Renovated Office Building For
For Sale
$2,112,135
1520 South College Avenue, Fort Collins, CO 80524
Renovated office building with detailed finishes near Colorado State University.
Property Size7,074 SF
Price / SF$298.58
Days on Market137
Property Features for 1520 South College Avenue
General Information
Standard status
Active
Size
7,074 SF
Property subtype
Office
Listing Agency:
CBRE - Fort Collins
(970) 872-3844
Listed By:
Mike Eyer · License #FA100012904
(970) 872-3844
Source:
Cbre
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 8 at 6:28AM
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 CBRE - Fort Collins
Investment Insights
Based on property information with market context.
This beautifully renovated converted office building houses private offices with detailed finishes. The two-story building features a reception room, conference room, and a kitchen/breakroom. Hardwood floors and carpeting are present throughout the 7,074 square foot property. An outdoor deck is also included. Located northwest of Prospect Road on College Avenue, the building is situated at the gateway to downtown Fort Collins, offering high visibility and exposure on South College Avenue. The property is minutes from Colorado State University and includes a monument sign on College Avenue. Due diligence information is available upon request.
Key Highlights
- Prime location at the gateway to downtown Fort Collins with high visibility and exposure on S College Ave.
- Minutes from Colorado State University (CSU).
- Beautiful, detailed finishes throughout the renovated office building.
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
$99,265
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
4.70%
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%
$1,985,300
$2.0M
Cap Rate 7%
$1,418,071
$1.4M
Cap Rate 9%
$1,102,944
$1.1M
Market Conditions
NOI Build-Up for 7,074 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
$155.3K $21.96/SF
− Vacancy
−$23.0K −$3.25/SF
EGI
$132.4K $18.71/SF
− OpEx
−$33.1K −$4.68/SF
NOI
$99.3K $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%
$1,985,300
Cap Rate 7%
$1,418,071
Cap Rate 9%
$1,102,944
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.65M
NOI $99,265 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,945 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,109
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 building - Renovated office building with detailed finishes near Colorado State University.
Where is this office building located?
The property is located at 1520 South College Avenue Fort Collins, CO.
What is the asking price?
The asking price for this property is $2,112,135.
What are key features of this property?
This property features: Prime location at the gateway to downtown Fort Collins with high visibility and exposure on S College Ave.; Minutes from Colorado State University (CSU).; Beautiful, detailed finishes throughout the renovated office building.
