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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Hotels
309 8th St Palisade, CO 81526-8807
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US13-0071797
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1957
Construction
WOOD
Total area
3,544 SF
Lot
0.51 ac (22,216 SF)
Zoning code
CB
APN
2941-031-00-005
UPID
US13-0071797
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
-
Peachwood Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Diorio's of Palisade Restaurant
-
Vinyl Revival (Bike/Boat/Book/etc) Store
-
Sinclair Gas Station Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$795k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$784k
Blend (final)
Blend
$765k
Owner & transaction history
309 W 8th Street LLC · 6 yrs held
309 W 8th Street LLC
since 2020
Last sale
$725,000
7 recorded transactions
Zoning & alternative use
CB · Palisade, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$580,000
+18.4%
Warehouse, storage
$500,000
+1.9%
Office building
$495,000
+1.4%
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 Palisade submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palisade 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
$805,000
ML approach
$795,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$490,000
Current use
COMMERCIAL (GENERAL)
$580,000
Change: +18% · Conversion: Difficult
WAREHOUSE, STORAGE
$500,000
Change: +2% · Conversion: Difficult
OFFICE BUILDING
$495,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$480,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±10% · vs last sale $725k (Jul 16 2020)
Last sale anchor
$725k
Jul 16 2020
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
$216 / 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
$16,130
Tax year 2023
Assessed value
$199,960
Assessed 2023
Previous assessed
$125,680
+59.1% YoY
Effective rate
8.07%
On assessed value
Assessed land
$64,030
Assessed improvement
$135,930
Land market value
$229,490
Improvement market value
$487,190
Total market value
$716,680
Applied tax rate
14,500.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1957
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
1
Units
2
Rooms
10
Bathrooms
1
Total area
3,544 SF
Lot
0.51 ac (22,216 SF)
Zoning code
CB
APN
2941-031-00-005
UPID
US13-0071797
Jurisdiction
MESA
Zoning & alternative use
CB · Palisade, CO
Zoning CB · permitted uses
CB · Palisade, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palisade. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$490,000
COMMERCIAL (GENERAL)
Est. value
$580,000
WAREHOUSE, STORAGE
Est. value
$500,000
OFFICE BUILDING
Est. value
$495,000
RETAIL STORES
Est. value
$480,000
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1957
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
2
Rooms
10
Bathrooms
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
309 W 8th Street LLC
Entity
Mailing address
202 NN AVE #173, GRAND JUNCTION, CO 81501-7540
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2022
—
309 W 8th Street LLC
—
Deed
related
$75,000 · Oakstar Bank NA
Jul 16, 2020
$725,000
309 W 8th Street LLC
Sam Lem Hean
Special Warranty Deed
$515,240 · Alpine Bank
Oct 21, 2016
$520,000
Sam Lem Hean
Donald R Wood
Warranty Deed
$390,000 · Alpine Bank
Jun 20, 2016
—
Donald R Wood
—
Deed
related
—
Jul 13, 2005
$1,100,000
Donald R Wood
Charles M Nelson
Warranty Deed
$535,868 · Timberline Bank
Jan 13, 1999
$387,500
Nelson Markets INC
Meens,laureen K
Grant Deed
$365,000 · Norwest Bank Colorado
—
—
Donald R Wood
—
Loan Modification
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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