Loading...
HomeMy WebLinkAbout20193008.tiffAugust 6, 2019 Petitioner: VILLAGE VISTA PLAZA INC 3160 VILLAGE VISTA DR UNIT 102 ERIE, CO 80516-2530 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBS ITE: www.weldgov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Agent (if applicable): 1ST NET REAL ESTATE SERVICES, INC 3333 S WADSWORTH BLVD UNIT 200 LAKEWOOD, CO 80227-5170 RE: THE BOARD OF EQUALIZATION 2019, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2019-3008 Appeal 2008224886 Hearing 8/5/2019 Dear Petitioner: On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. §39-8-101 et seq., considered petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2019. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R4859407 Stipulated - Approved Stipulated Value $1,404,000 $1,152,000 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2019, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2019, in addition to any other requirements under law, any petitioner appealing either a valuation of rent -producing commercial real property to the Board of Assessment Appeals pursuant to C.R.S. §39-8-108(1) or a denial of an abatement of taxes pursuant to C.R.S. §39-10-114 shall provide to the County Board of Equalization or to the Board of County Commissioners of the County in the case of an abatement, and not to the Board of Assessment Appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subparagraph (I) of this paragraph (a) within ninety days after the appeal has been filed with the Board of Assessment Appeals. (b)(I) The Assessor, the County Board of Equalization, or the Board of County Commissioners of the County, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the Board of Assessment Appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the County may move the Board of Assessment Appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the County Attorney and shall be accompanied by a certification that the County Assessor or the County Board of Equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the Board of Assessment Appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the Board of Assessment Appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you. The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: (303) 864-7710 Email: baa@state.co.us Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent must pay a fee of $101.25 per appeal. OR 2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(1), the rules of Colorado appellate review and C.R.S. §24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. §39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization that you will pursue arbitration. You and the Board of Equalization will 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 (i.e. Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fess may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please call me at (970) 400-4226. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor August 6, 2019 Agent: 1ST NET REAL ESTATE SERVICES, INC 3333 S WADSWORTH BLVD UNIT 200 LAKEWOOD, CO 80227-5170 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.weldgov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Petitioner: VILLAGE VISTA PLAZA INC 3160 VILLAGE VISTA DR UNIT 102 ERIE, CO 80516-2530 RE: THE BOARD OF EQUALIZATION 2019, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2019-3008 Appeal 2008224886 Hearing 8/5/2019 Dear Petitioner: On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. §39-8-101et seq., considered petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2019. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R4859407 Stipulated - Approved Stipulated Value $1,404,000 $1,152,000 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2019, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2019, in addition to any other requirements under law, any petitioner appealing either a valuation of rent -producing commercial real property to the Board of Assessment Appeals pursuant to C.R.S. §39-8-108(1) or a denial of an abatement of taxes pursuant to C.R.S. §39-10-114 shall provide to the county Board of Equalization or to the Board of County Commissioners of the County in the case of an abatement, and not to the Board of Assessment Appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subparagraph (I) of this paragraph (a) within ninety days after the appeal has been filed with the board of assessment appeals. (b)(I) The Assessor, the County Board of Equalization, or the Board of County Commissioners of the County, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the Board of Assessment Appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the County may move the Board of Assessment Appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the County Attorney and shall be accompanied by a