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Home My WebLink About971359.tiffRESOLUTION RE: THE BOARD OF EQUALIZATION, 1997, WELD COUNTY, COLORADO -ADJUST VALUE IN PART PETITION OF: TODD JOHN C & TATE M 1910 26TH AVE CT GREELEY, CO 80631-4917 DESCRIPTION OF PROPERTY: PIN: R1291286 PARCEL: 080332000035 - 13854-H PT NW4 32 6 65 BEG AT PT OF INTSEC OF ELY R/W OF UPRR WITH SLY R/W LN OF US 85 GREELEY BY-PASS FROM WHICH PT NW COR BEARS N52D47'W 2152.4' S70D58'E ALONG SLY R/W LN OF US 85 600.9' TO CONCRETE MONUMENT S69D30'E 108' S20D04'E 305.78' S01 D11'W 425.08' N82D05'W 538.34' NLY LONG ELY R/W UPRR ALONG CURVE TO LEFT WHOSE RAD IS 5930' WHOSE HORD BEARS N14D54'W 902.17' TO POB (6R12RR) 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 1997, 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 1997, 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 Improvements OR Personal Property TOTAL ACTUAL VALUE $ 217,800 $ 167,800 584,843 584.843 $ 802,643 $ 752,643 971359 AS0038 RE: BOE - TODD JOHN C & TATE M 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), 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) 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. 971359 AS0038 RE: BOE - TODD JOHN C & TATE M 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 17th day of July, A.D., 1997. ATT Weld BY. ount}(; G1erk:to tti Deputy """ e Board APPROVED AS TO FORM: BOARD OF COUNTY COMMISSIONERS WELQCOUNTY, COLORADO A(AYE) 'George )Baxter, Chair Constance L. Harbed,Pro-Zem t l Dale K. Hall f(AYE) (NAY) 971359 AS0038 TODD JOHN C & TATE M 1910 26TH AVE CT GREELEY, CO 80631-4917 BOE SUMMARY SHEET PIN #: R1291286 PARCEL #: 080332000035 /tP-g2) -, '7' 1�� HEARING DATE: July 17, 1997 TIME: 10:30 a.m. TP _ ARING ATTENDED ?0 ) NAME L� 7:144, AGENT NAME: APPRAISER NAME: 717- '`��"�" /% p i ;;___.-L-) DECISION: Land Improvements OR Personal Property dotal _Asjkau Value ACTUAL VALUATION ORIGINAL SET BY BOARD $? ,800 584,843 $802,643 COMMENTS: MOTION BY 7 TO SECONDED BY_E CT/ Failed to prove appropriate va No comparables given Increase/Decrease in Valua Assessment Ratio Other: /lett, eo'c' RESOLUTION NO.. Hall -- Kirkmeyer -- Webster Harbert - Baxter - 971359 July 9, 1997 CLERK TO THE BOARD PHONE (970) 356-4000 EXT.4218 FAX: (970) 352-0242 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 Parcel No.: 080332000035 PIN No.: R1291286 TODD JOHN C & TATE M 1910 26TH AVE CT GREELEY, CO 80631-4917 Dear Petitioner(s): The Weld County Board of Equalization has set a date of Thursday, July 17, 1997, at or about the hour of 10:30 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. A number of hearings have been scheduled at this time; peitioners will be asked to sign in with the Clerk upon arrival, and cases will be heard on a first come / first heard basis. You have a right to attend this hearing and present evidence to the Board in support of your petition. The Weld County Assessor or his representative will be present. The Board will make its decision on the basis of the record made at said 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, 1997, and mailed to you on or before August 10, 1997. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes, of which you will be allowed 10 minutes for your presentation. 