HomeMy WebLinkAbout951560.tiffRESOLUTION
RE: THE BOARD OF EQUALIZATION, 1995, WELD COUNTY, COLORADO
PETITION OF:
WEST GREELEY NATIONAL BANK
P O BOX 1423
GREELEY, CO 80632
DESCRIPTION OF PROPERTY: PIN: R 0078894 PARCEL: 095912104055 - GR 17534E PT
TR A GREELEY PLAZA (PT NE4 12 5 66) BEG N89D54'E 664.44' & SOOD06'E 80' OF NW COR
NE4 N89D54'E 192.99' SOD03'E 423.77' S89D54'W 192.64' NOD06'W 423.77' TO BEG EXC BEG
N4 COR SEC N89D54'E 664.46' (RECORDED 664.44') SOD06'E 80' TO
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:
951560
AS0032
RE: BOE - WEST GREELEY NATIONAL BANK
Page 2
ORIGINAL
Land $ 328,095
Improvements OR
Personal Property 141.905
TOTAL ACTUAL VALUE $ 470.000
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)
951560
AS0032
RE: BOE - WEST 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.
Weld County Clerk to the Board
IC: -
Deputy Clerk' %ph hoard
APPROVED AS TO FORM:
BOARD OF COUNTY COMMISSIONERS
WCOUNTY, COLO6tADO
Dale K. Hall, Chairman
Fxr:I1SFn
Barbafa J. Kirkmeyer, Pr -Tem
iii
George E.Baxter
Constance L. Harbert
ARSTAINFP
W. H. Webster
951560
AS0032
Care
BOE DECISION SHEET
PIN* R 0078894 PARCEL #: 095912104055
WEST GREELEY NATIONAL BANK
P O BOX 1423
GREELEY, CO 80632
HEARING DATE: July 27, 1995 TIME: 11:30 A.M.
HEARING ATTENDED? e}N)
NAME /YnL-ct-". v
AGENT NAME: WEST GREELEY NATIONAL BANK STEVEN D SCHLUCHTER
APPRAISER NAME
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION
ASSESSMENT RATIO
Land
ACTUAL VALUATION
ORIGINAL SET BY BOARD
$ 378,n95 $ _'x''1O96'
Improvements OR
Personal Property 141,905
Total Actual Value $ 470,000
Pit l q°5—
$ Litt() co-°
COMMENTS: MOTION BY ( top TO s
SECONDED BY 4 75
Failed to prove appropriate value
No comparables given
Other:
Baxter -N)
Hall - N)
Harbert - N)
Kirkmeyer
Webster% j4 .
RESOLUTION NO. c51581)
fa61,
Wi�Yc
COLORADO
July 10, 1995
WEST GREELEY NATIONAL BANK
P O BOX 1423
GREELEY, CO 80632
Dear Petitioner(s):
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.: 095912104055 PIN No.: R 0078894
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.
WEST GREELEY NATIONAL BANK - R 0078894
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:
„Laud,/
KiiJnLQe Schuett, Deputy
cc: Warren Lasell, Assessor
WEST GREELEY NATIONAL BANK STEVEN D SCHLUCHTER
COLORADO
NOTICE OF DENIAL
O11-ICH OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
GREELEY, COLORADO 80631
PHONE (970) 353-3845. EXT. 3656
GR 17534E PT TR A GREELEY PLAZA (PT NF.4 12 5 65
BEG N89O54'E 664.44' > SOCDOS5'E 8O4 OF NW COP N-4
N89D544E 192.994 500034E 423.77• S89D54'W
192.64' NODO6'W 423.774 TO BEG EXC BEG N4 CUR SEC
N39O54'E 664.46• (RECORDED 664.44') SOOOS'E 804 TO
2600 W 10 3ST GREELEY
OWNER WEST GREELEY NATIONAL BANK
WEST GREELEY NATIONAL BANK
STEVEN 0 SCHLUCHTER AGENT
TAX PROFILE SERVICES INC
14O1 BLAKE ST #201
OTNVER CO 8O2O2
PARCEL 095912104055
PIN R OO78894
YE AR
LOG
1995
04492
O45/O1/1995
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.
