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Home My WebLink About20143228.tiff PETITION TO STATE BOARD OF ASSESSMENT APPEALS For Office Use Only 1313 Sherman Street,Room 315 Phone: (303)864-7710 Docket No. Denver,Colorado 80203 Fax: (303)864-7719 Fee: Y N Check/Credit Card d Date: November 1O, 2O14 P P Property Owner: RPM PROPERTIES RLLLP RECEIVED Subject Property: 252O S 8th Ave Garden City Street Address City NOV 14 2014 Schedule Number(s): 3545986 Attach separate sheet if necessary WELD COMMISSIONERS N ❑Board of Equalization Appeals the decision of the Weld ®Board of Commissioners Dated: 10/30/14 County Estate Property Tax Administrator This Appeal concerns:❑Valuation ®Refund/Abatement❑Exemption Estate Assessed Tax Year:2013 The subject property is currently classified as: ❑Agricultural ®Commercial ['Exempt ['Industrial ❑Mixed Use ['Natural Resources ❑Oil&Gas ['Personal ❑Possessory ❑Producing ❑Residential Estate Assessed ❑Vacant Land Interest Mines Actual Value assigned to subject property:$343,000.00 Petitioner's estimate of value: $140,000.00 Estimated time for Petitioner to present the appeal: 30 minutes or hours. Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator. Appearance: ❑Petitioner will be present at the hearing ['Petitioner will appear by telephone ®Petitioner will be represented by an agent Petitioner is responsible for raling the Board at 303-866-5880 on ❑Petitioner will be represented by an the scheduled dale and time of hearing(Mountain Time Zone) ❑Petitioner would like to appear by video conference attorney petitioner must contact the Board at 303-866-5680 at least 20 days in advance of the scheduled hearing to confirm availability of video conference equipment If the properly owner is an entity,it must appear under the representation of an attorney licensed in Colorado except as follows. A closely held entity may be represented by an officer of the entity as long as the amount in controversy does not exceed 510,000,excluswe of costs,interest or statutory penalties. A closely held entity can have no more than three owners. See Section 13-1-127.C.R.S. A closely held entity that will be represented by an officer of the entity must provide a letter to the Board with this petition stating that it has no more than three owners and that the tax amount at issue does not exceed$15,000 as of August 7,2013.A trust filing a petition as of August 8.2012 may be represented by a trustee,an attorney or an agent. Filing Fee: ❑ None Petitioner is appearing pro se(self-represented)and has not fled more than two Petitions with the Board of Assessment Appeals during this fiscal year(July 1—June 30). ❑ $33.75 Petitioner is appearing pro se (self-represented) and has filed more than two Petitions with the Board of Assessment Appeals during this fiscal year (July 1—June 30). ❑ $101.25 Petitioner will be represented by an agent or by an attorney. In the space below, please explain why you disagree with the value assigned to the subject property Local Market sales indicate a lower value.Assessor's sales were from different markets(counties)and were not properly adjusted for their significant differences. 20/44 -322e ommu I � CC i. CA , ASSN II�I� AS OOB1 Required attachments to this form: ❑ Assessor's or Property Tax Administrator's Notice of Valuation or Notice of Denial ® Decision of County Board of Equalization, County Board of Commissioners or Property Tax Administrator Attachments required under certain circumstances: ® A notarized Letter of Authorization if an agent will be representing Petitioner ❑ A list of names, last known addresses and telephone numbers of co-owners or parties directly interested in the subject property if applicable. j - Certificate of Servicq I hereby certify that a true and coned copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed,faxed or hand delivered to: 'I, ;: ; , ❑Board of Equalization i , Wen • 0 Board of Commissioners Lamy 0 State Property Tax Administrator at the following address: 1150"O'Street.PO Box 758.Greeley.CO 80632 on 746'19/284}— n i is)t o,y Dare I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed,faxed or hand delivered to all co-owners or parties directly interested in the subject property on 1.4 0122014-- rills/Lo,y Date I hereby certify that four(4)true and correct copies of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed or hand delivered,to the Board of Assessment Appeals at 1313 Sherman Street,Room 315 Denver,CO 80203 on: 3448/2014 II 11)24 O, Date (One copy may be taxed to the Board but the°Veal and two additional copies mat be mailed or hand dMvered.) petitioner's Mailing Address is Required Even if Petitioner is Represented by An Anent or Attorney (Der C.R.S, 39.8.1091 ' nature en1 a Signature of Petitioner Sy 1 � """'h� ! David M Burrup,Elite Property Services Inc. RPM PROPERTIES RLLLP Printed Name Printed Name 6000E Evans Ave Suit _426 3686 STAGE COACH UNIT H Mailing Address Mailing Address Denver.CO 80222 LONGMONT CO 80504 City, State, Zip Code City, State, Zip Code Telephone: Telephone:303-355-5871 Daytime number E-Mail:David(°COPropteryTaxes.com E-Mail: Attorney Reg. No. n/a tt is the Petitioner's responsibility to notify the BM of any change of address. Petitioners are strongly encouraged to read the Instructions and Rules of the Board of Assessment Appeals prior to completing this Petition Form. The Instructions and Rules are available on the Web at www.dola.Col rado.govbaa or may be requested by phone at 303-866-5880 CLERK TO THE BOARD PHONE: (970)336-7215, Ext. 5226 1861 FAX: (970)352-0242 1150 0 STREET ar � P.O. BOX 758 � GREELEY, COLORADO 80632 V crouNTy -r) October 30, 2014 RPM Properties RLiLP 3686 Stagecoach Unit H Longmont, CO 80504 RE: SCHEDULE NUMBER#R3545986 Dear Property Owner: On October 20, 2014, the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied same. Pursuant to Section 39-2-125(f), C.R.S., you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from: Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 In preparation for appealing to the State Board of Assessment Appeals you may also go to the following state link to obtain any further information you may need to proceed, htto://www.dola.state.co.us/baa/index.htm Very truly yours, Q.e a A. Martinez e a A. Martinez Deputy Clerk to the Board cc: Assessor RM/eg RESOLUTION RE: ACTION OF THE BOARD CONCERNING PETITION FOR ABATEMENT OR REFUND OF TAXES-RPM PROPERTIES, RLLLP WHEREAS,the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS,the Board of County Commissioners of Weld County, State of Colorado, at a duly and lawfully called regular meeting held on the 20th day of October, 2014, at which meeting there were present the following members: Chair Douglas Rademacher, and Commissioners Mike Freeman,_William F Garoia,_and.Barbara Kirkmeyer,aaith Commissioner Sean Conway .. -- excused, and WHEREAS, notice of such meeting and an opportunity to be present has been given to the taxpayer and the Assessor of said County, with said Assessor, Christopher Woodruff, being present, and taxpayer, RPM Properties, RLLLP, being represented by David Burrup, Property Tax Adjustment Specialist, Inc.,via telephone conference, and WHEREAS, the Board of County Commissioners has carefully considered the attached petition, and is fully advised in relation thereto. NOW,THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Board concurs with the recommendation of the Assessor and the petition be and hereby is, denied, with an abatement or refund be allowed as follows: CORtiECTION TO ASSESSED ABATEMENT TAX . VALUATION: OR REFUND ... `- YEAR $0.00 $0.00 2013 PETITION FOR ABATEMENT OR REFUND OF TAXES- RPM PROPERTIES, RLLLP PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 20th day of October,A.D., 2014. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ((�� nn__ A ATTEST: (.0 ( } \ \) a)( P /` %� Douglas!Rademacher, hair Weld County Clerk to the Board /r EL4 -r•ara Kirkmeyer, ro-Tem BY: D {y Clerk to the =oar SED P. Conway t1,r iI APP D A RM: \ 4'f eFre= a my Attorney W m F. Garcia Date of signature: 1O/29 2014-3228 AS0087 INTENTIONALLY BLANK ELITE Denver Colorado Springs \\PROPERTY 6000 E.Evans Ave.Suite 1426 PO Box:50827 SERVICES,inc. Denver CO 80222 Colorado Springs CO 80934 Tel:303355587/ Tel:719-594-6440 Property Tax Adjustment Specialist,Inc 800 840 9668 800 840 9668 I Subsidiary I Fax:303 691 8882 Fax:800-694-6983 wwwtopropertyhxes.eom AGENT AUTHORIZATION TO WHOM IT MAY CONCERN: We authorize Property Tax Adjustment Specialists, Inc.,to act as our agent in property assessment matters for the real and personal property listed below. As our agents, Property Tax Adjustment Specialists, Inc. has full authority to handle all matters relative to assessments with your office. This includes, but is not limited to,the inspection of any property record documents, both public and confidential,for real and personal property,the receipt of assessment notices,tax statements,etc. Additionally,they have permission to represent us in any appeal or abatement process. This authorization is valid for the 2015 tax year petition and any previous year's appeal or abatement petitions. Property Owner rrhof Record: RPM PROPERTIES RLLLP Signature /�� 'c L Title ,0.4.f 4t/C r Date If— q—/y Name: Ronold Morrow Phone: (303) 684-8313 Property Address: Tax Schedule or PIN: 2520 .8th Ave Garden City, CO 3545986 yyNnnOTARIZATION This authorization was signed before me on //y2r, t� ,2014 Notaiized by 4.,p�J l. . Y- Gamon [[ My commission expires LESA C.POST r _ State of Notaryof Public I (((/// Colorado 11 My Commission Expires AjiA 15,2016 r •1 PETITION FOR ABATEMENT OR REFUND OF TAXES %/- )-I County:weld Date Received •fit' •r-^ tr. "' - (Use Assessors or Commitate St b Section I: Petitioner, please complete Section I only. Date: 05/28/2014 JUN 02 2 Month Day Year \NEW CO-c• -Y #; Petitioner's Name: RPM PROPERTIES RLLLP -r-1L• • ' a Petitioner's Mailing Address: 3686 STAGE COACH UNIT H Longmont CO 80504 City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R3545986 2520 S 8th Ave Garden City,CO • Petitioner requests an abatement or refund of the appropriate taxes and states that the taxes assessed against the above property for the property tax year 2013 are incorrect for the following reasons: (Briefly describe why the taxes have been levied erroneously or illegally,whether due to erroneous valuation,irregularity in levying, clerical error,or overvaluation. Attach additional sheets if necessary.) RECEIVED Comparable sales indicate a lower value. SEP242014 WELD COUNTY Petitioner's estimate of value: $140,000 (2013 ) COMMISSIONERS Value Year I declare,under penalty of perjury in the second degree,that this petition,together with any accompanying exhibits or statements. has been prepared or examined by me.and to the best of my knowledge, information,and belief, is true, correct,and complete. Daytime Phone Number( Petitioner's Signature By G Daytime Phone Number(303 )355-5871 Agent' 'Letter of agent( a attached when petition is submitted by an agent. If the Board of County Commissioners,pursuant to§39-10-114(1),C.R.S.,or the Property Tax Administrator,pursuant to§39-2-116,C.R.S., denies the petition for refund or abatement of taxes in whole or in part,the Petitioner may appeal to the Board of Assessment Appeals pursuant to the provisions of§39-2-125.C.R.S.,within thirty days of the entry of any such decision.§39-10-114.5(1).C.R.S. Section II: Assessor's Recommendation (For Assessor's Use Only) Tax Year 2O13 Actual Assessed Tax Original 343,000 999, 470 8662.5-4 Corrected 343,000 r9, 470 8662.5-4 Abate/Refund -G-- -6— ❑Assessor recommends approval as outlined above. If the request for abatement is based upon the grounds of overvaluation,no abatement or refund of taxes shall be made if an objection or protest to such valuation has been filed and a Notice of Determination has been mailed to the taxpayer,§39-10-114(1)(a)(I)(D),C.R.S. Tax year: Protest? 0 No ❑Yes (If a protest was filed,please attach a copy of the NOD.) Assessor recommends denial for the following reason(s): R t d &ma / ,� t{\ ^ At`v Assessor's or D my lessor's Sign, y 15-DPT-AR No.920-66/11 2014-3228 ELITE Denver Colorado Springs \\PROPERTY 6000 E.Evans Ave.Suite 1-426 1'O Box:50827 SERVICES,Inc. Denver CO 80222 Colorado Springs CO 80934 Tel:303 355 5871 Tel:719-594-6440 Property Tax Adjustment Specialist, Inc. 800 840 9668 800 840 9668 I Subsidiary I Fax:303 691 8882 Fax:800-694-6983 www.cop ropertvta xes.com Evaluation Summary Tax Year 2013 Name: RPM PROPERTIES RLLLP Situs: 2520 S 8 Av PIN: 3545986 Comments: A search for sales of similar (auto repair, within 20% GBA variance) properties within a 5 mile radius during the Study Period revealed 3 sales that all indicate a lower value: Sale Sale Date Price Prox Address City Lot Size GLA/GBA $/SF Y0C $ 2.57 115 N 8TH 02/21/12 135,000 N AVE GREELEY 21,800 2,401 $56.23 1954 $ 0.58 2132 4TH 07/15/11 245,000 NE AVE GREELEY 18,270 2,700 $90.74 1998 $ 1.11 1830 1ST 05/23/11 425,000 NE AVE GREELEY 27,187 3,264 $130.21 1982 After evaluation of the property, Elite Property Services Inc. recommends a value of $140,000.00. For Questions,Contact: David Al Burrup Daval@COProperoTaxes.com Page I of I ELITE Demer Colorado Springs PROPERTY 6000 E.Frans Ave.Suite 1-426 PO Dos:50821 SERVICES,inc Denver CO 80222 Colorado Springs CO 80934 Td:303 355 5871 Tel:119-5941410 Property Tax Adjustment Specialist, Inc 800 840 9668 800 840 9668 I Subsidiary I Fat:303 691 8882 Fat:800-694-6983 N'on.ruprupert',tasea.com AGENT AUTHORIZATION TO WHOM IT MAY CONCERN: We authorize Property Tax Adjustment Specialists,Inc., to act as our agent in property assessment matters for the real estate property listed below. As our agents,Property Tax AdjLstment Specialists, Inc.has full authority to handle all matters relative to assessments with your office. This includes,but is not limited to,the inspection of any property record documents, both public and confidential,for real estate property,the receipt of assessment notices,tax statements,etc. Additionally,they have permission to represent us in any appeal or abatement process. This authorization is valid for the 2014 tax year petition and any previous year's appeal or abatement petitions. PROPERTY OWNER OF RECORD:_ RPM Properties RLLLP Signature I �� Title It 411er Date 3[ C ( 7-0 144 analA D. t"toYYow 303.684.8313 Name(Printed or Typed) Phone Number PROPERTY ADDRESS&TAX SCHEDULE NUMBER: 8885 Washington St, 0171922400023' 404 Bromley Ln, 057113008006, 3590E 104th Ave 0171913005010 . 13662 Colorado By 0157119301006 4114 E Bromley Ln 0156915201003 Adams County 11071 S Parker Rd R0371114e 10001 S Jordan Rd R0437130, 8665 S Quebec St, R0410766 Douglas County/ R2277503, R2277603, R2278003, R2278103, R3545986, R6940998, R2718604, Weld County 1107 W Main St 38052531106005 Logan County, ELITE Denver Colorado Springs \\PROPERTY 6000 E.Evans Ave.Suite 1-426 PO Box:50827 SERVICES,inc. Denver CO 80222 Colorado Springs CO 80934 Tel:303 355 5871 Tel:719-594-6440 Property Tax Adjustment Specialist, Inc. 800 840 9668 800 840 9668 I Subsidiary I Fax:303 691 8882 Fax:800-694-6983 www.eopropertytaxes.com Err:: Ey r May 29th, 2014 lircc is wec Li To: Weld County Assessor's Office AM 0 2 2014 Ref. 2013 tax year abatements WELQ COUC<ITY F'YiOffert r q_aa..EF'. C4... ≥`„ To Whom It May Concern: Enclosed is the petition for the 2013 tax year. Please contact me for any further information or questions. For additional info: David Burrup Property Taxes Adjustment Specialist, Inc 6000 E Evans Ave, #1-426 Denver CO 80222 Tel: 303-355-5871 Email: David(c COpropertytaxeS.com Thank you. Sincerelyfyi Ciirdy� RE: 2013 Abatement received 6/02/2014 R3545986 RPM Properties RLLLP 2520 8th Ave Greeley, CO 2013 and 2014 Assessors Value $343,000 or$245.00/sf SUBJECT: The subject property consists of a single building 2 bay mini lube service garage.This is the Grease Monkey located at 2520 8th Ave in Greeley. The buildings totals 1,400 sf and was built in 1984. RPM Properties RLLLP is the owner. Elite Property Service Inc is their tax agent and is petitioning for them for a reduction in value for 2013 from $373,000 or$245.00/sf to$140,000 or$100.00/sf.The petitioner has provided 3 comps but they are not mini lubes with national branding.They are small service garages. The owner also has purchased another mini lube in Greeley with a sale date of 1/24/12 for$900,000 or $393.70/sf. Market Approach: Comparable sales support values in the $300/sf range for sales in the data period of 1/1/2011 to 6/30/2012 for 2013 assessment . Cost Approach: Due to the age of the buildings this approach was not used but was considered. Income Approach: Using Realtec's data, the average cap rate for the 2012 and 2013 time period is 8.5%with an 1%vacancy and using lease information from a Grease monkey in Windsor the dollar per sf is$26.14.This calculates to a value of$280,000. Reconciliation: Considering all three approaches to value, it is my recommendation to deny the petitioner. 10/10/2014 CoStar COMPS® A Search Criteria Result List Result Detail GI Select 2820 S 31st Ave 11 .0 '1 '111ln Greeley, CO 80631 - Northern Colorado Ret Submarket Sale Or 8/25/2009 For $656.300 (S129.29/SF) - Research Complete t 076 SF Retail Auto Repair Building 2 of 4 ) Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer Full Throttle Holdings Greeley Recorded Seller Philip K & Grace M Nething True Buyer: Full Throttle Holdings Conifer True Seller Philip K & Grace M Nething Save Survey David Call Philip Nething Add Records Jeffrey Theisen Grace Nething 830 Pine Ridge Rd Remove Record Golden, CO 80403 (303) 225-0854 Comps Search Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal Analytic Search Transaction Details Near same age My Surveys - Much larger than Supporting Dncc Detain( 90K); Loan'�(477K) subject's 1 ,400sf Lookup Comps Update Data Sale Date: 8/25/2009 Sale Ty e: Owner/User Escrow Length: - Bldg Ty : Retail - Auto Repair- Suggestions Sale Price: $656,300 - Confirmed Year Built/Age: Built 1981 Ag_erl8 Asking Price: - GLA: 5,076 SF Support Price/SF: $129.29 Land Area: 0.77 AC (33,541 SF) Price/AC Land Gross: $852,338 ($19.57/SF) Much larger lot Percent Leased: 100.0% Percent Improved : 62.0% Actual Cap Rate: - Total Value Assessed: $76,560 in 2008 Sale Conditions: - Improved Value $47,460 Assessed: Land Value Assessed: $29,100 Land Assessed/AC: $37,792 Financing : Down payment of $65,675 ( 10.0%) $590,625 from Selle Stories: 1 CAM: - Elevators: - Zoning : C-H Parcel No: 095924201041 Document No: 3645054 Transaction Notes On August 25, 2009, Philip and grace Nething sold the 5,076-square-foot retail building located at 2820 S. 31st Ave. in Greeley, CO to Full Throttle Holdings for $656,300. There were no brokers involved in this deal. Mill Levy: 75.261 My Nou s add a note My [Th c c NONE attache file Income Expense Data • .killinab•n- r+a.. :r• • . - Expenses - Taxes $5,763 - Operating Expenses Total Expenses $5,763 Research & Sources CoStar Research : Victor Castillo Al Last Updated : 9/ 15/2009 (866) 398-0015 :.hone (888) 893-3728 .1 updatc ., Publication Date: 9/6/ 2009 Verification Source Doc Inspection Buyer (or rep) http://property2.costar.com/Comps/Detail/Detail.aspx?t=19&id=5347918&inc=1 1 2 10/10/2014 CoStar COMPS® it Search Criteria Result List Result Detail O Select 2470 35th Ave Ct - Mobile Express Lube Non-Market Transaction ***** AKA 2470 35th Ave non-arms len . th transaction P Greeley, CO 80634 - Northern Colorado Ret Submarket Sale Or 1/24/2012 For $900.000 ($393.70/SF) - Research Complete 2 286 SF Retail Auto Repair Building Bought by owner of the Subject. This is a vastly 014 ) Sale Comp Property alytics Tenant l7emoerap superior property and is not comparable to the Results Table Sale Contacts / subject . Print Reports P Recorded Buyer: Rpm Properties Rllp Recorded Seller: Suds City LIc True Buyer. RPM Properties, RLLP True Seller: Lucas M Sullivan Jr Save Survey Ron Morrow Lucas Sullivan Add Records 3686 Stagecoach 5415 W 6th St Longmont, CO 80504 Greeley, CO 80634 Remove Record (303) 684-8313 (970) 356-2687 Buyer Type: Corporate/User Seller Type: Individual Comps Search Buyer Broker: Listing Broker: Cassidy Turley Analytic Search Transaction included Right of 1st Refusal Travis Ackerman 1 970) 267-7720 My Surveys for 2460 35th Ave Ct Lookup Comps Transaction Details ;See Deed 3993658. 