HomeMy WebLinkAbout951563.tiffRESOLUTION
RE: THE BOARD OF EQUALIZATION, 1995, WELD COUNTY, COLORADO
PETITION OF:
GREELEY NATIONAL BANK
P O BOX 1098
GREELEY, CO 80632
DESCRIPTION OF PROPERTY: PIN: R 2810886 PARCEL: 096105315020 - GR 4830 L1 TO
7 BLK44 (ANNEX BLDG) %7TH ST & 8TH AVE%
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 1995, 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 1995, 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 Jeffrey Monroe, Tax Profile Services, 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:
951563
AS0032
j} S I A t es_ c i t o r.k )-c4. p4cti JR (ytti )
RE: BOE - GREELEY NATIONAL BANK
Page 2
ORIGINAL
Land $ 80,500
Improvements OR
Personal Property 169.500
TOTAL ACTUAL VALUE $ 250.000
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
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)
951563
AS0032
RE: BOE - GREELEY NATIONAL BANK
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 3rd day of August, A.D., 1995.
ATTEST:
Weld County Clerk to
BY
Deputy Clec;n�tt�f�Bbard
APPROVED AS TO FORM:
BOARD OF COUNTY COMMISSIONERS
COUNTY, COLORADO
I
Dale K. Hall, Chairman
EXCUSED
Barbara Kirkmeyer, ro-Tem
P7S?v`c.
t�eor c. Baxter nA
er
Constance L. Harbert
ARSTAINFr)
W. H. Webster
951563
AS0032
BOE DECISION SHEET
PIN #: R 2810886 PARCEL #: 096105315020
GREELEY NATIONAL BANK
P O BOX 1098
GREELEY, CO 80632
HEARING DATE: July 27, 1995 TIME: 11:30 A.M.
HEARING ATTENDED? (3/N) NAME S e �j /`74 z--t-c9
AGENT NAME: TAX PROFILE SERVICES INC
APPRAISER NAME
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL SET BY BOARD
Land $ sn,5nn $ go). O
Improvements OR
Personal Property 1sG 500
Total Actual Value $ 250.000
COMMENTS:
MOTION BY ii?TO ,J12-e-7-ux
SECONDED BY O, 7?
Failed to prove appropriate value
No comparables given
Other:
r^q,S-O
$ 5D) CCD
Baxter --L(i'
Hall -- )
Harbert - iN)
Kirkmeyer
Webster --
f'FfN)% u
sstss3
RESOLUTION NO._
414t
VIOc
COLORADO
July 10, 1995
GREELEY NATIONAL BANK
PO BOX 1098
GREELEY, CO 80632
CLERK TO THE BOARD
PHONE (303) 356-4000 EXT.4218
FAX: (303) 352-0242
915 10TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
Parcel No.: 096105315020 PIN No.: R 2810886
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of Thursday, July 27, 1995, at or about the
hour of 11:30 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.
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 10, 1995, and
mailed to you on or before August 16, 1995.
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.
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.
GREELEY NATIONAL BANK - R 2810886
Page 2
Please advise me if you decide not to keep your appointment as scheduled. If you need any
additional information, please call me at your convenience.
Very truly yours,
BOARD OF EQUALIZATION
Donald D. Warden,
Clerk to the Board
BY: jA.-r, /lJQ a.rhl,10 Ui
Kim erlee A. Schuett, Deputy
cc: Warren Lasell, Assessor
TAX PROFILE SERVICES INC
COLORADO
NOTICE OF DENIAL
GR 4830 L1 TO 7 BLK44 (ANNEX BLDG)
%7TH ST C 8TH AVE%
O I� UI COl. V I'Y ASSESSOR
140(1 NORTH 17th AVE.
GREELEY, COLORADO 80631
PHONE (970) 353-3845. EXT. 3656
804 7 ST GREELEY
OWNER GREELEY NATIONAL BANK
TAX PROFILE SERVICES INC PARCEL 046105315020
PIN R 2810886
STEVEN 0 SCHLUCHTER
1401 BLAKE ST #201
DE NVE
CO 80202
05/24/1995
YE AR
LOG
1995
02791
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):
RESIDENTIAL PROPERTY IS VALUED BY CONSIDERING THE MARKET APPROACH.
AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OR PRODUCTIVE
CAPAC IT OF THE LAND, CAPITALIZED AT A RATE SET BY LAW.
