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Property profile & analytics
OFF-MARKET
Estimated value
$2,925,000
Apartment buildings
348 Eddy Dr Grand Junction, CO 81501-4715
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US13-1627344
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2021
Construction
WOOD
Total area
37,416 SF
Lot
3.3 ac (143,729 SF)
Zoning code
I-2
APN
2945-244-63-002
UPID
US13-1627344
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.75M
Blend (final)
Blend
$2.93M
Owner & transaction history
Eddy Multifamily LLC · 2 yrs held
Eddy Multifamily LLC
since 2024
3 recorded transactions
Zoning & alternative use
I-2 · Grand Junction, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.5M
+75.6%
Medical building
$3.0M
+52.1%
Retail stores
$2.8M
+39.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,980,000
Current use
RESTAURANT
$3,475,000
Change: +76% · Conversion: Difficult
MEDICAL BUILDING
$3,010,000
Change: +52% · Conversion: Moderate
RETAIL STORES
$2,755,000
Change: +39% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,540,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$2,485,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$2.93M
Range $2.63M – $3.22M · ±10%
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
$78 / 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
$63,721
Tax year 2023
Assessed value
$841,730
Assessed 2023
Previous assessed
$220,590
+281.6% YoY
Effective rate
7.57%
On assessed value
Assessed land
$46,700
Assessed improvement
$795,030
Land market value
$696,950
Improvement market value
$11,866,070
Total market value
$12,563,020
Applied tax rate
10,815.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2021
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
3
Units
36
Total area
37,416 SF
Lot
3.3 ac (143,729 SF)
Zoning code
I-2
APN
2945-244-63-002
UPID
US13-1627344
Jurisdiction
MESA
Zoning & alternative use
I-2 · Grand Junction, CO
Zoning I-2 · permitted uses
I-2 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.0M
RESTAURANT
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.0M
RETAIL STORES
Est. value
$2.8M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
2021
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
3
Units
36
Lot
3.3 ac
Current owner
From public records · entity-resolved
Eddy Multifamily LLC
Entity
Mailing address
345 S LINCOLN AVE #206, STEAMBOAT SPRINGS, CO 80487
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2024
—
Eddy Multifamily LLC
The Eddy At Grand Junction LLC
Special Warranty Deed
$14,153,600 · Greystone Funding Company LLC
Jan 9, 2020
$2,400,000
Eddy At Grand Junction LLC
Brady Trucking Land Hldgs LLC
Grant Deed
—
Jun 5, 2006
—
Slb Ents LLC
Grand Valley By-products
Grant 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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