Downtown Fort Collins Office
For Sale
$1,900,000
230 Cherry Street Fort, Fort Collins, CO 80521
Premier office building in vibrant downtown Fort Collins, Colorado.
Property Size8,382 SF
Days on Market128
Property Features for 230 Cherry Street Fort
General Information
Standard status
Active
Size
8,382 SF
Class
A
Property subtype
Office
Zoning
D
Building Details
Building Size
8,382 SF
Year Built
1974
Listing Agency:
RE/MAX
(970) 482-1781
Listed By:
Nick Whitworth · License #FA100069182
(970) 482-1781
Source:
Remaxcommercial
Added: Apr 24
Changed: Aug 25
Last Checked: Aug 29 at 5:47AM
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 RE/MAX
Investment Insights
Based on property information with market context.
This office building is located in Downtown Fort Collins, one of Colorado's vibrant and fast-growing business districts. The property combines modern functionality with historic downtown charm, suitable for companies seeking visibility, convenience, and a professional atmosphere. The professional office layout includes private offices, conference rooms, open work areas, a spacious break room area, and private restrooms on each floor. An expansive second-floor deck is also featured. The location is near Old Town Square, restaurants, shops, bike paths, and community events. The property is suitable for expanding operations, seeking a flagship location, or investing in a high-demand commercial asset. The location has a bike score of 100, a walk score of 94, and a transit score of 47.
Key Highlights
- Premier office building in Downtown Fort Collins.
- Unbeatable location steps from Old Town Square, restaurants, shops, bike paths, and community events.
- Professional office layout with private offices, conference rooms, open work areas, and spacious 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
$117,620
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
6.19%
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%
$2,352,400
$2.4M
Cap Rate 7%
$1,680,286
$1.7M
Cap Rate 9%
$1,306,889
$1.3M
Market Conditions
NOI Build-Up for 8,382 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
$184.1K $21.96/SF
− Vacancy
−$27.2K −$3.25/SF
EGI
$156.8K $18.71/SF
− OpEx
−$39.2K −$4.68/SF
NOI
$117.6K $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%
$2,352,400
Cap Rate 7%
$1,680,286
Cap Rate 9%
$1,306,889
Alternative Uses
Best Use
Office B
$1.68M
$1.47M – $1.96M
NOI $117,620 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,787 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 80521, CO
37,451
Population
15,121
Households
2.5
Avg Household Size
26
Median Age
63%
College-Educated
98%
High-School Grad
14.0 sq mi
ZIP Area
2,675
Density / Sq Mi
$52,679
Median Household Income
$15,918
Median Earnings
$1,412
Median Rent
$541,300
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 - Premier office building in vibrant downtown Fort Collins, Colorado.
Where is this office building located?
The property is located at 230 Cherry Street Fort Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Premier office building in Downtown Fort Collins.; Unbeatable location steps from Old Town Square, restaurants, shops, bike paths, and community events.; Professional office layout with private offices, conference rooms, open work areas, and spacious break room.
