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Home My WebLink About991927.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1999, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE PETITION OF: IMPERIAL LIVESTOCK SUPPLY (70 WALCO INTER INC 520 S MAIN ST GRAPEVINE, TX 76051 DESCRIPTION OF PROPERTY: ACCOUNT#: R2794186 PARCEL #: 096105223014 - GR 4341 N70' L1 E3LK4 %303 8 AVE% 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 1999, 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 1999, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner not being present or represented, 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, 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: ACTUAL VALUE AS DETERMINED BY ASSESSOR Land $ 5,250 Improvements OR Personal Property 118,150 TOTAL ACTUAL VALUE $ 123,400 991927 AS0043 e0-- ; ,')e+ RE: BOE - IMPERIAL LIVESTOCK SUPPLY 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 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) 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 q Jalified 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. 991927 AS0043 RE: BOE - IMPERIAL LIVESTOCK SUPPLY Page 3 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., 1999. BOARD OF COUNTY COMMISSIONERS G/ ILD ;OUNTY, RADO ATTE (v(/Ul Ain Dale K. Hall, Chair C nyte " Board !' EXCUSED net • Barbara J. Kirkmeyer, Pro-Tem B ` Board .George ter APPRO FORM• 1tGd M. J Geile A taut aunty Attorn 'cacti, ��II .(t) Glenn Vaad 991927 AS0043 • NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR Kit 6 1400 NORTH 17th AVE. GR 43'41 N70' L1 BLK4 1;303 6 AVEoGREELEY,CO 80631 ' PHONE(970)353-3845,EXT.3650 ink COLORADO OWNER: IMPERIAL LIVESTOCK SUPPLY IMPERIAL LIVESTOCK SUPPLY LOG 1015 C/O WALCO INTER INC PARCEL 096105223014 520 S MAIN ST ACCOUNT R2794186 GRAPEVINE, TX 76051 YEAR. 1999 05/24/1999 The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that your property should be included in the following category(ies): COMMERCIAL PROPERTY IS VALUED BY CONSIDERING THE COST, MARKET, 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 determination of value are: NO CHANGE HAS BEEN MADE TO THE VALUATION OF THIS PROPERTY. COLORADO LAW REQUIRES US TO SEND THIS NOTICE OF DEN::AL 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 5250 5250 IMPS 118150 118150 TOTALS $ $ 123400 $ 123400 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. 05/24/1999 By: Stanley F. Sessions WELD COUNTY ASSESSOR DATE 15-DPT-AR Form PR-207-87/99 ADDITIONAL INFORMATION ON REVERSE SIDE 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 EOUALIZATION'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 of the County Board of Equalization's written decision with ONE of the ;'ollowing: 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 TIMELY APPEAL; THEREFORE, WE RECOMMEND ALL CORRESFONDENCE BE MAILED 'WITH PROOF OF MAILING. PETT.