certification that the County Assessor or the County Board of Equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the Board of Assessment Appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the Board of Assessment Appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you. The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: (303) 864-7710 Email: baa@state.co.us OR 2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(1), the rules of Colorado appellate review and C.R.S. §24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. §39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization that you will pursue arbitration. You and the Board of Equalization will 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 (i.e. Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fess may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please call me at (970) 400-4226. Very truly yours, BOARD OF EQUALIZATION az;6,LW��,�� Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R4859407 STIPULATION (As To Tax Year 2019 Actual Value) RE PETITION OF : NAME: ADDRESS: Village Vista Plaza Inc 3160 VILLAGE VISTA DR UNIT 102 ERIE, CO 80516-2530 Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2019 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner (s) and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: ERI 11VR L2 BLK1 VISTA RIDGE #11 3160 VILLAGE VISTA DR, ERIE 2. The subject property is classified as COMMERCIAL property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2019 Total $1,404,000 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2019 actual value for the subject property: Total $1,152,000 5. The valuation, as established above, shall be binding only with respect to tax year2019 6. Brief narrative as to why the reduction was made: Further review of all approaches to value indicated an adjustment. 7. Both parties agree that: 17IThe hearing scheduled before the Board of Equalization on 8/01/2019 at 9:00 am be vacated. nA hearing has not yet been scheduled before the Board of Equalization. 1 300? ASO ASO (03 DATED this 18th day of July , 2019 pan George Dan George Jul 2019) Petitioner(s) or Agent or Attorney Address: 1st Net Real Estate Services Inc. - Dan George 3333 S. Wadsworth Blvd. Suite D-105 Lakewood CO 80227 Telephone: 720-962-5750 Docket Number R4859407 Stip-1.Frm (Assistant) County Attorney for Respondent, Weld County Board of Commissioners Address: 1150 "0" Street P.O. Box 758 Greeley, CO 80632 Telephone:(970) 336-7235 County Assessor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 400-3650 2 R4859407 / Village Vista Plaza Inc Final Audit Report 2019-07-20 Created: 2019-07-18 By: Jason Marini Qmarini@co.weld.co.us) Status: Signed Transaction ID: CBJCHBCAABAARVb4VNttaEpg7aamACr3dzB-NQkQhdjy "R4859407 / Village Vista Plaza Inc" History n Document created by Jason Marini (jmarini@co.weld.co.us) 2019-07-18 - 10:47:56 PM GMT- IP address: 204.133.39.9 �. D• ocument emailed to Jason Marini (jmarini@co.weld.co.us) for approval 2019-07-18 - 10:47:58 PM GMT A4 Document approved by Jason Marini (jmarini@co.weld.co.us) Approval Date: 2019-07-18 - 10:48:09 PM GMT - Time Source: server- IP address: 204.133.39.9 L2 Document emailed to Millie Channell (mchannell@co.weld.co.us) for approval 2019-07-18 - 10:48:11 PM GMT f Email viewed by Millie Channell (mchannell@co.weld.co.us) 2019-07-18 - 10:48:55 PM GMT- IP address: 204.133.39.9 C...;,) Document approved by Millie Channell (mchannell@co.weld.co.us) Approval Date: 2019-07-18 - 10:52:18 PM GMT - Time Source: server- IP address: 204.133.39.9 Document emailed to Brenda Dones (bdones@co.weld.co.us) for signature 2019-07-18 - 10:52:19 PM GMT t Email viewed by Brenda Dones (bdones@co.weld.co.us) 2019-07-18 - 11:05:52 PM GMT- IP address: 204.133.39.9 £ Document e -signed by Brenda Dones (bdones@co.weld.co.us) Signature Date: 2019-07-18 - 11:06:08 PM GMT - Time Source: server- IP address: 204.133.39.9 C+ D• ocument emailed to Dan George (dgeorge@1stnetre.com) for signature 2019-07-18 - 11:06:09 PM GMT E• mail viewed by Dan George (dgeorge@1stnetre.com) 2019-07-19 - 9:58:25 PM GMT- IP address: 173.14.13.241 Wsfe Adobe Sign co Document e -signed by Dan George (dgeorge@lstnetre.com) Signature Date: 2019-07-19 - 10:01:19 PM GMT - Time Source: server- IP address: 173.14.13.241 E-14 Document emailed to Karin McDougal (weld-cboe@weldgov.com) for signature 2019-07-19 - 10:01:21 PM GMT t Email viewed by Karin McDougal (weld-cboe@weldgov.com) 2019-07-19 - 10:01:51 PM GMT- IP address: 204.133.39.9 Document e -signed by Karin McDougal (weld-cboe@weldgov.com) Signature Date: 2019-07-20 - 0:04:15 AM GMT - Time Source: server- IP address: 204.133.39.9 CO Signed document emailed to Dan George (dgeorge@lstnetre.com), Jason Marini Qmarini@co.weld.co.us), Brenda Dones (bdones@co.weld.co.us), Karin