Retail-Flex Condo with
1606 S Lemay, Fort Collins, CO 80525
For Sale
Contact for pricing
Condo unit with open space, 2–3 offices, and two restrooms, including an ADA-compliant shower.
Property Size3,017 SF
Price / SF$164.07
Days on Market193
Property Features for 1606 S Lemay
General Information
Standard status
Size
Property subtype
Amenities
building signage available
Listing Agency:
Cushman & Wakefield | Fort Collins
(970) 776-3900
Listed By:
Aki Palmer · License CO #040037834
(970) 267-7727
Source:
Moodyscre
Added: May 4
Changed: Nov 10
Last Checked: Nov 10 at 11:25AM
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
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Investment Insights
Based on property information with market context.
This retail-flex condo unit offers an open layout suitable for retail or flexible uses, supported by 2–3 offices and two restrooms. One of the restrooms includes an ADA-compliant shower, providing an added functional improvement for daily operations.
The property is centrally located at the intersection of Lemay Avenue and Prospect Road and is surrounded by restaurant and retail amenities. Building signage is available, and the unit benefits from ample onsite parking.
The roof was replaced in 2018.
The property is centrally located at the intersection of Lemay Avenue and Prospect Road and is surrounded by restaurant and retail amenities. Building signage is available, and the unit benefits from ample onsite parking.
The roof was replaced in 2018.
Key Highlights
- Condo unit with open space suited for retail or flex use
- Includes 2–3 offices and two restrooms, including an ADA‑compliant shower
- Centrally located at the intersection of Lemay Avenue & Prospect Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,503
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,060
$910.1K
Cap Rate 7%
$650,043
$650.0K
Cap Rate 9%
$505,589
$505.6K
Market Conditions
NOI Build-Up for 3,017 SF
Gross rent
$68.4K $22.68/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$65.0K $21.55/SF
− OpEx
−$19.5K −$6.46/SF
NOI
$45.5K $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 Rate 5%
$910,060
Cap Rate 7%
$650,043
Cap Rate 9%
$505,589
Alternative Uses
Best Use
Retail
$650.0K
$568.8K – $758.4K
NOI $45,503 @ 7.0% cap · market cap 9.19%
Second Best
Office B
$604.8K
$529.2K – $705.6K
NOI $42,336 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$785.6K
$687.4K – $916.6K
NOI $54,994 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,786
Businesses Nearby
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Business Placement
Demographics for 80525, CO
55,901
Population
25,144
Households
2.2
Avg Household Size
37
Median Age
59%
College-Educated
98%
High-School Grad
23.4 sq mi
ZIP Area
2,389
Density / Sq Mi
$93,349
Median Household Income
$48,876
Median Earnings
$1,744
Median Rent
$563,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Fort Collins, CO
Properties on Market for Retail space in Fort Collins
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Retail space - Condo unit with open space, 2–3 offices, and two restrooms, including an ADA-compliant shower.
Where is this retail space located?
The property is located at 1606 S Lemay Fort Collins, CO.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Condo unit with open space suited for retail or flex use; Includes 2–3 offices and two restrooms, including an ADA‑compliant shower; Centrally located at the intersection of Lemay Avenue & Prospect Road
