Renovated Downtown Office
For Sale
Contact for pricing
123 N College Ave, Fort Collins, CO 80524
Recently renovated office suite with glass storefronts, open-office areas, and a mix of offices and conference-ready space.
Property Size4,564 SF
Price / SF$240
Days on Market239
Property Features for 123 N College Ave
General Information
Standard status
Active
Size
4,564 SF
Total Parking Spaces
5
Property subtype
OFFICE
Amenities
Atrium
bistro kitchenette
Listing Agency:
Cushman & Wakefield | Fort Collins
(970) 231-7513
Listed By:
Jason Ells · License #FA.040037901
(970) 231-7513
Source:
Moodyscre
Added: Dec 4, 2025
Changed: Jul 26
Last Checked: Jul 29 at 4:06PM
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
Investment Insights
Based on property information with market context.
This recently renovated downtown office suite features additional glass storefronts and windows fronting College Avenue to the east, with access through the Atrium entry to the south and the main Atrium area to the west. Inside, the layout includes a balanced mix of offices and open-office areas, exposed historic brick, new LED efficient lighting, modern flooring upgrades, and an expanded open layout designed to support multiple workspace needs. The suite also has the ability to convert office space to glass-enclosed conference space, along with a renovated and expanded bistro kitchenette and flexibility to open additional areas for employee-focused activity spaces.
The Opera Galleria Atrium entry and main Atrium areas were significantly remodeled by the Downtown Development Authority in fall 2019, resulting in upgraded common areas with enhanced lighting, decor, and an open pedestrian environment. The building’s LaPorte parking garage is attached via a second-floor bridge that connects to the walkway leading to Unit 250, providing temperature-conditioned access.
The suite is associated with five reserved parking passes for the attached LaPorte parking garage, with additional passes available through the City of Fort Collins.
The Opera Galleria Atrium entry and main Atrium areas were significantly remodeled by the Downtown Development Authority in fall 2019, resulting in upgraded common areas with enhanced lighting, decor, and an open pedestrian environment. The building’s LaPorte parking garage is attached via a second-floor bridge that connects to the walkway leading to Unit 250, providing temperature-conditioned access.
The suite is associated with five reserved parking passes for the attached LaPorte parking garage, with additional passes available through the City of Fort Collins.
Key Highlights
- Recently renovated downtown office suite with glass store fronts and windows fronting College Ave (east), plus exposure to the Atrium (south/west).
- Suite offers a balanced mix of offices and open‑office areas with exposed historic brick, modern flooring, and new LED efficiency lighting.
- Expanded open layout with ability to convert office space into glass‑enclosed conference space.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.2k | $21.96 |
| − Vacancy | −$14.8k | −$3.25 |
| EGI | $85.4k | $18.71 |
| − OpEx | −$21.3k | −$4.68 |
| NOI | $64.0k | $14.03 |
4,564 SF · lease $21.96/SF/yr · vacancy 14.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$914.9K
$800.6K – $1.07M
NOI $64,044 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,193 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,541
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Recently renovated office suite with glass storefronts, open-office areas, and a mix of offices and conference-ready space.
Where is this office units located?
The property is located at 123 N College Ave Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,095,360.
What are key features of this property?
This property features: Recently renovated downtown office suite with glass store fronts and windows fronting College Ave (east), plus exposure to the Atrium (south/west).; Suite offers a balanced mix of offices and open‑office areas with exposed historic brick, modern flooring, and new LED efficiency lighting.; Expanded open layout with ability to convert office space into glass‑enclosed conference space.
