Two-Building Medical Office
New
For Sale
$2,500,000
1032 Luke St, Fort Collins, CO 80524
One building is ready for occupancy, while the adjoining medical office is leased to practicing providers.
Property Size14,696 SF
Days on Market1
Property Features for 1032 Luke St
General Information
Standard status
Active
Size
14,696 SF
Zoning
E
Site & Location
Neighborhood
Highlander Heights
Additional Details
Tenant in Place
Yes
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$36,065
Amenities
Plans
Public
12456
0.29
No
14696
Building Details
Building Size
14,696 SF
Year Built
1970
Buildings
2
Listing Agency:
Ccb Real Estate Llc
(970) 594-9228
Listed By:
Tyler Rogers
Source:
Focalrealestategroup
Added: Oct 31
Last Checked: Oct 31 at 3:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ccb Real Estate Llc
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Investment Insights
Based on property information with market context.
This medical office campus comprises two buildings at 1020 and 1032 Luke Street. The 1032 Luke Street property contains 8,644 square feet and is ready for occupancy; half of its space has recently been remodeled. The adjoining 6,052-square-foot building at 1020 Luke Street is fully leased to practitioners, including Aspen Wellness Center and the Acupuncture Clinic of Fort Collins.
The campus is directly across from the emergency room at UCHealth Poudre Valley Hospital. Both buildings were constructed in 1970, and the property is zoned E.
The campus is directly across from the emergency room at UCHealth Poudre Valley Hospital. Both buildings were constructed in 1970, and the property is zoned E.
Key Highlights
- Two medical office buildings at 1020 and 1032 Luke Street
- 8,644‑square‑foot building at 1032 Luke Street is ready for occupancy
- Half of the 8,644‑square‑foot building has recently been remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$206,221
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,124,420
$4.1M
Cap Rate 7%
$2,946,014
$2.9M
Cap Rate 9%
$2,291,344
$2.3M
Market Conditions
NOI Build-Up for 14,696 SF
Gross rent
$322.7K $21.96/SF
− Vacancy
−$47.8K −$3.25/SF
EGI
$275.0K $18.71/SF
− OpEx
−$68.7K −$4.68/SF
NOI
$206.2K $14.03/SF
Area
Fort Collins, CO
Vacancy
14.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,124,420
Cap Rate 7%
$2,946,014
Cap Rate 9%
$2,291,344
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.44M
NOI $206,221 @ 7.0% cap · market cap 8.25%
Second Best
Healthcare Medical
$2.92M
$2.56M – $3.41M
NOI $204,427 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,879 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,840
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 80524, CO
39,030
Population
17,548
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
94%
High-School Grad
122.7 sq mi
ZIP Area
318
Density / Sq Mi
$84,440
Median Household Income
$45,046
Median Earnings
$1,623
Median Rent
$527,700
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - One building is ready for occupancy, while the adjoining medical office is leased to practicing providers.
Where is this medical office space located?
The property is located at 1032 Luke St Fort Collins, CO.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Two medical office buildings at 1020 and 1032 Luke Street; 8,644‑square‑foot building at 1032 Luke Street is ready for occupancy; Half of the 8,644‑square‑foot building has recently been remodeled
