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    The Largest CRE Database in the US with Over 1 Million Listings

    904 N U.S. Hwy 287 Fort Collins, CO

    Sponsored
    For Sale
    $4,500,000

    High-occupancy, expandable self-storage facility in Fort Collins, CO.

    Property size:
    36,496 SF

    Description

    Added:
    Dec 25, 2024
    Days on Market:
    405
    This exceptional self-storage facility, located at 904 N U.S. Hwy 287 in Fort Collins, Colorado, presents a compelling investment opportunity. The property boasts 36,496 rentable square feet across 203 units, achieving an 88% occupancy rate. Built in 1993, the facility comprises nine single-story buildings constructed of metal and steel, situated on a 4.29-acre lot. The property benefits from high visibility and accessibility along US Highway 287, a heavily trafficked road with a daily count of 13,100 vehicles. Its strategic location near the Cache La Poudre-North Park Byway offers proximity to Colorado State University, new residential developments, and numerous lakes and reservoirs, serving a population exceeding 370,000 within the Fort Collins-Loveland MSA. The facility features gated and fenced access, and recent rent increases have contributed to strong operational performance and income stability. Further enhancing its investment potential are below-market rents and an approved expansion plan for an additional 8,400 square feet. The asking price is $4,500,000, and the seller is offering interest-only financing for a five-year period. This represents a rare opportunity to acquire a well-maintained, high-performing self-storage asset in a thriving Colorado market.

    Property Features for 904 N U.S. Hwy 287

    General Information

    Property type
    Self storage facilities
    Investment Type
    stabilized
    Square Feet
    36,496 SF
    Price / Square Foot
    $123
    Elevators
    N/A
    Net Rentable
    36,496 SF
    Lot Size
    186,872 SF
    Occupancy
    88%
    Net Operating Income
    $244,736

    Building Details

    Year Built
    1993
    Buildings
    9
    Stories
    10
    Units
    203

    We can help!

    Listing Contact
    Ingla Robinson

    Learn more

    Property Insight Report

    HighLights

    • Highly profitable self‑storage facility in Fort Collins, CO, generating $244,736 NOI.
    • 88% occupancy with 203 units across 36,496 rentable sq ft.
    • Approved for 8,400 sq ft expansion on 4.29 acres with seller financing available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Building Supply Clothing Store Auto Repair Shop Gym & Fitness Wholesale Shop Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    City
    Fort Collins
    State
    Colorado

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    FAQs

    What type of property is this?
    Self storage facility - High-occupancy, expandable self-storage facility in Fort Collins, CO.
    Where is this self storage facility located?
    The property is located at 904 N U.S. Hwy 287 Fort Collins, CO.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: Highly profitable self-storage facility in Fort Collins, CO, generating $244,736 NOI.; 88% occupancy with 203 units across 36,496 rentable sq ft.; Approved for 8,400 sq ft expansion on 4.29 acres with seller financing available.
    (909) 380-0073
    Request Owner's contact information
    904 N U.S. Hwy 287 Fort Collins, CO
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    904 N U.S. Hwy 287 Fort Collins, CO
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    We can help!
    Listing Contact
    Ingla Robinson
    (909) 380-0073
    Learn more
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