Fort Collins Office Investment
For Sale
$1,200,000
2002 Caribou Dr 101, Fort Collins, CO 80525
Office space for sale in Timberline Office Park.
Property Size5,568 SF
Lot Size0.33 Acres
Days on Market157
Property Features for 2002 Caribou Dr 101
General Information
Standard status
Active
Size
5,568 SF
Lot size
0.33 Acres
Property subtype
Commercial
Building Details
Building Size
5,568 SF
Year Built
2004
Listing Agency:
The Group;, Inc. Real Estate
(970) 229-0700
Listed By:
Craig C Hau
(970) 229-0700
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 12:05PM
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 The Group;, Inc. Real Estate
Investment Insights
Based on property information with market context.
This is a high-quality office investment opportunity located in the Timberline Office Park in South Central Fort Collins. Suite 101 is currently occupied and will be available for a new tenant or owner-user starting January 1, 2025.
Key Highlights
- High‑quality office investment opportunity.
- Located in the coveted Timberline Office Park, in South Central Fort Collins.
- Suite 101 is currently occupied, providing immediate income.
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
$78,133
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
6.51%
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%
$1,562,660
$1.6M
Cap Rate 7%
$1,116,186
$1.1M
Cap Rate 9%
$868,144
$868.1K
Market Conditions
NOI Build-Up for 5,568 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
$122.3K $21.96/SF
− Vacancy
−$18.1K −$3.25/SF
EGI
$104.2K $18.71/SF
− OpEx
−$26.0K −$4.68/SF
NOI
$78.1K $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%
$1,562,660
Cap Rate 7%
$1,116,186
Cap Rate 9%
$868,144
Alternative Uses
Best Use
Office B
$1.12M
$976.7K – $1.30M
NOI $78,133 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,494 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,039
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office space for sale in Timberline Office Park.
Where is this office units located?
The property is located at 2002 Caribou Dr 101 Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High‑quality office investment opportunity.; Located in the coveted Timberline Office Park, in South Central Fort Collins.; Suite 101 is currently occupied, providing immediate income.