McDougal (weld-cboe@weldgov.com), and 2 more 2019-07-20 - 0:04:15 AM GMT Adobe Sign NOTICE OF DETERMINATION RECEIVED Brenda Dones Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 JUL 1 5 2019 WELD COUNTY MMISSIONERS Date of Notice: 6/25/2019 Telephone: (970) 400-3650 Fax: (970) 304-6433 Office Hours: 8:00AM - 5:00PM ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R4859407 2019 3520 ERI 3160 a 11VR VILLAGE L2 BLK1 VISTA VISTA RIDGE DR ERIE #11 4 VILLAGE 3160 ERIE, VILLAGE CO VISTA 80516-2530 VISTA PLAZA DR INC UNIT 102 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION fr ACTUAL VALUE REVIEW PRIOR TO ACTUAL VALUE REVIEW AFTER COMMERCIAL 1,570,826 1,404,000 TOTAL 1,570,826 1,404,000 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: CM03 - After review of your property, we have made adjustments. This was done because of additional information obtained, or provided through the appeal process. 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. The deadline for filing real property appeals is July 15. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. Agent (If Applicable): 1ST NET REAL ESTATE SERVICES, INC 3333 S WADSWORTH BLVD UNIT 200 LAKEWOOD, CO 80227-5170 15-DPT-AR PR 207-08/13 R4859407 2019-3008 ASo tO3 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 25th through August 5th at 1150 O Street. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail, file online, or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 Online: www.co.weld.co.us/appsl/cboe/ To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 10, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.qov/baa telephone number. Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, 39-1-120(3). C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2018? (Your opinion of value in terms of a specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) r� (icy, What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original inst..Iled cost, appraisal, etc. / ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein andany atta ments hereto are true and complete. zipx..c: gnature drcdr, Email Address 726 r- S7Sa Telephone Number 1 Attach letter of authorization signed by property owner. Date 15-DPT-AR PR 207-08/13 R4859407 3160 Village Vista Dr Total Operating Revenue 2018 6,660 Rentable SF @ Operating Expense $ 22 12 Vacancy 2018 2018 Taxes at 8 17 PSF using 7,200 SF and the 2018 value of $1,260,000 and the 161 141 Mill Levey 30% vacancy using rentable SF 1,998 SF = Management 3% Reserve 5% 1,998 SF CAM,Vacant utitlites cost and insurance @ $5 00 Total Expenses Expenses Per SF Net Income from Rental Real Estate Capitalization Rate 2018 Mill Leve 16,242 3,417 5,695 9,990 $ 35,343 $ 531 $ $ $ 113,890 113,890 $ 35,343 $ 78,547 7 50% Effective 7 5% Indicated Property Value $ 1,047,291 2019 County Value $ 1,404,000 6,660 Village Vista Plaza Inc. 3160 Village Vista Dr 6/30/2018 STE S TENANT TERM START LEASE END LEASE SOFT Vac SF %SOFT TOT Annual Monthly CAM Tax Insurance Cam Tax Ins PSF Rent rate Lease type 105 Vista Ridge Cleaners 67 3/1/2012 9/30/2017 1,200 18 02% $ 26 574 00 $ 2,214 50 $ - $ 22 15 NNN 104 Vacant 0 1,200 1 200 18 02% $ - $ - $ - NNN 103 Chateau de Beaute LLC 60 3/1/2016 3/1/2021 1,200 18 02% $ 27,600 00 $ 2,300 00 $ - $ 23 00 NNN 102 Village Vista Wine Spirits Owner Owner 1 180 17 72% $ 24,000 00 $ 2,000 00 $ - $ 20 34 NNN ma Second Chance Baker Inc 33 2/24/2016 11/30/2018 1,080 16 22% $ 24,840 00 $ 2 070 00 $ - $ 23 00 NNN saa Vacant 0 800 800 12 01% $ $ - $ - NNN $ - Comon Area 485 SF Total 6,660 2,000 100 00% $ 103,014 $ 8,585 $ - $ - $ - $ - $ 2212 Total Vacancy 30% Expenses PSF $0 00 $0 00 $0 00 Avg Exp Avg Lease In Study Penn Year End $ 103,014 $ - $ - $ - Year End Total $ 103,014 802 S Public Rd Lafayette, CO 80026 Sale on 8/29/2016 for $1,250,000 ($121.36/SF) - Research Complete 10,300 SF Retail (Strip Center) Building Built in Apr 2006 SOLD IvOtuairq S a,.y suouJia9 S Buyer & Seller Contact Info Recorded Buyer: True Buyer: Pickren LLC Pickren, LLC Michael Dwyer 285 Seminole Dr Boulder, CO 80303 (303) 931-8507 Buyer Type: Individual Buyer Broker: No Buyer Broker on Deal EWnb lenv�11 S EAV 010.43 E Emma St Lafayette Kimback St Waneka Pkwy Pti 3llgnd S r 3 Spai_.lricrlg St C4ty ,^ , Nedra J� M 4 d O0 ,rd_ r inn MIr. 40.1 t2"19 Recorded Seller: True Seller: Seller Type: Listing Broker: Red Rocks Property LLC Hong Yan Hong Yan 410 S Snowmass Cir Superior, CO 80027 (303) 668-6388 Ben Cheang Ben Cheang 2411 W Alameda Ave Denver, CO 80223 (303) 898-6868 Individual No Listing Broker on Deal Transaction Details ID: 3699306 Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Tenancy: Sale Conditions: No. of Tenants: Tenants at time of sale: Financing: Legal Desc: Parcel No: Document No: 08/29/2016 (537 days on market) 90 days $1,250,000 -Confirmed $1,950,000 $121.36 $27.76 16.3% Multi High Vacancy Property Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: 2 Hannas Specialty Foods; Pearls Salon & Spa Down payment of $1,250,000.00 (100.0%) Tract of land NW 1/4 SW 1/4 Section 2 T 1 S, R 69 W of 6th Pm. 1575023-00-026 3540643 Investment Retail - (Strip Center) Built in Apr 2006 Age: 10 10,300 SF 1.03 AC (45,024 SF) Copyrighted report licensed to 1st Net Real Estate Services - 89536. 