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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Medical Office Space
87 Merchant Dr Montrose, CO 81401-3015
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US13-1368252
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,525 SF
Lot
1.19 ac (51,953 SF)
APN
3767-213-04-003
UPID
US13-1368252
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
-
The PIC Place - a MarillacHealth Clinic Medical Clinic
-
Tiffany E. Sturgeon, MD Pediatrician Medical Clinic
-
Nissan Parts Auto Parts Store
-
Greta Hoffman Physician
-
Dr. Tiffany Russell Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$830k
Owner & transaction history
Marillac Clinic INC · 2 yrs held
Marillac Clinic INC
since 2024
7 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 Montrose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Montrose 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
$510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,345,000
Change: -3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,160,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$830k
Range $747k – $913k · ±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
$87 / 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
$33,807
Tax year 2023
Assessed value
$484,370
Assessed 2023
Previous assessed
$484,370
+0.0% YoY
Effective rate
6.98%
On assessed value
Assessed land
$64,030
Assessed improvement
$420,340
Land market value
$220,800
Improvement market value
$1,449,440
Total market value
$1,670,240
Applied tax rate
1,140.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
REFRIGERATOR
Stories
1
Units
1
Total area
9,525 SF
Lot
1.19 ac (51,953 SF)
APN
3767-213-04-003
UPID
US13-1368252
Jurisdiction
MONTROSE
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
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
COMMERCIAL (GENERAL)
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Marillac Clinic INC
Entity
Mailing address
2333 N 6TH ST, GRAND JUNCTION, CO 81501-2001
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2024
—
Marillac Clinic INC
Marillac Cling INC
Special Warranty Deed
$975,000 · Alpine Bank
Jan 8, 2024
—
Pic Place
—
Deed
related
$710,000 · Alpine Bank
Jun 19, 2019
—
Community Clinic INC
—
Deed
related
$100,000 · Alpine Bank
Aug 10, 2017
—
Community Dental Clinic INC
—
Deed
related
$710,000 · Alpine Bank
Aug 8, 2017
—
Community Dental Clinic INC
—
Deed
related
$100,000 · Alpine Bank
Feb 19, 2016
$659,500
Community Dental Clinic INC
Slbrm INC
Special Warranty Deed
$250,000 · Alpine Bank
Dec 18, 2006
—
Slbrm INC
Aspen Valley Harley Davidson INC
Quit Claim Deed
related
—
Jun 28, 2006
$769,000
Aspn Valley Harley Davidson INC
D L Day JR
Warranty Deed
—
Jun 2, 2006
$500,000
D L Day JR
Bank Of The West
Special Warranty Deed
$505,306 · Brown Financial LLC
Feb 9, 2005
$1,249,984
Bank Of The West
C R S Development Limited LLC
Foreclosure
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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