Success Stories

Success Stories 2017-03-14T16:49:14+00:00
The experts at 1st Net Real Estate Services, Inc. have a proven track record and our clients are the beneficiaries. We have been successful at reducing the taxes on thousands of client properties. Let us help you too!

Henry Ford said, “You can’t build a reputation on what you’re going to do.” Anyone can make promises. But often, it’s past performance that offers the best indicator of future success. We have chosen a variety of client successes that we would like to share with you:

Office

  • 140,000 S/F Office Building located in the Denver Tech Center. We were able to demonstrate the owner had very high capital expenditures to off-set extreme vacancy and that the Assessor rents were too high.
    • $9,600,000 reduction in value for one year and an additional $5,000,000 reduction for each of two prior years. Our efforts for the client resulted in a total tax savings of $710,000.
    
    
  • 1,200,000 S/F mega Office Building in Downtown Denver. We were able to show that the Assessor used enhanced rental rates instead of real market rental rates.
    • $23,700,000 reduction in value for each of two years, and $3,000,000 reduction in value for each of two prior years. Our efforts for the client resulted in a total tax savings of $1,280,000.

Industrial

  • 1,000,000 S/F Warehouse/Distribution center in Denver owned by a national grocer. Through the market approach and income approach we demonstrated a lower value.
    • $3,300,000 reduction in value each year for three years. Our efforts for the client resulted in a total tax savings of $550,000.
    
    
  • 176,000 S/F Flex-Warehouse, Inverness, Douglas County. We were able to demonstrate the owner had very high capital expenditures to off-set extreme vacancy and that the Assessor rents were too high.
    • $3,974,000 reduction in value for two years. Our efforts for the client resulted in a total tax savings of $245,600.

Retail

  • 158,000 S/F Shopping Center in Thornton. We were able to demonstrate that the Assessor used rental rates that were not supported by the market.
    • $4,200,000 reduction in value over two years. Our efforts for the client resulted in a total tax savings of $260,000.
    
    
  • 160,000 SF Shopping Center in Broomfield. We were able to demonstrate that the Assessor used rental rates that were not supported by the market.
    • $1,600,000 reduction in value over two years and an additional $1,500,000 reduction in value for the prior two years. Our efforts for the client resulted in a total tax savings of $140,000.

Apartments

  • 436 unit Apartment Building in Thornton: Presented more similar sales demonstrating a lower price per unit.
    • $17,600,000 reduction in value for each of two years. Our efforts for the client resulted in a total tax savings of $392,000.
    
    
  • 384 unit Apartment Building in Denver. The Assessor.s property Quality Grade was highly inaccurate. We presented the property’s actual condition accompanied by sales of similar properties to demonstrate a significantly lower value.
    • $7,000,000 reduction in value and an additional $4,000,000 reduction in value for the prior two years. Our efforts for the client resulted in a total tax savings of $160,000.

Land

  • 35 parcel Residential Subdivision, Jefferson County. The Assessor had used high price sales comparables that were not similar in location, size and amenities to the subject.
    • $2,860,000 reduction in value for one year. Result for the client: Our efforts for the client resulted in a tax refund of $95,000.
    
    
  • 250 parcel Residential Subdivision in the Rocky Mountain foot hills, Douglas County: We demonstrated that the comparable sales were too high and that the Assessor’s Present Worth sell-off period was unrealistically too fast.
    • $23,000,000 reduction in value for two years. Our efforts for the client resulted in a total tax savings of more than $1,775,000.