Third-Floor Executive Office
For Sale
Contact for pricing
3600 Mitchell Drive, Fort Collins, CO 80525
Third-floor office condominium with private offices, conference room, open work areas, reception, and on-site storage.
Property Size5,358 SF
Price / SF$297.69
Days on Market214
Property Features for 3600 Mitchell Drive
General Information
Standard status
Active
Size
5,358 SF
Property subtype
Retail
Building Details
Stories
3
Listing Agency:
Cushman & Wakefield - Fort Collins, Colorado
Listed By:
Cole VanMeveren · License #FA. 100088218
(970) 219-3802
Source:
Crexi
Added: Feb 3
Changed: Aug 31
Last Checked: Sep 2 at 5:36PM
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 Cushman & Wakefield - Fort Collins, Colorado
Investment Insights
Based on property information with market context.
An executive third-floor office condominium offered for sale in the Opera Galleria. The suite is designed for a professional services setup and includes executive-sized private offices, a spacious conference room, open work areas, a welcoming reception, and on-site storage.
Located at 3600 Mitchell Dr, Fort Collins, CO 80525, the efficient layout can also support an office-share arrangement or other flexible professional uses. The space is well configured for organizations that need both dedicated offices and shared collaboration areas within a single suite.
Located at 3600 Mitchell Dr, Fort Collins, CO 80525, the efficient layout can also support an office-share arrangement or other flexible professional uses. The space is well configured for organizations that need both dedicated offices and shared collaboration areas within a single suite.
Key Highlights
- Third‑floor office condominium in the Opera Galleria
- Includes executive‑sized private offices
- Spacious conference room for client meetings and team collaboration
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
$75,186
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
4.71%
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%
$1,503,720
$1.5M
Cap Rate 7%
$1,074,086
$1.1M
Cap Rate 9%
$835,400
$835.4K
Market Conditions
NOI Build-Up for 5,358 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
$117.7K $21.96/SF
− Vacancy
−$17.4K −$3.25/SF
EGI
$100.2K $18.71/SF
− OpEx
−$25.1K −$4.68/SF
NOI
$75.2K $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%
$1,503,720
Cap Rate 7%
$1,074,086
Cap Rate 9%
$835,400
Alternative Uses
Best Use
Office B
$1.07M
$939.8K – $1.25M
NOI $75,186 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,666 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,022
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 - Third-floor office condominium with private offices, conference room, open work areas, reception, and on-site storage.
Where is this office units located?
The property is located at 3600 Mitchell Drive Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Third‑floor office condominium in the Opera Galleria; Includes executive‑sized private offices; Spacious conference room for client meetings and team collaboration
