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Property profile & analytics
OFF-MARKET
Showrooms
37801 51st Ave4e Watkins, CO 80137-7132
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US13-0713041
Property summary
AI-generated overview
This exceptional 3,000-square-foot airplane hangar in Watkins, Colorado, is offered at $475,000. Located at 37801 East 51st Avenue, 80137, in Adams County, this special-purpose property boasts a double-height design and a large metal structure loft, providing ample storage and workspace. The hangar includes a full heated bathroom with a shower, ensuring comfort and convenience. Heating is provided by a gas-fired system. For automotive enthusiasts, a hydraulic car lift is included. The property also features an air hose/compressor system, a hot water heater, and a closet for additional storage. Abundant lighting and electrical outlets are strategically placed throughout, and Wi-Fi is available. This turnkey operation presents a unique investment opportunity in a desirable location. The price per square foot is $158.33. The property is priced at $475,000.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2004
Total area
2,875 SF
APN
R0161882
UPID
US13-0713041
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Jennifer Marie Smerud · 3 yrs held
Jennifer Marie Smerud
since 2022
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Watkins submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watkins 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,450
Tax year 2023
Assessed value
$34,990
Assessed 2023
Previous assessed
$29,180
+19.9% YoY
Effective rate
7.00%
On assessed value
Assessed improvement
$34,990
Improvement market value
$125,400
Total market value
$125,400
Applied tax rate
396.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2004
Heating
NONE
Cooling
NONE
Stories
1
Total area
2,875 SF
APN
R0161882
UPID
US13-0713041
Jurisdiction
ADAMS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2004
Heating
NONE
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Jennifer Marie Smerud
Individual
Free & Clear · 3 yrs held
Mailing address
2519 MIDDLETON BCH RD, MIDDLETON, WI 53562-2912
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2022
—
Jennifer Marie Smerud
Donald H Alvarado
Beneficiary Deed
—
Mar 9, 2021
—
Richard A Lemon & Christina C Lemon
Richard A Lemon
Intrafamily Transfer
related
—
Jul 22, 2016
—
Richard A Lemon
Edwards,james W
Quit Claim Deed
related
—
Feb 13, 2009
—
James W Edwards
Edwards,terry H
Quit Claim Deed
related
—
Feb 14, 2005
—
James W Edwards
American Hangars LLC
Grant Deed
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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