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Property profile & analytics
FOR SALE
Commercial real estate
2302 Devereux Rd Glenwood Springs, CO 81601
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US13-2823511
For Sale
1 / 2
$5,995,000
2302 Devereux Rd, Glenwood Springs, CO 81601
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2009
Construction
METAL FRAME
Total area
15,326 SF
Lot
1.33 ac (57,935 SF)
APN
218506410012
UPID
US13-2823511
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.44M
Comparable Approach
Comparable
$3.91M
Blend (final)
Blend
$3.66M
Owner & transaction history
Shona Hoffmeister · 3 yrs held
Shona Hoffmeister
since 2023
7 recorded transactions
Zoning & alternative use
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 Glenwood Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glenwood Springs 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%
$2,640,000
6.5%
$2,440,000
7%
$2,265,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,435,000
Current use
OFFICE BUILDING
$4,625,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$3.66M
Range $3.29M – $4.02M · ±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
$238 / 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
$87,222
Tax year 2023
Assessed value
$1,207,810
Assessed 2023
Previous assessed
$893,210
+35.2% YoY
Effective rate
7.22%
On assessed value
Assessed land
$387,930
Assessed improvement
$819,880
Land market value
$1,390,440
Improvement market value
$2,938,650
Total market value
$4,329,090
Applied tax rate
52.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
2009
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
4
Bathrooms
6
Total area
15,326 SF
Lot
1.33 ac (57,935 SF)
APN
218506410012
UPID
US13-2823511
Jurisdiction
GARFIELD
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
COMMERCIAL (GENERAL) Current
Est. value
$5.4M
OFFICE BUILDING
Est. value
$4.6M
COMMERCIAL (GENERAL) Current
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
2009
Construction
METAL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
4
Bathrooms
6
Lot
1.33 ac
Current owner
From public records · entity-resolved
Shona Hoffmeister
Individual
Mailing address
11453 S LONE PEAK PKWY, DRAPER, UT 84020-6872
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 19, 2023
—
Shona Hoffmeister
Jon Isham
Special Warranty Deed
—
Feb 23, 2021
$4,300,000
Kmam Real Estate LLC
2302 Devereux Rd LLC
Warranty Deed
$3,900,000 · Wells Fargo Bank NA
May 24, 2018
$3,400,000
2302 Devereux Rd LLC
Western Co Motor Sports LLC
Grant Deed
—
Sep 16, 2015
—
Western Colorado Motor Sports LLC
Western Colorado Motor Sports Land
Special Warranty Deed
—
Jun 1, 2006
$2,200,100
Western Co Motor Sports Land A
Grand Junction Harley Davidson
Warranty Deed
$250,000 · Weststar Bank
Jan 13, 2006
$2,201,000
Grand Junction Harley Davidson INC
Toucan Land Co Rlllp
Warranty Deed
$1,748,000 · Wells Fargo Bank NA
Oct 27, 2005
—
Toucan Land Co Rlllp
—
Trustees Deed
related
$700,000 · Bank Of Colorado
—
—
Western Colorado Motor Sports
—
Deed Of Trust
related
$8,120,000 · Bank Of America
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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