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. TODD JOHN C & TATE M - R1291286 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 onald D. Warden, Clerk to the Board BY: Carol A. Harding Deputy Clerk to the Board cc: Warren Lasell, Assessor COLORADO TODD JOHN C & TATE M 1910 26TH AVE CT NOTICE OF D_ 13854-H PT NW4 32 6 65 BEG AT PT OF INTSEC OF ELY R/W OF UPRR WITH SLY R/W LN OF US 85 GREELEY BY-PASS FROM WHICH PT NW COR BEARS N52D47'W 2152.4' S70D58'E ALONG SLY R/W LN OF US 85 600.9' OWNER: TODD JOHN C & TATE M GREELEY, CO 80631-4917 06/30/1997 n CLEftc TO THE Li LOG PARCEL ACCOUNT YEAR 1562 080332000035 R1291286 1997 OFFICE OF COUNTY ASSESSOR 1400 NORTH 171h AVE. GREELEY, CO 80631 PHONE (970) 353-3845, EXT. 3650 The appraisal value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that your arupchiy aiwuld be included in the following catcgoiy(ics): ALL OTHER PROPERTY, INCLUDING VACANT LAND, 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 determined the valuation(s) assigned to your property. The reasons for this defemination of value are: NO CHANGE HAS BEEN MADE TO THE ACTUAL 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. LAND IMPS PROPERTY CLASSIFICATION PETITIONER'S ESTIMATE OF VALUE ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW 217800 584843 ACTUAL VALUE AFTER REVIEW 217800 584843 TOTALS $ $ anvrd, $ 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: I5-DPT-AR Form PR -20747/94 WARREN L. LASELL WELD COUNTY ASSESSOR 06/30/1997 DATE ADDITIONAL INFORMATION ON REVERSE SIDE C!C:fis YOU HAVE THE RIGHT TO APPEAL THE ASSESSr'R'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 21 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 EOUALIZATION'S DETERMINATION: The County Board of Equalization must make a decision on your appeal and mail you a determination within five business days. 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 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. 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., YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as necessary. The assessors valuation is based on comparables which in reality, are not comparable. Current assessed valuation of $684,843.00 is more than I have invested in the property and is a valuation that should not increase until I find a use for the surplus land around the current warehouse. Because of its location adjoining both a beef slaughter and lamb slaughter plant - potential users are very limited. Jut_ UAIE 3,!997 JOHN C. TODD 2313 17TH STREET GREELEY, CO 80631 July 3, 1997 Weld County Board of Equalization 915 10'" Street P. 0. Box 758 Greeley, Colorado 80632 Dear Sir: RE: Log 1562 Parcel 080332000035 Account 1O291286 Year 1997 I wish to appeal the assessing of the above captioned property from 684,843 to 802,643, an increase of $ 117,800 or 17.2 %. I would appreciate a hearing before this board. Yours very truly, Jb hn C. Todd d T/trg Roc? i33, 1-664-40 C.B.O.E. HEARING DATE: JULY 17, 1997 TIME: 10:30 A M OWNER OF RECORD: JOHN C TODD ADDRESS: 1280 N 7 AVENUE GREELEY CO 80631 PIN #: R1291286 PARCEL #: 0803-32-0-00-035 APPRAISAL DATE AS OF: JUNE 30, 1996 SUMMARY OF SALIENT FACTS AND CONCLUSIONS Purpose of the Appraisal: Estimate market value on June 30,1996 Property Rights Appraised: Unencumbered fee simple