Ar.;PICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OP PRODUCTIVE
CAPACITY OF THE LAND, CAPITALIZED AT A RATE SET BY LAW*
ALL OTHER PROPERTY, INCLUDING VACANT LAND, IS VALUED BY CONSIDERING THE COST,
fi1.1Pf< T, 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 fora 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 CHANGE iHAS BEEN MADE TO THE ACTUAL VALUATION OF THIS PROPERTY.
COLORADO LAW REQUIRES US TO SEND THIS NCTICE OF DENIAL FOR ALL
PROPERTIES ON WHICH WE OO NOT ADJUST THE VALUE.
PROPERTY CLASSIFICATION
LAND
I MPS
PETITIONER'S
ESTIMATE
OF VALUE
ASSESSOR'S VALUATION
ACTUAL VALUE
PRIOR TO REVIEW
328,095
141,905
ACTUAL VALUE
AFTER REVIEW
329,095
141 ,90:5
TOTALS $ $ 470,000 $ 470,000
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 O6/O2/95
WELD COUNTY ASSESSOR DATE
15 -OPT -AR
Form PR -207-87/94
ADDITIONAL INFORMATION ON REVERSE SIDE
a:a
YOU HAVE. .dt"S ✓' ..rte
EAT PROCEDURES:
UNIT IA iAFt6 OE ECUALIZA1 ION
Sheet. P.O. Box 758
y, Colorado 80632
355--4000. Ext. 4225
ON OF HEARING:
the time st BBB,.
,.
COUNTY BOARD OF EQUALIZATION'S tdr. TERAVNJ
The County Board of Equalization must mak:5 derriTun on is u act
Susiness days- The County Board most co Ankle their hearings by August 5.
TAXPAYER RIGHTS FOR FURTHER APPEALS:
it voti are not satisfied with the County fiver d 01
i,npilrtty Board pt Equalization's writt=en devtsierk wuh
follo
Appeals (BAAr):
District Court:
9Iti Avenue and 9th Street, P.O. Box C
Greeley, Colorado 80632
Telephone (970) 356-4000. Ext. 4520
h A quirt U ➢?r
u mu: ;.tile wit' in thirty M.
Arbitration:
WELL) COON ( 7 BOARD OF EQUALIZATION
01b lOth `otteet P.O. Box 758
Csreeiey. tem:>r5du 50532
ti/ 56-4000. La. 4225
you do not receive a determination hum the Co
Assessment Appeals by September 18.
t file r;n at p, e
TO PRESERVE YOUR APPEAL CtctH r., Yost i'rf4T 0HOtIE YOU HAVE: NI
THEREFORE, WE RECOMMEND ALL r BRE NtJENCL
C.R.S!. YOU
Assessor has not recognized sale of vacant property formerly owned
by bank. Assessor has overlooked income approach to value (attached).
A value of $340,000 is respectfully requested.
6 7_•_qs
COUNTY BOARD OF EQUALIZATION
PETITION FOR REVIEW
LD COUi'JTY
r -3 Ai9:39
CLERK
l TIi 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 : 095912104055
Location of Subject Property: 2600 W. 10th Street, Greeley
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 7th day of June, 1995
TAX PROFILE SERVICES INC.
Steven D. Schluchter
1401 Blake Street, Suite 201
Denver CO 80202
Telephone (303) 628-0405
de: S
INCOME
LEASABLE AREA
RENT PER SQUARE FOOT
POTENTIAL GROSS INCOME
VACANCY
EFFECTIVE GROSS INCOME
LESS EXPENSES
NET OPERATING INCOME
OVERALL CAP RATE
ESTIMATE OF VALUE
INCOME ESTIMATE
BANK
4044
$12.00
$48,528
5%
$46,102
35%
$29,966
11.50%
$260,574
$260,574
BASEMENT VALUE $50,000
EXCESS LAND $29,000
TOTAL VALUE ESTIMATE $339,574
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
Conunissioners, 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.
Banc One CL,orad Corporation
City and
State of Colorado
of Denver ) ss.
County
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.)
Witness my hand ,and official s a1.
llt(i'ii- \ ! r,10 -s c
�J Notary Public
My comnussion expires: February 28, 1997
Ce
It
.O.E. a E a HEARING
DATE: July 27, 1995
TIME: 11:30 A.M.
