Three-Level Professional Office
For Sale
$2,850,000
181 Boardwalk Dr, Fort Collins, CO 80525
Elevator access, ADA accommodations, and key card entry support daily operations.
Property Size14,977 SF
Lot Size0.58 Acres
Price / SF$190.29
Days on Market9
Property Features for 181 Boardwalk Dr
General Information
Standard status
Active
Size
14,977 SF
Elevators
Yes
Lot size
0.58 Acres
Property subtype
Office
Financials
Asking Price
$2,850,000
Gross Income
$200,000
Amenities
ADA accommodations
key card security
Central Air
3
C
Level
25452
Gutters, Sidewalks, Street Lights. Curbs Walk, Asphalt, City Road, US Highway, Level, Southern Exposure.
Building Details
Year Built
1997
Buildings
1
Stories
3
Building Size
14,977 SF
Listing Agency:
LC Real Estate Group, LLC
(970) 667-7000
Listed By:
Jerico Devlin · License #100054831
(970) 413-1182
Source:
Xome
Added: Aug 25
Changed: Sep 1
Last Checked: Sep 1 at 8:53PM
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 LC Real Estate Group, LLC
Investment Insights
Based on property information with market context.
Built in 1997, this approximately 14,977-square-foot office property occupies 0.58 acres and is arranged across three levels with flexible suite configurations. Recent interior updates include new carpet, refreshed paint, and LED lighting. The building is served by an elevator, includes ADA accommodations, and uses key card security. Central air and on-site parking are also provided.
Blue Federal Credit Union occupies approximately 5,598 RSF within the property. Additional parking is available through cross-parking arrangements. The building is located at 181 Boardwalk Dr in Fort Collins, near retail, restaurants, and service businesses. The offering includes an 8.25% pro forma capitalization rate.
Blue Federal Credit Union occupies approximately 5,598 RSF within the property. Additional parking is available through cross-parking arrangements. The building is located at 181 Boardwalk Dr in Fort Collins, near retail, restaurants, and service businesses. The offering includes an 8.25% pro forma capitalization rate.
Key Highlights
- Approximately 14,977 SF office building on 0.58 acres
- Three‑level configuration with flexible office suite layouts
- Approximately 5,598 RSF occupied by Blue Federal Credit Union
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
$210,164
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
7.37%
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%
$4,203,280
$4.2M
Cap Rate 7%
$3,002,343
$3.0M
Cap Rate 9%
$2,335,156
$2.3M
Market Conditions
NOI Build-Up for 14,977 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
$328.9K $21.96/SF
− Vacancy
−$48.7K −$3.25/SF
EGI
$280.2K $18.71/SF
− OpEx
−$70.1K −$4.68/SF
NOI
$210.2K $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%
$4,203,280
Cap Rate 7%
$3,002,343
Cap Rate 9%
$2,335,156
Alternative Uses
Best Use
Office B
$3.00M
$2.63M – $3.50M
NOI $210,164 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.90M
$3.41M – $4.55M
NOI $273,001 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,958
Businesses Nearby
Explore this area
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
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 - Elevator access, ADA accommodations, and key card entry support daily operations.
Where is this office building located?
The property is located at 181 Boardwalk Dr Fort Collins, CO.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Approximately 14,977 SF office building on 0.58 acres; Three‑level configuration with flexible office suite layouts; Approximately 5,598 RSF occupied by Blue Federal Credit Union
