End-Cap Office
For Sale
$844,800
5-6-323 S College Ave, Fort Collins, CO 80524
Professional office space benefits from added natural light, monument signage, and convenient access from College Avenue.
Property Size3,840 SF
Price / SF$220
Days on Market506
Property Features for 5-6-323 S College Ave
General Information
Standard status
Active
Size
3,840 SF
Zoning
Downtown District
Additional Details
Asking Price
$844,800
Road Access
Yes
Office Units
2
Listing Agency:
RE/MAX Comm. Alliance-FTC Dwtn
(970) 215-7016
Listed By:
Michelle Hickey Crawford · License #1414
(970) 215-7016
Source:
Exprealty
Added: Apr 15, 2025
Changed: Aug 31
Last Checked: Sep 1 at 10:50PM
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.
Suites 5 and 6 are being offered together as a 3,840 SF office property configured for professional office use. The end-cap position brings additional natural light, while Suite 6 contributes 1,488 SF of the combined offering. Monument signage along College Avenue provides property identification from the corridor.
The property is located in downtown Fort Collins with access from College Avenue and is subject to Downtown District Zoning. Comcast is identified as the IT provider. The ownership is offering the suites for sale, with potential for a six-month leaseback under terms to be negotiated.
The property is located in downtown Fort Collins with access from College Avenue and is subject to Downtown District Zoning. Comcast is identified as the IT provider. The ownership is offering the suites for sale, with potential for a six-month leaseback under terms to be negotiated.
Key Highlights
- 3,840 SF offering combining Suites 5 and 6
- End‑cap position provides additional natural light
- Suite 6 contains 1,488 SF
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
$53,885
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
6.38%
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%
$1,077,700
$1.1M
Cap Rate 7%
$769,786
$769.8K
Cap Rate 9%
$598,722
$598.7K
Market Conditions
NOI Build-Up for 3,840 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
$84.3K $21.96/SF
− Vacancy
−$12.5K −$3.25/SF
EGI
$71.8K $18.71/SF
− OpEx
−$18.0K −$4.68/SF
NOI
$53.9K $14.03/SF
Area
Fort Collins, CO
Vacancy
14.80%
Lease Rate
$21.96 /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%
$1,077,700
Cap Rate 7%
$769,786
Cap Rate 9%
$598,722
Alternative Uses
Best Use
Office B
$769.8K
$673.6K – $898.1K
NOI $53,885 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$999.9K
$875.0K – $1.17M
NOI $69,996 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,558
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 - Professional office space benefits from added natural light, monument signage, and convenient access from College Avenue.
Where is this office units located?
The property is located at 5-6-323 S College Ave Fort Collins, CO.
What is the asking price?
The asking price for this property is $844,800.
What are key features of this property?
This property features: 3,840 SF offering combining Suites 5 and 6; End‑cap position provides additional natural light; Suite 6 contains 1,488 SF
