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Property profile & analytics
OFF-MARKET
Estimated value
$2,145,000
Retail space
615 Mitchell Way Erie, CO 80516-5437
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US13-1187250
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2009
Total area
11,295 SF
Lot
2.22 ac (96,703 SF)
APN
R5341308
UPID
US13-1187250
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
-
Patil Orthodontics - Erie Dental Office
-
Wettstein Kelly B DDS Dental Office
-
Dr. Andrew Holecek, DDS Dental Office
-
Patil Raj DDS Dental Office
-
She Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.97M
Comparable Approach
Comparable
$2.63M
Blend (final)
Blend
$2.15M
Owner & transaction history
Coal Creek Center Lot 6 LLC · 6 yrs held
Coal Creek Center Lot 6 LLC
since 2020
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.2M
+13.6%
Restaurant
$2.2M
+11.5%
Office building
$2.1M
+6.9%
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%
$2,130,000
6.5%
$1,965,000
7%
$1,825,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,935,000
Current use
INDUSTRIAL (GENERAL)
$2,200,000
Change: +14% · Conversion: Difficult
RESTAURANT
$2,160,000
Change: +11% · Conversion: Easy
OFFICE BUILDING
$2,070,000
Change: +7% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,950,000
Change: +1% · Conversion: Easy
MEDICAL BUILDING
$1,885,000
Change: -3% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,845,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.15M
Range $1.93M – $2.36M · ±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
$190 / 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
$109,147
Tax year 2023
Assessed value
$1,067,170
Assessed 2023
Previous assessed
$1,067,170
+0.0% YoY
Effective rate
10.23%
On assessed value
Assessed land
$445,240
Assessed improvement
$621,930
Land market value
$1,595,853
Improvement market value
$2,229,147
Total market value
$3,825,000
Applied tax rate
1,333.0000
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
Off-Market
Year built
2009
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
11,295 SF
Lot
2.22 ac (96,703 SF)
APN
R5341308
UPID
US13-1187250
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
RETAIL STORES Current
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$2.2M
RESTAURANT
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.8M
RETAIL STORES Current
INDUSTRIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2009
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
2.22 ac
Current owner
From public records · entity-resolved
Coal Creek Center Lot 6 LLC
Entity
Mailing address
720 AUSTIN AVE STE #200, ERIE, CO 80516-2423
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2020
—
Coal Creek Center Lot 6 LLC
—
Deed
related
$2,267,022 · Wells Fargo Bk
—
—
Coal Creek Center Lot 6 LLC
—
Loan Modification
related
$2,267,022 · Wells Fargo Bk
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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