interest Property Address: 1280 North 7 Avenue, Greeley, Colorado Improvement: Cold Storage Warehouse Land Size: 435,600 square feet Zoning: Ind Industrial Assessor's Value: 1997 Land Value: $ 217,800 Imps Value: 584,843 Total Value: $ 802,643 Highest and Best Use: Present use as Cold Storage Warehouse Size of Improvements: Warehouse facility Office Compressor room Total Year of Construction: 1987 and 1990 Effective Age: 9 years Remaining Economic Life: 31 years Estimated Land Value: $217,800 Estimate of Values: Cost Approach: Land Value: Improvement Value: Total Value Rounded: $ 217,800 621,237 $ 839,000 Sales Comparison Approach: $ 818,400 Income Approach: $ 815,000 Final Estimate of Value: $802,643 Date of Value: June 30, 1994 25,200 square feet 800 square feet 400 26,400 Ar •0 e. lit I : r . 1 el'ttitrrcrdpr.rtr q..- 'neneF.•5 nlIIt pr.trp .=u • Sq Y.t8. tracrPrfl 009 r4FT•plr err r -r-=1 e :. gr•rt• rite a p- I_ r1' ., -.: rf • cr. a:- e ..,p-r-r:Ctr/ . grq•r. rrr trr II-Ie. i fr. +tl r,Fq :ry-r.F-r rrlrr J: rvr.K :e11^er...tlre'. t 11t& The subject , a refrigeration warehouse containing 26,400 square feet, is leased to Budweiser for storing hops used in the brewing of beer. The building is in very good condition for its age. The floor is dock height except for the compressor room.. The walls are 24 feet high for the warehouse portion containing 25,200 square feet, 8 feet high for the compressor room having 400 square feet and 8 feet high for the office which has 800 square feet.. The walls and roof are insulated steel sandwich panels on a steel framework. The lighting and plumbing is adequate. The northern portion of 10,000 square feet was constructed in 1987 for $284,603. The southern portion of 15,200 square feet constructed in 1990 cost $295,469. We can Index these previous costs to bring them to current (06/96) replacement costs using a multiplier. 1987 costs $284,603 x 1.276 = $363,153 1990 costs $295,469 x 1.145 = $338.312 Total RCN $701,465 The building is located in the northwest corner of 10 acres of land. The property is located south of the US highway 85 bypass, east of the Union Pacific Railroad and north of Monfort lamb packing plant. The land slopes gently from north to south. Along the north edge is a graveled road. Comparable Land Sales SALE NO/ ADDRESS GRANTOR/ GRANTEE SALE DATE SALE PRICE ADJ SALE PRICE AREA SQ FT PRICE/ SQ FT ZONING SUBJECT 080332000035 TODD 435,600 IND 1 080332300003 801N8AV ELLS/ MONFORT 10/19/95 $350,000 $350,000 677,004 0.52 I-1 2 096105216005 113 6 AV COMER/ MORRISON 02/08/96 $57,000 $57,000 112,200 0.51 I-1 3 096108111001 112 13 ST TIEDGEN/ H -M PARTNERS 11/11/94 $142,000 $142,000 154,400 0.92 1-2 4 096117113002 130 22 ST WARREN/ BRANCH 04/24/93 $95,000 $95,000 103,534 0.92 I-2 Land sale 1- This parcel located adjacent to the Cache La Poudre river. The land was purchased to build a parking lot for Monfort Packing employees. Monfort packing is directly east across the US Highway 85. The size of this parcel is 1.55 times larger than the subject which would require an upward adjustment for size and location. Land sale 2- This parcel is located south of the subject parcel and is in the Cache La Poudre flood plain. Buyer purchased this industrial land to build a new building. Due to a poorer