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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Turn key restaurants
500 Briggs St Erie, CO 80516-5077
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US13-0141707
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1889
Total area
4,407 SF
Lot
0.09 ac (3,920 SF)
APN
R5757386
UPID
US13-0141707
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
-
Custom Environmental Design Inc. Landscaping General Contractor
-
Pure Risk Advisors Insurance Agency
-
Erie Economic Development Council Social Service Agency
-
The Old Mine Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$735k
Blend (final)
Blend
$735k
Owner & transaction history
Tg Properties LLC · 14 yrs held
Tg Properties LLC
since 2011
4 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 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
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
RESTAURANT
$845,000
Current use
OFFICE BUILDING
$810,000
Change: -4% · Conversion: Moderate
COMMERCIAL (GENERAL)
$760,000
Change: -10% · Conversion: Easy
RETAIL STORES
$755,000
Change: -10% · Conversion: Easy
MEDICAL BUILDING
$735,000
Change: -13% · Conversion: Difficult
WAREHOUSE, STORAGE
$720,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$735k
Range $662k – $809k · ±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
$167 / 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
$26,460
Tax year 2023
Assessed value
$265,050
Assessed 2023
Previous assessed
$265,050
+0.0% YoY
Effective rate
9.98%
On assessed value
Assessed land
$15,690
Assessed improvement
$249,360
Land market value
$56,250
Improvement market value
$893,750
Total market value
$950,000
Applied tax rate
5,378.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1889
Heating
SPACE
Buildings
2
Stories
2
Rooms
4
Bathrooms
1
Total area
4,407 SF
Lot
0.09 ac (3,920 SF)
APN
R5757386
UPID
US13-0141707
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
RESTAURANT Current
Est. value
$845,000
OFFICE BUILDING
Est. value
$810,000
COMMERCIAL (GENERAL)
Est. value
$760,000
RETAIL STORES
Est. value
$755,000
MEDICAL BUILDING
Est. value
$735,000
WAREHOUSE, STORAGE
Est. value
$720,000
RESTAURANT Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1889
Heating
SPACE
Stories
2
Buildings
2
Rooms
4
Bathrooms
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Tg Properties LLC
Entity
Mailing address
PO BOX 1274, ERIE, CO 80516-1274
Ownership since
2011
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 27, 2023
—
Tg Properties LLC
—
Deed
related
$415,000 · High Country Bank
Aug 29, 2011
$379,002
Tg Properties LLC
David Michael Davis
Special Warranty Deed
$344,600 · Wells Fargo Bank NA
—
—
David M Davis
—
Deed Of Trust
related
$126,719 · Darrell D & Frances L Thomas
—
—
David M Davis
—
Deed Of Trust
related
$25,000 · Darrell D Thomas
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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