[ION 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 DOLLAR AMOUNT. Attach additional documents as necessary. PJ / M P(La✓t M C tJ, we(Lk- Wr 4 Q L Ta - Prta'0c 4-1-7 [a 6✓A n/1-.4r�r; q !J i mat R,c • e) AL44"o 'i IJl✓f3t1 z- 9c 7cgas l/RLt.1. . -;! :> _` 9 Stanley F. Sessions WELD COUNTY ASSESSOR CHRISTOPHER WOODRUFF, DEPUTY ASSESSOR APPRAISAL REPORT OF COMMERCIAL PROPERTY FOR County Board of Equalization IMPERIAL LIVESTOCK SUPPLY PETITIONER vs. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0961-05-2-23-014 Schedule Number: R2794186 Log Number: 1015 Date: August 3, 1999 Time: 3:30 P M Board: CBOE PREPARED BY p\� DAVID SCHILDMEIER &)GN.t.t9 A 031 A n aiveA,� l u`n SA ZA\ C9 Signature Date Signature Date ASSESSOR'S OFFICE STAFF APPRAISER CBOE_COMM_010998 SUBJECT PHOTOGRAPHS i ' i o i R 8� < g � i "h 9 13 ^, '+k F ?� ., 1• . t A"ee` :- ' V� tTy'i,"' _ ' a.4--:2,--4-,•_"a€b y i s b X �'Y sT 1^..a Front view 1 IL }ilt i ,'S: f ,h- r .: ,tin:_ ' sL 1 maw iits., ,,, ii.,:ne 1......" /6 1-4, It YYi}44F• ,fi _ S 4' '. 6 . i ••.,r,:,,,,,:. re... N..n '.Y^r '� .�%�,' n..i , 5 ytR i X d:'kj 'Y ma 'T y 4♦ M ,,: ,:� �vat' J a.. 11 ^yrl � r 4 ' j f{ f' i.4 4 tiP ~wA !h ya,p re i,4* IP_ ell i .� 4'^3 t +i11Y. i 5 N IrYs. + 4� i '¥ Via Y�y " p `` X ii art x t w V e le T Se aN i' it t 44 i sr • ' w ''. �, � a stn e art" ; ' y '' a 4',` 1 Alt be -# IT • r1 a` •' j{ a fi . ' fis t t re �w. Classy Fe 1 10 ar 't,, " � ! » �, } •, {..kt 3 .0« ! , 4 f t 1 dye ,r - SUM'4ARY OF SALIENT FACTS AND CONCLUSIONS Purpose of the Appraisal : Estimate market value June 30 , 1998 Property Rights Appraised: Unencumbered fee simple interests . Property Address : 303 8 Av, Greeley, Colorado Improvement : Retail/Warehouse Land size : 7 , 000 square feet Zoning : C-H Commercial High Density Assessor' s Value: 1999 Land Value : 5, 250 Imps Value : 59, 075 Total Value: 123,400 Highest and Best Use : Present use as a Retail/warehouse Size of Improvements : BLDG YOC 1955 2 , 198 square feet Retail 3 , 710 square feet Whse Total 5 , 908 square feet Year of Construction: 1955 Effective Age : 28 years Remaining Economic Life : 17 years Estimated Land Value : $5 , 250 Estimate of Value : Cost Approach Land Value : 5 , 250 Improvement Value : 118 , 150 Tota__ Value : 123 , 400 Sales Comparison Approach: $123 , 400 Income Approach: $123 , 400 Final Estimate of Value : $123, 400 Date of Value : June 30 , 1998 1 LAND SALES SUMMARY SHEET Sales Sale Date of Contrib. Area Price/ No. Granter/ Grantee Sale Sales In SF SF' Land Zoning Price Subject Imperial Livestock 303 8 Av -- 7, 000 Com Greeley, Co C-H 1 Wi.noco/ Davis Larry 520 8 St 10/95 $46, 000 20, 125 $2 .29 Ind Greeley, Co 1-2 2 Dellenbacn WP/ Automotive Properties 06/98 $65, 000 30, 000 $2 . 