location this sale would require an upward adjustment. Land sale 3- This parcel of land is located along US Highway 85 bypass and was purchased to build a new truck dealership for Colorado Kenworth. This parcel would require a downward adjustment for a better location. Land sale 4- This parcel is also located along US Highway 85 bypass. It was purchased to operate a landscape business. Location would also be a downward adjustment. Since all of the comparables, without adjustments, are in excess of $0.50 per square foot or $21,780 per acre we feel this land is not over valued at $21,780 per acre. Therefore the land value is $21,780 x 10 acres = $217,800. r. 080332000035 • SUBJECT 080332300003 801 N8 AV GREELEY 10/19/95 350,000'0.52 Colorado M -teal a ter ® 1996 DeLo 96105216005 1136 AV GREELEY V8/96 5),000 ,80 .51 •r YM Lmco P 096108111001 112 13 ST GREELEY 11/11/94 142,000"A 92 096117113002 130 22 ST GRFFI EY I 04/24/93 95000",592 Parcel Number Property Owner . Address City, State, ZIP: Surveyed by Date of Survey . 080332000035 JOHN C TODD 1280 N 7TH AVE GREELEY, CO DWS 07/15/97 Occupancy: Warehouse, Storage Floor Area: 26,400 square feet Class: Steel Cost rank: Average Cost as of: 4/96 Number of stories: 1.0 Average story height: 24.0 feet Effective age: 9 years Units Cost Total Basic structure cost 26,400 21.51 567,864 Extras: DOCK HIGH FLOOR 26,400 X $1.20 CU FT OF COOLING 604800 X .15 Subtotal Replacement Cost New 31,680 90,720 122,400 690,264 Less Depreciation: Physical and Functional Depreciated Cost <10.0%> <69,026> 621,237 Miscellaneous: Land Total 217,800 839,037 Rounded to nearest $1,000 839,000 Cost data by MARSHALL and SWIFT PIN: 1291286 NAME: JOHN C TODD COMP SALE NUMBER SUBJECT COMPARATIVE SALES APPROACH ADDRESS 1280 N 7 AV GREELEY USE WHSE SALE DATE SALE PRICE ADJ. SALE PRICE LAND VALUE BLDG. VALUE SIZE SF WALL HEIGHT BLDG PRICE/SQ. FT. YEAR BUILT EFFECTIVE YEAR LAND/BLDG RATIO ADJUSTMENTS: 1 2 3 4 527 6 AV 2123 2 AV 3309 EMPIRE 3455 F ST GREELEY GREELEY EVANS GREELEY WHSE WHSE WHSE WHSE 12/31/94 02/28/95 02/04/94 12/16/94 375,000 920,000 405,000 400,000 375,000 920,000 405,000 400,000 87,120 18,525 88,378 47,669 29,737 584,843 356,475 831,622 357,331 370,263 26,400 21,550 38,102 31,275 17,278 24 28 16 16 14 16.54 21.83 11.43 21.43 1987/1990 1967 1970 1984 1982 1990 1975 1985 1984 1982 6.00 1.33 3.09 6.10 3.44 BLDG.SIZE@16.00 BUILDING AGE 77600 -187232 -78000 145952 66800 52000 43000 37000 REFRIGERATION 90000 90000 90000 90000 INGRESS/EGRESS 75000 EXCESS LAND 130680 130680 130680 130680 NET ADJ TO ADJ SALE PRICE 365080 85448 260680 403632 ADD BLDG VALUE 356475 831622 357331 370263 NET ADJ TO SALE PRICE 721555 917070 618011 773895 ADD SUBJECT LAND INDICATED VALUE INDICATED VALUE PSF INDICATED MARKET VALUE 26400 X $31.00= 818400 87120 87120 87120 87120 808675 1004190 705131 861015 30.63 38.04 26.71 32.61 COMPARABLE SALE 152 PIN: 2802986 PARCEL #: 96105301013 OCCUPANCY: ADDRESS: 527 6 AVE PROJECT: SALE DATE: 12/31/94 SALE PRICE: $375,000 ADJ SALE PRICE: GRANTOR: BREWER STEEL CO GRANTEE: BMA ACQUISITION YEAR BLT: 1967 BLDG SIZE: 21,550 CLASS: CONSTRUCTION-QUAL: AVG WALL HEIGHT: 14'/28'/33' STORIES: BSMT SIZE: LAND SIZE: 28,500 LAND VALUE: 18,525 REMARKS: S 0 1 0 MANUFACTURE GREELEY BOOK #: RECEPTION #: LAND/BLDG RATIO: