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    1331 Platte St Sterling, CO 80751-2880
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    Property profile & analytics

    1331 Platte St, Sterling, CO 80751-2880

    View on Map
    • Apartment buildings
    • 30,380 SF
    • 3.00 lot acres
    Off-Market
    Last Sale May 29, 2020
    Property ID
    US13-1138424
    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
    $3,270,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Springdale Apartments / Apartment Building
    • Platte Valley Village / Apartment Building

    Property Details for 1331 Platte St

    Year built
    1995
    Construction
    WOOD
    Lot size
    3.00 lot acres
    Property type
    Apartment buildings
    APN
    38052530305910
    APU
    38052530305910

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 29, 2020 $1,046,243 Northeast Colorado Housing INC Housing Authority Of The City/ste Warranty Deed $628k · Miscellaneous Govt Agcy
    — — Housing Auth — Deed Of Trust · related $30k · Colorado Housing & Finance Aut

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,268,000
      Market price range: $597k - $3.27M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,980,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sterling
    County
    Logan
    State
    Colorado
    Longitude
    -103.233
    Latitude
    40.6276
    CBSA code
    44540
    CBSA name
    STERLING, CO MICROPOLITAN 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
    $0.00
    $0.00
    $0.00
    $230,540
    -
    $0.00
    $0.00
    $826,307

    Comparable in this City

    • Value Estimation by Request
      4,226 SF

      220 4th St

      APARTMENT HOUSE (5+ UNITS)
      220 4th St, Sterling, CO 80751-4375
      View Details
    • Value Estimation
      $13,170,000
      122,400 SF

      1200 5th St

      APARTMENT HOUSE (5+ UNITS)
      1200 5th St, Sterling, CO 80751-2653
      View Details
    • Value Estimation by Request
      6,648 SF

      1515 6th Ave

      APARTMENT HOUSE (5+ UNITS)
      1515 6th Ave, Sterling, CO 80751-4659
      View Details
    • Value Estimation by Request
      3,986 SF

      525 Clark St

      APARTMENT HOUSE (5+ UNITS)
      525 Clark St, Sterling, CO 80751-3053
      View Details
    • Value Estimation by Request
      3,736 SF

      1009 Holly Dr

      APARTMENT HOUSE (5+ UNITS)
      1009 Holly Dr, Sterling, CO 80751-4436
      View Details
    • Value Estimation by Request
      3,612 SF

      209 Lincoln St

      APARTMENT HOUSE (5+ UNITS)
      209 Lincoln St, Sterling, CO 80751-4040
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Sterling Duplex with Income Potential

      Duplex in Sterling, CO with two units and storage.
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    • New
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      Sterling Dual-Unit Income Property

      Charming dual-unit property near downtown Sterling, Colorado.
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    • $164,900
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      Sterling Multifamily Investment Opportunity

      Two houses on a large lot with expansion potential.
      404 Kochia Way, Sterling, CO 80751
      View Details
    • New
      $187,500
      1,344 SF

      Sterling Multifamily Investment Opportunity

      Two move-in ready homes on consolidated lots in Sterling, Colorado.
      901 Phelps St, Sterling, CO 80751
      View Details
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      Income-Producing Four-Unit Corner Lot

      Four-unit income property with strong rental history on corner lot.
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    Similar Nearby for Lease

    • Contact for pricing
      3,840 SF

      Sterling Retail Space For Lease

      Retail spaces available in Sterling's main retail hub.
      1217-1327 W Main St, Sterling, CO 80751
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      Retail/Office Space in Sterling, CO

      Vacant retail/office space at a high-traffic intersection.
      311 West Main St, Sterling, CO 80751
      View Details
    • Sponsored
      Contact for pricing

      CO, Sterling - S 3rd St.

      Discover many ways to work your way in CO, Sterling - S 3rd St.
      214 3Rd St, Sterling, CO 80751
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    Sterling, CO 80751-2880
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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.

    More about this property
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