5/29/2019 Page 1 802 S Public Rd 10,300 SF Retail (Strip Center) Building Built in Apr 2006 (con't) SOLD Sale History: Sold for $1,250,000 ($121.36/SF) on 8/31/2016 Sold for $1,250,000 ($121.36/SF) on 8/29/2016 Transaction Notes Per the seller the property sold after a 3 month escrow period. They were motivated to sell due to the property being 90% vacant at the time of sale and it was difficult to lease out. The new owner is actively listing 8,623 square feet as available. Current Retail Information Property Type: Center: Bldg Status: Owner Type: Zoning: Owner Occupied: Retail - (Strip Center) Built in Apr 2006 Individual Rent/SF/Yr: - CAM: - Street Frontage: Expenses: Parking: 200 feet on Public Rd 106 feet on Spaulding St 2015 Combined Tax/Ops @ $6.40/sf 66 Surface Spaces are available ID: 5010761 GLA: Total Avail: Leased: Bldg Vacant: Land Area: Lot Dimensions: Building FAR: No. of Stores: Location Information 10,300 SF 0 SF 100.0% 0 SF 45,024 SF 0.23 Metro Market: Submarket: County: CBSA: CSA: DMA: Denver Boulder Ret/Boulder Ret Boulder Boulder, CO Denver -Aurora, CO Denver, CO -WY -NE Copyrighted report licensed to 1st Net Real Estate Services - 89536. 5/29/2019 Page 2 2 1557 Denver, Sale 11,872 W on 9/16/2016 SF CO 84th 80260 Retail (Strip Ave for $1,314,592 - Center) Pecos ($110.73/SF) Building Shoppette Built - in 1978 Research Plaza Complete De Pecos SOLD Bell s Roth Park 53 it - ,4 85th Ave W 84th P1 c 3 at t ' • " jt11► M f'il 0 • � • W 84th Ave -- .- = NS Z fier,- O w a ;C e e y " a w a ;r.s<* V it iv itedy, Se ce "fro Mangoldar 500 irk kr42� I oogle Al Map data t2O19 Gocc e Buyer & Seller Contact Info Recorded Buyer: Otterfam LIc Recorded Seller: D Irey 84th & Pecos Lic True Buyer: Crosbie Real Estate Group True Seller: Robert C lrey Rich Otterstetter Robert Irey 2000 S Colorado Blvd 5215 Ridge Trl Denver, CO 80222 Littleton, CO 80123 (303) 398-2111 (303) 798-6504 Buyer Type: Individual Seller Type: Individual Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal Transaction Details ID: 3718041 Sale Date: 09/16/2016 Sale Type: Investment Escrow Length: 90 days Bldg Type: Retail - (Strip Center) Sale Price: $1,314,592 -Confirmed Year Built/Age: Built in 1978 Age: 38 Asking Price: - GLA: 11,872 SF Price/SF: $110.73 Land Area: 0.79 AC (34,626 SF) Price/SF Land Gross: $37.97 Percent Leased: 100.0% Tenancy: Multi Percent Improved: 63.7% Sale Conditions: 1031 Exchange Total Value Assessed: $231,110 in 2015 Improved Value Assessed $147,180 Land Value Assessed: $83,930 Land Assessed/SF: $2.00 No. of Tenants: 4 Tenants at time of sale: Advanced Dental Ctr; California Hair & Barber; Mark E. Kessler; Rent -A -Center Financing: Down payment of $514,592.00 (39.1%) $800,000.00 from AMG National Trust Parcel No: 1719-28-1-00-005 Document No: 0077380 Copyrighted report licensed to 1st Net Real Estate Services - 89536. 3/27/2019 Page 4 1557 11,872 W SF 84th Retail Ave o (Strip Center) Pecos Building Shoppette Built in 1978 Plaza (con't) De Pecos SOLD Sale History: Sold Sold Sold Sold Sold Sold for for on 12/3/2013 on 10/18/2005 on 10/18/2005 on 10/18/2005 $1,314,592 $900,000 ($75.81/SF) ($110.73/SF) Non Non Non -Arms -Arms -Arms on on Length Length Length 7/23/2001 9/16/2016 Transaction Notes The This 8 exchange The wanted Escrow tenants subject consists property to length and and cash property of was 100% 1 was out. was retail not not approximately was listed occupied paid bldg.approximately sold with a commission on at any the 9/16/16 90 time broker days. for of 11,872 on $1,314,592. and sale. the was deal. sf The a and private buyer/agent The situated seller sale. on completed wanted It a .70 was -acre occupied to retire a site. 1031 and by Income Expense Data Expenses - Operating Total - Expenses Expenses Taxes _ $23,872 $23,872 Current Retail Information ID: 663163 Owner Street Property Bldg Owner Rent/SF/Yr: Occupied: Frontage: Expenses: Center: Status: Zoning: Type: Type: CAM: Retail Pecos Built Individual C, No - - 182 2017 Thorton in feet Tax - Shoppette (Strip 1978 on Center) W 84th @ $2.08/sf; Plaza Ave 2011 De Pecos Ops @ $2.86/sf Location Information Lot Building No. Bldg Dimensions: Total `)/0 Land of Leased: Vacant: Stores: GLA: Avail: Area: FAR: 11,872 0 100.0% 0 34,626 - 0.34 6 SF SF SF SF Second Metro Park Submarket: Map(Page): Address: Name: Market: County: CBSA: CSA: DMA: 1557 Pecos Denver Northwest Adams Denver Denver Denver, Pierson W 84th Shoppette -Aurora -Aurora, CO Graphics Ave Ret/Northwest -WY -Lakewood, CO -NE Plaza Corp De 46-G Pecos Ret CO Copyrighted report licensed to 1st Net Real Estate Services - 89536. 