13 yrs newer Supporting Docs: Delsa( 102K) Update Data Suggestions Sale Date: 1/24/2012 Sale Type: Owner/User' Escrow Length: - Bldg Type: Retail - Aube Repair Almost twice Support Sale Price: $900,000 - Full Value Year Built/Age: Built 1997,(Age: 15 Asking Price: - Not a market value GLA: 2,286 SF � as large Price/SF: $393.70 Land Area : 0.42 AC ( 18,295 SF) Price/AC Land Gross: $2,142,857 ($49.19/SF) C-5,000sf larger lot Percent Leased: 100.0°% Percent Improved: 76.8% Actual Cap Rate: - Total Value Assessed: $159, 100 in 2011 Sale Conditions: - Improved Value $122,220 Assessed: Land Value Assessed: $36,880 3 Bays vs subject's 2 bays Land Assessed/AC: $87,809 Stories: 1 CAM: - Elevators: - Zoning: C Parcel No: 095914403009 Document No: 3821915 Transaction Notes The parties Involved could not be reached for more InforAccording to public records, 2470 35th Avenue was sold on January 24th 2012 for $900,000. Travis Ackerman, at Cassidy Turley Fuller Real Estate, represented the seller. The sale was for a 2,286 retail building which was used as a auto shop at the time of sale. My Notes: - am : nnya My Docs : NONE a•tach ,, rde Income Expense Data Tamaismaistirsesa Expenses - Taxes $12,214 - Operating Expenses Total Expenses $12,214 Research & Sources CoStar Research: Brian Chase J Last Updated: 3/7/2012 (866) 398-0048 "one update data (877) 267-0978 Publication Date: 2/ 13/2012 Verification Sources: Doc Inspection Comp 1O: 2259112 http://property2.costar.com/Comps/Detail/Detail.aspx?ID=5347918&Results=0 1/2 !R6844297 II Property Profile L� i r P p Account: R6844297 - I r r , • N October 10. 2014 A5-cb_unt. 9S. Document History --. __ Sketch NOV Prt Account Parcel Space Acoaxt Type Tax Year Tax Area Buildings Actual Value Assessed Value 86844297 095914403008 Comrneraal 2014 0600 1 340.000 98.600 Reception Rec Date Type Grantor Grantee Doc Fee Sate Date Sate Pnce 2520992 111161996 WDN RIMFRE INC BORCH£RS RILEY L & KATHRYN C& 000 1025+1996 ; 0 2523864 12°0&1996 ! WDN BORCHERS RILEY L 8 KATHRYN C 8 CHAMPION K&K ENTERPRISES LLC 000' 08 17 199E 0 2941491 04/10/2002 WD CHAMPION KaK ENTERPRISES LLC SUDS CITY LLC 98 50 03.282002 985,000 RPt►t PROPERTIES RLLLP SUDS CITY LLC 3993661 02/0312014 WD SUDS CITY LLC GREELEY GAR WASHES LLG 13000 01/362014 1.300,000 1 _ RPM & Suds have business relationship of some sort. RPM purchase from Suds of 2470 35th Ave Ct was non-market transaction . Does not reflect market value. • r I � I i I Iii 10/10/2014 CoStar COMPS® S Search Criteria Result List Result Detail t2 Select 2410 W 6th St f/n/a 2424 6th Ave Dissimilar Greeley, CO 80634 - Northern Colorado Ret Submarket Sale Or 1/18/2008 For $300.000 (S59.48/SF) - Research Complete Property 5.044 SF Retail Auto Repair Building ( 3 of 4 ) Sale Comp Property Analytics Tenant Demographics COniacts Map Results Table Sale Contacts Print Reports Recorded Buyer: Aam Investments LIc Recorded Seller: William H & Caren S Forsythe 2420 6th Ave 3033 W Fifth St Save Survey Greeley, CO 80631 Greeley, CO 80634 Add Records Buyer Contact: Michael Morris (970) 352-3814 Buyer Broker: Listing Broker: Remove Record Transaction Details Comps Search -- — -- - Analytic Search Supporting Docs: Warranty Deed'®(74K ); Deed of Trust(338K) My Surveys - - - — - -- 1_oider -- Sale Date: 1/ 18/2008 Sale Type: Investment ,OR Owner/User Lookup Comps Escrow Length: - Bldg Type: Retail - Autp Repair Sale Price: $300,000 - Full Value Year Built/Age: Built 1963 }Age: 45 Update Data Asking Price: - GLA: 5,044 SF Price/SF: $59.48 and Area: 1.26 AC (54,999 SF) Suggestions Price/AC Land Gross: $237,605 ($5.45/SF) Vastly larger lot Support Percent Leased: - Vastly larger GLA vs Percent Improved: 57.7% 'than subject's Actual Cap Rate: - gTotal Value Assessed: $47,230 Transfer Tax: $30 subject's 1 ,400sf Improved Value $27,270 131 500s Sale Conditions: - Assessed: Land Value Assessed: $19,960 Land Assessed/AC: $15,808 Financing: Down payment of $1,000 (0.3%) $299,000 from Private Lende Stories: - CAM: - Elevators: - Zoning: IM, Greeley Legal Desc: Por Lots 4-7, Por Lot20, All Lot21 Greeley Parcel No: 96117405023 Document No: 3530072 Transaction Notes The information shown is unverified, and strictly from the public record. Additional Buyer Contact: Debra J Foster Mill Levy: 75.561 WELD COUNTY Colorado IN 1 a :� I dr At a.« r-Nra. std —.se .-�r -a 3 t at— ar • tiarir :'Ir�� 'vita► ,� II Mr. ♦ f dsi Tr , " n I I 4- •To ' tom! ► i 'I . ' »4 • 3. I _ r -y '0444- to it ttrliii • '0w— ' f - " - _ _ - _ - ' allnras lit IM a / ii....,_ , •. I II r i r ..,.v. - r • ' r•� -- �.�r�\ .• la a +! L a , �, . .. AA •A" 10/10/2014 CoStar COMPS® AI Lookup Result List ,��estlt M / ■ Select 2132 4th Ave - Greeley Auto Clinic . -** , Greeley. CO 80631 - Northern Colorado Ret Submarket I Sale On 7/1512011 For 5245.000 (590, 74/SF) - Research Complete 2,700 SF Retail Auto Repair Building ( 8 of 10 > Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: Ronald M & Gayle F Greene Recorded Seller: Chris King & Jason Rothe True Buyer: Ronald M & Gayle F Greene True Seller: First Team Real Estate Save Survey Ronald Greene Chris King Add Records 510 Denver Ave 1019 37th Ave Ct, Suite 3 Fort Lupton, CO 80621 Greeley, CO 80634 Remove Record (970) 378-9090 (970) 396-1156 Buyer Type: Individual Seller Type: Corporate/User Comps Search Buyer Broker: REFCO Realty, Inc. Listing Broker: First Team Real Estate Analytic Search Roy Friesen Chris King (970) 339-8543 (970) 396-1156 My Surveys Lookup Comps Transaction Details Newer Supporting Docs: DE.e ( 53K) Update Data Suggestions Sale Date: 7/ 15/2011 (428 days on market) Sale Type : Owner/Us Escrow Length : 240 days Bldg Type r Retail - Au,p Repair Support Sale Price: $245,000 - Confirmed Year Built/Age Built 1998 Age: 13 Asking Price: $279,900 GLA 2,700 SF Price/SF: $90.74 Land Are . 0.42 AC ( 18,269 SF) Price/AC Land Gross: $584,168 ($13.41/SF) ~5,000sf larger lot Percent Leased : - Almost double GBA Actual Cap Rate : - Sale Conditions: Exercise of Option Financing : Down payment of $245,000 (100.0%) Stories: 1 Superior 3 Garage Bays CAM : - Elevators: - p 9Zoning: I-L Legal Desc: GR G-991 L9-10BLK6 ALTA VISTA Parcel No : 096117103007 Document No: 3780223 Sale History: Sold for $380,000 ($140.74/SF) on 2/10/2006 Sold for $245,000 ($90.74/SF) on 7/15/2011 Sold for $2504000 ($92.59/SF) on 5/10/2013 Transaction Notes The brokers and seller confirmed that the property at 2132 4th Avenue was sold on July 26th 2011 for $245,000. Chris King, of First Real Estate, represented himself during the transaction. Roy Frieser, of REVCO, represented the buyer. -Sale reflects rice established Jan 2011 The 2,700 square foot auto shop wa rented for 6 months with an option to buy]The new owner took the option and bought it two months after the e oerrratlon or me tease. i ne property nap oeen on the market for about 6 months and under escrow for 8 months. The buyer will be using the property themselves. My Notes: add a note i., My Docs: NONE ! attach a file Income Expense Data nisigaseassissaisistaisi. FY 2011 Expenses - Taxes $5,149 - Operating Expenses Total Expenses $5,149 http://property2.costar.com/comps/Detail/Detail.aspx?ID=5097567&Results=0 1/2 10/10/2014 CoStar COMPS® to Lookup Result List Result Detail ■ Select 1830 1st Ave Greeley, CO 80631 -Weld County Ind Submarket Sale On 5/20/2011 For $425.000 ($130.21/SF) - Research Complete Vet Non-Arms Length Como 3.264 SF Class C Industrial Warehouse Building - 1 of 2 ) Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: Ace Energy Services Llc Recorded Seller: Foster Energy Services LIc 28424 Highway 392 Save Survey Gill, CO 80624 Add Records Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal Remove Record Transaction Details Comps Search Supporting Does ,• jd( 115K) Analytic Search Sale Date: 5/20/2011 Sale Type: Owner/User My Surveys Escrow Length: - Bldg Type: Industrial - Warehouse Lookup Comps Sale Price: $425,000 - Full Value Year Built/Age: Built 1982 Age: 29 Asking Price: - RBA: 3,264 SF Update Data • Price/SF: $130.21 Land Area : 0.62 AC (27,186 SF) Price/AC Land Gross: $680,981 ($15.63/SF) Suggestions Percent Leased: 100.0% Percent Improved: 69.7% Support Aetual Cep flat.I Total Value Assessed: $52,060 in 2010 Non-Arms Length : Business Sale/Zero RE Allocation. I Improved Value $36,290 - Assessed: Land Value Assessed: $15,770 Land Assessed/AC: $25,268 Crane: - Stories: 1 Column Spacing: - Ceiling Height: - Levelators: None Cross Docks: - Drive Ins: 1 tot./10'0"w x 14'0"h Loading Docks: None Rail Spots: - Const Type: Steel Zoning : I, Greeley Sprinklers: - Rail Line: - Parcel No: 096109300062 Document No: 3770017 Sale History: Sold for S295.000 (190.38/SF) on 6/28/2007 Sold for $425,000 ($130.21/SF) on 5/20/2011 Non-Arms Length Transaction Notes t : add a note • , , NONE j attach a file • Income Expense Data - FY 2011 Expenses - Taxes $3,986 - Operating Expenses Total Expenses $3,986 Research & Sources CoStar Reseal Autumn Smallwood Last Updated: 6/2/2011 (866) 398-0065 :��i� (866) 221-8695 Publication Date: 5/31/2011 Verification Sources: Doc Inspection Comp ID: 2118773 