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 deter-
mined the valuation(s) assigned to your property. The reasons for this determination of value are:
YOUR PROPERTY HAS BEEN UNIFORMLY VALUED FOLLOWING COLORADO LAW AND
INSTRUCTIONS PUBLISHED BY THE STATE DIVISION OF PROPERTY TAXATION.
YOUR PROTEST OF VALUE HAS BEEN DENIED DUE TO COMPARISON OF OTHER
SIMILAR PROPERTIES WHICH SOLD DURING THE 1993/1994 TIME PERIOD.
THIS COMPARISON SHOWS YOUR ACTUAL PROPERTY VALUE TO BE CORRECT FOR
THAT PERIOD.
PROPERTY CLASSIFICATION
L AND
I MPS
PETITIONER'S
ESTIMATE
OF VALUE
ASSESSOR'S VALUATION
ACTUAL VALUE
PRIOR TO REVIEW
80.500
169,500
ACTUAL VALUE
AFTER REVIEW
80.500
169.500
TOTALS $
$ 250,000$ 250,000
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
WELD COUNTY ASSESSOR
15-DPT-AR
Form PR -207-87/94
05/25/95
ADDITIONAL INFORMATION ON REVERSE SIDE
DATE
APPEAL PROCEDURES:
THEREFORE, WE RECOMMEND ALL CicniiE{
Joe
PETE≤
CRS:. YOU
Tever I.&.s #4s6es}as Tre fe.•V.
tj�(wrC(�
sik+-1‘, Pieta. pit .Pacc17, A
(OU HAVE, THE RICHE .. APPEAL i` E A
f,
V'iLLD CU[INTV BOARD OF EQUALIZATION
915 10th Sheet, P.O. Box 758
Greeley. Colorado 80637
Telephone (9nl) 356-1000. Ext. 422E
NOTIFICATION Or HEARING:
a i he notified of the time and :nip
TY BOARD OF EQUALIZATION'S DETIONLONATODE
dr}ty Bo.rd ot Equalization must make. a del , c' 'a .Three..and ... '' '". deter'
aitation
TAXP,AYER:RLGHTS FOR FURTHER APPEALS:
F"?n d of I•"i ai+. 3t
nfy Boart3 of Eduaiization's.~riftrrn decisa :1 ......OHe ,:
Soarn} of
District Court:
9tii Avenue and 9th Sireel, P.O. Box G
Greeley, Colorado 80632
Telephone (970) 356-40002Ext. 452O,
Arbitration:
WELL) COUNTY HOARD OF EQUALIZATION
915 10th Street, PO.Box 758
Greeley Gciurado 80n32
at">,te 39trtt 356 4000 Ex'.. 4225
t you do not receive a determination horn the Courtly Board of Equalization, you must file an adfitical Dan the Boost of
Assessment Appeals by September 18.
F YOUR APPEAE. 'ist:`si3 #"ts. 'tC�a#.b .r+t3 'l i-'GrOBE. YOU HARE O88O A WARE( APPEAL:
AL:
iU R0TH Pki0OF DA MST stistida
KJ-C 6b0 1
COUNTY BOARD OF EQUALIZATION
PETITION FOR REVIEW
CL
TO THE HONORABLE WELD COUNTY BOARD OF EQUALIZATION= '
Petitioner, Bank One Corporation c/o Tax Profile Services Inc. (TPS Inc.) 1401 Blake Street
Suite 201, Denver, CO 80202, requests review of the County Assessor's Notices of
Determination for the Subject Property (described below) for tax year 1995. Copies of the
Notices of Determination for the Subject Property are attached and incorporated herein by
reference.
DESCRIPTION OF SUBJECT PROPERTY
Schedule Number : 096105315020
Location of Subject Property: 821 8th Street, Bank One Downtown (Annex)
The subject property is referenced in the Statement of Agency, a copy of which is attached hereto
and incorporated herein by reference.
REPRESENTATION
Petitioner requests a hearing before the Board at which petitioner will be represented by the
following registered agent, Tax Profile Services Inc., or legal counsel. (303) 628-0405. (Please
contact petitioner if legal counsel is necessary at the Board of Equalization hearing).
CERTIFICATE OF SERVICE
I certify that I served a copy of this petition, with attachments on the County Assessor by
United States mail on this 2nd day of June, 1995
TAX PROFILE SERVICES INC.
Steven D. Schluchter
1401 Blake Street, Suite 201
Denver CO 80202
Telephone (303) 628-0405
STATEMENT OF AGENCY
Property Owner, Banc One Colorado Corporation, hereby appoints Tax Profile Services,
Inc. (hereinafter "TPS"), as Property Owner's representative in connection with the
valuations for assessment of Property Owner's real and/or personal property which is
contained in Addendum A attached hereto, for each year 1995 through 1996, for taxes
payable the following year (hereinafter "Subject Property").
