Fort Collins Medical Office
383 W Drake Rd Fort Collins, CO 80526
383 W Drake Rd, Fort Collins, CO, 80526
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For Sale
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Medical office condominium in Fort Collins' Drake Office Park.
Property Size3,397 SF
Price / SF$176.33
Days on Market1788
Property Features for 383 W Drake Rd
General Information
- Standard status
- Active
- Size
- 3,397 SF
- Property subtype
- Office
Building Details
- Year Built
- 1983
Listing agency
CBRE
(970) 305-8113
Listed by
Lauren Larsen · License #FA.100094202
Source
Crexi
Added: Aug 30, 2021 Updated: Jul 10 at 11:23AM Checked: Jul 21 at 4:27AM
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
Investment Insights
Based on property information with market context.
This dental/medical office condominium is located in mid-town Fort Collins within the Drake Office Park. The available unit, totaling 3397 square feet, features a large reception area, private offices, several private exam rooms, a large clinic with windows, an in-house dental lab, and a private kitchenette. Restrooms are located within the space.
Key Highlights
- Below market seller financing or 1 year free rent (for qualified buyer/tenant)
- Turnkey dental/medical office condominium
- Multiple private exam rooms and private offices
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.6k | $21.96 |
| − Vacancy | −$11.0k | −$3.25 |
| EGI | $63.6k | $18.71 |
| − OpEx | −$15.9k | −$4.68 |
| NOI | $47.7k | $14.03 |
3,397 SF · lease $21.96/SF/yr · vacancy 14.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$681.0K
$595.9K – $794.5K
NOI $47,668 @ 7.0% cap · market cap 7.96%
Second Best
Healthcare Medical
$675.1K
$590.7K – $787.6K
NOI $47,254 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$884.6K
$774.0K – $1.03M
NOI $61,921 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dumpsters Drake Rd
Waste Management Facility
Northern Colorado FOP ...
Corporate Office
Open Pathways
Training Center
Zuber Jean
Insurance Agency
Weekend Chiropractic
Alternative Medicine Practice
Similar For Sale Nearby
Similar Off Market Nearby
- Campus West Vets — 2737 S Shields St, Fort Collins, CO 80526
- Williams Elayne DVM — 344 E Foothills Pkwy # 22E, Fort Collins, CO 80525
- Dr. Julia Donnelly - Aspen Grove Veterinary Care — 2633 S College Ave, Fort Collins, CO 80525
- Dr. Sherry Schubert - Aspen Grove Veterinary Care — 2633 S College Ave, Fort Collins, CO 80525, United States
- Raintree West Inc — 2906 alamo ave, fort collins, co 80525
FAQs
What type of property is this?
Medical Office Space - Medical office condominium in Fort Collins' Drake Office Park.
Where is this medical office space located?
The property is located at 383 W Drake Rd Fort Collins, CO.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Below market seller financing or 1 year free rent (for qualified buyer/tenant); Turnkey dental/medical office condominium; Multiple private exam rooms and private offices