17 Ind 707 6 St I-1 Greeley, Co 3 Baney m Wayne/Greeley Urban Renewal 12/94 $95, 000 38, 000 $2 .50 Com 327 11 Av C-H Greeley, Co 4 Thompson Harry/Sunrise Community Health 12/96 $11, 000 4, 750 $2 .32 • Ind I-M 1017 5 Av, Greeley, Co SUBJECT SITE The subject site is a 7, 000 square foot rectangular, level Corner lot located on the West side of Eighth Avenue, just south of where the Burlington Northern Railroad tracks cross Eighth Avenue . The comparable land sales after adjustments for location range from $2 . 09 PSF to $2 . 50 PSF . The mean of the sales is $2 . 26 PSF. The Median is $2 . 23 As a result of the land sales study, a value of $0 . 75 per square foot has been applied to the subject land area or $5, 250 . 2 WELD COUNTY ASSESSOR Account#: R2794186 PROPERTY PROFILE Parcel #: 096105223014 MH Seq#: MH Space: Appr Year: 1999 Levy: 91.113 #of Bldgs: 1 Active On: Tax Dist: 0600 Map#: LEA: GRLY03 InactiveOn: Assign To: DWS Initials: TST Acct Type: Commercial Last Updated: 7/20/99 Owner's Name and Address: Property Address: IMPERIAL LIVESTOCK SUPPLY Street: 303 8 AV I CIO WALCO INTER INC City: GREELEY , 520 S MAIN ST GRAPEVINE TX 76051 Business/Complex: Sales Summary Legal Description GR 4341 N70'L1 BLK4°/x303 8 AVE% Land Valuation Summary Abst Unit of Number Of Value Per Assmt *Assessed Land Type Ag Code Cade Measure Units Unit Actual Value Percent Value 'Commercial 2135 Square Feet 7000 $0.75 $5,250 29.00% $1,523 Land Subtotal: 7000 $5,250.00 $1,520.00 Buildings Valuation Summary Abst Actual Assmt *Assessed Bldg # Property Type Code Occupancy Value Percent Value I 1 Commercial 2212 353 - Retail Store $59,075 0.29 $17,132 1 Commercial 2235 406 -Storage Warehouse $59,075 0.29 $17,132 Improvements Subtotal: $118,150.00 $34,260.00 Total Property Value $123,400 $35,780 *Approximate Assessed Value 3 Monday, August 02, 1999 WELD COUNTY ASSESSOR Account#: R2794186 PROPERTY PROFILE Parcel #: 096105223014 MH Seq#: MH Space: Building#: 1 Condo SF Condo % Land: Condo % Bldg: Landscaping Qual/$ Property Type: Commercial Average $0.00 Quality: Average Nbhd: 101 Occupancy: Storage Warehouse Condition: Average Nbhd Ext: Occupancy: Retail Store Perimeter: 450 Nbhd Adj: 1 Individual Built As Detail Built As: Retail Store Year Built: 1955 Construction Type: C Year Remodeled: HVAC: Forced Air % Remodeled: Interior Finish: Adj Year Blt: 1955 Roof Cover: Effective Age: 43 Built As SF: 2198 Mh Make: #of Baths: Tag Length/Width: X #of Bdrms: Tag Length/Width: X #of Stories: 1 Mh Skirting LE: Story Height: 20 MH Skirting Type: Sprinkler SF: Diameter: Capacity: Height: Built As: Storage Warehouse Year Built: 1955 Construction Type: C Year Remodeled: HVAC: Space Heater % Remodeled: Interior Finish: Adj Year Bit: 1955 Roof Cover: Effective Age: 43 Built As SF: 3710 Mh Make: #of Baths: Tag Length/Width: X #of Bdrms: Tag Length/Width: X #of Stories: 1 Mh Skirting LF: Story Height: 20 MH Skirting Type: Sprinkler SF: Diameter: Capacity: Height: Building Details Bldg #: 1 Cooler 10 x 14 1 $9,300.00 $9,300.00 Monday, August 02, 1999 4 WELD