http://property2.costar.com/comps/Detail/Detail.aspx?ID=5030436&Results=0 1/2 10/10/2014 CoStar COMPS® Ai Lookup Result List - ■ Select 115N 8th Ave ► AKA 115 N 8th Ave Greeley, CO 80631 - Northern Colorado Ret Submarket °`' Sale On 2/17/2012 For $135.000 ($56.23/SF) - Research Complete 2 401 SF Retail Freestanding Building ssessor records classify as utomotive Repair Commercial / ( 2 of 2 > Sale Comp Property Analytics Special Purpose Results Table Sale Contacts Print Reports Recorded Buyer: On Time Recovery LIc Recorded Seller: Lester W & E Irene Edgett True Buyer: On Time Recovery LIc True Seller: All Phase Motors Save Survey Danielle Kerns �—Towing Lester Edgett " Repairs Add Records 115 N 8th Ave 115 N 8th Ave Greeley, CO 80631 Greeley, CO 80631 Remove Record (970) 356-8697 (970) 353-4337 Buyer Type: Corporate/User Seller Type: Corporate/User Comps Search Buyer Broker: Listing Broker: Analytic Search Transaction Details Older My Surveys Sale Date: 2/17/2012 Sale Type: Owner/User Lookup Comps Escrow Length : - Bldg Type: Retail - Fre tanding Sale Price: $135,000 - Full Value Year Built/Age: Built 1954 Age: 58 Update Data Asking Price: - GLA: 2,401 SF < Larger GBA Price/SF: $56.23 Land Area : 0.50 AC (21,780 SF) Suggestions Price/AC Land Gross: $270,000 ($6.20/SF) Larger lot Support Percent Leased: 100.0% Percent Improved: 48.3% Actual Cap Rate: - Total Value Assessed: $29,370 in 2011 Sale Conditions: - Improved Value $14,200 Assessed: 2 Garage Bay doors Land Value Assessed: $15,170 gLand Assessed/AC: $30,340 Stories: 1 CAM : - Elevators: - Zoning : C/D Legal Desc: GR 4210 L4 & El' L13 & N92' W49' L13 & ALL L14 BLK17 CLAYTON PARK TOGETHER WITH VAC E-W ALLEY ADJ TO L4 & 13 ALSO 52 VAC E-W ALLEY AD] TO L14 Parcel No: 096105208014 Document No: 3825831 Sale History: Sold for $135,000 ($56.23/SF) on 2/17/2012 Sold for $185,000 ($77.05/SF) on 6/4/2013 Transaction Notes According to public record, the 2,401 retail building at 115 N 8th Avenue in Greeley, CO sold on February 17, 2012 for $135,000. My Notes: - add a note My Docs: NONE attach a Me Income Expense Data sissiasthestassisisaalitla Expenses - Taxes $2,255 - Operating Expenses Total Expenses $2,255 Research & Sources CoStar Research: Nina Thilert a Last Updated: 3/19/2012 (866) 398-8685 phone update data (866) 221-0591 fax Publication Date: 3/4/2012 Comp ID: 2271096 http://property2.costar.com/comps/Detail/Detail.aspx?t=19&id=6257143&inc=1 1/2 10/10/2014 Legend: l - Subject - County Data Record Records Sale Sales Proximity All Bldg Property Type(s) Ti!Bldgs Year Front View County 'II Address Lot GLA/GBA Selected Date Price (Miles-I-Dir) BuiltSF Attributes 7111 Units - - .— - -- 1 ,400 Automotive 2520 S 8TH AVE - Repair 1 WELD GREELEY, 80631-8410 13,500 2.800 Commercial 1984 - Special N/A Purpose 1 ,400 basement Automotive 115 N 8TH AVE - Repair 1 C D R 02/21/12 $135,000 2.57 N WELD GREELEY, 80631-2340 21,800 2,401 Commercial 1954 - Special N/A 2 Bay AutoRepair / TowShopl Purpose Automotive - Repair 1 CDR 07/15/11 $245,000 0.58 NE e` WELD 2132 4TH AVE 18,270 2,700 Commercial 1998 GREELEY, 80631-7112 - Special N/A 13 Bay AutoRepair I Purpose 6/6/2014 Non-RE Transaction Automotive - Repair 1 CDR 05/23/11 $425,000 1 .11 NEallb �� - 1830 1ST AVE_ : 1 .31 -5925 27,187 3,264 Commercial 1982 - Special N/A Non-Market .ose Transaction 2/23/2009 Automotive - Repair 2720 9TH AVE Commercial 1 CDR 03/08/10 $600,000 0.30 S 631-8419 29,380 2,400 - Special 1995 Non-Market Purpose N/A Transaction Atypical Buyer. Owned neighboring property. stria! - Needed more lot space. Warehouse Return to Search Screen 1 Change Selected Comparables I Display County Data Record Comp Report Copyright © 2014 All Rights Reserved. Colorado Comps, LLC - Data obtained from sources deemed reliable but not guaranteed. Use of this site subject to Terms and Conditions of Use. Privacy Policy may be viewed here. http://colocomps.coloradocomps.com/comps/properiteriaMstr.aspx?SID=mbrp328055264&propertyid=096117312019&sched=R354598684cid=WELD&... 1/1 10/10/2014 Search Criteria Quick Parcel/ Owner/ Sub # "Deed" Sales Update Close ColoComps Search Legal Search Search "Viewer`- Info Search Return to the detail screen for 2520 S 8TH AVE View/Print Selected Comparables Search Criteria Summary County: Weld Records Searched: County Data Records (CDRs) Property Type: Automotive Property Sub-Type Automotive: Repair ' Limited to Comparables within 5 miles of the Subject Date of Sale between: 07/01/2008 and 06/30/2012 _ Total CDRs found: 4 4 CDRs selected by user All Bldg GLA/GBA Square Footage between: 2,240 and 3,360 • Sorted by Sale Date, Descending iN,r, . i, , , at' Island Grove Park 1p 62 62 x a N 3 w a 5th St 'y' 5th Si < < Greeley i ft T i County Ai Greele ‘+ .,., I �' _ J Q9 II:\ti y y_ ---......fer iii, ,it 13th St 13th St9. a t - _____ r —1.6th.S�. Da 16th S FF1yth a ' - o CB - s i D 1 II, n 11 20thst ID E20rhSr O - s n a I i. University of I1/4J U E 24m Northern Col 30th St • i1r.t Sr Map Report a map error A -.amps 4 Records Location &ter en adaess w grogwpty tore-certrn Ins me? Additional 0 Clear Catena _ I a h. `r a type of Property `� Illii eon!M C ee,r e N O < y ' Offic@ Indust-tat I R yJi tuavne v O FlMute-Family Hosp4aMy �+ Land Health care _: Speck —Ra _ Shopping Canter Sports 6 Entertainment Se 1 Property Sin Secondary Type s -m..IM -Fa-p.rx %V" °Y @I• t.o u ��r� s- 'F I Auto Dealership _ a . include Unite..lased Straps fa Alto Repay ,. li ft IO Sri -9u0n enat t - Year Bunt Bar aw..:.... w at►e f Borvng Atilt, air Into r.e 1 yes tlaa SaT r @e�k "'^" ' �• Convenience Stores • __ .. . lgth 5t Grr@yY aM! Costar Rating . St, ti Teesary GinNntY W we It I terry S u . . • Li i A 3 wee t trth 1:. . Single ; Multiple . IP Salle Pile. PtkelSF an yyc_:- -. - s*"etGMrt e • City ....-41rae 'IC,S b _ _- '- - - _ to matte tr ! sr Inducts Undisclosed!Sale Pace * t gyp' Stele -' el -- - n'm sr Evan eitiq�Se Sib Dar Cep Reba' S 7/1/2007 to .6/30x2012 to : -Whin ea -. suet Lt. c.w • . Sir SS Sete Type elr. # Sold • to estmerrt O.. For Sab r+«:._ OwUs« - ��.�� Under ContracVPendng e��-_ ---- --' -`- -- .., , e, 4 a SOS*All • eta Pollak)Sales a Exclude AO • Multi-Properly Sates U Include Onto • &dense Park Saba y • - _ * I r1 Inn hide Or ti • Cando Sales Tie tt«eti•rt in Include Punk Record Sales .. Include Non-Arms Length Camps M !` a Include NNN Sales Only- Jet, trscYham o'er*sod« t nets tl Return and Search on Patten Sales as Iedrndual Repeats beer C 2014 Nolua O2914 Mcrosen Cotporiocn Costar Search Results: (Criteria: Extended Study Period. Greeley. Auto Repair) Address Sold Price SqFt S/SF Lot SqFt Bays 2470 35th Ave Ct 01/24/12 $900,000 2,236 $ 393.70 18,295 3 Non-Market Transaction; Included Right of 1st Refusal for 2460 35th. 2132 4th Ave 07/15/11 $245,000 2,700 $ 90.74 18,269 3 2820 5 31st Ave 08/25/09 $656,300 5,076 $ 129.29 33,541 3 2410 W 6th (2424 6th Ave) 01/18/08 $300,000 5,044 $ 59.48 54,998 3 Assessor Records Search (via ColoradoComps.com): (Criteria' 5 mile radius, Auto Repair, Study Period. 20%GBA variance) Address Price SqFt $/SF Lot SqFt Bays 115 N 8TH AVE 02/21/12 $135,000 2,401 $56.23 21,800 2 2132 4TH AVE 07/15/11 $245,000 2,700 $90.74 18,270 3 1830 1ST AVE 05/23/11 $125,000 3,264 $130.21 27,187 - Non-Market Transaction SUBJECT 2520 S 8th Ave 1,400 13,500 2 1,400sf Basement w/open-pit to bays CLERK TO THE BOARD PHONE (970) 336-7215, EXT. 5226 1861 FAX: (970) 352-0242 1150 O STREET P.O. BOX 758 �il� \ GREELEY, COLORADO 80632 13LGOUNTY September 24, 2014 RPM Properties RLLLP 3686 Stage Coach Unit H Longmont, CO 80504 RE: SCHEDULE NUMBER#R3545986 Dear Property Owner: This is to advise you that the Weld County Board of Commissioners will hear your petition for abatement or refund of taxes on the property described as: 2520 S. 8th Ave, Garden City, CO. The meeting is scheduled for October 20, 2014, at 9:00 a.m., in the Chambers of the Board of County Commissioners of Weld County, Colorado, Weld County Administration Building, 1150 O Street, Assembly Room, Greeley, Colorado 80631. The Assessor is recommending that the Board deny your petition. You are not required to be present at this hearing; however, this is your opportunity to have your position heard, particularly if your position is opposed to the Assessor's recommendation. If you intend to submit any documentation in support of your position for this hearing, all such documentation must be submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at least seven calendar days prior to the meeting date in order for it to be considered at the scheduled hearing. If you have any questions concerning this matter, please do not hesitate to contact me at (970) 336-7215, Extension 5226. Sincerely, , „.6.216,. a. filo:it afaela A. Martinez Deputy Clerk to the Board cc: Assessor D. Burrup, Property Tax Adjustment Specialist, Inc. Rafaela Martinez From: David M Burrup [david@copropertytaxes.com] Sent: Friday, October 17, 2014 6:07 PM To: Rafaela Martinez Cc: Brian Keppen Subject: RE: R3545986: BoCC hearing docs Attachments: 2520 S 8th Ave - BoCC_v4.pdf Rafaela, I realize it is probably too late for this but attached is an improved document better organized and paginated. The core data is the same. The only items added were the Assessor's provided information, Costar reports on the assessor comps, and my commentary. No new comps were added. If it is possible to provide a copy of this to the Hearing Officer and assessor (he's also cc'd) prior to the hearing I'd appreciate it but if it is either not possible, or not permitted, than that is fine and I'll just verbally discuss the information —though again it'd be easier for all to have the paginated version. • The best number to call me at for the hearing is 720-279-4864. Thank you again for your assistance. Regards, David M Burrup Elite Property Services, Inc / Property Taxes Adjustment Specialist, Inc 6000 E Evans Ave #1-426 Denver CO 80222 303-355-5871 303-691-8882 (fax) www.copropertytaxes.com Specializing in ('nlonedo Commercial Property Taxes jar over 27 Fears! From: David M Burrup [mailto:david@coprooertytaxes.com] Sent: Monday, October 13, 2014 4:48 PM To: 'ramartinez@weldgov.com' Cc: 'bkeppen@weldgov.com' Subject: R3545986: BoCC hearing docs Rafaela, Attached are the documents we intend to discuss at the 10/20/14 hearing for this property. Due to other time constraints I will not be able to attend the meeting in person but would like to attend via telephone conference. Please let me know what phone number I should call to attend. We also request the Assessor's office forward all "data used by the assessor in determining the actual value" of the property to either my email or the fax number below. « File: 2520 S 8th Ave - BoCC Data.pdf» Regards, David M Burrup Elite Property Services, Inc / Property Taxes Adjustment Specialist, Inc 6000 E Evans Ave #1-426 Denver CO 80222 303-355-5871 303-691-8882 (fax) www.copropertytaxes.com Specializing in Colorado Commercial Properly Taxes for over 27 Years! 