATING: Hot water heat in office/showroom development in the region makes this an
(new boiler within 5 yrs), shop has overhead ideal business opportunity!
INCLUSIONS: heat.
No personal property included, building
is vacant.
•
EXCLUSIONS: None 'REPRESENTATION: All information contained herein
is from sources believed to be reliable. However, J.L.
Sears 8 Associates, Inc. does not warrantor guarantee
SHOWING ARRANGEMENTS: Contact J.L. Sears
said information. All prospective purchasers are en-
office 1 couraged to obtain legal and/or technical guidance.
REMARKS: A former automobile dealership, .
- - -
this property would be ideal for new/used Farms,Water Rights,
autos, repair, or restoration. Additionally, Acreages.Residential Kirk Goble
the open—style construction of the building and Industrial
lends itself to many options regarding use,
ie: office, retail, storage, service, etc. Jai:,
SEARS & ASSOCIATES
IWO, REAL ESTATE
Ft.Lupton Denver Metro Greeley Area
` ) 303/857-2930 • 303/629-0432 - 303/785-2291
140 DENVER AVENUE . FOR LIPTON - COLORADO 80621
940727
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