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Property profile & analytics
OFF-MARKET
Estimated value
$5,900,000
Hotels
2428 Patterson Rd Grand Junction, CO 81505-1215
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US13-0724663
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1998
Construction
STEEL FRAME
Total area
26,660 SF
Lot
2.42 ac (105,415 SF)
Zoning code
C-1
APN
2945-043-13-002
UPID
US13-0724663
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
-
Banfield Pet Hospital Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.39M
Blend (final)
Blend
$5.90M
Owner & transaction history
Evt Land Management LLC · 1 yrs held
Evt Land Management LLC
since 2024
Last sale
$5.9M
7 recorded transactions
Zoning & alternative use
C-1 · Grand Junction, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.8M
+70.5%
Commercial (general)
$4.7M
+38.4%
Warehouse, storage
$3.9M
+15.3%
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 Grand Junction submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Junction 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
$5,900,000
ML approach
$5,900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$5,815,000
Change: +71% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,720,000
Change: +38% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,930,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$3,745,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$3,605,000
Change: +6% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,580,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$5.90M
Range $5.31M – $6.49M · ±10% · vs last sale $5.90M (Oct 28 2024)
Last sale anchor
$5.90M
Oct 28 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
$221 / 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
$48,856
Tax year 2023
Assessed value
$691,020
Assessed 2023
Previous assessed
$588,340
+17.5% YoY
Effective rate
7.07%
On assessed value
Assessed land
$302,800
Assessed improvement
$388,220
Land market value
$1,085,300
Improvement market value
$1,391,480
Total market value
$2,476,780
Applied tax rate
10,301.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Rooms
10
Bathrooms
9
Total area
26,660 SF
Lot
2.42 ac (105,415 SF)
Zoning code
C-1
APN
2945-043-13-002
UPID
US13-0724663
Jurisdiction
MESA
Zoning & alternative use
C-1 · Grand Junction, CO
Zoning C-1 · permitted uses
C-1 · Grand Junction, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Junction. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$5.8M
COMMERCIAL (GENERAL)
Est. value
$4.7M
WAREHOUSE, STORAGE
Est. value
$3.9M
OFFICE BUILDING
Est. value
$3.7M
RETAIL STORES
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$3.6M
RESTAURANT
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (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
1998
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
10
Bathrooms
9
Lot
2.42 ac
Current owner
From public records · entity-resolved
Evt Land Management LLC
Entity
Free & Clear · 1 yrs held
Mailing address
19601 N 27TH AVE, PHOENIX, AZ 85027-4008
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2024
$5,900,000
Evt Land Management LLC
Grand Junction Patterson LLC
Special Warranty Deed
—
Sep 24, 2021
—
Junction Patterson LLC
—
Deed
related
$2,695,000 · Provident Bank
Jun 17, 2021
—
Bv Mcb Pet Lease Owner LLC
Campbell Properties Limited Partner
Correction Deed
related
—
Apr 22, 2021
$4,823,300
Grand Junction Patterson LLC
Bv Mcb Pet Lease Owner LLC
Special Warranty Deed
—
Apr 19, 2021
—
Bv Mcb Pet Lease Owner LLC
Campbell Properties Limited Partnrs
Special Warranty Deed
—
Apr 16, 2021
—
Bv Mcb Pet Lease Owner LLC
Campbell Properties Limited Partner
Special Warranty Deed
—
Aug 15, 2019
$4,920,000
Campbell Properties LP
Wikiup Ltd
Grant Deed
—
—
—
Pmt Grand Junction Inves LLC
—
Deed Of Trust
related
$2,245,000 · Trans Lending 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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