Turn-Key Restaurant Opportunity Near
For Sale
Contact for pricing
122 W Laurel St, Fort Collins, CO 80524
Renovated restaurant space near Colorado State University campus.
Property Size3,525 SF
Price / SF$424.11
Days on Market718
Property Features for 122 W Laurel St
General Information
Standard status
Active
Size
3,525 SF
Property subtype
Retail
Zoning
D-CND-5
Building Details
Year Built
1916
Listing Agency:
Cushman & Wakefield - Fort Collins, Colorado
(970) 776-3900
Listed By:
Jason Ells · License #CO FA.040024170
Source:
Crexi
Added: Sep 4, 2024
Changed: Aug 8
Last Checked: May 12 at 10:41PM
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 Cushman & Wakefield - Fort Collins, Colorado
Investment Insights
Based on property information with market context.
This turn-key restaurant opportunity is located adjacent to the Colorado State University Campus in Fort Collins, CO, and within walking distance of Old Town Fort Collins. The property, formerly the Pickle Barrel bar and deli for over 35 years, has undergone significant renovations over the last 2 years. Upgrades include improvements to the patio, facade, electrical, plumbing, and mechanical systems. The rear parking lot has been entirely refinished into a massive concrete patio, featuring a raised stage area for live music, new fencing, and shade sails. The kitchen is equipped with an 8’ Type I hood, two freezers, and a walk-in cooler on the main level, with a walk-in beer cooler located in the basement. The property is 3525 square feet. This location is suitable for various restaurant concepts, including sandwich shops, barbecue, chicken, and Mediterranean cuisine, catering to the student population, young professionals in the downtown core, and families in the surrounding neighborhoods. A full equipment list is available.
Key Highlights
- Turn‑key restaurant opportunity adjacent to Colorado State University Campus and walking distance to Old Town Fort Collins.
- Extensive renovations completed in the last 2 years, including patio, facade, electrical, plumbing, and mechanical systems.
- Large, refinished rear parking lot converted into a massive concrete patio with a raised stage area.**
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
$60,595
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
4.05%
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%
$1,211,900
$1.2M
Cap Rate 7%
$865,643
$865.6K
Cap Rate 9%
$673,278
$673.3K
Market Conditions
NOI Build-Up for 3,525 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
$84.6K $24.00/SF
− Vacancy
−$3.8K −$1.08/SF
EGI
$80.8K $22.92/SF
− OpEx
−$20.2K −$5.73/SF
NOI
$60.6K $17.19/SF
Area
Fort Collins, CO
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,211,900
Cap Rate 7%
$865,643
Cap Rate 9%
$673,278
Alternative Uses
Best Use
Specialty Retail
$865.6K
$757.4K – $1.01M
NOI $60,595 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$917.9K
$803.2K – $1.07M
NOI $64,254 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,281
Businesses Nearby
Balanced
Demand for This Use
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 Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Little Latitudes Cajun Street Food — 11 Old Town Square, Fort Collins, CO 80524
- Adventure Chefs - Catering, Courses, Staffing & Events — 324 Jefferson St, Fort Collins, CO 80524
- Lory Catering — 1101 Center Ave Mall, Fort Collins, CO 80521
- The Silver Spoon — 515 W Mulberry St, Fort Collins, CO 80521
Frequently Asked Questions
What type of property is this?
Restaurant - Renovated restaurant space near Colorado State University campus.
Where is this restaurant located?
The property is located at 122 W Laurel St Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Turn‑key restaurant opportunity adjacent to Colorado State University Campus and walking distance to Old Town Fort Collins.; Extensive renovations completed in the last 2 years, including patio, facade, electrical, plumbing, and mechanical systems.; Large, refinished rear parking lot converted into a massive concrete patio with a raised stage area.**