2 Grease Monkey 2520 S 8th Ave Garden City (3545986) 2521 8th Ave Garden aty,Colorado 0' Street View-Aug 2012 - a VISSI .... . ‘3/4 r 4 ., — -17P i r . 4. es-74 I _ 1 _ '- -. h/t�� — / i � act - � -��:i � I��y �" .'mot%. ..� - '°."" _=— l _ .t k _ f j� - CD 0 11st t .. , C_a., N. t 26th St = . u� D 7 YY Goo�slc rill t9 ` -_ -- _.._Back to Map +, _ .4 Image capture Aug 2012 €; ?075 Google Lite mode Ta►n►s Privacy Report a problem - - a Table of Contents Subject Aerial View 2 Assessor Records 3-7 Petitioner Comparables Search Efforts (CoStar & Assessor Data) & Criteria 8 CoStar Reports 9-12 Map Petitioner & Assessor Comps 13 Grid Petitioner & Assessor Comps 14 Assessor Sales Assessor Sales Grid 15 Assessor Sales MLS/CoStar Reports 16-21 Assessor Income Approach 22 Assessor Records, Income Comp 23-24 Aerial View - - 1r '" .rj - 2520 S 8th Ave garden city. co Q • • I I • 2520 8th Ave Garden City.CO S053 t -4,......c. t. . ._ Street View Search nearby r �_ .. Mickady Enterprises o , ,, • $ r I Amenca GM)1 1j • NT 0 AN' 'IL Al r- • _ • 777 rJ- S ... '• 1 . r t t �r v I t } , .Yc•20_8th Ave It •F! rd.,. T - ._..........-..;:g.._ r • I+1 — s 1 p �I . i -CI • , . .a.: aimMEM In Illr I • , + 4 • a8 Map � t . ? T In II A (a - • • . . _ Map data€;2G1.1 Goog!e Lite mode Terms Privacy Repot a prob'em 20 ftp r1 - a Side View o- Street View-Aug 2012 r ; • c 1 er ell . Iaii ia l Plifr, RADA �r r .d e' i M 7 I St F 4 , I. . . , -- T Google ■■■ ^�; 1 Back to Map - - - - - - ----- - _ '•:r Image capture.Aug 2012 u 201 4 ... e Lite mode Terms Privacy Report n:r a Property Profile for Account # R3545986 October 17 , 2014 Account Information Account Parcel Space Account Type Tax Year Tax Area Buildings i Actual Value Assessed Value i R3545986 096117312019 Commercial 2014 1 0602 1 343,000 99,470 Legal GC 6041-A L11-12 BLK2 2ND ADD TOGETHER WITH W2 VAC ALLEY ADJ TO Subdivision Block Lot Land Economic Area GARDEN CITY 2ND ADD 2 11 G.C. S. 8TH AVE Property Address Property City Zip Section Township Range 2520 S 8 AV I GARDEN CITY 000000000 1 17 05 65 Onu Irfarrial Account Parcel Space Account Type Tax Year Tax Area Buildings Actual Value Assessed lisin I Value R3545986 096117312019 Commercial 2014 0602 1 343,000 99,470 Owner(s) Address Line 1 " Address Line 2 City ST Zip RPM PO BOX 2435 LONGMONT CO 805022435 PROPERTIES RLLLP Dcaxrrt H istay Irfarrlicn Account Parcel Space Account Type Tax Year Tax Area Buildings Actual Value Assessed Value R3545986 096117312019 Commercial 2014 0602 1 343,000 99,470 Reception I Rec Date Type Grantor Grantee Doc Fee Sale Date Sale Price 01941807 09/27/1983 WDN 0.00 01/01/1901 0 01944936 ♦ 10/26/1983 WDN 0.00 01/01/1901 0 Reception Rec Date Type 1 Grantor Grantee Doc Fee Sale Date I Sale Price X0009221 10/26/1983 GORSLINE 4.40 10/26/1983 44,000 I DELBERT L & WARREN R 02373430 02/11/1994 GORSLINE YATES TOM 30.00 02/08/1994 300,000 DELBERT L & WARREN R 2871824 08/03/2001 PRDN YATES TOM YATES J SUZANNE 0.00 07/31/2001 0 AS PERSONAL REP OF 2871825 08/03/2001 QCN YATES J SUZANNE T & S OILERS LLC 0.00 07/31/2001 0 AS PERSONAL REP OF 3000808 10/30/2002 SWD T & S OILERS LLC RPM PROPERTIES 111 .47 10/28/2002 1 ,114,700 RLLLP B.J ild irg Irfc rnadcn Account Parcel Space Account Type Tax Year Tax Area Buildings Actual Value Assessed lila Value R3545986 096117312019 Commercial 2014 0602 1 343,000 99,470 B..ildrp 1 ID Type: 1 NBHD Occupancy Built As Bedrooms Baths Rooms 1 Commercial I 6903 I Mini Lube Garage I Mini Lube Garage I 0 0 0 ID Square Ft Condo SF Total Basement Finished Bsmt SF Garage SF Carport SF Balcony SF Porch SF SF 1 L 1 ,400 0 0 0 0 L 0 0 0 ID Year Built % Complete Stories Perimeter Units Unit Type 1 1984 100 ! 1 1561 0 ID Length I Width , Make 1 I 0 0 ID Exterior Roof Cover Interior 1 Package Unit I ID Detail Type _ Detail Description M_ . 1 Add On Asphalt Average 8,314 1 Add On Concrete Slab Average 1 ,276 1 Basement Storage 1 ,400 Valuation Information Account Parcel Space Account Type Tax Year Tax Area Buildings Actual Value Assessed Value R3545986 1096117312019 Commercial 2014 0602 1 343,0001 99,470 TA* Code Description Actual Value Assessed Acres Land SqFt Value Land 2130 SPECIAL PURPOSE-LAND 47,250 13,700 0.310 13,500 Improvement 2230 SPECIAL PURPOSE-IMPROVEMENTS 295,750 85,770 0.000 0 343,000 99,470` lfl19 j 18 50O' Tax city Irfcrrrtticn Account Parcel Space Account Type Tax Year Tax Area Buildings Actual Value Assessed Value R3545986 096117312019 Commercial 2014 0602 1 343,000 99,470 Tax Area District ID r District Name Current Mill Tax Year Levy 0602 0100 WELD COUNTY 16.804 2014 0602 0206 SCHOOL DIST #6-GREELEY 38.175 2014 0602 0301 NORTHERN COLORADO WATER (NCW) 1 .000 2014 0602 0409 GARDEN CITY TOWN 11 .450 2014 0602 0519 WESTERN HILLS FIRE 10.092 2014 0602 0700 AIMS JUNIOR COLLEGE 6.302 2014 0602 1050 HIGH PLAINS LIBRARY 3.264 2014 87.087 al Photo • • • • • S Sketch II i 10.0' 4 r — 1 I I I 1 /B Ilil 1 2 0' Office Package - Air .0 I .0 '' t I '- Asphalt Paving co U� 1 �B - Asphalt Paving a) � Service Area 92 o I , td ss.o c _,�_� 2 bays o o ss.o �, U o U Mini Lube Garage 'II' BIt 1984 Class C IB Forced Air 8.0' I 12' w+h Storage r I 1 ,400 sq . ft. 28.0' I 1 I Bsmt 1 ,400 sq . ft. Sketch by Apex IV VIAndows T" * = Result List Result Detail Sale Comps 4 Records Location i Enter an address or geography to reenter the map Go 0 Clear Additional Criteria View Results ^^ii Type of Property c,610:31O O < N > L_U Office _: Industrial !I Retail county Rod 68 - County Rod 68 Lucerne . u v O L, Flex Multi-Family Hospitably Radius L_' Land Health Care Specialty r__.. Shopping Center i Sports& Entertainment a .0 11 ..,...• 0 - _, t Corridor Property Size Secondary Type .— ty Read r$ •panrM W o St T---- o St ,eve _ E a Coverts, [ j to I SF ,_, Auto Dealership 7;o Code I I as I.. �o -i`- Include Undisclosed Sizes lii Auto Repair a'�i x ' M last J Bank Sucma+i:e: t , Year Built Lj Bar W our St w 4th St A1l1 `. Gant Cart, I It)[ 1 D Bowling Ailey Cit'i ir>aa iambQ r' i-21.---.-- E eel St 0-9.,01 C Lii Convenience Store - 4 h Q 1 W loth St 10th St Greeley ; 4,___ : _ CoStar Rating }r !i H • T • a -:,°).N -., , Tenancy W}6th St ≤ }6th St c �s Count; p Single ! Multiple 1 % E 1fih St Ilk. n st < W Nth st `" Metro Area vrote} Sale Price Price/SF ti ® 5 toS r'a�t :L., - - Garden City I Include Undisclosed Sale Price s� 37th St nth St Evans County Rood u Sale Date Cap Rate I7/10007 I to 18/30/2012 ',I to 3 1 Auburn 49th s` (poem o t ty Road 52 Sale Status Sale Type ia L1: Sold I_ Investment Elm Salle For Sale Li Owner/User La county Road so Under Contract/Pending v - - -- - - - Li Exclude All • Bulk Portfolio Sales - I Exclude All • Multi-Property Sales • O Include Only • Business Park Sales ra I s Include Onl, • Condo Sales Harbert ii Include Public Record Sales i Include Non-Arms Length Comps as• `t Include NNN Sales Only 214 Peckham County Rated 4 1 miles t km Return and Search on Portfolio Sales as Individual Properties Id t>ra 0 2014 Nokia ©2014 Microsoft Corporation View Results CoStar Search Results: (Criteria: Extended Study Period, Greeley, Auto Repair) Address Sold Price SqFt $/SF Lot SqFt Bays 2470 35th Ave Ct 01/24/12 $900,000 2,286 $ 393.70 18,295 3 Non-Market Transaction; Included Right of 1st Refusal for 2460 35th. 2132 4th Ave 07/15/11 $245,000 2,700 $ 90.74 18,269 3 2820 S 31st Ave 08/25/09 $656,300 5,076 $ 129.29 33,541 3 2410 W 6th (2424 6th Ave) 01/18/08 $300,000 5,044 $ 59.48 54,998 3 Assessor Records Search (via ColoradoComps.com): (Criteria: 5 mile radius, Auto Repair, Study Period, 20% GSA variance) Address Sold Price SqFt $/SF Lot SqFt Bays 115 N 8TH AVE 02/21/12 $135,000 2,401 $56.23 21,800 2 2132 4TH AVE 07/15/11 $245,000 2,700 $90.74 18,270 3 1830 1ST AVE 05/23/11 $425,000 3,264 $130.21 27,187 - Non-Market Transaction SUBJECT 2520 S 8th Ave 1,400 13,500 2 1,400sf Basement w/open-pit to bays 10/10/2014 CoStar COMPS® ar Lookup Result List Result Detail MI Select 115 N 8th Ave ***** AKA115N8thAve • Greeley, CO 80631 - Northern Colorado Ret Submarket _ — Sale On 2/17/2012 For $135,000 ($56.23/SF) - Research Complete 2,401 SF Retail Freestanding Building 2 of 2 ) Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: On Time Recovery Llc Recorded Seller: Lester W & E Irene Edgett True Buyer: On Time Recovery Llc True Seller: All Phase Motors Save Survey Danielle Kerns Lester Edgett Add Records 115 N 8th Ave 115 N 8th Ave Greeley, CO 80631 Greeley, CO 80631 Remove Record (970) 356-8697 (970) 353-4337 Buyer Type: Corporate/User Seller Type: Corporate/User Comps Search Buyer Broker: Listing Broker: Analytic Search Transaction Details My Surveys Sale Date: 2/17/2012 Sale Type: Owner/User Lookup Comps Escrow Length : - Bldg Type: Retail - Freest≥acPna Sale Price: $135,000 - Full Value Year Built/Age: Built 1954 Age: 58 Update Data Asking Price: - GLA: 2,401 SF Price/SF: $56.23 Land Area: 0.50 AC (-247-74O-S—F) Suggestions Price/AC Land Gross: $270,000 ($6.20/SF) Support Percent Leased : 100.0% Percent Improved : 48.3% Actual Cap Rate: - Total Value Assessed : $29,370 in 2011 Sale Conditions: - Improved Value. $14,200 Assessed : Land Value Assessed : $15,170 Land Assessed/AC: $30,340 Stories: 1 CAM : - Elevators: - Zoning : C/D Legal Desc: GR 4210 L4 & El' L13 & N92' W49' L13 & ALL L14 BLK17 CLAYTON PARK TOGETHER WITH VAC E-W ALLEY AD] TO L4 & 13 ALSO S2 VAC E-W ALLEY AD] TO L14 Parcel No: 096105208014 Document No: 3825831 Sale History: Sold for $135,000 ($56.23/SF) on 2/ 17/2012 Sold for $185,000 ($77.05/SF) on 6/4/2013 Transaction Notes According to public record, the 2,401 retail building at 115 N 8th Avenue in Greeley, CO sold on February 17, 2012 for $135,000. My Notes: add a note My Docs: NONE attach a File Income Expense Data FY 2012 Expenses - Taxes $2,255 - Operating Expenses Total Expenses $2,255 Research & Sources CoStar Research : Nina Thilert Last Updated : 3/ 19/2012 (866) 398-8685 phone update data (866) 221-0591 fax Publication Date: 3/4/2012 Comp ID: 2271096 http://property2.costar.com/comps/Detail/Detail.aspx?t=19&id=6257143&inc=1 1/2 10/10/2014 CoStar COMPS® A Lookup Result List II+l��ll�ri�l�l��l�ll� ■ Select 2132 4th Ave - Greeley Auto Clinic tit* • ----- Greeley, CO 80631 - Northern Colorado Ret Submarket Sale On 7/15/2011 For 5245,000 (S90.74/SF) - Research Complete !hi 2,700 SF Retail Auto Repair Building ( 8 of 10 > Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: Ronald M & Gayle F Greene Recorded Seller: Chris King & Jason Rothe True Buyer: Ronald M & Gayle F Greene True Seller: First Team Real Estate Save Survey Ronald Greene Chris King J Add Records 510 Denver Ave 1019 37th Ave Ct, Suite 3 Fort Lupton, CO 80621 Greeley, CO 80634 Remove Record (970) 378-9090 (970) 396-1156 Buyer Type : Individual Seller Type: Corporate/User Comps Search Buyer Broker: REFCO Realty, Inc. Listing Broker: First Team Real Estate Analytic Search Roy Friesen J Chris King (970) 339-8543 (970) 396-1156 My Surveys Lookup Comps Transaction Details Supporting Docs: Deed ( 53K) Update Data Suggestions Sale Date : 7/ 15/2011 (428 days on market) Sale Type: Owner/User Escrow Length : 240 days Bldg Type: Retail - Auto Repair Support Sale Price : $245,000 - Confirmed Year Built/Age: Built 1998 Age: 13 Asking Price : $279,900 GLA: 2,700 SF Price/SF: $90.74 Land Area : 0.42 AC ( 18,269 SF) Price/AC Land Gross: $584,168 ($13.41/SF) Percent Leased : - Actual Cap Rate: - Sale Conditions: Exercise of Option Financing: Down payment of $245,000 ( 100.0%) Stories: 1 CAM : - Elevators: - Zoning: I-L Legal Desc: GR G-991 L9-10BLK6 ALTA VISTA Parcel No: 096117103007 Document No: 3780223 Sale History: Sold for $380/000 ($140.74/SF) on 2/ 10/2006 Sold for $245,000 ($90.74/SF) on 7/ 15/2011 Sold for $250,000 ($92.59/SF) on 5/ 10/2013 Transaction Notes The brokers and seller confirmed that the property at 2132 4th Avenue was sold on July 26th 2011 for $245,000. Chris King, of First Real Estate, represented himself during the transaction. Roy Frieser, of REVCO, represented the buyer. The 2,700 square foot auto shop was$rented for 6 months with an option to buy' The new owner took the option and bought it two months after the experiration of the lease. The property had been on the market for about 6 months and under escrow for 8 months. The buyer will be using the property themselves. My Notes: add a note .r, My Docs: NONE attach a file Income Expense Data FY 2011 Expenses - Taxes $5,149 - Operating Expenses Total Expenses $5,149 http://property2.costar.com/comps/Detail/Detail.aspx?ID=5097567&Results=0 1 /2 10/10/2014 CoStar COMPS® Lookup Result List Result Detail MI Select • - 1830 1st Ave A, * * •* Greeley, CO 80631 -Weld County Ind Submarket `, Sale On 5/20/2011 For $425,000 ($130.21/SF) - Research Complete • Y !- i Non-Arms Length Comp 3,264 SF Class C Industrial Warehouse Building — 1 of 2 ) Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: Ace Energy Services LIc Recorded Seller: Foster Energy Services LIc 28424 Highway 392 Save Survey Gill, CO 80624 Add Records Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal Remove Record Transaction Details Comps Search Supporting Docs: Deer . - Analytic Search Sale Date: 5/20/2011 Sale Type: Owner/User My Surveys Escrow Length : - Bldg Type: Industrial - Warehouse Lookup Comps Sale Price: $425,000 - Full Value Year Built/Age: Built 1982 Age: 29 Asking Price: - RBA: 3,264 SF Update Data Price/SF: $130.21 Land Area: 0.62 AC (27,186 SF) Price/AC Land Gross: $680,981 ($15.63/SF) Suggestions Percent Leased : 100.0% Percent Improved : 69.7% Support Aci-i r](' o,to I Total Value Assessed : $52,060 in 2010 Non-Arms Length : Business Sale/Zero RE Allocation. I Improved Valu( $36,290 �al� Cenda:e, e. Assessed : Land Value Assessed : $15,770 Land Assessed/AC: $25,268 Crane : - Stories: 1 Column Spacing : - Ceiling Height: - Levelators: None Cross Docks: - Drive Ins: 1 tot./ 10'0"w x 14'0"h Loading Docks: None Rail Spots: - Const Type: Steel Zoning : I, Greeley Sprinklers: - Rail Line: - Parcel No : 096109300062 Document No : 3770017 Sale History: Sold for $295,000 (590.38/SF) on 6/28/2007 Sold for $425,000 ($130.21/SF) on 5/20/2011 Non-Arms Length Transaction Notes My Notes: - add a note J My Docs: NONE attach a file Income Expense Data FY 2011 Expenses - Taxes $3,986 - Operating Expenses Total Expenses $3,986 Research & Sources CoStar Research : Autumn Smallwood IA Last Updated : 6/2/2011 (866) 398-0065 phone update data (866) 221-8695 fax Publication Date: 5/31/2011 Verification Sources: Doc Inspection Comp ID: 2118773 http://property2.costar.com/comps/Detail/Detail.aspx?ID=5030436&Results=0 1/2 10/10/2014 CoStar COMPS® ar Search Criteria Result List Result Detail El Select 2820 S 31st Ave as • Greeley, CO 80631 - Northern Colorado Ret Submarket ; .' y i' H Sale On 8/25/2009 For $656,300 ($129.29/SF) - Research Complete 5,076 SF Retail Auto Repair Building 2 of 4 ) Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: Full Throttle Holdings Greeley Recorded Seller: Philip K & Grace M Nething True Buyer: Full Throttle Holdings Conifer True Seller: Philip K & Grace M Nething Save Survey David Call Philip Nething Add Records Jeffrey Theisen Grace Nething 830 Pine Ridge Rd Remove Record Golden, CO 80403 (303) 225-0854 Comps Search Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal Analytic Search Transaction Details My Surveys Supporting Docs: need'j(90K); Loam '! ' 7!"1 Lookup Comps Update Data Sale Date: 8/25/2009 Sale Type: Owner/User Escrow Length : - Blcig Type: Retail - Auto Repair Suggestions Sale Price: $656,300 - Confirmed Year Built/Age: Built 1981 Age: 28 Asking Price: - GLA: 5,076 SF Support Price/SF: $129.29 Land Area: 0.77 AC (33,541 SF) Price/AC Land Gross. $852,338 ($19.57/SF) Percent Leased : 100.0% Percent Improved : 62.0% Actual Cap Rate : - Total Value Assessed : $76,560 in 2008 Sale Conditions: - Improved Value $47,460 Assessed : Land Value Assessed : $29,100 Land Assessed/AC: $37,792 Financing : Down payment of $65,675 ( 10.0%) $590,625 from Selle Stories: 1 CAM: - Elevators: - Zoning: C-H Parcel No: 095924201041 Document No : 3645054 Transaction Notes On August 25, 2009, Philip and grace Nething sold the 5,076-square-foot retail building located at 2820 S. 31st Ave. in Greeley, CO to Full Throttle Holdings for $656,300. There were no brokers involved in this deal. Mill Levy: 75.261 My Notes: - - add a note i My Docs: NONE attach a file Income Expense Data FY 2009 Expenses - Taxes $5,763 - Operating Expenses Total Expenses $5,763 Research & Sources CoStar Research : Victor Castillo \-' 1 Last Updated: 9/15/2009 (866) 398-0015 _ update data (888) 893-3728 r_,; Publication Date: 9/6/2009 Verification Sources: Doc Inspection Buyer (or rep) http://property2.costar.com/Comps/Detail/Detail.aspx?t=19&id=5347918&inc=1 1/2 10/17/2014 2520 S 8th Ave 2520 S 8th Ave ,ir. :--rm-- Livermore Search Q • 6140 87 l.r" -s , 7 � Roosevelt National Forest ! !e Forest State Park Fort 6 , l li ns14 ) a , Eaton CD F� Windsor ) :125) el Loveland e° Estes Park , Evans • s Johnstown Rocky Mountain Berthoud ED Natrona! Park as ________ e C Longmont r— - T6 t Niwot C ® Fort Lupton 0 Gunbarrel Erie ,,i s2 Boulder { ' t t 9 Lafayette _ __ _ Brighton? Superior 470 , ' Broomfield I Henders`on. \, ,,f '.1 \ I Q 3paho National Forest t t2' westmin ter .7 Inrad 1 ' _� _ ` --`� t_ Goldin-.l f 70 Oro Bennett 70 — Denver Aurora I - 70 --.,__/----....,,,, 2* ;a.70 Front Range 0a3} mp ` ;ilverihorne CI 's` Evergreen N n9ler rood_ rot Evans Littleton Frisco Ai ' Kencaryl_-_ Centennial r 470 r - I , Lone Tree conifer 4. Parker 10 km ' ©2014 Google 2520 S 8th Ave Garden City A . . -mm , ;e : Subject 2132 4th Ave Greeley B Whose: PetitionerComp Distance: 0.58 mi 2820 S 31st Ave Greeley C Whose: PetitionerComp Distance: 1 .95 mi http://batchgeo.com/map/c5dd8e975c56bbdb3f0b99e8b8ded391 1/2 Whose Address City Land Size Assessed $/sf Assessed Subject 2520 S 8th Ave Garden City 13,500 $47,2 'l 3. 