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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Apartment buildings
151 3rd St Palisade, CO 81526-5006
Trust Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US13-0568273
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,028 SF
Lot
2 ac (87,120 SF)
Zoning code
1225
APN
2937-091-04-003
UPID
US13-0568273
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
-
Orchard Valley Health and Rehabilitation Center Nursing Home
-
Peach Grove Rehab At Palisade Medical Clinic
-
Orchard Valley Health and Rehabilitation Center (formerly Palisades Living Center) Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$710k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.00M
Blend (final)
Blend
$855k
Owner & transaction history
Law,robert I Trust · 11 yrs held
Law,robert I Trust
since 2015
6 recorded transactions
Zoning & alternative use
1225 · Palisade, 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 Palisade submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palisade 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
$710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,340,000
Current use
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$33 / 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
$23,566
Tax year 2023
Assessed value
$292,310
Assessed 2023
Previous assessed
$272,690
+7.2% YoY
Effective rate
8.06%
On assessed value
Assessed land
$32,600
Assessed improvement
$259,710
Land market value
$486,530
Improvement market value
$3,876,220
Total market value
$4,362,750
Applied tax rate
14,500.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
YES
Stories
1
Units
91
Rooms
48
Total area
26,028 SF
Lot
2 ac (87,120 SF)
Zoning code
1225
APN
2937-091-04-003
UPID
US13-0568273
Jurisdiction
MESA
Zoning & alternative use
1225 · Palisade, COZoning 1225 · permitted uses
1225 · Palisade, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
1
Units
91
Rooms
48
Lot
2 ac
Current owner
From public records · entity-resolved
Law,robert I Trust
Trust
Mailing address
45 BROADWAY #390, NEW YORK, NY 10006-3007
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2015
—
Law,robert I Trust
Law Robert I
Quit Claim Deed
related
—
Jun 6, 2014
—
Smv Palisade LLC
—
Grant Deed
related
$700,000,000 · German American Cap
Apr 12, 2011
—
Smv Palisade LLC
—
Deed Of Trust
related
$735,000,000 · Us Bank Nat'l Assn 2006-tfl2
Nov 30, 2007
—
Smv Palisade LLC
—
Deed Of Trust
related
$920,000,000 · Column Financial INC
Jun 29, 2006
—
Smv Palisade LLC
—
Deed Of Trust
related
$800,000,000 · Column Financial INC
Jan 28, 2005
$960,000
Smv Palisade LLC
Living Centers-rocky Mtn INC
Deed Of Trust
$820,000,000 · Column Financial INC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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