SUBJECT: West Greeley National Bank
ADDRESS: 2600 10 Street, Greeley, CO
PIN#: 0078894
SUBJECT PHOTOGRAPHS
Main Bank Building
View From 10th Street
�e+
Drive -Up Bank and Canopy
1
COMPARABLE LAND SALES
SALE
NO.
GRANTOR/GRANTEE
DATE OF
SALE
SALES
PRICE
AREA IN
SQ FEET
PRICE/
SQ FEET
MISC.
SUBJECT
2600 W 10th ST
Greeley, CO
65,553
$5.00
Corner
l
Village Center Country
Club/First National Bank
4290 W 10th ST
Greeley, CO
09/20/93
$ 300,000
60,010
$5.00
Corner
2
Thomas J/Taco Bell
3501 W 10th ST
Greeley, CO
12/08/92
$ 752,500
58,413
$12.88
Corner
3
Richardson A/Spurlin R.
3600 W 10th ST
Greeley, CO
10/21/93
$230,000
57,035
$4.03
Interior, no 10th
Street access
4
Obmark Properties/
Family Restaurants
3003 W 10th ST
Greeley, CO
12/30/92
$42,500
6,305
$6.74
Corner
5
Lobato J/Fabricius T
1005 39th AVE
04/20/94
$236,250
45,000
$5.25
Interior, not on
10th Street
1 WPFILES\COMMERCL\GRLYWRK BAA
2
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GRE LEY La
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SALE PRICE
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SW TVS WIEIVlIVtIWOD
COMPARABLE SALE #1
PIN: 2290986
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:
PARCEL #: 95912400008
OCCUPANCY: BANK
2300 16TH ST GREELEY
0
10/29/93
$425,000 RECEPTION #:
$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
2357566
7.15
$52.96
$52.96
$425,000
0
0.0;
0
REMARKS: PURCHASE PRLCL FOR BLDG ONLY. LAND OWNED BY
JOHN TODD. GROUND LEASE 17000 PER YR,
8X52 LOFT, FOUR DRIVE -UP DEPOSIT LANES
5
COMPARABLE SALE #2
PIN: 2598386
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:
PARCEL #: 95924100062
OCCUPANCY: BANK
2901 23 AVE GREELEY
0
05/06/94
$262,787
BOOK #:
RECEPTION #:
FIRST FEDERAL SAVINGS BANK OF COLO
FIRSTBANK OF LONGMONT
1979 LAND/BLDG RATIO:
3,388 IMPS PRICE/PSF:
D SALE PRICE/PSF:
AVG CASH DOWN:
10 LOAN:
1 INTEREST RATE:
0 LOAN TERM (YRS):
29,185 POINTS PAID:
120,388
1442
2388809
PURCHASE PRICE ALSO INCLUDED 8X12 ATM BLDG
AND A TWO-LANE DRIVE -UP CANOPY --BOTH WERE
IMMEDIATELY DEMOLISHED BY THE NEW OWNER.
TOTAL PROPERTY WILL BE RENOVATED/MODERNIZED
BY NEW OWNER.
6
8.61
$42.03
$77.56
$0
0
0.0%
0
0
COMPARABLE SALE #3
PIN: 3273186 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:
1503 9 AVE
0
09/06/94
$196,000
$175,00➢
WELD CREDIT UNION
LUNDVALL, ROY
1978
1,888
D
AVG
16
1
1416
13,500
20,250
#:
96108227030
BANK
GREELEY
BOOK #:
RECEPTION #:
LAND/BLDG RATIO:
IMPS PRICE/PSF:
SALE PRICE/PSF:
CASH DOWN:
LOAN:
INTEREST RATE:
LOAN TERM (YRS):
POINTS PAID:
1458
2405666
7.15
$81.97
$92.59
$175,000
0
0.0%
0
0
REMARKS: SELLER TRADED FOR 1.85 AC LAND #0375494
VALUED AT $196,000. SELLER LEASE BACK FOR L1
MONTHS AT $1500/MO LEASOR PAYS INS $500. NET
17,500 OAR 10.00.
