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    10615 Melody Dr Northglenn, CO 80234-4160
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    Property profile & analytics

    10615 Melody Dr, Northglenn, CO 80234-4160

    View on Map
    • Retail space
    • 21,173 SF
    • 2.03 lot acres
    Off-Market
    Property ID
    US13-0326881
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,750,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 10615 Melody Dr

    Year built
    1970
    Lot size
    2.03 lot acres
    Property type
    Retail space
    APN
    R0037160
    APU
    R0037160

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 24, 2021 — Mac Management Of Northglenn LLC — Deed · related $4.6M · Great Western Bank
    Feb 18, 2020 — Mary Kreye — Deed · related —
    Aug 21, 2019 — Mac Management Northglenn LLC Mac Management LLC Quit Claim Deed · related —
    Oct 2, 2018 — Mac Management LLC — Grant Deed · related $1.6M · Elevations Cu
    Aug 21, 2018 $7,550,000 Mac Management LLC Northglenn Shopping Center LLC Grant Deed $4.5M · Elevations Cu
    Nov 26, 2002 $48,660 Northglenn City (co) Northglenn Shopping Center LLC Grant Deed · related —
    Dec 14, 2001 $3,625,000 Northglenn Shopping Center LLC J & J Property Investments LLC Grant Deed $3M · Mission Bank
    — — Northglenn Shopping Center LLC — Deed Of Trust · related $3.8M · Miscellaneous Ins Co
    — — Mary Kreye — Loan Modification · related —
    — — Mac Management LLC — Loan Modification · related $4.9M · Elevations Cu
    — — J Ll — Deed Of Trust · related $200k · Firstbank Of Boulder

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Northglenn
    County
    Adams
    State
    Colorado
    Longitude
    -104.994
    Latitude
    39.8891
    CBSA code
    19740
    CBSA name
    DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $90,392
    $185,410
    $591,580
    $776,990
    -
    $664,538
    $1,900,663
    $2,565,201

    Comparable in this City

    • Value Estimation by Request
      10,104 SF

      11160 Huron St

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      11160 Huron St, Northglenn, CO 80234
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    • Value Estimation
      $2,380,000
      6,164 SF

      2741 120th Ave

      RETAIL STORES (PERSONAL SERVICES)
      2741 120th Ave, Westminster, CO 80234-2801
      View Details
    • Value Estimation
      $2,730,000
      17,990 SF

      12002 Melody Dr

      RETAIL STORES (PERSONAL SERVICES)
      12002 Melody Dr, Westminster, CO 80234-4212
      View Details
    • Value Estimation
      $685,000
      6,145 SF

      2721 120th Ave

      RETAIL STORES (PERSONAL SERVICES)
      2721 120th Ave, Westminster, CO 80234-2945
      View Details
    • Value Estimation
      $1,595,000
      6,306 SF

      2751 120th Ave

      RETAIL STORES (PERSONAL SERVICES)
      2751 120th Ave, Westminster, CO 80234-2986
      View Details
    • Value Estimation
      $3,540,000
      18,200 SF

      1001 120th Ave

      RETAIL STORES (PERSONAL SERVICES)
      1001 120th Ave, Westminster, CO 80234-2703
      View Details

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    Similar Nearby for Lease

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      1,800 SF

      Prime Retail Space Available

      High-profile retail space with ample parking and easy access.
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      Retail Space in Busy Center

      Retail space available in a busy shopping center.
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      Retail Suites at Busy Intersection

      Two in-line retail suites available for lease.
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      Retail Suites Available for Lease

      Two in-line retail suites available, can be combined.
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      High-Traffic Retail Space Available

      Retail space with high visibility and ample parking.
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    Property Visit Statistics

    • Visits by month
      28.9k
    • Visitors by month
      19.7k
    • Avg Time on site
      20 min
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    Northglenn, CO 80234-4160
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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