Downtown Mixed-Use Corner
For Sale
Contact for pricing
203 W Myrtle St, Fort Collins, CO 80521
Mixed-use building with three apartments and three commercial suites, plus an owner-user space on the main floor.
Property Size4,800 SF
Price / SF$333.33
Days on Market43
Property Features for 203 W Myrtle St
General Information
Standard status
Active
Size
4,800 SF
Property subtype
RETAIL
Occupancy
100%
Additional Details
Multifamily Units
3
Amenities
on-site parking
Building Details
Tenancy
Multi
Listing Agency:
Realtec Fort Collins
(970) 229-9900
Listed By:
Erik Broman · License #FA.100006880
(970) 420-1445
Source:
Moodyscre
Added: Jul 24
Changed: Sep 2
Last Checked: Sep 4 at 4:30PM
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 Realtec Fort Collins
Investment Insights
Based on property information with market context.
This mixed-use property includes three apartments and three commercial suites, with an approximately 1,200 SF owner/user space available on the main floor (contact broker for details). The building has seen lots of recent capital expenditures, and it is described as always fully leased.
The asset sits on a corner lot and includes on-site parking, positioned as a highly sought-after Downtown Fort Collins offering.
Overall, the property provides a combined residential and retail/commercial configuration in a fully leased structure, with the main-floor space noted as available for an owner-user.
The asset sits on a corner lot and includes on-site parking, positioned as a highly sought-after Downtown Fort Collins offering.
Overall, the property provides a combined residential and retail/commercial configuration in a fully leased structure, with the main-floor space noted as available for an owner-user.
Key Highlights
- Mixed‑use building with 3 apartments and 3 commercial suites, plus an approx. 1,200 SF owner/user space on the main floor
- Owner/user space available on the main floor (approx. 1,200 SF) contact broker for details
- Always fully leased
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
$72,395
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
4.52%
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%
$1,447,900
$1.4M
Cap Rate 7%
$1,034,214
$1.0M
Cap Rate 9%
$804,389
$804.4K
Market Conditions
NOI Build-Up for 4,800 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
$108.9K $22.68/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$103.4K $21.55/SF
− OpEx
−$31.0K −$6.46/SF
NOI
$72.4K $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%
$1,447,900
Cap Rate 7%
$1,034,214
Cap Rate 9%
$804,389
Alternative Uses
Best Use
Retail
$1.03M
$904.9K – $1.21M
NOI $72,395 @ 7.0% cap · market cap 4.52%
Second Best
Mixed Use
$975.2K
$853.3K – $1.14M
NOI $68,265 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,494 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 80521, CO
37,451
Population
15,121
Households
2.5
Avg Household Size
26
Median Age
63%
College-Educated
98%
High-School Grad
14.0 sq mi
ZIP Area
2,675
Density / Sq Mi
$52,679
Median Household Income
$15,918
Median Earnings
$1,412
Median Rent
$541,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with three apartments and three commercial suites, plus an owner-user space on the main floor.
Where is this mixed-use property located?
The property is located at 203 W Myrtle St Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Mixed‑use building with 3 apartments and 3 commercial suites, plus an approx. 1,200 SF owner/user space on the main floor; Owner/user space available on the main floor (approx. 1,200 SF) contact broker for details; Always fully leased
