Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Day care centers
641 Mitchell Way Erie, CO 80516-5436
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US13-1550715
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
2016
Total area
8,670 SF
Lot
1.89 ac (82,459 SF)
APN
R5341108
UPID
US13-1550715
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
-
Kiddie Academy of Erie Daycare Center
-
Colorado Russian Center Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$990k
Owner & transaction history
Jt Strips LLC · 10 yrs held
Jt Strips LLC
since 2016
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.6M
+41.1%
Office building
$1.2M
+4.8%
Commercial (general)
$1.2M
+1.6%
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 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$1,150,000
Current use
INDUSTRIAL (GENERAL)
$1,620,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$1,205,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,165,000
Change: +2% · Conversion: Difficult
RESTAURANT
$1,045,000
Change: -9% · Conversion: Difficult
RETAIL STORES
$1,045,000
Change: -9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,000,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±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
$114 / 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
$80,858
Tax year 2023
Assessed value
$792,740
Assessed 2023
Previous assessed
$792,740
+0.0% YoY
Effective rate
10.20%
On assessed value
Assessed land
$310,530
Assessed improvement
$482,210
Land market value
$1,112,994
Improvement market value
$1,728,356
Total market value
$2,841,350
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
Off-Market
Year built
2016
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
8,670 SF
Lot
1.89 ac (82,459 SF)
APN
R5341108
UPID
US13-1550715
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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.0M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.89 ac
Current owner
From public records · entity-resolved
Jt Strips LLC
Entity
Mailing address
641 MITCHELL WAY, ERIE, CO 80516-5436
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Jul 20, 2016
$480,000
Jt Strips LLC
Eric Commerical LLC
Warranty Deed
$3,590,000 · Compass Bank
Jun 8, 2009
—
Erie Commercial LLC
—
Deed Of Trust
related
$3,600,000 · James E Smith
—
—
Erie Commercial LLC
—
Loan Modification
related
$1,500,000 · James E Smith
—
—
Erie Commercial LLC
—
Loan Modification
related
$1,800,000 · Douglas J & Mary C Lyle
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 641 Mitchell Way?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
