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1993-01-15_GENERAL DOCUMENTS - C1981017
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1993-01-15_GENERAL DOCUMENTS - C1981017
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Last modified
1/25/2021 1:37:00 PM
Creation date
5/1/2012 9:46:15 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1981017
IBM Index Class Name
GENERAL DOCUMENTS
Doc Date
1/15/1993
Doc Name
Opinion of value letter
From
Mason & Morse Real Estate
To
Delaney & Balcomb
Permit Index Doc Type
General Correspondence
Media Type
D
Archive
No
Tags
DRMS Re-OCR
Description:
Signifies Re-OCR Process Performed
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ASON& <br /> ORSEREALESTATE <br /> ^^ <br /> A40304 HIGHWAY 133 • CARBONDALE,COLORADO 81623 • (303)963-33W • FAX(303)963-0879 <br /> Page Two <br /> Even though C-2 zoning allows for retail sales, the subject <br /> property does not front on Highway 133, so its access limits its <br /> retail capabilities. The highest and best use of the property is <br /> probably Industrial in nature. <br /> There have not been many sales of C-2 zoned property in Carbondale recently, so we <br /> have used some older sales for comparison. <br /> Sale #1 - This sale, which took place in July of 1990 was an 1,860 square <br /> foot building on 1.42 acres. This property sold for $130,000. If <br /> the 1,860 square foot building was given a value of $20.00 per <br /> square foot, the land apportionment would be $92,800. This <br /> represents a land value of approximately $1.50 per square foot. <br /> This property is located across the street from the subject <br /> property. <br /> Sale #2 - This sale took place in March of 1990. It included 12.76 acres <br /> with a building containing 11,124 square feet and it sold for <br /> $1,012,000. The building is in excellent condition and currently <br /> has the Mid-Valley Athletic Club as its anchor tenant. Giving the <br /> building a value of $35.00 per square foot, the land <br /> apportionment of the purchase price would be $622,660 which <br /> represents a land cost of $1.12 per square foot. This property has <br /> Highway 133 frontage and is considered a superior site than the <br /> subject property. <br /> Sale #3 - In March of 1991, a 1.76 acre parcel was sold for $135,000. This <br /> property contained a small 1,000 square foot building which was <br /> later torn down. A portion of this property fronted on Highway <br /> 133. Disregarding any value for the improvements, this sale <br /> represents a land value of $1.76 per square foot. <br /> In summary, it is our opinion that there is little demand today for C-2 zoned land in <br /> Carbondale of the subject properties size. The above mentioned Sale #2 is currently <br /> on the market as a Business/Industrial Park offering approximately 12 parcels with <br /> good access and visibility to Highway 133. To date, none of these have sold and <br /> these parcels offer a better location than the subject property. <br />
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