Denver Post Office:

Estimate of Fair Market Value

GGD-88-51: Published: Mar 11, 1988. Publicly Released: Mar 11, 1988.

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Pursuant to a legislative requirement, GAO estimated the market value of the main post office in Denver, Colorado.

GAO found that: (1) the value of the land and improvements to the building was approximately $11,300,000; (2) the building would be best suited for a courthouse and related office space; and (3) previous appraisals differed significantly because of differences in opinion regarding the best use of the property. GAO believes that: (1) the public would oppose a planned 55-story multi-use addition to the building because of its location within an historic area; and (2) future development was too speculative to include in an estimate of fair market value.

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