Northern Colorado Investment
For Sale
$600,000
2649 E Mulberry St A-1, Fort Collins, CO 80524
Three fully leased commercial properties in Northern Colorado for sale.
Property Size2,377 SF
Days on Market122
Property Features for 2649 E Mulberry St A-1
General Information
Standard status
Active
Size
2,377 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,141
Building Details
Building Size
2,377 SF
Year Built
1999
Listing Agency:
Resident Realty
(703) 895-6690
Listed By:
Ashley M Hecker
(703) 895-6690
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 6:53AM
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 Resident Realty
Investment Insights
Based on property information with market context.
This is a rare investment offering of three fully leased commercial properties strategically located throughout northern Colorado. All buildings are occupied by a single, long-standing tenant in the funeral home industry with a strong regional presence and established client base. The portfolio delivers a combined annual rent of $238,410, supported by 2% annual rent escalations, providing reliable income with built-in growth. With stable occupancy and a tenant in a recession-resilient sector, this opportunity is ideal for investors seeking predictable cash flow and long-term holding potential. The property is located in Fort Collins, CO. The bike score is 53, indicating it is bikeable. The walk score is 18, indicating it is car-dependent. The transit score is 19, indicating minimal transit.
Key Highlights
- Portfolio of three fully leased commercial properties in Northern Colorado.
- Single, long‑standing tenant in the recession‑resilient funeral home industry.
- Combined annual rent of $238,410.
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
$35,850
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
5.98%
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%
$717,000
$717.0K
Cap Rate 7%
$512,143
$512.1K
Cap Rate 9%
$398,333
$398.3K
Market Conditions
NOI Build-Up for 2,377 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
$53.9K $22.68/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$51.2K $21.55/SF
− OpEx
−$15.4K −$6.46/SF
NOI
$35.9K $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%
$717,000
Cap Rate 7%
$512,143
Cap Rate 9%
$398,333
Alternative Uses
Best Use
Retail
$512.1K
$448.1K – $597.5K
NOI $35,850 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$619.0K
$541.6K – $722.1K
NOI $43,328 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
Explore this area
Business Placement
Demographics for 80524, CO
39,030
Population
17,548
Households
2.2
Avg Household Size
37
Median Age
52%
College-Educated
94%
High-School Grad
122.7 sq mi
ZIP Area
318
Density / Sq Mi
$84,440
Median Household Income
$45,046
Median Earnings
$1,623
Median Rent
$527,700
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 property - Three fully leased commercial properties in Northern Colorado for sale.
Where is this retail property located?
The property is located at 2649 E Mulberry St A-1 Fort Collins, CO.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Portfolio of three fully leased commercial properties in Northern Colorado.; Single, long‑standing tenant in the recession‑resilient funeral home industry.; Combined annual rent of $238,410.