TPS shall have full authority to review all applicable records relating to the valuation for
assessment of the Subject Property; to negotiate the valuation for assessment of the
Subject Property with the County Assessor, with any representative of the Assessor's
office, or with the County, at an amount which TPS deems appropriate in the
circumstances; and to pursue any statutory remedies which Property Owner may possess
before the County Assessor, County Board of Equalization, County Board of
Commissioners, Board of Assessment Appeals, District Court, Appellate Courts, or in
binding arbitration in the Property Owner's name and in Property Owner's behalf.
This agreement shall remain in effect until revoked in writing by property owner.
State of Colorado
Of Denver ) ss.
The foregoing agreement was acknowledged before me this 5th day of December
1994
by Ted R. Sikora
(if a natural person or persons, insert name(s); if by a person acting in a representative or
official capacity or as attorney -in -fact, insert the name and identify the capacity in which
it is executed; if by an officer of a corporation, insert the name of such officer and
identify the office.)
City and
County
Witness my hand , d official seal. A 0
st_ic
My commission expires:
Notary Public
February 28, 1997
Co
1: \WPFILES\COMMERCLWROTESTS\6NKSO4.95
IS)
O. E. HEARING
DATE:
TIME:
SUBJECT:
ADDRESS:
PIN:
July 27, 1995
11:30 A.M.
Greeley National Bank (Annex)
804 7th Street, Greeley, CO
2810886
SUBJECT PHOTOGRAPHS
Northeast view of Bank Annex
Southeast elevation of drive -up windows
on main building and motor bank building
BANK ANNEX
COMPARABLE LAND SALES
SALE
NO.
GRANTOR/
GRANTEE
DATE OF
SALE
SALES
PRICE
CONTRIB
SALES
PRICE
AREA IN
SQ FEET
PRICE/
SQ FEET
ZONING
SUBJECT
20,125
C-4
1
E KINDER CO/
HAGEMEISTER
03/07/94
85,000
95,994
28,500
3.37
C-4
2
DAVIS & DAVIS/
NORTH CENTRAL
FOOD
05/02/88
250,000
300,000
57,000
5.26
C-4
3
DAVIS ETAL/
BIG D PROPERTY
05/26/87
65,000
95,826
19,000
5.04
C-4
4
GREELEY URBAN
RENEWAL/
COLSON CONST
01/28/86
250,000
76,000
3.29
C-4
1. Special Assessment $10,993.88
2. Demolition and fill cost $50,000
3. Demolition cost $18,000 and Special Assessment $12,826
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Parcel Number : 0961-05-3-15-020
Property Owner : GREELEY NATIONAL BANK
Address : 804 7 STREET
City, State. ZIP: GREELEY, CO, 80631
Surveyed by : D SCHILDMEIER/C JACK
Date of Survey : 6/26/95
Occupancy: 15% Bank, 85% Office
Floor Area: 6,083 square feet
Class: Masonry
Cost rank: Average
Cost as of: 6/94
Number of stories: 1.0
Average story height: 17.0 feet
Effective age: 27 years
Heating and Cooling:
Hot & Chilled Water 100%
Other features:
Mezzanine (1,388 square feet)
Units
Cost Total
Basic structure cost 6,083
88.87 540,596
Basement:
Finished Basement
Building Cost New
5.895
6.083
55.05
142.22
324.519
865,114
Extras:
MINI BANK 324 @ $80 25,920
CANOPY 1930 @ $13.50 26,055
APHALT 6600 @ $1.00 6,600
Subtotal 58,575
Replacement Cost New 923.689
Less Depreciation:
Physical
Depreciated Cost
<40.0%>
<369,475>
554,214
Miscellaneous:
Land 80.500
Total 634.714
Cost data by MARSHALL and SWIFT
SALES COMPS
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J\WPFILES\COFA¢RCL\PROTESTS\BNR804.95
COMPARABLE SALE
313
95915203001
PIN: 2532086 PARCEL #:
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:
OCCUPANCY:
2021 CLUBHOUSE DR
0
04/04/94
$625,000
OFFICE
GREELEY
BOOK #:
RECEPTION #:
NELSON, HALEY, PATTERSON & QUIRK
CLUBHOUSE DRIVE LLC
1962
10,000
D
AVG
10
1
9600
54,000
81,000
LAND/BLDG RATIO:
IMPS PRICE/PSF:
SALE PRICE/PSF:
CASH DOWN:
LOAN:
INTEREST RATE:
LOAN TERM (YRS):
POINTS PAID:
REMARKS: BASEMENT UNFINISHED STORAGE.
