Adaptable Retail/Flex Building For
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819 E Mulberry St, Fort Collins, CO 80524
5,840 SF building with showroom, office, and warehouse space.
Property Size5,840 SF
Lot Size0.43 Acres
Price / SF$265.41
Days on Market87
Property Features for 819 E Mulberry St
General Information
Standard status
Active
Size
5,840 SF
Total Parking Spaces
17
Lot size
0.43 Acres
Property subtype
Retail, Office, Industrial
Zoning
C-L (Commercial Limited District)
Building Details
Year Built
1965
Stories
1
Tenancy
Single
Listing Agency:
CBRE - Fort Collins
(970) 402-5170
Listed By:
TJ Antinora · License #100066530
Source:
Crexi
Added: May 16
Changed: Aug 8
Last Checked: Aug 8 at 7:14AM
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.
This 5,840 SF building offers a blend of showroom, office, and warehouse space suitable for various owner-users. The property features a windowed showroom with a front reception area, multiple private offices, three restrooms, and a breakroom. The warehouse space includes two overhead doors, with the potential to add a third. Constructed of masonry, the building is located on a 0.43-acre site and provides ample on-site parking. Significant capital improvements have been made, including a new roof installed in 2018. The property's layout, visibility, and zoning make it suitable for retail, dealer, service, or light industrial businesses seeking a durable and adaptable facility.
Key Highlights
- Versatile layout suitable for retail, dealership, service, or light industrial use.
- High visibility and flexible zoning.
- Functional blend of showroom, office, and warehouse space.
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
$88,080
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
5.68%
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%
$1,761,600
$1.8M
Cap Rate 7%
$1,258,286
$1.3M
Cap Rate 9%
$978,667
$978.7K
Market Conditions
NOI Build-Up for 5,840 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
$132.5K $22.68/SF
− Vacancy
−$6.6K −$1.13/SF
EGI
$125.8K $21.55/SF
− OpEx
−$37.7K −$6.46/SF
NOI
$88.1K $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%
$1,761,600
Cap Rate 7%
$1,258,286
Cap Rate 9%
$978,667
Alternative Uses
Best Use
Retail
$1.26M
$1.10M – $1.47M
NOI $88,080 @ 7.0% cap · market cap 5.68%
Second Best
Mixed Use
$1.19M
$1.04M – $1.38M
NOI $83,056 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,452 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,467
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 5,840 SF building with showroom, office, and warehouse space.
Where is this mixed-use property located?
The property is located at 819 E Mulberry St Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Versatile layout suitable for retail, dealership, service, or light industrial use.; High visibility and flexible zoning.; Functional blend of showroom, office, and warehouse space.
