New search
Property profile & analytics
FOR LEASE
Office buildings
1111 Spruce St Boulder, CO 80302
Individually Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US13-0182926
For Lease
1 / 2
$3,155,000
1111 Spruce St, Boulder, CO 80302
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Construction
BRICK
Total area
19,000 SF
Lot
0.16 ac (6,882 SF)
Zoning code
2120
APN
1463-30-3-20-002
UPID
US13-0182926
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Helix property management Property Management Company
-
Porzak Law Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.39M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.16M
Owner & transaction history
Stephen D Tebo · 7 yrs held
Stephen D Tebo
since 2019
5 recorded transactions
Zoning & alternative use
2120 · Boulder, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Boulder submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Boulder submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,750,000
6.5%
$4,385,000
7%
$4,070,000
Blend value · Realmo final
$3.16M
Range $2.84M – $3.47M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$166 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$184,138
Tax year 2023
Assessed value
$1,980,901
Assessed 2023
Previous assessed
$1,771,610
+11.8% YoY
Effective rate
9.30%
On assessed value
Assessed land
$597,200
Assessed improvement
$1,383,701
Land market value
$2,140,500
Improvement market value
$4,959,500
Total market value
$7,100,000
Applied tax rate
17.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1983
Construction
BRICK
Heating
ZONE
Cooling
YES
Stories
4
Total area
19,000 SF
Lot
0.16 ac (6,882 SF)
Zoning code
2120
APN
1463-30-3-20-002
UPID
US13-0182926
Jurisdiction
BOULDER
Zoning & alternative use
2120 · Boulder, CO
Zoning 2120 · permitted uses
2120 · Boulder, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Boulder. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1983
Construction
BRICK
Heating
ZONE
Cooling
Yes
Stories
4
Lot
0.16 ac
Current owner
From public records · entity-resolved
Stephen D Tebo
Individual
Mailing address
3111 28TH ST, BOULDER, CO 80301-1315
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2024
—
Stephen D Tebo
—
Deed
related
$4,384,250 · First Interstate Bank
Jan 14, 2020
—
Tebo Ptshp Lllp
—
Deed Of Trust
related
$5,000,000 · Great Wstrn Bk
May 29, 2019
—
Stephen D Tebo
Eat-1903 LLC
Grant Deed
—
Apr 16, 2019
$6,500,000
Eat-1903 LLC
Boulder Registry Offices LLC
Grant Deed
$6,458,326 · Stephen D Tebo
—
—
Boulder Registry Offices LLC
—
Deed Of Trust
related
$3,000,000 · Firstbank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
