Fully Leased Retail
For Sale
$8,650,000
3500 John F. Kennedy Pkwy, Fort Collins, CO 80525
Fully leased retail property with development potential in Fort Collins.
Property Size41,225 SF
Lot Size3.30 Acres
Days on Market274
Property Features for 3500 John F. Kennedy Pkwy
General Information
Standard status
Active
Size
41,225 SF
Lot size
3.30 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$159,097
Building Details
Building Size
41,225 SF
Year Built
1984
Listing Agency:
RE/MAX Comm. Alliance-FTC Dwtn
(970) 215-7016
Listed By:
Michelle Hickey Crawford · License #1414
(970) 215-7016
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 28 at 5:03PM
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 RE/MAX Comm. Alliance-FTC Dwtn
Investment Insights
Based on property information with market context.
This fully leased retail property offers an exceptional acquisition opportunity. The property is 100% occupied and features a 7% cap rate. The tenant mix includes 16 tenants, with multiple national brands represented. The 41,225 square foot elevator-served building is situated on 3.3 acres and includes two rooftop antenna cell leases valued at $1 million at a 5% cap. The 2026 net operating income is projected to be $664,100, which includes a 5% vacancy and management allowance. The sale includes a 0.875 acre pad site, offering future development or expansion potential. A major interior remodel and new HVAC system were completed in 2008, and a new roof was installed in 2024. The property is well-managed with reliable financial information available. There are 148 parking spaces, providing a parking ratio of 3.89 spaces per 1,000 square feet. The property is located within the General Commercial Zone District.
Key Highlights
- Fully leased NNN property with a 7% Cap Rate and 100% occupancy.
- Includes two rooftop antenna cell leases valued at $1M at a 5% Cap.
- Sale includes a 0.875‑acre pad site for future development or expansion.
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
$621,764
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
7.19%
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%
$12,435,280
$12.4M
Cap Rate 7%
$8,882,343
$8.9M
Cap Rate 9%
$6,908,489
$6.9M
Market Conditions
NOI Build-Up for 41,225 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
$935.0K $22.68/SF
− Vacancy
−$46.7K −$1.13/SF
EGI
$888.2K $21.55/SF
− OpEx
−$266.5K −$6.46/SF
NOI
$621.8K $15.08/SF
Area
Fort Collins, CO
Vacancy
5.00%
Lease Rate
$22.68 /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%
$12,435,280
Cap Rate 7%
$8,882,343
Cap Rate 9%
$6,908,489
Alternative Uses
Best Use
Retail
$8.88M
$7.77M – $10.36M
NOI $621,764 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.73M
$9.39M – $12.52M
NOI $751,449 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80525, CO
55,901
Population
25,144
Households
2.2
Avg Household Size
37
Median Age
59%
College-Educated
98%
High-School Grad
23.4 sq mi
ZIP Area
2,389
Density / Sq Mi
$93,349
Median Household Income
$48,876
Median Earnings
$1,744
Median Rent
$563,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased retail property with development potential in Fort Collins.
Where is this shopping center located?
The property is located at 3500 John F. Kennedy Pkwy Fort Collins, CO.
What is the asking price?
The asking price for this property is $8,650,000.
What are key features of this property?
This property features: Fully leased NNN property with a 7% Cap Rate and 100% occupancy.; Includes two rooftop antenna cell leases valued at $1M at a 5% Cap.; Sale includes a 0.875‑acre pad site for future development or expansion.