3/27/2019 Page 5 1557 W 84th Ave o Pecos Shoppette Plaza De Pecos SOLD 11,872 SF Retail (Strip Center) Building Built in 1978 (con't) Legal Parcel Description: Number: County: 1719-28-1-00-005 - Adams �•----- Plat a - --------- - - - Map: 1557 W 84th Ave - .. - •. __ . _ • _ , i. ,:•' L .•.I s .) :satI 1 I .-•,• , r r, 1�'tR:. 1 d I ' , -i , • �__i • 1 9L' • I.• , •{' . , •1 - • . -I • )4:rat (titer liC,', le-Ca:5( ••: J • , • lir' . ltir6. r .,%. 1• +1 �1+r'� j n •• t` c 4!„ 1 I ] �L 1 i 1 1 ti•_ � L •�t ,r •, Ir. ftil ,t , ... _,.- 1 t' —s t - _ I .L, 1.• ,r1L.. r tii na 01-41. '��•- • iar�,�j• • '• • 'I- L 1, • • l� +cr.,� ' ' �'. '_ • r� • • I1� Fi (Ill • 41 I• I• i! J ' I PI. _I i 1 I•. 'r• r •„ I, it 'r, .+ �' :t , .- • 4 4 •a •I I • • II% • . • r'�...� � •, r. , • •' ;J , 1 .., . • „ 1 i _ _a'_ •,•. 1 •, '� - _ 111 1 ' • .r - III • • _ • • I • •.1►. I '... j • I. ,• •, - , • .. • • • I ' I - ' L • r ) �y■'7� '1 ` . I'. •I aj, ; 1• • • y • • YI f I ,!• I: • : +' ' •`' • I t^.•�f1 • rl�L ' •_me.—• , • —•• ,� k I i..T .. r , • •r ' • i r_.____ 4—'—i. • ' 1i .+ +•••I • • rr'} '7 1•x.1 � �tY f 'l F ti - — • , • • r i •- feel "J I • •, I • ' • Tittered, "'flail 11.. �� C.J r •-.•y �']1 J � i:1 Oh Jl�i' �i L' L1 n I 1t1+ 4 I I —1 - �j •�'-11 1 ,•�1 r 1 tI' . I ••. *hi. •• • , ..P f� • _ a 1 .., • . •. , , ,_! ..• I.• , r I. • L 1 ' / • •J r , . •tl •1t; • 'U I. Jt T^- _ 1� j, it • . .r ... _.. _ •'; ,•''' • r 1 •• liniI i..'ll.: '�_'•• ,''L • • ,.r •. • .I''' ..�,' • - • I .`1• .• , N t_ I I -. •� • If. • l I ,f• • 1 t 'I 'II' i .■ ., • •. h 1• t It • ' / ti • . • • 11 •; . t •, Ir. : L • , t • - - • • • .. U.•• 1 • ; , •.. J !: f• I, : •.:' • 1 •' ` . Jr • . •• • Ii 1 •'• '.: i11'•+ a .' — S. .. r. -pi >4 t. • ,J•L.Ij, .1. • ;•; •I 1 •V . O,N •. ••, , �I ;� ,. , • • • ' 6. • '.• .• % ir • + I ••' • • 1� • +• •• .a • ;�.1,1I, .. r•• -;'. ., I"•: I• .•1 —• •r• I J, l . . i ' ,r!,• ' , • ,• ,r • •J •• •• -'.�:r I . •I• , I •`•.% • I■,, I•t'1•... I� -i. •••• • •i1 . - ••-'••• i; . •• I •1 • I w (. ''. t . T • • ' • r'+ - �i• • • • • ' • ... 11 . . . •. • 1 S =.• - •. CM' I , ..r' ' . ' .I t 1 . C i i• i d,� 1 1' a • ..• • * •.f•►� 14 • T •• :'r: . 1 i • •I • • ..� • Y / • .• I .:;11.1-L,C—'r •.• 4 '! ••.• • .• `, •• i t ,•'•1•• rL. • —,•• . _ y• _ • t - a I "all' . ••• 1•, ,J�. ,,.•• a —. • -'S r .•1• ••',r:, . I,, • • f : r 'r - r.., ' - _ A ", it' •.•1 1 •, •• ■S. •1 • •'t,l' ...a?. I� � ••i '+ . . .. . ., 11 •t. . ` ll'—,•. 'ki , ••.L• / •• • • r1• I�.•rJ. • • r ■ ', ;.• 'r 1 . I. JL,�� ,, _I•S.r�1 y ! • F •• • •• .. '• .'• •• ' ' .�' � , .- I -. r • . • 1 .• f .•• - `/. • ..• • _ �f fr. • r • i it .., rl �• ,.•. J)1t•ti •:r•� •Ii.� .�,.. -� I t. ••• .•• • ••1 • :1 •. : • '. ,• •'I• S1• •�'�••• • 11 - I wt. • J 'IM•i�,�. %1•11.. 11 .I •r 1 •i f 1 r'Sil. •• •�J••Iy F1 r1.• t+fir r.• Ifs,.' ; . • •.-• I�,t.,�',.,f•,•.� , •r 'J r� i, • • •• I �' .• • : .� •i - . •• 1 .:T • . • • /' .r' I' It't .' S J�•ti , • 1 1 ,• • A.•at •.t . • ,r" .r.1l.J j �.,J r •• �"•\ •,} •v \� • ...1.- j -1 • • _Nisi. LI T•fl,— •..j i'' • r•-.. • 1 ' ,r • ''•� •.";t:! 10„,•••••i .. -•.! .' •_' •1' •'-''-•I '•�1'I•ka. f','li; y.. •..r•• . \• • �.1• .. • '•.. „joy f ` • '• _• .IIt: ar, •11 -� , f I • _ , 1- • L '. • �• t I.• .t.•I L, , I• .:•' 1 •., '� .' - •I%IC - • •\ •I T 11 •11.',...1•••• ! .• t t , • r • r.- I • ti .f , .. •, ...r.• • •.y.. -r• •Ple I..j , •1' f, .f `L r- 'd'1 l .1 •a•. rot �l,tilt - t'L ` ),y� ti slc�l'•�;,..•�.y,t'- •'+ I r. '.L,IL ' Ifi1'1 •ti •••f1 Itlr •.•r•I�t 'i I. ::' L _ r 1' . t. 111I '•':i, IL+:I .- M•+ L..; I "_�I C 1 •. • at .. i• a I ,11!. 1•, ,. r• ,• !.h •. I. 1 , '' J,••1 .. 11 t .1 - •1 r •I - .• 14• I' Si, at I•i:•• .''_•r • ,. et • rr : �' i, t; reel ' ! .•�• 1 - 1• • I • ►• I • •' 1 •r •• •t1 f ! • . ' 1 .1116' X. t (1, •I . I ,�1 1 NW r.�J .I t• 4 r• • • • ;_ felts' flit, ..It _ i '"'f _••,•• - 0-1 f .- •• I. ' ►.JI"t.-I 1 .YJ: J.-•• ._. I' , • �„•i•- s. �.,ti: 1, •••1 .5 It" -. .J 'i I..t: t of'L �, . 1, ,:1• _ 1 III. .f lit: , .i ,: r •'sir•• a+ .-.►I lent 1 •, tee'. "evil i . r I�r>< , �J• . kg, ,i.. • • I.1 Y �� il }u.l .a. • '' J • • 1 %,• 1 1 .1 ,' . • • ..••.ani•_ •, ._I I• ,• i f ' J t 0‘.7,016*-.. 1 (,1 ;; t.rr-c1 ,I-.,r..II--,I mg• • 11 Vr� 1 i .'Nis f t• •. ,, 1r �I.. •.• *i - Ift .�j,�r •• _'{��'�-• •^fil1.''JJ .-� ry 'S . I , I 1 , f., . ri • •71rle.art 1�7wa tr ace yam I�.�Tf.. • S r LOt .fjL ii ,. r:r..r l', 1'-.a— •1, ,I.i.•a • r I • • 1• : , y , • ,j� I -=fit•.f_ I•. I . „ �rf•r �Ird' TT 1 1 11.4,ri.. •I.,, r tl�r `5,11.. %.i rI (—r1 _tv'c.1.e, r. IP-! } i Ir- ,1 I ` :•, ' • - '.t -'.'" •1 ' C1: of • • i r • i ��;. `ri`; •� ' i ',• I: 'Ji• I "••• ;I".