COUNTY ASSESSOR Account#: R2794186 PROPERTY PROFILE Parcel #: 096105223014 MH Seq#: MH Space: Value Details RCN Cost/SF: $47.22 Design Adj %: 0 Func Obs %: 0 Total RCN: $288,276.00 Exterior Adj c1/0: 0 Econ Obs °/0: 0 Phys Depr%: 0.58 Interior Adj %: 0 Other Obs %: 0 i Phys Depr$: 167200 Amateur Adj %: 0 RCNLD$: $121,076.00 RCNLD Cost/SF $20.49 Market/SF: $0.00 5 Monday, August 02, 1999 Account Notes Account#: R2794186 Entry Date Office Note Bldg Category 19950130 A BLDG PERMIT 94120088 12/19/94$1,040 INSTALL OUTSIDE SECURITY LIGHTS. 001 MRKT 19950130 A DS 001 MRKT 19981022 A ZONING CHANGE ORD 57,1998 FROM I-1 TO C-H. APPR 6 Monday,August 02, 1999 b. 07/27/99 PIN:2794186 COMPARATIVE SALES APPROACH NAME: IMPERIAL LIVESTOCK SUPPLY COMP SALE NUMBER SUBJECT 1 2 3 4 PARCEL NO 96105223014 96117315302 96117312026 96106326011 96117113003 ADDRESS 303 8 AV 630 26 ST 2501 7 AV 1916 9 ST 125 23 ST GREELEY GREELEY GREELEY GREELEY GREELEY USE RETAIL/WHSE RETAIL RETAIL RETAIL WHSE SALE DATE 11/0'1/96 12/22/97 03/31/95 10/17/96 SALE PRICE 91,000 120,000 160,000 130,000 ADJ. SALE PRICE 91,000 120,000 160,000 130,000 LAND VALUE 5,250 16,063 17,638 29,906 28,040 BLDG.VALUE 74,937 102,362 130,094 101,960 SIZE SF 5,908 3,080 3,746 5,340 6,000 BLDG PRICE/SQ. FT. 24.33 27.33 24.36 16.99 YEAR BUILT 1955 1953 1951 1961 1970 EFFECTIVE YEAR 1970 1970 1979 1970 1970 ADJUSTMENTS: - BLDG.SIZE@25.00 8 .840 64860 17040 -2300 BUILDING AGE -15000 WHSE INTERIOR FINISH 3710 -26000 -26000 -26000 26000 NET ADJ TO ADJ SALE PRICE 58840 23860 -8960 23700 ADD BLDG VALUE 74937 102362 130094 101960 NET ADJ TO SALE PRICE 133777 126222 121134 125660 ADD SUBJECT LAND 5250 5250 5250 5250 INDICATED VALUE 139027 131472 126384 130910 INDICATED VALUE PSF 23.53 22.25 21.39 22.16 INDICATED MARKET VALUE 5908 X$20.89=123,400 7 WALCO.WK4 COMPARABLE SALE 514 E. PIN#, 3547886 PARCEL #: 096117315002 PRIMARY OCCUPANCY: RETAIL OFFICE: 2ND OCCUPANCY: ADDRESS: 630 26TH ST GARDEN CITY PROJECT: BOOK #: 1575 SALE DATE: 11/01/96 RECEPTION #: 2518862 SALE PRICE: $91,000 ADJ SALE PRICE: GRANTOR: HAROLD COOPER GRANTEE: JUAN & JOSEFINA VILLARREAL YEAR BLT: 1953 EFFECTIVE AGE: 1970 LAND/BLDG RATI 4.17 BLDG SIZE: 3,080 IMPS PRICE/PSF: $24.33 CLASS: C&S SALE PRICE/PSF: $29.55 CONSTRUCTION-QUAL: AVG CASH DOWN: $10,000 WALL HEIGHT: 10 LOAN: NEW STORIES: 1 INTEREST RATE: 9.0% BSMT SIZE: LOAN TERM (YRS) 8 LAND SIZE: 12,850 POINTS PAID: LAND VALUE: 16,063 REMARKS: SUBJECT SALE INCLUDES TWO PARCELS (WOL PARCEL #0961-17-3-15-001 WHICH IS THE ADJACENT LAND PARCEL NORTH OF THE SUBJECT IMPS) COMPARABLE SALE 656 Sxi : j a? y9 F S,gat. „ , , y' s • €E9 k PIN#, 3546686 PARCEL #: 096117312026 PRIMARY OCCUPANCY: RETAIL OFFICE: 2ND OCCUPANCY: ADDRESS: 2501 7 AVE GARDEN CITY , PROJECT: SALE DATE: 12/22/97 BOOK #: 1639 SALE PRICE: $120,000 RECEPTION #: 2586876 ADJ SALE PRICE: GRANTOR: WEIDENKELLER DELPHINE L GRANTEE: FABRICARE LLC YEAR BLT: 1951 