5ECurrent value which is in dispute. AssessorComp 2470 35th AVCT Greeley 18, 169 $ 127, 1 $3 7 W0 Land Assessed Values Assessor as dissimilar. AssessorComp 6872 Hwy 2 CommCity 21 ,780 $87,8$4 4.04 AssessorComp 1800 S . College P Ft Collins 10,219 $ 122 ,600 $ 12.00 PetitionerComp 115 N 8th Ave Greeley 21 ,800 $82 ,841 3.80 PetitionerComp 2132 4th Ave Greeley 18,270 $45 ,831 2 .51 PetitionerCorp 1830 1st Ave Greeley 27, 187 S51 ,655 $ 1 .90 PetitionerComp 2820 S 31st Ave Greeley 33,454 $ 100,3$2 .00 3 Comr Conclusion Reasonin AssessorComp1 2470 35th AVCT Dissimilar Subject odanght this property. It was a non-Market tran actMery superior to subject. AssessorComp2 6872 Hwy 2 Dissimilar Diff Market & Cthytr6ale included non-Real Property. Renovated 2006e + Car Wash . AssessorComp3 1800 S . College P Disallowed Non-Market Transaction . Existing Tenaatcinased . Different Market & County PetitionerComp 115 N 8th Ave Comparable Inferior. LvEenctional Utility for quick-lube business. Olde.iarger GLA & lot. Same Bays PetitionerComp 2132 4th Ave Comparable Superior. Lrabding & lot. 3 bays. Same City & Market PetitionerComp 1830 1st Ave Disallowed Non Real Property transaction PetitionerComp 2820 S 31st Ave Comparable Superirngththuilding & lot. 3 bays. Same City & Market Comparative Sales Grid PROPERTY Subject Comp 1 Comp 2 Comp 3 Comments Mini Lube Mini Lube Mini Lube Mini Lube Parcel # 0961-17-3-12-019 0959-14-4-03-009 1823-06-1 -18-001 97242-25-001 Address 2520 S. 8th Ave 2470 35th AVCT 6872 Hwy 2 1800 S. College Ave City Garden City Greeley Commerce City Ft. Collins Grantor Suds City LLC First National Bank Rick J Liles Grantee RPM Properties RLLP Tamarack Properties Inc David M Berney Sale Price $900,000 $320,000 $300,000 Sale Price PSF $393.70 $164.69 $258.40 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION Adjustment DESCRIPTION Adjustment DESCRIPTION Adjustment Sale Date 1 /24/2012 10/21 /2011 12/3/2010 I REO I NON-MARKET SALE l Land Size 13,500 18,169 21 ,780 10,219 UB Ratio 9.64 7.95 11 .21 8.80 Bldg SF 1 ,400 2,286 1 ,943 1 , 161 Basement SF n/a 1 ,560 -5% 467 n/a Basement Finish n/a n/a n/a n/a Age 1984 1997 -5% 1951 10% 1961 5% Condition Average Average Average Average NET ADJUSTMENTS -10% 10% 5% i# Bays 2 3 3 2 j (Car Wash I No No Yes No I Adjusted Sale Price $810,000 $352,000 $315,000 Adjusted Price PSF $354.33 $181 . 16 $271 .32 !Adjusted Price Per Bay] S/sf/bay I $118. 11 $90.58 $135.66 (Adjusted Price Per Bay $270,000 $117,333 $157,500 I I Not Comparable REO Not Market Transaction Comparables Price / SF Range $181 .16 - $354.33 $253,628 $ 496,063 Comparables Price / SF Median $271 .32 $379,848 Comparables Price / SF Average $268.94 $376,512 Comparables Price / Bay Range $90.58 - $135.66 $234,667 $ 315,000 Comparables Price / Bay Median $118. 11 Comparables Price / Bay Average $114.78 Subject is currently valued at $245/sf and $122.50/Bay Comp 2 is distress/REO sale Weight comp 1 and 3 Per Square Foot $312.82 $437,954 Per Bay $126.88 10/10/2014 CoStar COMPS® ar Search Criteria Result List Result Detail t2 Select 2470 35th Ave Ct - Mobile Express Lube '= , , AKA 2470 35th Avefr £ Greeley, CO 80634 - Northern Colorado Ret Submarket - y: ; Sale On 1/24/2012 For $900,000 ($393.70/SF) - Research Complete 2.286 SF Retail Auto Repair Building 1 of 4 > Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: Rpm Properties Rllp Recorded Seller: Suds City Llc True Buyer: RPM Properties, RLLP True Seller: Lucas M Sullivan Jr Save Survey Ron Morrow Lucas Sullivan Add Records 3686 Stagecoach 5415 W 6th St Longmont, CO 80504 Greeley, CO 80634 Remove Record (303) 684-8313 (970) 356-2687 Buyer Type: Corporate/User Seller Type: Individual Comps Search Buyer Broker: Listing Broker: Cassidy Turley Travis Ackerman Analytic Search J (970) 267-7720 My Surveys Lookup Comps Transaction Details Supporting Docs: Deed'(102K) Update Data Suggestions Sale Date: 1/24/2012 Sale Type: Owner/User Escrow Length : - Bldg Type Retail - Auto Repair Support Sale Price: $900,000 - Full Value Year Built/Age: Built 1997 Age: 15 Asking Price: - GLA: 2,286 SF Price/SF: $393.70 Land Area: 0.42 AC ( 18,295 SF) Price/AC Land Gross: $2,142,857 ($49.19/SF) Percent Leased : 100.0% Percent Impr d : 76.8% Actual Cap Rate: - Total Valu sessed : $159,100 in 2 1 Sale Conditions: - Improved Value $122,220 Assessed : Land Value Assessed : $36,880 Land Assessed/AC: $87,809 SL-vf k.s. 1 CAM: - Elevators: - Zoning: C Parcel No : 095914403009 Document No: 3821915 Transaction Notes The parties involved could not be reached for more information. According to public records, 2470 35th Avenue was sold on January 24th 2012 for $900,000. Travis Ackerman, at Cassidy Turley Fuller Real Estate, represented the seller. The sale was for a 2,286 retail building which was used as a auto shop at the time of sale. My Notes: I add a note /. My Docs: NONE attach a file Income Expense Data FY 2012 Expenses - Taxes $12,214 - Operating Expenses Total Expenses $12,214 Research & Sources CoStar Research : Brian Chase Last Updated: 3/7/2012 (866) 398-0048 phone update data (877) 267-0978 Publication Date: 2/13/2012 Verification Sources: Doc Inspection Comp ID: 2259112 http://property2.costar.com/Comps/Detail/Detail.aspx?ID=5347918&Results=0 1 /2 LR6844297 Search 4 Lai Property Profile z.K.. is6E- r Account: R6844297 II 1 • i October 10. 2014 .. •= _ Account Owner(s) Document History Building(s) Valuation Detail i Tax Authorities Photo Sketch i NOV Print Account Parcel Space Account Type Tax Year Tax Area Buildings Actual Value Assessed Value R6844297 095914403008 Commercial 2014 0600 1 340,000 98,600 Reception Rec Date Type Grantor Grantee Doc Fee Sale Date Sale Price 2520992 11/18/1996 WDN RIMFIRE INC BORCHERS RILEY L & KATHRYN C & 0.00 10/25/1996 0 2523864 12/06/1996 WDN BORCHERS RILEY L& KATHRYN C& CHAMPION K&K ENTERPRISES LLC 0.00 08/17/1996 0 2941491 04/10/2002 WD CHAMPION K&K ENTERPRISES LLC SUDS CITY LLC 98 50 03/28/2002 985 000 3993658 02/03/2014 QCN RPM PROPERTIES RLLLP SUDS CITY LLC 0.00 12/13/2013 0 3993661 02/03/2014 WD SUDS CITY LLC GREELEY CAR WASHES LLC 130.00 01/30/2014 1,300,000 10/17/2014 CoStar COMPS® a Lookup Result List Result Detail • Select 6872 Hwy 2 - Quick Lube & Car Wash R AKA 6872 Highway 2/SEC Hwy 2 And E 68th St . -- Commerce City, CO 80022 - Northeast Ret Submarket Sale On 10/21/2011 For $320,000 ($164.69/SF) - Research Complete 1 ,943 SF Specialty Car Wash Building 3 of 4 ) Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: Tamarack Properties, Inc Recorded Seller: First National Bank True Buyer: Tamarack Properties, Inc True Seller: First National Bank Save Survey John Franzman Jerry Gutierrez Add Records 6841 S Yosemite St, Suite 110 205 W Oak St Centennial, CO 80112 Fort Collins, CO 80521 Remove Record (303) 475-9310 (970) 482-4861 Buyer Type: Corporate/User Seller Type: Bank/Finance Comps Search Buyer Broker: NAI Shames Makovsky Listing Broker: NAI Shames Makovsky Jamie Mitchell Jamie Mitchell Analytic Search (303) 962-9555 (303) 962-9555 My Surveys Lookup Comps Transaction Details Supporting Docs: Deed `. ; Loant: : Marketing Brochure/Flyer'Q(1701K) Update Data Suggestions Sale Date: 10/21/2011 Sale Type: Owner/User Escrow Length: 90 days Bldg Type: Specialty - Car Wash Support Sale Price: $320,000 - Confirmed Year Built/Age: Built 1951, Renov 2004 Age: 60 Asking Price: - GBA: 1,943 SF Price/SF: $164.69 Land Area: 0.50 AC (21,972 SF) Price/AC Land Gross: $634,417 ($14.56/SF) Percent Leased : 100.0% Percent Improved : 72.4° o Actual Cap Rate: - Total Value Assessed : $318,884 in 2011 Transfer Tax : $32 Improved Value $231,000 Sale Conditions: Distress Sale, REO Sale Assessed: Land Value Assessed : $87,884 Land Assessed/AC: $174,234 Financing : Down payment of $96,000 (30.0%) $224,000 from First National Bank Typical Floor Size: 1,943 SF Stories: 1 Zoning: - Legal Desc: Por Blk 27, Hinchman-Renton Garden Tracts Parcel No: 1823-06-1-18-001 Document No: 0069169 Sale History : Sold for $560,000 ($288.21/SF) on 1/7/2009 Sold for $320,000 ($164.69/SF) on 10/21/2011 Sold for $365,000 ($187.85/SF) on 7/31/2014 Transaction Notes Information contained in this comparable is based on recorded documents and confirmed with the listing broker and buyer. They confirmed the location, size, parties involved, date and price. The property sold 10/21/2011 for $320,000 after being under contract for approximately 90 days. This was a bank owned property, no additional conditions of sale were reported and this was considered to be market value. Information was also based on recorded documents and county assessor records. My Notes: I add a note My Docs: NONE attach a file Income Expense Data FY 2011 Expenses - Taxes $8,022 - Operating Expenses Total Expenses $8,022 http://property2.costar.com/comps/D etai I/D etai I.aspx?I D=5225703&Results=0 1/2 For Sale or Lease - PRICE REDUCED ! Modern Quick Lube Building 6872 Highway 2, Commerce City, CO Size 1 ,943 SF Lease Rate S12.00/SF NNN Purchase Price S600,000 $449,000 Year Built 2004 - County Adams _ _ - -- -- Modern Quick Lube building available �' ----seallilithar r. __-_ ; _anns in excellent shape and features two 12' �ESSLUbe - __. drive thru bays that could easily be uti- f lized for a detailing or tire shop or stor- pi age. All fixtures, furniture and equip- ment is included and the building has a 1 t I I I . . second-story office with a restroom and sal, y 4 e I l ® ' fall I shower. This is a great opportunity for ' Li -7 ' on. L4. - a an owner/user to expand their business while receiving income from the car wash. — - --I • Multiple retailers within 1 mile • Going home side of the road ■ Great opportunity for fleet 7 service with abundant industrial _ _ and service providers nearby be _ t nB+nve _ — x f, - _ L 8 - �� IN ElONAve __ -- E 7001 iimea z- a �. ®eancn 6�{.(ay 6 a -4 / Q #çV 4,1/4710.4 y � ill is....A- / � - �r atoo - E69In Ave, Q E691n Eva / E69tn Ave • �'f (. (;hsumHp z SGffNHC1S11 �: / s a, _ i y 1 I 1 �, I' / E66nygy ,; ;�;� ,' / -mow-- * 1 1 - / EBBei A.. E061n way ..r i \ �l t EONnAve I eU1ax O,k .7 O. EOM PI I t/ I _ / E61In Are F T rd E / E611n Ave DBm011 Ava � �. — ~ , ' / O YI 1 �! , i -••••3/44: `� a �yy EGM Way E6610 Ave ; \ E666' � is ilfa "ft, 02010 Googo,-Klatt dam©2010 - f contact information Jamie Mitchell NA I Shames Ma kovsIcy NAI Shames Makovsky direct 303 565 3041 Commercial Real Estate Services, Worldwide. fax 303 565 3046 email jmitchell@shamesmakovsky.com The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease. www.naishamesmakovsky.com PRICE REDUCED - Quick Lube f or Sale 6872 Highway 2, Commerce City, CO �� .. 