• '• • i �ll-.'•,' U. ', ..t J... 11 - al ,1J •`�. I .�' • rill: J' � fLI •i� l .. { ill • tr2 .1 oI'•-••11-4.66.4. 1. .1tiJ6r�, •' nil 1 r, �• ,•;a v" •Ig. ii . f;..•. • ,, I• l:r11' ., !e. fJr • • .�- . 1 bit^ It ,. { �, • . !., , ,.. , �•�. ::1' •-r•.,w. . •. °.1 I ., , a. is 1_I . -• 1.: '•:.• / •+',: 3 J. r. :I• • -'�• S rI. f l• LL 17 y', I I. III r . til f 4.1) ,•!•r 1111iiii Is :J.:: .'+ • 4 f e • ••.• I , 1 - ale 1 ''' «• a ti1.r i• ! ' -• :rr� •'+ i S. •. 'tII ' 1 • �' 1 f .d•r ' •M� • - J •'� L 1>� 1�t.• -1 I fit, i.il't?�I 1, :.Js•1 •! 4... • . 1`l.'r 1 • , :Ai I . •. I 1a:•- i • l f� 1 ��1r'•� •r, • 1'• ., `I •y� 1.1 ,• .1).L. •' tai ' '111 . • MI as t ! .I i• .tJ- _ •,• t'••t•� , �.,i•iti.a 7 � .• I J r1#si;!'a il•.�l , •/ • 1• M .,''I I. :a, , • ti ... •. 1 •'i•. 1 1•••fLF' 6II - -� �, • . , .. •. -� t • Lill EaN ! • -p I �1 • {•• ' �• _I 1 t 4'16. 1 • l IIr • 1+-f • r . • 7 .,y •' i.• .I,�• a 1.5 I ' • • �tJ 1 1 ., �'• • 1••'! 1 .II e 1 ill •• Ifr� f I 1 .!-.J:"J,Ji. y' :' 41 I kI1 1 . J •II I 1. r.��t,rtt �, I at... 4 '• .6 rS • rr �. 1 1'� P,I. .J •1k•Y '' 1 . a 8 ri - 1 iLY:• • ` `� :•ts ' I. I Jlrt` II •• ilki r'r . I r j ' ' • I ' . _ s it Y Ie ;' .� ti •t,'•� is :; •.� - .• i: 1.11 `. L •�,• rr ' ► • '• :i r,ifT" 11.1 �. �' , Itl. , .•• r.1"1 r S Y I'*I t'i I • 1� Ir'��•••le • ,I • .. • I • ., , II It; ,• r. iiii I ' I ,. — • :. '• Ir _ •{ . • - ¶1.24., 1) r' 1t •• I,I i , ,II .1 a • I 4 !.,` al ,,I• ' -n IIr' '. I '. •, Ise • •1' • - _ ,• '' ; .r1-••,.. 4 ', ••• I 1 el — -•_ (..el . • 84[b • "1111 t1 '.... • - it • : , 1 •` • ■ I T� ♦ •, I • - • - r1•• •. • i I JAL Ci. ea• .1 1 .. • it ‘•ri Ja..L:i�.. tom I al•• • _ - _'I •._ . •.-• • `••• •••• . I i. ♦ • .. . • . .—. —• • • - • • Copyrighted report licensed to 1st Net Real Estate Services - 89536. 3/27/2019 Page 6 2 12920 Lowell Blvd Broomfield, CO 80020 Sale on 5/31/2017 for $2,000,000 ($177.18/SF) - Research Complete 11,288 SF Retail Storefront (Strip Center) Building Built in 1987, Renov 2014 .......-- ter--;L:1:.;#34:re SOLD /'i Midway Blvd ' i 1 Buyer & Seller Contact Info Park NC \;3,kt' Dr Map cata Recorded Buyer: True Buyer: Buyer Type: Buyer Broker: JNT LLC Jaeyoung Nam Jaeyoung Nam 3350 Challenger Point Dr Loveland, CO 80538 (719) 536-7660 Individual Pinnacle Real Estate Advisors Justin Krieger (303) 962-9558 Recorded Seller: True Seller: Seller Type: Listing Broker: INSAF Llc Fadi Sawaged Fadi Sawaged 4220 W 92nd Ave Westminster, CO 80031 (720) 891-3211 Individual Pinnacle Real Estate Advisors Justin Krieger (303) 962-9558 Transaction Details ID: 3941930 Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Tenancy: Actual Cap Rate: Sale Conditions: Transfer Tax: No. of Tenants: Tenants at time of sale: Financing: Legal Desc: Parcel No: 05/31/2017 (190 days on market) 30 days $2,000,000 -Confirmed $2,000,000 $177.18 $29.24 100.0% Multi 12.05% Soil Contamination Issue $200 Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Percent Improved: Total Value Assessed: Improved Value Assessed Land Value Assessed: Land Assessed/SF: Investment Retail - Storefront (Strip Center) Built in 1987, Renov 2014 Age: 30 11,288 SF 1.57 AC (68,389 SF) 56.4% $1,254,250 in 2016 $706,790 $547,460 $8.00 7 Chico's Mexican Food; Elite Marshall Arts; Fantastik Cuts; Sparky's Smokin' BBQ; The Groom Closet; Westlake Liquors; Yogurt Cup Down payment of $650,000.00 (32.5%) Lot 3, Westlake Village Filing no. 7 of Westlake PUD. 1573-29-3-25-002 Copyrighted report licensed to 1st Net Real Estate Services - 89536. 6/14/2019 Page 4 - 12920 LoWell�BIvd, ',' ', �, ' '�3., „��r; , ,- , tL �� r;, .,-- `� ;,' `_ ; , �, �' -SOLD k i 11,288 SF Retail Storefront (Stnp`Center) Building 'Built in 1987-, Renov 2014 (con',t)_ i ;;; N,•,-- - G - - _ . y , '' _ Document No 0006571 Sale History Sold for $2,000,000 ($177 18/SF) on 5/31/2017 Sold for $780,000 ($69 10/SF) on 4/9/2013 _ -`s �� - `� , �, ` 4 '' Transaction Notes �' i 3,� �I 12920 Lowell Blvd is a multi -tenant retail strip fully occupied at time of sale with established local tenants on triple net leases The asset is on a convenient signalized corner lot with high visibility There is reference to environmental factors in the sale, not confirmed by buyer who was not avilable for comment 12 05 cap rate reflects anticipated lease changes in the largest tenant in 2017 Selller is carrying a loan back from the buyer �'�'r. , : Income`Ezpense Data'rr ' Income Gross Scheduled Income $241,002 + Other Income $67,728 - Vacancy Allowance Effective Gross Income Expenses -Taxes $41,342 —Operating Expenses $27,626 Total Expenses $68,968 Net Income Net Operating Income $241,002 - Debt Service - Capital Expenditure Cash Flow _ , Current Retailinformation,, - ID 905251 Property Type Retail - Storefront (Strip Center) GLA 11,288 SF Center - Total Avail 993 SF Bldg Status Built in 1987, Renov 2014 % Leased 91 2% Owner Type Individual Bldg Vacant 993 SF Zoning B-1-PUD Land Area 68,389 SF Owner Occupied No Lot Dimensions - Building FAR 017 Rent/SF/Yr $21 00 No of Stores - CAM - Street Frontage 327 feet on Lowell Blvd 308 feet on Westlake Dr Expenses 2018 Tax @ $4 02/sf, 2017 Ops @ $2 45/sf Parking 59 Surface Spaces are available Features Bus Line, Pylon Sign, Signage Location Information Metro Market Denver Submarket Northwest Ret/Northwest Ret County Broomfield CBSA Denver -Aurora -Lakewood, CO CSA Denver -Aurora, CO DMA Denver, CO -WY -NE Copyrighted report licensed to 1st Net Real Estate Services - 89536 6/14/2019 Page 5 Parcel Number: Legal Description: County: 1573-29-3-25-002 Broomfield Plat Map: 12920 Lowell Blvd , • • ' n' 117I.t►'-,.�� les • 11'1:111111 elm gaa i::,tv'i. r. 1, _ I '{,'i f3 f • >II.IkJ ' ilitTc" It ii.;6at 1`*s9 I1::iJl::1 11th:!,ati tdsreitbi tivritimi ; Mirky lit;11,11.11` `1 J1,IM ,I, .."11‘1 .,1 ' 1re 4�41Jl.i e•'I sliPNX)1 • 14 I 1;1011'P', ; Iti•714 viotyl , .,. far,: Itt�a�: \lir? 1 s'\rT ►1 � r 1 t • . S. I I 1L'titit t1c..� fr, y WHIP ! S. { \'i"A IM I. I��'h:�11►:fin draft I II I. II'1; i I't1: • -1• lisafoc 1 Copyrighted report licensed to 1st Net Real Estate Services - 89536. 6/14/2019 Page 6 I 3 1630 Main St o Main Street Plaza Longmont, CO 80501 Sale on 4/29/2016 for $1,450,000 ($116.72/SF) - Research Complete 12,423 SF Retail Storefront Retail/Office (Strip Center) Building Built in 1998 SOLD Recorded Buyer: True Buyer: Buyer Type: Buyer Broker: w fbe r r Buyer & Seller Contact Info Paulson Shopping Centers LLC Mark Jae Paulson Mark Paulson 16249 CR 13 Platteville, CO 80651 (720) 988-6001 Individual KW Commercial - Waco Jack Zagunis (254) 751-7900 Recorded Seller: True Seller: Seller Type: Listing Broker: 17th Ae HOLLDA`' 1 L d Milli t.aiaty 9200 E Florida LLC J&B Building Company Steve Peckar 8933 E Union Ave Greenwood Village, CO 80111 (303) 741-6343 Developer/Owner-RGNL J&B Building Company Peter Kapuranis (303) 741-6343 Sale Date: 04/29/2016 Escrow Length: - Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Actual Cap Rate: Sale Conditions: No. of Tenants: Tenants at time of sale: Financing: Parcel No: $1,450,000 -Confirmed $116.72 $48.24 100.0% 7.25% 1031 Exchange Transaction Details Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Percent Improved: Total Value Assessed: Improved Value Assessed Land Value Assessed: Land Assessed/SF: 2 Subway; Tortillade La Frontera Down payment of $0.00 (0.0%) $1,500,000.00 from Colorado East Bank & Trust 1205341-09-012 ID: 3591190 Investment Retail - Storefront Retail/Office (Strip Center) Built in 1998 Age: 18 12,423 SF 0.69 AC (30,056 SF) 70.0% $242,398 in 2015 $169,679 $72,719 $2.00 Copyrighted report licensed to 1st Net Real Estate Services - 89536. 6/14/2019 Page 7 12,423 SF Retail Storefront Retail/Office (Strip Center) Building Built in 1998 (con't) Document No: 3514870 Sale History: Sold for $1,450,000 ($116.72/SF) on 4/29/2016 Sold for $1,725,000 ($138.86/SF) on 1/27/2005 Transaction Notes Mark Paulson, a private owner, acquired the 12,423 square foot retail property located at 1630 Main Street in Longmont. The asset traded for $1,450,000 or about $116.00 per square foot on April 29, 2016. This transaction was part of a 1031 Exchange. The property was fully eased at the time of sale. The capitalization rate at the time of sale was 7.25%. Income Expense Data Expenses Property Type: - Taxes - Operating Expenses Total Expenses $23,170 Current Retail Information Retail - Storefront Retail/Office (Strip Center) Center: Main Street Plaza Bldg Status: Built in 1998 Owner Type: Individual Zoning: C, Longmont Owner Occupied: No Rent/SF/Yr: Withheld CAM: - Street Frontage: Expenses: Parking: Features: Park Name: Metro Market: Submarket: County: CBSA: CSA: DMA: Map(Page): $23,170 GLA: 12,423 SF Total Avail: % Leased: Bldg Vacant: Land Area: Lot Dimensions: Building FAR: No. of Stores: 1,350 SF 89.1% 1,350 SF 30,056 SF 0.41 101 feet on Main St 2018 Tax @ $2.59/sf, 2012 Est Tax @ $1.62/sf; 2012 Est Ops @ $3.79/sf 40 free Surface Spaces are available Bus Line, Pylon Sign, Signage Location Information Main Street Plaza Denver Longmont Ret/Longmont Ret Boulder Boulder, CO Denver -Aurora, CO Denver, CO -WY -NE Pierson Graphics Corp 11-V ID: 967070 Copyrighted report licensed to 1st Net Real Estate Services - 89536. 