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Property profile & analytics
OFF-MARKET
Estimated value
$1,220,000
Medical Office Space
1551 Milky Way Thornton, CO 80260-4713
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US13-0811281
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Total area
5,769 SF
Lot
0.97 ac (42,253 SF)
APN
R0059360
UPID
US13-0811281
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.34M
CAP Approach
CAP
$1.18M
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.22M
Owner & transaction history
1651 Milky Way LLC · 5 yrs held
1651 Milky Way LLC
since 2020
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.9M
+6.9%
Commercial (general)
$1.9M
+6.6%
Retail stores
$1.9M
+5.9%
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 Thornton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Thornton 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
$1,280,000
ML approach
$1,335,000
CAP Approach
CAP Return
Estimation
6%
$1,275,000
6.5%
$1,175,000
7%
$1,090,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,750,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,870,000
Change: +7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,865,000
Change: +7% · Conversion: Easy
RETAIL STORES
$1,855,000
Change: +6% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,795,000
Change: +2% · Conversion: Moderate
OFFICE BUILDING
$1,475,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$1.22M
Range $1.10M – $1.34M · ±10% · vs last sale $1.10M (Sep 3 2020)
Last sale anchor
$1.10M
Sep 3 2020
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
$211 / 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
$32,294
Tax year 2023
Assessed value
$280,110
Assessed 2023
Previous assessed
$336,460
-16.7% YoY
Effective rate
11.53%
On assessed value
Assessed land
$117,720
Assessed improvement
$162,390
Land market value
$421,940
Improvement market value
$582,060
Total market value
$1,004,000
Applied tax rate
178.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
5,769 SF
Lot
0.97 ac (42,253 SF)
APN
R0059360
UPID
US13-0811281
Jurisdiction
ADAMS
Zoning & alternative use
Zoning · permitted uses
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
MEDICAL BUILDING Current
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.9M
RETAIL STORES
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.5M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1986
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
1651 Milky Way LLC
Entity
Mailing address
620 KIMBARK ST, LONGMONT, CO 80501-4911
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2020
—
1551 Milky Way LLC
—
Deed
related
$456,000 · Colorado Lending Source Ltd
Sep 3, 2020
$1,100,000
1651 Milky Way LLC
The Wright Family 2009 Irrevocable
Special Warranty Deed
$440,000 · Anb Bank
Oct 28, 2015
—
Wright 2009 Family Trust
Robert C Wright
Quit Claim Deed
related
—
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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