EFFECTIVE AGE: 1979 LAND/BLDG RATIO: 2.34 BLDG SIZE: 3,746 IMPS PRICE/PSF: $27.33 CLASS: C SALE PRICE/PSF: $32.03 CONSTRUCTION-QUAL: AVG CASH DOWN: $50,000 WALL HEIGHT: 10 LOAN: NEW STORIES: 1 INTEREST RATE: 8.00% BSMT SIZE: LOAN TERM (YRS): 5 YRS LAND SIZE: 8,775 POINTS PAID: LAND VALUE: 17,638 REMARKS: THE GRANTOR CARRIED THE 1ST MORTGAGE AT TYPICAL MARKET TERMS. tHE GRANTEE ALSO PUCHASED THE F F & E FOR AN EXISTING DRY CLEANERS BUSINESS ON A SEPERATE CONTRACT. COMPARABLE SALE 244 iL . b ;, as �'�i - PIN: 2971986 PARCEL # : 96106326011 OCCUPANCY: RETAIL ADDRESS : 1916-192209 ST PROJECT : GREELEY 0 SALE DATE : 03/31/95 BOOK # : 1485 SALE PRICE : $160 , 000 RECEPTION # : 2432571 ADJ SALE PRICE : GRANTOR: LEO CZAPENSKI GRANTEE : ARTHUR & FLORINDA BAI,ADEZ YEAR BLT: 1961 LAND/BLDG RATIO : 2 . 04 BLDG SIZE : 5 , 340 IMPS PRICE/PSF : $24 . 36 CLASS : C SALE PRICE/PSF : $29 . 96 CONSTRUCTION-QUAL : AVG CASH DOWN: $40 , 000 WALL HEIGHT: 14 LOAN: NEW STORIES : 1 INTEREST RATE : 10 . 00 BSMT SIZE : 0 LOAN TERM (YRS) 5 LAND SIZE : 10 , 875 POINTS PAID : 0 LAND VALUE : 29 , 906 REMARKS : SUBJECT WAS LISTED FOR $175, 000 FOR APPRCX 18 MONTHS WITH NO OFFERS . GRANTEE' S OFFER OF $160 , 000 WAS ACCEPTED WITH OWNER CARRY FINANCING. COMPARABLE SALE 495 I : a. a.�,z °y'�nsc 3 #+art ,, 0. :it%' `.-' --=u s'g X ;p�,uiu�+,il„1!ai71�,�ai 'Ill k-' ' PIN#, 3486286 PARCEL #: 096117113003 PRIMARY OCCUPANCY: STOR WHSE OFFICE: 0.24 2ND OCCUPANCY: ADDRESS: 125 23 ST GREELEY PROJECT: BOOK #: 1572 SALE DATE: 10/17/96 RECEPTION #: 2516176 SALE PRICE: $130,000 ADJ SALE PRICE: GRANTOR: HS RESOURCES GRANTEE: RED NAPE TERCEL YEAR BLT: 1970 EFFECTIVE AGE: 1970 LAND/BLDG RATI 6.23 BLDG SIZE: 6,000 IMPS PRICE/PSF: $16.99 CLASS: S SALE PRICE/PSF: $21.67 CONSTRUCTION-Q AVG CASH DOWN: WALL HEIGHT: 12 LOAN: NEW STORIES: 1 INTEREST RATE: 10.0% BSMT SIZE: LOAN TERM (YRS) 5 LAND SIZE: 37,386 POINTS PAID: LAND VALUE: 28,040 REMARKS: 07/27/99 PROFORMA INCOME WORKSHEET Parcel : 0961-05-2-23-014 Name: Imperial Livestock Supply Prop Address: 303 8 Av Greeley, co Bldg sq ft Use No of Units 5908 retail/whse 1 Effective Tax rate mill raise assm't rate tax rate 0.091113 0.29 0.026423 Annual Fractional rent units rent/month size/bay rent psf owner occupied Avg rent psf Subject Rents Annual Annual gross Area rent psf Income 1 flr rate psf 5908 4.00 23632 Less vacancy & expenses vacancy 10% 2,363 expenses* 25% 5 908 Net income 2.60 15,361 Net Income/overall cap rate=Property value Property Value value per sq ft Cap rate + eff tax rate 0.09 0.0264 0.12 131 ,940 22.33 0.10 0.0264 0.13 121,503 20.57 Total property value $123,400 *owner expenses: ins, maint, mgmt, accting Gross Net Comparable Bldg Year income income rentals Use Address size const'd per sq ft per sq ft revitte retail 806 8 st 2,875 1900 4.59 $3.44 retail 1706 9 st 5,750 1915 $3.75 grly tent retail 2209 9 st 6,723 1948 $4.31 $3.45 WALC INC.WK4 12 Hello