IMPS PRICE/PSF: SALE PRICE/PSF: CASH DOWN: LOAN: INTEREST RATE: LOAN TERM (YRS): POINTS PAID: 1465 2413676 1.32 $16.54 $17.40 $375,000 0 0.0% 0 0 COMPARABLE SALE 190 PIN: 3462386 PARCEL #: 96117102005 ADDRESS: PROJECT: SALE DATE: SALE PRICE: ADJ SALE PRICE: GRANTOR: GRANTEE: YEAR BLT: BLDG SIZE: CLASS: CONSTRUCTION-QUAL: WALL HEIGHT: STORIES: BSMT SIZE: LAND SIZE: LAND VALUE: REMARKS: OCCUPANCY: WHSE/STOR 2123 2 AV 0 02/28/95 $920,000 GREELEY BOOK #: RECEPTION #: 1482 2428458 COUSINS LEASING CO DALE & EVELYN MAJORS 1965/1972 LAND/BLDG RATIO: 3.09 38,102 IMPS PRICE/PSF: $21.84 S SALE PRICE/PSF: $24.16 AVG CASH DOWN: $675 16' & 18' LOAN: ASSUMED 1 INTEREST RATE: 10.0% 0 LOAN TERM (YRS): 30 117,837 POINTS PAID: 0 88,378 SALE WOL PIN #3462286. SALE INCLUDED A TRADE OF 6.45 ACRES OF VACANT LAND ON WEST 10TH & 59 AVE (1031 TAX EXCHANGE). 2 BLDGS: BLDG 1 28,785 SF WHSE (WITH 38,400 CU FT OF COOLING) CLASS S, 16' WH. BLDG 2 9,317 SF WHSE, 18' WH, CLASS S. COMPARABLE SALE 262 PIN: 3884186 PARCEL #: 96120310004 ADDRESS: PROJECT: SALE DATE: SALE PRICE: ADJ SALE PRICE: GRANTOR: GRANTEE: YEAR BLT: BLDG SIZE: CLASS: CONSTRUCTION-QUAL: WALL HEIGHT: STORIES: BSMT SIZE: LAND SIZE: LAND VALUE: REMARKS: OCCUPANCY: 3309 EMPIRE STREET 0 02/04/94 $405,000 R W INDUSTRIES INC EMPIRE VENTURES LLC 1984 31,275 S AVG 16 1 0 190,793 47,669 WHSE/STOR EVANS BOOK #: RECEPTION #: LAND/BLDG RATIO: IMPS PRICE/PSF: SALE PRICE/PSF: CASH DOWN: LOAN: INTEREST RATE: LOAN TERM (YRS): POINTS PAID: NEW 1428 2375550 6.10 $11.43 $12.95 $45,000 8.5% 15 0 GRANTEE (FORMER TENANT) TOOK LEASE OPTION ON PIN #3884186 FOR $375,000 AND ALSO PURCHASED VACANT LAND, PIN #3884286, FOR $30,000. TOTAL SALE PRICE $405,000. COMPARABLE SALE 133 PIN: 0205988 PARCEL #: 80536000053 ADDRESS: PROJECT: SALE DATE: SALE PRICE: ADJ SALE PRICE: GRANTOR: GRANTEE: YEAR BLT: BLDG SIZE: CLASS: D CONSTRUCTION-QUAL: WALL HEIGHT: STORIES: BSMT SIZE: LAND SIZE: LAND VALUE: OCCUPANCY: 3455 F ST 0 12/16/94 $400,000 COWAN, THOMAS J CECIL FARMS 1982 17,278 14 1 0 59,475 29,737 WHSE/STOR GREELEY BOOK #: RECEPTION #: LAND/BLDG RATIO: IMPS PRICE/PSF: SALE PRICE/PSF: CASH DOWN: LOAN: NEW INTEREST RATE: LOAN TERM (YRS): POINTS PAID: 1472 2419695 3.44 $21.43 $23.15 $50,000 REMARKS: FIRST LEVEL 16,190 SF, SECOND LEVEL 1,088 SF. WHSE/STOR 80%, OFFICE 20%. 9.5% 5 1 07/10/97 vacancy expenses PROFORMA INCOME WORKSHEET PIN: 1291286 Name: John C Todd Prop Address: 1280 N 7 Av Greeley Bldg sq ft Use No of Units 26400 whse 1 Tax rate mill rate 0.09151 Effective assm't rate tax rate 0.29 0.026538 Fractional rent units rent/month size/bay unkown/owner refused request for lease Avg rent psf Subject rents Area 1 flr rate psf 26,400 Less vacancy & expenses 10% 10% Annual rent psf 4.10 Net income 3.28 Net Income/overall cap rate=Property value Cap rate + eff tax rate Add excess land Comparable rentals Use Fedr'l express whse Browning/Ferr whse Genr'I heating whse State Farm whse 0.10 0.0265 Bldg Address size 1255 H St 24,590 1925 1 Av 10,670 3808 Carson St 5,000 600 31 St 44,000 Annual rent psf Annual gross Income $108,240 10,824 10.824 $86,592 0.127 Property value 684,317 130 680 $814,997 30.87 Value per sq ft Gross Net Year income income const'd per sq ft per sq ft 1996 $4.39 $3.60 1981 $4.50 $4.27 1985 $2.88 $2.45 1979 $3.24 page 1 Hello