Retail Space with Patio
For Sale
Contact for pricing
2427-2451 S College Ave, Fort Collins, CO 80525
Retail space featuring patio seating and recent exterior and site upgrades, offered at 2427–2451 S College Ave.
Property Size2,363 SF
Price / SF$535
Days on Market675
Property Features for 2427-2451 S College Ave
General Information
Standard status
Active
Size
2,363 SF
Property subtype
RETAIL
Amenities
patio seating
Listing Agency:
CBRE - Fort Collins
(970) 219-7376
Listed By:
Melissa Moran
(970) 219-7376
Source:
Moodyscre
Added: Oct 3, 2024
Changed: Jul 29
Last Checked: Aug 8 at 12:20PM
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 CBRE - Fort Collins
Investment Insights
Based on property information with market context.
Retail space at 2427–2451 S College Ave in Fort Collins, Colorado, with patio seating and recent improvements including new lighting, a new parking lot, a new roof, and an updated facade. The available units can be combined to support larger space requirements.
The property is positioned on the west side of South College just north of the intersection with Drake Road. It is immediately adjacent to the new King Soopers, now open.
Planned and proposed redevelopment in the surrounding area includes a Bank of America projected to break ground mid-2026. The north side of the property includes a proposed Edison multi-family development with 224 apartment units, and the east side includes a proposed National Bank redevelopment. Colorado State University is approximately 1 mile away with approximately 24,433 students.
The property is positioned on the west side of South College just north of the intersection with Drake Road. It is immediately adjacent to the new King Soopers, now open.
Planned and proposed redevelopment in the surrounding area includes a Bank of America projected to break ground mid-2026. The north side of the property includes a proposed Edison multi-family development with 224 apartment units, and the east side includes a proposed National Bank redevelopment. Colorado State University is approximately 1 mile away with approximately 24,433 students.
Key Highlights
- 2363 SF retail space at 2427–2451 S College Ave
- Patio seating
- Recent upgrades include new roof, new parking lot, and updated facade
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
$35,639
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
2.82%
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%
$712,780
$712.8K
Cap Rate 7%
$509,129
$509.1K
Cap Rate 9%
$395,989
$396.0K
Market Conditions
NOI Build-Up for 2,363 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
$53.6K $22.68/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$50.9K $21.55/SF
− OpEx
−$15.3K −$6.46/SF
NOI
$35.6K $15.08/SF
Area
Fort Collins, CO
Vacancy
5.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
30.00%
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%
$712,780
Cap Rate 7%
$509,129
Cap Rate 9%
$395,989
Alternative Uses
Best Use
Retail
$509.1K
$445.5K – $594.0K
NOI $35,639 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$615.3K
$538.4K – $717.9K
NOI $43,073 @ 7.0% cap · market cap 3.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,667
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space featuring patio seating and recent exterior and site upgrades, offered at 2427–2451 S College Ave.
Where is this retail space located?
The property is located at 2427-2451 S College Ave Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,264,205.
What are key features of this property?
This property features: 2363 SF retail space at 2427–2451 S College Ave; Patio seating; Recent upgrades include new roof, new parking lot, and updated facade
