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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Drug stores
61859 Us Hwy 285 Bailey, CO 80421-3500
Entity Owned
2-yr Hold
Free & Clear
Property ID
US13-1257131
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1980
Construction
FRAME
Total area
2,400 SF
Lot
0.86 ac (37,462 SF)
APN
R0017156
UPID
US13-1257131
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
$665k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$714k
Blend (final)
Blend
$705k
Owner & transaction history
Jorbay Mountain Properties LLC · 2 yrs held
Jorbay Mountain Properties LLC
since 2023
Last sale
$700,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$590,000
+27.5%
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 Bailey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bailey 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
$645,000
ML approach
$665,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$460,000
Current use
OFFICE BUILDING
$590,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$705k
Range $635k – $776k · ±10% · vs last sale $700k (Aug 14 2023)
Last sale anchor
$700k
Aug 14 2023
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
$294 / 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
$9,488
Tax year 2023
Assessed value
$178,174
Assessed 2023
Previous assessed
$125,376
+42.1% YoY
Effective rate
5.33%
On assessed value
Assessed land
$42,454
Assessed improvement
$135,720
Land market value
$146,394
Improvement market value
$468,000
Total market value
$614,394
Applied tax rate
5.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1980
Construction
FRAME
Heating
NONE
Stories
1
Rooms
5
Bathrooms
1
Total area
2,400 SF
Lot
0.86 ac (37,462 SF)
APN
R0017156
UPID
US13-1257131
Jurisdiction
PARK
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
$460,000
OFFICE BUILDING
Est. value
$590,000
RETAIL STORES Current
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
1980
Construction
FRAME
Heating
NONE
Stories
1
Rooms
5
Bathrooms
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Jorbay Mountain Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2260 E 34TH ST, TULSA, OK 74105-2754
Ownership since
2023
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
Aug 14, 2023
$700,000
Jorbay Mountain Properties LLC
61859 State Highway LLC
Warranty Deed
—
Apr 20, 2022
$900,000
61859 State Highway LLC
Jorbay Mountain Properties LLC
Warranty Deed
—
May 14, 2004
—
Phelps Jerry K Family Trust
Phelps,jerry K
Quit Claim 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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