Flex Retail Condo with
1606 South Lemay Avenue Fort Collins, CO 80525
1606 South Lemay Avenue, Fort Collins, CO, 80525
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For Sale
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Flex condo includes multiple offices, two restrooms, and ample on-site parking, with a roof replacement completed in 2018.
Property Size3,017 SF
Price / SF$180.64
Days on Market80
Property Features for 1606 South Lemay Avenue
General Information
- Standard status
- Active
- Size
- 3,017 SF
- Property subtype
- Retail
Listing agency
Cushman & Wakefield - Fort Collins, Colorado
(970) 776-3900
Listed by
Cole VanMeveren · License #FA. 100088218
Source
Crexi
Added: May 4 Updated: Jul 21 at 12:35PM Checked: Jul 21 at 12:35PM
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, Colorado
Investment Insights
Based on property information with market context.
This condo unit offers open space suitable for retail or flex use, along with 2–3 offices and two restrooms. One restroom includes an ADA-compliant shower. Building signage is available.
The property is centrally located at the intersection of Lemay Avenue and Prospect Road and is surrounded by restaurant and retail amenities.
The roof was replaced in 2018, and the unit features ample on-site parking.
The property is centrally located at the intersection of Lemay Avenue and Prospect Road and is surrounded by restaurant and retail amenities.
The roof was replaced in 2018, and the unit features ample on-site parking.
Key Highlights
- Flex condo offers open space plus 2–3 offices for retail or flexible use
- Includes 2 restrooms, including one with an ADA‑compliant shower
- Centrally located at the intersection of Lemay Avenue & Prospect Road near restaurant and retail amenities
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.4k | $22.68 |
| − Vacancy | −$3.4k | −$1.13 |
| EGI | $65.0k | $21.55 |
| − OpEx | −$19.5k | −$6.46 |
| NOI | $45.5k | $15.08 |
3,017 SF · lease $22.68/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$650.0K
$568.8K – $758.4K
NOI $45,503 @ 7.0% cap · market cap 8.35%
Second Best
Office B
$604.8K
$529.2K – $705.6K
NOI $42,336 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$785.6K
$687.4K – $916.6K
NOI $54,994 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Family Housing Network ...
Charitable Organization
Jing Wang: Allstate ...
Insurance Agency
Sport & Fitness Home ...
Gym & Fitness Center
STRAIGHTLINE FITNESS STUDIO
Gym & Fitness Center
Obee's
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Flex condo includes multiple offices, two restrooms, and ample on-site parking, with a roof replacement completed in 2018.
Where is this flex space located?
The property is located at 1606 South Lemay Avenue Fort Collins, CO.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Flex condo offers open space plus 2–3 offices for retail or flexible use; Includes 2 restrooms, including one with an ADA‑compliant shower; Centrally located at the intersection of Lemay Avenue & Prospect Road near restaurant and retail amenities
