Restored Historic Office
For Sale
$1,150,000
312 Mulberry St 312 E 312 St, Fort Collins, CO 80524
Restored 1905 building offers private offices, conference space, reception area, and on-site parking with strong street visibility.
Property Size2,684 SF
Price / SF$428.46
Days on Market51
Property Features for 312 Mulberry St 312 E 312 St
General Information
Standard status
Active
Size
2,684 SF
Property subtype
Mixed Use
Zoning
NCB
Additional Details
Office Units
4
Taxes and HOA fees
Annual Taxes
$11,504
Amenities
conference room
reception area
on-site parking
Central Air
Full
3
Wood
Fire Alarm
Internet Connection
Composition
Partial
NCB
Fenced Yard.
Brick
City
Level
9500.0
Sidewalks, Gutters, Street Lights. Curbs Walk, City Road, Concrete Road, Alley, Level, Southern Exposure.
Building Details
Year Built
1905
Listing Agency:
(970) 988-9367
Listed By:
Downtown Real Estate Brokers
(970) 988-9367
Source:
Xome
Added: Jul 6
Changed: Aug 25
Last Checked: Aug 25 at 5:20AM
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 Downtown Real Estate Brokers
Investment Insights
Based on property information with market context.
Originally constructed in 1905 as the Fothergill Residence, this restored property blends historic character with modern systems and finishes. Recent upgrades include completely updated electrical wiring, a brand-new designer kitchen, and two remodeled bathrooms. The upper level provides four spacious private offices, along with a large conference room and a welcoming reception or waiting area, with abundant natural light throughout.
The building is positioned for strong street visibility and signage opportunities, and it includes on-site parking. Neighborhood Commercial Buffer (NCB) zoning provides flexibility for uses beyond traditional office.
The property is described as well suited for professional office and service uses, with zoning flexibility that may also accommodate a broader range of potential concepts subject to City approval.
The building is positioned for strong street visibility and signage opportunities, and it includes on-site parking. Neighborhood Commercial Buffer (NCB) zoning provides flexibility for uses beyond traditional office.
The property is described as well suited for professional office and service uses, with zoning flexibility that may also accommodate a broader range of potential concepts subject to City approval.
Key Highlights
- Historic 1905 Fothergill Residence restored with updated modern systems and finishes
- Completely updated electrical wiring plus brand‑new designer kitchen by Connely Custom Cabinetry
- Two remodeled bathrooms and abundant natural light throughout
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
$37,663
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
3.28%
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%
$753,260
$753.3K
Cap Rate 7%
$538,043
$538.0K
Cap Rate 9%
$418,478
$418.5K
Market Conditions
NOI Build-Up for 2,684 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
$58.9K $21.96/SF
− Vacancy
−$8.7K −$3.25/SF
EGI
$50.2K $18.71/SF
− OpEx
−$12.6K −$4.68/SF
NOI
$37.7K $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%
$753,260
Cap Rate 7%
$538,043
Cap Rate 9%
$418,478
Alternative Uses
Best Use
Office B
$538.0K
$470.8K – $627.7K
NOI $37,663 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.9K
$611.6K – $815.4K
NOI $48,924 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
28
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 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 building - Restored 1905 building offers private offices, conference space, reception area, and on-site parking with strong street visibility.
Where is this office building located?
The property is located at 312 Mulberry St 312 E 312 St Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Historic 1905 Fothergill Residence restored with updated modern systems and finishes; Completely updated electrical wiring plus brand‑new designer kitchen by Connely Custom Cabinetry; Two remodeled bathrooms and abundant natural light throughout