7
SALE DATE:
SALE PRICE:
GRANTOR:
GRANTEE:
CONSTRUCTION-QUAL:
PR/SF(IMPS):
PR/SQ FT:
LAND SIZE:
LAND VALUE:
LAND/BLDG RATIO:
COMPARABLE SALE #4
PIN: 0134291 PARCEL
961082210010
OCCUPANCY: BANK
ADDRESS: 822 14 ST
GREELEY
01/02/91
$625,000
BANK OF GREELEY
HOUSEL, JERRY ETAL
0
$68.77
$101.13
70,785
$200,000
11.45
BLDG SIZE:
YEAR BLT:
CLASS: C
WALL HEIGHT:
REMARKS: INCLUDES 4 -BAY DRIVE UP AND STORAGE BLDG
16X16= 256SF APPRAISER VALUE $1,000
NET RENT $12.82 PSF 15 YEAR LEASE
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6,180
1973
10
INCOME APPROACH
BANK LEASES
BANK NAME AND
ADDRESS
BUILDING
AREA
RENTAL
RATE
LEASE
START
CENTRAL BANK
3690 W 10 ST
GREELEY
11,094
14.71 NNN
11/85
BANK OF WINDSOR
1041 MAIN ST
WINDSOR
4,080
15.44 NNN
5/85
BANKOFGREELEY
822 14 ST
GREELEY
6,180
12.82 NNN
12/90
NORLARCO BANK
2545 RESEARCH BLVD
FT COLLINS
4,588
17.00 GROSS
6/88
NORWEST BANK
6500JFK PARKWAY
FT COLLINS
6,500
13.00 NNN
UNKNOWN
FT COLLINS 1ST IND
2701 S COLLEGE AV
FT COLLINS
3,190
11.76 NNN
UNKNOWN
VALLEY NAT'L BANK
I VALLEY CENTER
LOVELAND
7,744
13.11 NNN
UNKNOWN
L\WPFILES\COMMERCL\PROTESTS\GRLYWBK BAA
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INCOME CALCULATION
FIRST FLOOR GROSS AREA
NNN LEASE RATE
INCOME
LESS 5 % MANAGEMENT & RESERVES
NET OPERATING INCOME
OVERALL CAPITALIZATION RATE
INCOME APPROACH VALUE
PLUS EXCESS LAND APPROX. 8,268 S.F. @ 2.00
TOTAL PROPERTY VALUE
ROUNDED TO
SUBJECTS VALUE ESTIMATED BY THE INCOME APPROACH: $475,600
I\WPEILES\COMMERCL\PROTESTS\GRLYWBK BAA
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4,430
12.00
53,160
2,658
50,502
11%
459,109
16,536
475,645
475,600
COST APPROACH
Parcel Number
Property Owner .
Address
City, State, ZIP:
Surveyed by
Date of Survey .
0959-12-1-04-003
West Greeley Nat'l Bank
2600 W. 10TH STREET
GREELEY, CO 80631
S. JANTZ
6/29/95
Occupancy: Bank
Floor Area: 4,430 square feet
Class: Masonry
Cost rank: Average
Cost as of: 6/94
Number of stories: 1.0
Average story height: 12.0 feet
Effective age: 23 years
Heating and Cooling:
Hot & Chilled Water
Other features:
Units
100°%
Cost Total
Basic structure cost
4,430
104.14 461,340
Basement:
Finished Basement
Unfinished Basement
Subtotal
Building Cost New
3,880 65.66
550 17.12
4,430 163.77
254,760
9,416
264,176
725,516
Extras:
3 Pneumatic units @ 9,200
Canopy 1776 sf @ 15
Bldg drive -up 396 sf @ 80
Subtotal
Replacement Cost New
27,600
26,640
31,680
85,920
811,436
Less Depreciation:
Physical
Depreciated Cost
<40.0%>
<324,574>
486,862
Miscellaneous:
Land
Total
328,095
814:957
Rounded to nearest $1,000 815,000
Cost data by MARSHALL and SWIFT
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VALUE INDICATIONS
COST APPROACH:
SALE COMPARISON APPROACH:
INCOME APPROACH:
$ 815,000
$ 664,500
$ 475,600
ASSESSOR'S VALUE (1995) $ 470,000
I\WPFILES\COMMERCLPROTESTS\GRLYWHK. BAA
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