Fort Collins Self-Storage
For Sale
$4,500,000
904 N U.S Hwy 287, Fort Collins, CO 80524
A well-maintained self-storage facility located at 904 N U.S. Hwy 287 in Fort Collins, Colorado
Property Size36,496 SF
Lot Size4.29 Acres
Price / SF$123.30
Days on Market606
Property Features for 904 N U.S Hwy 287
General Information
Standard status
Active
Property type
Self storage facilities, Warehouses, Industrial properties
Size
36,496 SF
Net Rentable
36,496 SF
Elevators
N/A
Lot size
4.29 Acres
Occupancy
88%
Investment Type
Stabilized
Net Operating Income
$244,736
Building Details
Year Built
1993
Buildings
9
Stories
10
Units
203
Listing Agency:
(909) 380-0073
Listed By:
Ingla
(909) 380-0073
Added: Dec 25, 2024
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located at 904 N U.S. Hwy 287 in Fort Collins, Colorado, this self-storage facility offers an investment opportunity. Constructed in 1993, the property includes nine single-story metal and steel buildings. It features 203 units across 36,496 rentable square feet and has an 88% occupancy rate. The facility is situated on a 4.29-acre lot with gated and fenced access. Its location along US Highway 287 provides high visibility and accessibility, with a daily traffic count of 13,100 vehicles. The property is near the Cache La Poudre-North Park Byway, close to Colorado State University, new residential developments, and numerous lakes and reservoirs. It serves a population exceeding 370,000 within the Fort Collins-Loveland MSA. The facility has an approved expansion plan for an additional 8,400 square feet. The property generates $244,736 NOI.
Key Highlights
- Seller Financing Available
- 4th Largest City in Colorado
- High Historical Occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$389,033
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,780,660
$7.8M
Cap Rate 7%
$5,557,614
$5.6M
Cap Rate 9%
$4,322,589
$4.3M
Market Conditions
NOI Build-Up for 36,496 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$591.2K $16.20/SF
− Vacancy
−$35.5K −$0.97/SF
EGI
$555.8K $15.23/SF
− OpEx
−$166.7K −$4.57/SF
NOI
$389.0K $10.66/SF
Area
Fort Collins, CO
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,780,660
Cap Rate 7%
$5,557,614
Cap Rate 9%
$4,322,589
Alternative Uses
Best Use
Warehouse
$6.37M
$5.57M – $7.43M
NOI $445,780 @ 7.0% cap · market cap 9.91%
Second Best
Self Storage
$5.56M
$4.86M – $6.48M
NOI $389,033 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$9.50M
$8.32M – $11.09M
NOI $665,249 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - A well-maintained self-storage facility located at 904 N U.S. Hwy 287 in Fort Collins, Colorado
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: Seller Financing Available; 4th Largest City in Colorado; High Historical Occupancy