89th Ave ft 7 et 'Ars ' . i ` . r E S ��ff !. I •( r y . -f`. •r • ---41,1"/- '"yr' {;. `� r. J�.f.1.+. 'yam •�- 1' • �t�k It y .�•/ -% . ♦ . r -* ;, • ..• • I * •. 1 141L11 , r'It , t: ♦:.. l wit 1 — {. �,• ! �. �y�afy 1,11 4 — • ►, - 0 ,cw. zr. ‘tu;i..s. : , - a ' 4PIr 4: , ,,-: c•.4 the Is ellajga lit;Ail: 4fr�I^ r~� DOa1di� �► �; ! - y;, .;, j ' P •�1` �: t t .4'4)1 '7 I. hop ti, r 1114 t gri '1. 7 ' t - t hr. 1 J� f t 3t1. �-• FIII ; . .-: -t visitor, 1, .0- • 64th Ave . "�� ---n , • • r If, ( f e C41:•))� _ h • , IT 1 014 g i -,. ' ; ." , ,.: • . ._ Atiottfift •.T•R-1.::on\ • co pi, .r vs: . .4... • -+IY �� ••f%� y • it 40 y - .`� �. ♦ • j� q'� Ar / 1. r ill i J t''� ref _,s WELLS •.i �1 ,�. ~ . 1:}4.1.1. J• VIII MULL LiAR-r t i �!' i L'L �', • ___________.„.„...------H..........r...:, 1 ' � NS) 60th Ave __. A• _ :.- 'r F ■ t, vrt •i ,, '� ilil Vp a` I ! ''I w NTERSTATE� w I N r ' i __ ' -. 70rrz a„ ' 58th Ave -�' -- T United , 'r e* it��Rentals i � '.w -' rgil x' . 1 ,, . ` Imo is nw��t ' Ji �idll t i• I`1 - rtli contact information Jamie Mitchell N41 Shames MakovskyNAI Shames Makovsky direct 303 565 3041 Commercial Real Estate Services. Worldwide. fax 303 565 3046 email jmitchell@shamesmakovsky.com The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or lease. www.naishamesmakovsky.com 10/17/2014 CoStar COMPS® ar Lookup Result List Result Detail U Select 1800 S College Ave c", *** Fort Collins, CO 80525 - Northern Colorado Ret Submarket ' Sale On 12/3/2010 For $300,000 ($258.40/SF) - Research Complete 1 ,161 SF Retail Auto Repair Building • — { 1 of 1 Sale Comp Property Analytics Tenant Demographics Contacts Images Map Results Table Sale Contacts Print Reports Recorded Buyer: David M Berney Recorded Seller: Rick J Liles True Buyer: David M Berney True Seller: Rick J Liles Save Survey David Berney Rick Liles Add Records 3349 Crazy Horse Dr 3614 Ranch Creek Dr Wellington, CO 80549 Austin, TX 78730 Remove Record (970) 484-4040 (512) 418-9640 Buyer Type: Individual Seller Type: Individual Comps Search Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal Analytic Search Transaction Details My Surveys Supporting Docs: Deed'J(73K); Loan f - - Lookup Comps 11V Update Data Sale Date : 12/3/2010 Sale Type: Owner/User Escrow Length: 30 days Bldg Type: Retail - Auto Repair Suggestions Sale Price: $300,000 - Confirmed Year Built/Age: Built 1961 Age: 49 Asking Price: - GLA: 1, 161 SF Support Price/SF: $258.40 Land Area: 0.23 AC (10,219 SF) Price/AC Land Gross: $1,278,772 ($29.36/SF) Percent Leased : - Percent Improved : 29.9% Actual Cap Rate: - Total Value Assessed: $50,720 in 2010 Sale Conditions: Purchase By Tenant Improved Value $15,170 Assessed: Land Value Assessed: $35,550 Land Assessed/AC: $151,534 Financing: Down payment of $30,000 (10.0%) $270,000 from Selle Stories : 1 CAM: - Elevators : - Zoning: C Legal Desc: LOTS 1 & 2, LESS ERLY 77.8 FT & LESS STATE HWY, BLK 1, MORAN'S, FTC Parcel No: 97242-25-001 Document No: 20100082048 Transaction Notes Rick Liles, an individual owner, sold the property at 1800 S College Ave to David Berney for $300,000 on December 3, 2010. The 1,161 square foot building was sold as an owner/user property. The buyer reported that he has been a tenant in the property since 2008, however his father had a business in the facility prior to that, so they had a long standing relationship with the seller. The buyer reported he approached the seller in October 2010 to purchase the property and reported it was under contract approximately 30 days and no brokers were involved. The bayer paid $30,000 for the property as a down payment, with a $270,000 seller financed loan. My Notes: add a note /1 My Docs: NONE attach a file Research & Sources CoStar Research: Autumn Smallwood IA Last Updated : 1/ 18/2011 (866) 398-0065 phone L update data (866) 221-8695 fax Publication Date: 1/3/2011 Verification Sources: Doc Inspection Buyer (or rep) Comp ID: 2025105 http://property2.costar.com/comps/D etai I/D etai I.aspx?I D=4820429&Results=0 1/2 10/17/2014 MARKET INCOME WORKSHEET Parcel : 96117312019 Name: Grease Monkey Address: 2520 8th Ave Bldg Sq Ft Use 1 ,400 Mini Lube Subject Rents Annual Rent per Annual Gross Area Rent PSF Month Income Mini Lube 1 ,400 $39.42 $4,599 $55, 188 A LessVacancy & Expenses Vacancy 10% $5,518.80 EGIa I $49,669 Expenses mgmt 5% $2,483 R/R 3% $1 ,490 Net Income $32.64 $45,696 Net Income/Overall Cap Rate = Property Value Property Value Cap Rate + Eff Tax Rate 0.090 0.090 $507,730 Estimated Property Value $507,730 Value psf $362.66 Lease information from Windsor Grease Monkey, parcel 0807-18-4-14-003, R3287204 Petitioner Comments upon Assessor Income Approach Per Assessor Records, Lease Comp has 2,283sf + 2,283sf basement. Subject, like vast majority of mini-lubes, is Owner Occupied. (Owner Corp. has 13 in Weld County & 6 in Greeley. ) Assessor's Lease comp is from different market. Not reliable. Assessor's Lease comp has 3 bays. 50% increased revenue potential . Assessor's Lease comp YOC is 2004. Only 8 years old . Appearance is vastly superior. Does the Lease include the adjacent Car Wash (same owner)? Assessor Sale Comp 2 Marketing Brochure cites NNN Lease rate of $12/sf. Approach proven unreliable as indicates value of $507,730 yet subject is assessed at $343,000. Why assessed different if this is considered reliable? page 1 10/17/2014 Property Profile - Print Property Profile for Account #R3287204 October 17, 2014 Account Information Account Parcel Space Account Type Tax Year Tax Area Buildings Actual Value Assessed Value R3287204 080718414003 Commercial 2014 0437 1 618,122 179,260 Legal WIN 4JF L3 JACOBY FARM 4TH FG Subdivision Block Lot Land Economic Area JACOBY FARM SUB 4TH FG 3 JACOBY FARM SUB 4TH FILING Property Address Property City Zip Section Township Range 1640 MAIN ST WINDSOR 000000000 18 06 67 A Owner Information Owner(s) Address Line 1 Address Line 2 City ST Zip . . SEARS HAL MARSHALL C/O WINDSOR OIL 1640 MAIN ST WINDSOR CO 805507910 REVOCABLE TRUST Document History Information Reception Rec Date Type Grantor Grantee Sale Sale Price Date Building Information Building 1 ID Type NBHD Occupancy Built As Bedrooms Baths Rooms 1 Commercial 2909 Mini Lube Garage Mini Lube Garage 0 0 0 ID Square Ft Condo SF Total Basement SF Finished Garage SF Carport SF Balcony SF Porch SF Bsmt SF 1 2,283 0 0 0 0 0 0 0 ID Year Built % Complete Stories Perimeter Units Unit Type 1 2004 100 1 207 0 ID Length Width Make about:blank 1/3 10/17/2014 Property Profile - Print 1 0 0 ID Exterior Roof Cover Interior HVAC 1 Space Heater ID Detail Type Detail Description Units • 1 Basement Storage 2,283 Valuation Information Type Code Description Actual Value Assessed Value Acres Land SqFt Land 2130 SPECIAL PURPOSE-LAND 218,816 63,460 0.186 8,109 Improvement 2230 SPECIAL PURPOSE- 399,306 115,800 0.000 0 IMPROVEMENTS 618,122 179,260 0.186 8,109 Tax Information Tax Area District ID District Name Current Mill Levy Tax Year 0437 0100 WELD COUNTY 16.804 2014 a 0437 0204 SCHOOL DIST RE4-WINDSOR 47.505 2014 0437 0301 NORTHERN COLORADO WATER (NCW) 1 .000 2014 0437 0304 NORTH WELD COUNTY WATER (NWC) 0.000 2014 0437 0428 WINDSOR TOWN 12.030 2014 0437 0521 WINDSOR-SEVERANCE FIRE 7.194 2014 0437 0533 WINDSOR-SEVERANCE FIRE (BOND 2023) 0.729 2014 0437 0700 AIMS JUNIOR COLLEGE 6.302 2014 0437 1051 CLEARVIEW LIBRARY 3.558 2014 0437 1200 WEST GREELEY CONSERVATION 0.414 2014 95.536 Property Photo about:blank 2/3 CLERK TO THE BOARD PHONE: (970) 336-7215, Ext. 5226 1$61 FAX: (970) 352-0242 IS , 1150 O STREET P.O. BOX 758 �. GREELEY, COLORADO 80632 _iair. J COUNTY October 30, 2014 RPM Properties RLLLP 3686 Stagecoach Unit H Longmont, CO 80504 RE: SCHEDULE NUMBER#R3545986 Dear Property Owner: I On October 20, 2014, the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied same. Pursuant to Section 39-2-125(f), C.R.S., you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from: Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 In preparation for appealing to the State Board of Assessment Appeals you may also go to the following state link to obtain any further information you may need to proceed, http://www.dola.state.co.us/baa/index htm Very truly yours, n 4 Rafaela A. Martinez (� `C� Deputy Clerk to the Board cc: Assessor RM/eg U.S. Postal Service.. ° CERTIFIED MAIL. RECEIPT t` (Domestic Mail Only;No Insurance Coverage Provided) D" F r silvery inf nnati•n visit ur we•slte at www.us•s.c m® C O fN In (3O Postage $ 'Q m p Certified Fee Postmark O Return Receipt Fee Here (Endorsement Required) Restrlcted Delivery Fad(Endorsement - Required) ru $ Total Po a & • r O -.yT`o Tn� / ��,j..,,�� -�` -yam ..J. Na.: _"__Y[1__Q juJ'rntn SpAr Dll r` Street, Pt. TT-_�_-_—'_- r or PO Box No Evans L,_ $—t/O!w___ City,State,ZIP+ v'.V1-_ ►.snbsI 6`ZZ ISAP S F.rm 3'u.June 2n2 See averse f•rinstructi•ns SENDER: COMPLETE THIS SECTION cor.JPLE FE THIS TUC TIED Div DELIVERY • Complete items 1,2,and 3.Also complete A S re Item 4 if Restricted Delivery is desired. X • Print your name and address on the reverse Addressee • so that we can return the card to you. Race by(Printed N ) C. Dat of"Ovary • Attach this card to the back of the mailpiece, \\ 1 or on the front if space permits. — �� t) . ZL 1 I -5 r-/eft' ✓ 1. Article Addressed to: D. Is deli item 1? Yes 'RpM� RLLL� If YES dCp�vey ad ow: ❑No Jt.Q�I.!)1 14� 1 NJ C/oR 1Rn#rlTtu Qd9uc � )\ h� .J ,1 �tacitx.L�.ike 1 t,000 C E atte �'V ' 3. Service Type 'FF /—/.I2(o m Certified Mall ❑Express Mall �(./� O Registered O Return Receipt for Merchandise (1A a 22.2, ❑Insured Mall O C.O.D. r 4. Restricted Delivery?(Extra Fee) O Yes 2. Article Nu bar 7004 2890 0003 5708 9776 (Hensler from same— PS Form 3811,February 2004 Domestic Return Receipt 1o2sssae-M-1540 Hello