6/14/2019 Page 8 6785 W120th Ave p Broomfield Marketplace Broomfield, CO 80020 Sale on 7/31/2017 for $1,879,362 ($182.46/SF) - Research Complete (Part of Multi -Property) 10,300 SF Retail Freestanding (Neighborhood Center) Building Built in 1993 SOLD --fsir ei I • Buyer & Seller Contact Info s•1 9tn A Broomfield Community Park is W 120th Ave N 500 :4_3 Map data Recorded Buyer: True Buyer: Broomfield Marketplace Holdings, LLC NexGen Resources Corporation 5251 DTC Pky Greenwood Village, CO 80111 (303) 751-9230 Buyer Type: Developer/Owner-NTL Recorded Seller: True Seller: Listing Broker: Bass/Bodner Living Trust Michele Bodner & Howard Bass Michele Bodner 603 Mountain Laurel Dr Aspen, CO 81611 (970) 920-2277 Raifiel I Bass Raifiel Bass 606 E Hyman Ave Aspen, CO 81611 (970) 925-2811 Legend Partners Chris Wiedenmayer (720) 529-2889 Peter Peluso (720) 529-2984 Sam Zaitz (720) 529-2999 Transaction Details ID: 3973835 Sale Date: 07/31/2017 (263 days on market) Escrow Length: 90 days Sale Price: Asking Price: Price/SF: Price/SF Land Gross: $1,879,362 -Allocated $182.46 $39.58 Percent Leased: 100.0% Tenancy: Multi Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Investment Retail - Freestanding (Neighborhood Center) Built in 1993 Age: 24 10,300 SF 1.09 AC (47,480 SF) Copyrighted report licensed to 1st Net Real Estate Services - 89536. 6/14/2019 J Page 1 10,300 6785 W SF 120th Retail Freestanding Ave s. Broomfield (Neighborhood Marketplace Center) Building Built in 1993 SOLD (con't) No. of Tenants: 2 Tenants at time of sale: Marco's Pizza; O'Reilly Auto Parts Legal Desc: SUBD: SAFEWAY MARKETPLACE FILING 2 REPLAT LOT: 1 SUBD: SAFEWAY MARKETPLACE FILING 2 REPLAT LOT: 3 Transaction Notes The properties were sold for $3,850,000 and a cap rate of 8.58% as confirmed by both the listing broker and the buyer. The buyer received a price reductin because they need to replace the roof. The property between these two buildings is planned to be redeveloped however the final project is uncertain. The buyer said the reason the cap rate was so high was because of the risk of the development in the adjacent property. Income Expense Data Net Income Net Operating Income $330,330 - Debt Service - Capital Expenditure Cash Flow Current Retail Information ID: 7289388 Property Type: Retail - Freestanding (Neighborhood GLA: 10,300 SF Center) Center: Broomfield Marketplace Total Avail: 0 SF Bldg Status: Built in 1993 % Leased: 100.0% Owner Type: Developer/Owner-NTL Bldg Vacant: 0 SF Zoning: B-1-PUD Land Area: 47,480 SF Owner Occupied: No Lot Dimensions: - Building FAR: 0.22 Rent/SF/Yr: - No. of Stores: 11 CAM: - Street Frontage: 65 feet on W 120th Ave (with 1 curb cut) 63 feet on E 1st St 189 feet on Main St (with 1 curb cut) Expenses: 2018 Tax @ $4.35/sf Parking: 55 Surface Spaces are available Location Information Park Name: Broomfield Marketplace Metro Market: Denver Submarket: Northwest Ret/Northwest Ret County: Broomfield CBSA: Denver -Aurora -Lakewood, CO CSA: Denver -Aurora, CO DMA: Denver, CO -WY -NE Copyrighted report licensed to 1st Net Real Estate Services - 89536. 6/14/2019 Page 2 ,a3]s282,1 -'9ga0HE51fl216r HUM anal 899d1t�©�g�+ 1 Net Real Estate SemIcesoInc„ 3333 S Wadsworth BlNd Ste 200 283311 (.0 �i �7, �- "- IMO mu' La.eNwod .vv__/ !I 1,,� �1)-�(-' '5L - t a•. LETTER OF AUTHORITY To Whom It Mac Concern L 6- r ri r�-G uv _ am hes owner, and/ix agent of the oss-fee_ of i e followiroz rte! of business psopert__ ADDRESS 3160 4 ilia e Vista Dr_ P RCVE /ACCOUNT NUMBER COUNTY R4859-1.07 Weld Count I no hereby authorize tar 'Net Real FssPte Sersices, lac_ to represent nr- utter is and to appear oa an cenalf Defoe= Coma) County Board of I :psalizatiioat, Board of Count% Commissioners_ _ the Colorado Board of Assessment Appea s binding arairr rion.. District Court, all Colxndo state courts, and or air. other anenc;, or entity with re.eard. to any and ail maaet{ con,-faiine the valuation and 'mai-4M of the abase mentioned trop -ts l for x y ears '019 and 2020_ The undersigned requests that copies of all decEsiors from an≥ of ie ab o,e entt1es. or an other agency or emir-, in.. ohed pertaining. ;o m3rters of valuation arid: or rd. -Lama for the move-merooed p_ open (s). be mail d to 1st Net Real Estate Services, Inc. 3333 S. Wadsworth Blvd. Suite 200 Lakewood, CO g0127 Phone: (720) 962-5750 Fax: (720) 9962-575(3 1. heral} e Tre.1.ll revoke are, and all pre-. io s authorizations re_ln it so the ?pc -or s ). This autnoaioti shalt r_ +L° as effec: t mil this authoui233ii0ni5 ten*ninuied aia a 1 inen instrument e -tined b_ ?ire mnOerS1aDCL Dared this C ! Cud of CrAva VILLAGE GE VISTA PLAZA_ MC_ Siglaxure �'i4 � 71' f Y� .. C ur-f'i-f Print Name: Tide: Ov.iicr Presiden, C. ALam: 3160 4 ]]:^z l ts~3 Dr_ r _ State Zip_ Erie CO 305ICS Phone: 317-'56-"7-1-O4 73:1. T:_ r_; it oi_ N c51t.o�c.Acfp 1 5a ;i a,).331,1:-.3 +: Is:: __,,____z;+fr-4c1- . t,, . Q ,h(%Z `L� ry ter, h= l-_}cla--prt-. —t ,v- r - U. TL'iiC�a T' nand ard ail:1a] -..:3t. ) '-__:_i� `2" / �!t Compassion .:vpinti Notat} l'uoiic _ ddr s J S Lill -c15 '.,lam ,, r/IL it Orc,S_ -, si''1.4 r:+���3r,, 4,,.:.• fir S u3 an /i ,n().:, <ti ."!' "": C' �. &' OF ,. jc+CJd �` ShZZ7 Hello