Industrial Warehouse with Mezzanine
For Sale
$1,540,000
321 Hickory St 110, Fort Collins, CO 80524
Clean industrial warehouse with high ceilings and mezzanine office.
Property Size11,000 SF
Days on Market129
Property Features for 321 Hickory St 110
General Information
Standard status
Active
Size
11,000 SF
Property subtype
Industrial
Building Details
Building Size
11,000 SF
Year Built
2019
Listing Agency:
Cushman & Wakefield
(970) 231-7513
Listed By:
Jason Ells · License #FA.040024170
(970) 231-7513
Source:
Elliman
Added: Apr 24
Changed: Aug 19
Last Checked: Aug 29 at 2:16PM
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
Investment Insights
Based on property information with market context.
This industrial warehouse unit is located just off North College Ave. Currently used as a baseball training facility, the space includes a lobby area, a large open warehouse, three private restrooms, and a mezzanine office/storage area. Two large overhead doors and high ceilings accommodate a variety of uses. There are eight parking spaces adjacent to the unit, with additional common parking to the south. Building signage above the entry is available. The location has a bike score of 84, indicating it is very bikeable, a walk score of 46, indicating car-dependent, and a transit score of 34, indicating some transit options are available.
Key Highlights
- Clean, modern industrial warehouse unit built in 2019.
- Two large overhead doors and high ceilings suitable for diverse uses.
- Includes lobby, large open warehouse, 3 private restrooms, and mezzanine office/storage.
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
$134,360
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
8.72%
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%
$2,687,200
$2.7M
Cap Rate 7%
$1,919,429
$1.9M
Cap Rate 9%
$1,492,889
$1.5M
Market Conditions
NOI Build-Up for 11,000 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
$165.0K $15.00/SF
− Vacancy
−$6.9K −$0.63/SF
EGI
$158.1K $14.37/SF
− OpEx
−$23.7K −$2.16/SF
NOI
$134.4K $12.21/SF
Area
Fort Collins, CO
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,687,200
Cap Rate 7%
$1,919,429
Cap Rate 9%
$1,492,889
Alternative Uses
Best Use
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,360 @ 7.0% cap · market cap 8.72%
Second Best
Industrial
$1.58M
$1.38M – $1.84M
NOI $110,649 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$2.86M
$2.51M – $3.34M
NOI $200,508 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Well-served
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Save*Mor Self Storage — 677 Linden St, Fort Collins, CO 80524
- Vine Street Storage — 1034 W Vine Dr, Fort Collins, CO 80521
- FoCo Moving — 1046 Ten Mile Range Ln Unit C, Fort Collins, CO 80524
- Exodus Moving & Storage — 113 Hickory St, Fort Collins, CO 80524
- Alpine Moving Company — 1307 N College Ave, Fort Collins, CO 80524
Frequently Asked Questions
What type of property is this?
Warehouse - Clean industrial warehouse with high ceilings and mezzanine office.
Where is this warehouse located?
The property is located at 321 Hickory St 110 Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,540,000.
What are key features of this property?
This property features: Clean, modern industrial warehouse unit built in 2019.; Two large overhead doors and high ceilings suitable for diverse uses.; Includes lobby, large open warehouse, 3 private restrooms, and mezzanine office/storage.
