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Property profile & analytics
OFF-MARKET
Estimated value
$2,000,000
Commercial real estate
3000 Airport Dr 405 Erie, CO 80516-8122
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US13-2220229
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2017
Total area
7,700 SF
APN
R8975304
UPID
US13-2220229
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
-
Centripetal Fitness and Nutrition Gym & Fitness Center
-
Nuf Said Marketing & Advertising Advertising Agency
-
Gemini Extraction & Refinement Production Facility
-
Nassar Development Construction Company General Contractor
-
Magnus Anderson - Hardwood Floors General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.67M
Blend (final)
Blend
$2.00M
Owner & transaction history
Flight 405 LLC · 2 yrs held
Flight 405 LLC
since 2024
Last sale
$2.0M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.8M
+108.8%
Industrial (general)
$1.5M
+12.8%
Restaurant
$1.5M
+10.8%
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 Erie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Erie 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
$2,000,000
ML approach
$2,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,330,000
Current use
AUTO REPAIR, GARAGE
$2,775,000
Change: +109% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,500,000
Change: +13% · Conversion: Moderate
RESTAURANT
$1,470,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$1,410,000
Change: +6% · Conversion: Easy
RETAIL STORES
$1,320,000
Change: -1% · Conversion: Easy
MEDICAL BUILDING
$1,285,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$1,260,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.00M
Range $1.80M – $2.20M · ±10% · vs last sale $2.00M (Apr 5 2024)
Last sale anchor
$2.00M
Apr 5 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
$260 / 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
$45,155
Tax year 2023
Assessed value
$446,400
Assessed 2023
Previous assessed
$446,400
+0.0% YoY
Effective rate
10.12%
On assessed value
Assessed improvement
$446,400
Improvement market value
$1,600,000
Total market value
$1,600,000
Applied tax rate
1,333.0000
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
Off-Market
Year built
2017
Heating
YES
Stories
1
Total area
7,700 SF
APN
R8975304
UPID
US13-2220229
Jurisdiction
WELD
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
$1.3M
AUTO REPAIR, GARAGE
Est. value
$2.8M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
RESTAURANT
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
2017
Heating
YES
Stories
1
Current owner
From public records · entity-resolved
Flight 405 LLC
Entity
Mailing address
1196 DIAMOND CIR STE Q, LAFAYETTE, CO 80026-9328
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2024
$2,000,000
Flight 405 LLC
Creative Mechanics LLC
Warranty Deed
$1,600,000 · Jpmorgan Chase Bank NA
Nov 17, 2021
—
Marketwise LLC
Asmith Farms LLC
Quit Claim Deed
related
—
Nov 17, 2021
$1,382,770
Creative Mechanics LLC
Marketwise LLC
Special Warranty Deed
—
Oct 7, 2021
$180,000
Marketwise LLC
3000 Airport Drive LLC
Special Warranty Deed
—
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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