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Property profile & analytics
FOR SALE
Retail space
3501 Wolverine Dr Montrose, CO 81401
Entity Owned
9-yr Hold
Free & Clear
Property ID
US13-2267864
For Sale
1 / 2
$2,725,000
3501 Wolverine Dr, Montrose, CO 81401
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Construction
WOOD
Total area
4,550 SF
Lot
0.89 ac (38,745 SF)
APN
3993-042-55-002
UPID
US13-2267864
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
-
Mattress Firm Montrose CO Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$425k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$855k
Blend (final)
Blend
$640k
Owner & transaction history
Wwrd LLC · 9 yrs held
Wwrd LLC
since 2017
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$860,000
+35.7%
Commercial (general)
$810,000
+28.3%
Auto repair, garage
$670,000
+5.6%
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 Montrose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Montrose 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
$425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$635,000
Current use
OFFICE BUILDING
$860,000
Change: +36% · Conversion: Easy
COMMERCIAL (GENERAL)
$810,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$670,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$141 / 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
$28,877
Tax year 2023
Assessed value
$444,340
Assessed 2023
Previous assessed
$444,340
+0.0% YoY
Effective rate
6.50%
On assessed value
Assessed land
$159,270
Assessed improvement
$285,070
Land market value
$549,210
Improvement market value
$983,000
Total market value
$1,532,210
Applied tax rate
1,140.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
2016
Construction
WOOD
Heating
FORCED AIR
Cooling
REFRIGERATOR
Buildings
2
Stories
1
Units
1
Total area
4,550 SF
Lot
0.89 ac (38,745 SF)
APN
3993-042-55-002
UPID
US13-2267864
Jurisdiction
MONTROSE
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
RETAIL STORES Current
Est. value
$635,000
OFFICE BUILDING
Est. value
$860,000
COMMERCIAL (GENERAL)
Est. value
$810,000
AUTO REPAIR, GARAGE
Est. value
$670,000
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2016
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Wwrd LLC
Entity
Free & Clear · 9 yrs held
Mailing address
1015 E HYMAN AVE APT #3, ASPEN, CO 81611-4122
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2017
$2,535,000
Wwrd LLC
Ug Montrose Co 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.
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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