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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Warehouses
24194 Rd L L Cortez, CO 81321-8959
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US13-1809622
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2009
Total area
8,196 SF
Lot
4.25 ac (185,130 SF)
Zoning code
COMZ
APN
561122200020
UPID
US13-1809622
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
$1.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$888k
Blend (final)
Blend
$1.10M
Owner & transaction history
Hillcrest Rentals LLC · 2 yrs held
Hillcrest Rentals LLC
since 2024
Last sale
$1.1M
2 recorded transactions
Zoning & alternative use
COMZ · Cortez, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+67.3%
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
$1,100,000
ML approach
$1,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$840,000
Current use
OFFICE BUILDING
$1,400,000
Change: +67% · Conversion: Difficult
RETAIL STORES
$720,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±10% · vs last sale $1.10M (Jan 17 2024)
Last sale anchor
$1.10M
Jan 17 2024
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
$134 / 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
$6,647
Tax year 2023
Assessed value
$154,246
Assessed 2023
Previous assessed
$154,246
+0.0% YoY
Effective rate
4.31%
On assessed value
Assessed land
$16,159
Assessed improvement
$138,087
Land market value
$55,722
Improvement market value
$476,162
Total market value
$531,884
Applied tax rate
12,004.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2009
Heating
NONE
Buildings
2
Stories
1
Total area
8,196 SF
Lot
4.25 ac (185,130 SF)
Zoning code
COMZ
APN
561122200020
UPID
US13-1809622
Jurisdiction
MONTEZUMA
Zoning & alternative use
COMZ · Cortez, CO
Zoning COMZ · permitted uses
COMZ · 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
WAREHOUSE, STORAGE Current
Est. value
$840,000
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$720,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RETAIL STORES
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
Heating
NONE
Stories
1
Buildings
2
Lot
4.25 ac
Current owner
From public records · entity-resolved
Hillcrest Rentals LLC
Entity
Mailing address
24194 RD L STE 1A, CORTEZ, CO 81321-8959
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2024
$1,100,000
Hillcrest Rentals LLC
The Faucet Company LLC
Special Warranty Deed
$1,007,770 · First National Bank
Aug 12, 2019
—
The Faucet Company LLC
—
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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