WOL 2532186, 2532586.
NEW
1435
2382079
5.40
$54.40
$62.50
$156,250
7.8%
10
0
COMPARABLE SALE
186
95912400008
PIN: 2290986 PARCEL #:
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:
OCCUPANCY: BANK
2300 16TH ST GREELEY
0
10/29/93
$425,000
$422,500
BANK WESTERN
NORWEST BANK GREELEY
1977 LAND/BLDG RATIO:
7,977 IMPS PRICE/PSF:
C SALE PRICE/PSF:
GOOD CASH DOWN:
LOAN:
INTEREST RATE:
LOAN TERM (YRS):
POINTS PAID:
10
1
638
57,064
0
BOOK #: 1409
RECEPTION #: 2357566
7.15
$52.96
$52.96
$425,000
0
0.0%
0
0
REMARKS: PURCHASE PRICE FOR BLDG ONLY. LAND OWNED BY
JOHN TODD. GROUND LEASE 17000 PER YR,
8X52 LOFT, FOUR DRIVE -UP DEPOSIT LANES
COMPARABLE SALE
232
96108203006
PIN: 3237386
ADDRESS:
PROJECT:
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
GRANTOR: BAKER JAMES L
GRANTEE: MILLIKEN ELTON
YEAR BLT: 1920
BLDG SIZE: 7,135
CLASS: C
CONSTRUCTION-QUAL: AVG
WALL HEIGHT:
STORIES:
BSMT SIZE:
LAND SIZE:
LAND VALUE:
REMARKS:
16
1
200
14,300
42,900
PARCEL #:
OCCUPANCY:
1117-1131 8 AVE
0
12/21/93
$300,000
D
OFFICE
GREELEY
BOOK #:
RECEPTION #:
LAND/BLDG RATIO:
IMPS PRICE/PSF:
SALE PRICE/PSF:
CASH DOWN:
LOAN:
INTEREST RATE:
LOAN TERM (YRS):
POINTS PAID:
NEW
1419
2366269
2.00
$36.03
$42.05
$90,000
BLDGS REMODELED 1980. 1117 BLDG 5120 SF 1131
BLDG 2015 SF RENT AT SALE $soo/mo GROSS.
BUYER WANTED 3 HR FIRE RATING ON BLDG WALL
FLOOR ROO'g. PURCHASED TO OPERATE A BUSINESS.
7.0%
10
0
COMPARABLE SALE
1052
PARCEL #: 096105334007
PIN: 2825286
ADDRESS: 1001
SALE DATE:
SALE PRICE:
GRANTOR:
GRANTEE:
CONSTRUCTION-QUAL:
PR/SF(IMPS):
PR/SQ FT:
LAND SIZE:
LAND VALUE:
LAND/BLDG RATIO:
OCCUPANCY:
9
11/08/91
$287,500
RUTH DONALD
1001 INVESTORS
AVG
$52.14
$54.76
9,000
$27,500
0.86
OFFICE
AV GREELEY
BOOK #: 1316
RECEPTION #: 2268806
ADJ SALE PRICE:$575,000
BLDG SIZE:
YEAR BLT:
CLASS: C
WALL HEIGHT:
BSMT SIZE:
10,500
REMARKS: 1/2 INT SALE CONFIRMED SALE W/SELLER 2/92
APPRAISAL DONE BY BUYERS
1955
20
5250
PIN: 2810886
PARCEL: 0961-05-3-15-020
PROPERTY OWNER: Greeley Bank One Annex
ADDRESS: 804 7 Street, Greeley
OCCUPANCY: Office 85% / Bank 15%
QUALITY OF CONSTRUCTION: Average
CONDITION: Average
YEAR OF CONSTRUCTION: 1959
GROSS AREA
RENT PER S.F.
POTENTIAL GROSS INCOME
LESS VACANCY
EFFECTIVE GROSS INCOME
LESS EXPENSES
NET OPERATING INCOME
OVERALL CAP RATE
ESTIMATE OF VALUE
TOTAL ESTIMATE OF VALUE
I \WPFILES\COMMERCLVROTESTSENK804 95
6,083
10.00
60,830
5%
57,788
35%
37,562
.12
313,017
313,000
GREELEY OFFICE RENTAL DATA
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