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Property profile & analytics
OFF-MARKET
Estimated value
$9,010,000
Manufacturing properties
2120 Miller Dr Longmont, CO 80501-6789
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US13-0377340
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1986
Construction
CONCRETE BLOCKS
Total area
27,360 SF
Lot
2.52 ac (109,902 SF)
Zoning code
3115
APN
1315-16-2-06-003
UPID
US13-0377340
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
-
Scythe Robotics Production Facility Industrial Manufacturer
-
Myers Garage Doors Building Supply General Contractor
-
Veritex Manufacturing Services Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.56M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.01M
Owner & transaction history
Lamar Station Investments LLC · 2 yrs held
Lamar Station Investments LLC
since 2023
Last sale
$9.6M
7 recorded transactions
Zoning & alternative use
3115 · Longmont, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Development Code
Top alternative use upside
Restaurant
$13.3M
+98.2%
Auto repair, garage
$10.7M
+59.9%
Office building
$8.6M
+28.1%
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 Longmont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Longmont 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
$8,325,000
ML approach
$8,555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,710,000
Current use
RESTAURANT
$13,305,000
Change: +98% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,735,000
Change: +60% · Conversion: Easy
OFFICE BUILDING
$8,600,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,540,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$9.01M
Range $8.11M – $9.91M · ±10% · vs last sale $9.58M (Oct 26 2023)
Last sale anchor
$9.58M
Oct 26 2023
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
$329 / 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
$43,738
Tax year 2023
Assessed value
$578,038
Assessed 2023
Previous assessed
$746,750
-22.6% YoY
Effective rate
7.57%
On assessed value
Assessed land
$194,937
Assessed improvement
$383,101
Land market value
$1,011,000
Improvement market value
$2,359,000
Total market value
$3,370,000
Applied tax rate
680.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1986
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Stories
1
Total area
27,360 SF
Lot
2.52 ac (109,902 SF)
Zoning code
3115
APN
1315-16-2-06-003
UPID
US13-0377340
Jurisdiction
BOULDER
Zoning & alternative use
3115 · Longmont, COZoning 3115 · permitted uses
3115 · Longmont, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Development Code
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.7M
RESTAURANT
Est. value
$13.3M
AUTO REPAIR, GARAGE
Est. value
$10.7M
OFFICE BUILDING
Est. value
$8.6M
COMMERCIAL (GENERAL)
Est. value
$7.5M
INDUSTRIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Stories
1
Lot
2.52 ac
Current owner
From public records · entity-resolved
Lamar Station Investments LLC
Entity
Mailing address
789 N SHERMAN ST STE #430, DENVER, CO 80203-3531
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 26, 2023
$9,584,200
Lamar Station Investments LLC
Bpvif V Holdings 11 LLC
Special Warranty Deed
—
May 3, 2021
—
Bpvif V Holdings II LLC
—
Deed
related
$23,570,000 · Us Bank NA
Mar 4, 2021
$7,668,000
Bpvif V Holdings 11 LLC
Gcc Longmont Holdings LP
Special Warranty Deed
—
Sep 5, 2019
—
Gcc Longmont Holdings LP
—
Grant Deed
related
$56,500,000 · Vmc Lender LLC
May 25, 2017
$69,600,000
Gcc Longmont Holdings LP
Longmont Diagonal Invs LLC
Trustees Deed
related
$65,000,000 · Acrc Lender
Nov 26, 2014
—
Longmont Diagonal Invs LLC
—
Loan Modification
related
$154,150,000 · General Elec Cap
Oct 12, 2012
—
Longmont Diagonal Invs LP
Circle Capital Longmont LLC
Quit Claim Deed
related
$61,000,000 · General Elec Cap
Oct 12, 2012
$58,300,000
Longmont Diagonal Invs LP
Circle Capital Longmont LLC
Grant Deed
related
—
Apr 21, 2005
$142,000,000
Circle Capital Longmont LLC
Pratt Land B LLC
Grant Deed
related
$99,400,000 · Morgan Stanley Mtg Capital INC
Sep 29, 2004
—
Pratt Land B LLC
Pratt Land A1 LLC
Quit Claim Deed
related
—
Jan 26, 1983
$142,400
—
—
Grant Deed
related
—
—
—
Longmont Diagonal Invs LP
—
Deed Of Trust
related
$61,000,000 · General Electric Capital Corp
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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