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Property profile & analytics
OFF-MARKET
Estimated value
$795,000
Retail space
1423 Main St A Cortez, CO 81321-2912
Individually Owned
21-yr Hold
Free & Clear
Property ID
US13-1959727
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Total area
5,712 SF
Lot
0.45 ac (19,602 SF)
Zoning code
C
APN
561125313001
UPID
US13-1959727
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
-
Papa Murphy's | Take 'N' Bake Pizza Restaurant
-
Mail Room & Copy Center Courier Service Postal Service
-
Second Time Fashions Clothing & Fashion Store
-
Colorado Farm Bureau Insurance-Brianna Allison Insurance Agency
-
Colorado Farm Bureau Insurance Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$777k
Blend (final)
Blend
$795k
Owner & transaction history
Leslie Cooper · 21 yrs held
Leslie Cooper
since 2005
1 recorded transaction
Zoning & alternative use
C · Cortez, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$975,000
+94.8%
Warehouse, storage
$585,000
+16.5%
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 Cortez submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cortez 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$500,000
Current use
OFFICE BUILDING
$975,000
Change: +95% · Conversion: Easy
WAREHOUSE, STORAGE
$585,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$795k
Range $716k – $875k · ±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
$139 / 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
$10,044
Tax year 2023
Assessed value
$196,582
Assessed 2023
Previous assessed
$170,876
+15.0% YoY
Effective rate
5.11%
On assessed value
Assessed land
$56,846
Assessed improvement
$139,736
Land market value
$196,020
Improvement market value
$481,850
Total market value
$677,870
Applied tax rate
11,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2001
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
5,712 SF
Lot
0.45 ac (19,602 SF)
Zoning code
C
APN
561125313001
UPID
US13-1959727
Jurisdiction
MONTEZUMA
Zoning & alternative use
C · Cortez, CO
Zoning C · permitted uses
C · Cortez, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cortez. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$500,000
OFFICE BUILDING
Est. value
$975,000
WAREHOUSE, STORAGE
Est. value
$585,000
RETAIL STORES Current
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
0.45 ac
Current owner
From public records · entity-resolved
Leslie Cooper
Individual
Free & Clear · 21 yrs held
Mailing address
4440 MORRIS ST NE APT #228, ALBUQUERQUE, NM 87111-6950
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2005
$950,000
Leslie Cooper
Gunther E Hardt
Warranty Deed
—
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.
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