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    Property profile & analytics

    245 3rd Ave Longmont, CO 80501-5501

    • Warehouses
    • 2,880 SF
    • 0.30 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    9%
    Warehouses
    Location Intelligence
    Property ID
    US13-0530805
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • In Boost Performance / Auto Repair Shop / Auto Parts Store
    • TheBoostCreep Ltd. / Auto Repair Shop / Auto Air Conditioning Service

    Property Details for 245 3rd Ave

    Year built
    1946
    Construction
    CONCRETE BLOCKS
    Lot size
    0.30 lot acres
    Property size
    2,880 SF
    Zone code
    2112
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    1315-03-4-15-006
    APU
    131503415006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $520,000
      6.5%
      $480,000
      7%
      $445,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $455,000
      Market price range: $341k - $676k
      AI Estimate
      $248,000
      Market price range: $132k - $451k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Longmont
    County
    Boulder
    State
    Colorado
    Longitude
    -105.097
    Latitude
    40.1636
    CBSA code
    14500
    CBSA name
    BOULDER, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,908
    $114,195
    $54,293
    $168,488
    -
    $409,300
    $194,600
    $603,900

    Comparable in this City

    • Value Estimation
      $1,460,000
      54,000 SF

      1844 Nelson Rd

      MINI-WAREHOUSE, STORAGE • 54,000 SF
      1844 Nelson Rd, Longmont, CO 80501-6849
      View Details
    • Value Estimation
      $390,000
      5,210 SF

      1120 Delaware Ave

      MINI-WAREHOUSE, STORAGE • 5,210 SF
      1120 Delaware Ave, Longmont, CO 80501-6141
      View Details
    • Value Estimation
      $550,000
      15,466 SF

      230 Golden Rod Ct

      MINI-WAREHOUSE, STORAGE • 15,466 SF
      230 Golden Rod Ct, Longmont, CO 80501-6040
      View Details
    • Value Estimation
      $485,000
      1,800 SF

      126 Main St

      MINI-WAREHOUSE, STORAGE • 1,800 SF
      126 Main St, Longmont, CO 80501-6216
      View Details
    • Value Estimation
      $450,000
      5,000 SF

      105 3rd Ave

      MINI-WAREHOUSE, STORAGE • 5,000 SF
      105 3rd Ave, Longmont, CO 80501-5695
      View Details
    • Value Estimation
      $500,000
      11,180 SF

      1140 Boston Ave

      MINI-WAREHOUSE, STORAGE • 11,180 SF
      1140 Boston Ave, Longmont, CO 80501-5889
      View Details

    Similar Nearby for Sale

    • $1,100,000
      54,801 SF

      Longmont Industrial Redevelopment

      54,801 SF Warehouse, Flex & Distribution
      71 Bowen St, Longmont, CO 80501
      View Details
    • $2,500,000
      7,200 SF

      Modern Industrial Building with Yard

      7,200 SF industrial building with secure outdoor storage.
      5741 Majestic St, Frederick, CO 80501
      View Details
    • $2,700,000
      11,680 SF

      Longmont Flex Space Investment

      11,680 SF Flex Office, Multi-Tenant
      1110 Boston Ave, Longmont, CO 80501
      View Details
    • $630,000
      0.99 Acres

      Longmont Commercial Land - $630K

      Prime 0.99-acre lot, mixed-use zoning.
      919 Sherman St, Longmont, CO 80501
      View Details
    • $3,500,000
      23,043 SF

      Fully Leased Industrial/Flex Compound

      Industrial/Flex compound on 1.83 acres with easy I-25 access.
      8475 Frontage Rd, Longmont, CO 80501
      View Details
    • $4,250,000
      14,900 SF

      High-Visibility Longmont Retail Space

      Prime corner lot, 14,900 sq ft, lease or sale.
      600 Main St, Longmont, CO 80501
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      7,836 SF

      Longmont Industrial Building with Yard

      Spacious industrial building with secure yard in central Longmont.
      1501 Nelson Rd, Longmont, CO 80501
      View Details
    • $16 SF/Yr
      2,133 SF

      Longmont Flex Space Available

      Endcap industrial/warehouse space with front office in a retail center.
      1321-1329 Sherman Dr, Longmont, CO 80501
      View Details
    • $13 SF/Yr
      6,400 SF

      Longmont Flex Space Available

      Service retail/flex space with warehouse in Longmont.
      624-640 S Sunset St, Longmont, CO 80501
      View Details
    • $12 SF/Yr
      9,291 SF

      Industrial Warehouse with Cold Storage

      Industrial warehouse space for sublease featuring refrigerated cold storage.
      218 Kimbark St, Longmont, CO 80501
      View Details
    • $11 SF/Yr
      2,140 SF

      Longmont Warehouse with Drive-In Access

      Flexible warehouse space with drive-in access in central Longmont.
      1336 Sherman Dr, Longmont, CO 80501
      View Details
    • Contact for pricing
      70,000 SF

      Industrial Build-to-Suit Opportunity

      Industrial space for lease in southwest Longmont.
      1351 S Sunset St, Longmont, CO 80501
      View Details
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    245 3rd Ave
    Longmont, CO 80501-5501
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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