Second Floor Office
For Sale
$850,000
Pending
2120 Milestone #201, Fort Collins, CO 80525
Office condo with high-end finishes and multiple private offices.
Property Size3,799 SF
Lot Size0.09 Acres
Days on Market830
Property Features for 2120 Milestone #201
General Information
Standard status
Pending
Size
3,799 SF
Lot size
0.09 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$36,100
Amenities
Central air
Central Air Cooling
City Limits
Composition Roof
Covenants
Curbs
Fire Hydrant within 500 Feet
Fire Sprinklers
Forced Air Heating
Gutters
Lawn Sprinkler System
Paved
Paved Parking
Sidewalks
Street Light
Building Details
Year Built
2005
Listing Agency:
Group Harmony
(970) 229-0700
Listed By:
CRAIG C HAU
(970) 377-4979
Source:
Corcoran
Added: May 30, 2024
Changed: Aug 8
Last Checked: Jul 23 at 8:10AM
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 Group Harmony
Investment Insights
Based on property information with market context.
This second-floor office condo offers 3,799 square feet (5,096 rentable square feet) of space. The property features high-end finishes throughout, multiple private offices, a conference room, and two private restrooms. Additional amenities include a reception area, a lunch/break room, and an IT room. The property also includes a common area lobby with elevator access. There are four balconies included in the square footage.
Key Highlights
- 3,799 SF Office Condo with High‑End Finishes
- Features multiple private offices and a conference room
- Includes two private restrooms and a lunch/break room
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
$53,309
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
6.27%
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%
$1,066,180
$1.1M
Cap Rate 7%
$761,557
$761.6K
Cap Rate 9%
$592,322
$592.3K
Market Conditions
NOI Build-Up for 3,799 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
$83.4K $21.96/SF
− Vacancy
−$12.3K −$3.25/SF
EGI
$71.1K $18.71/SF
− OpEx
−$17.8K −$4.68/SF
NOI
$53.3K $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%
$1,066,180
Cap Rate 7%
$761,557
Cap Rate 9%
$592,322
Alternative Uses
Best Use
Office B
$761.6K
$666.4K – $888.5K
NOI $53,309 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$989.3K
$865.6K – $1.15M
NOI $69,248 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,815
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 units - Office condo with high-end finishes and multiple private offices.
Where is this office units located?
The property is located at 2120 Milestone #201 Fort Collins, CO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,799 SF Office Condo with High‑End Finishes; Features multiple private offices and a conference room; Includes two private restrooms and a lunch/break room
