Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1918 Lemay Ave Fort Collins, CO 80524

    Sponsored
    For Sale
    $1,550,000

    Two-building retail campus, 9,921 SF

    Property size:
    9,921 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This exceptional investment opportunity presents a two-building retail campus totaling 9,921 square feet situated on a 0.62-acre lot in Fort Collins, Colorado. The property, built in 1980, offers a unique campus-like setting with outdoor patio space and currently houses seven tenants. Each building is available for individual purchase at $800,000, or both can be acquired together for $1,550,000. The first building, located at 1918 S Lemay Ave, comprises 4,992 square feet (3,358 square feet on the main and upper levels, plus a 1,634 square foot basement), priced at $160 per square foot. The second building, situated at 1113 Stoney Hill Dr, offers 4,929 square feet (3,295 square feet on the main and upper levels, and a 1,634 square foot basement), priced at $162 per square foot. When purchased together, the combined 9,921 square feet is offered at $156 per square foot. The property is zoned 'RL' Low Density Residential District, presenting a compelling opportunity for investors seeking a diverse tenant base and attractive return on investment in a desirable Fort Collins location.

    Property Features for 1918 Lemay Ave

    General Information

    Property type
    Retail properties
    Square Feet
    9,921 SF
    Lot Size
    27,007 SF

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Michelle Hickey Crawford

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    MANTRA Gym & Fitness Center Under Pressure Therapeutics Alternative Medicine Practice Divine Essence Aesthetics Spa & Massage Center Askew & Gray Physician Full Cadence Consulting Consultant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Collins
    County
    Larimer
    State
    Colorado
    Longitude
    -105.0089888
    Latitude
    40.6358803

    Nearby Similar for Sale

    • $1,600,000
      0.11 Acres

      Fort Collins Medical Office Building

      7,100 SF medical office in central Fort Collins.
      375 E Horsetooth Rd, Fort Collins, CO 80525
      View Details
    • $800,000
      Pending

      Fort Collins Income Property

      Income property with low vacancy and potential for increased cashflow.
      701 Aztec Dr, Fort Collins, CO 80521
      View Details
    • $669,000
      2,028 SF

      Remodeled Duplex Near Downtown

      Remodeled 4-bedroom duplex near downtown Fort Collins with rental income.
      604 Colorado St, Fort Collins, CO 80524
      View Details
    • $300,000
      0.03 Acres

      Move-in Ready Office Suite

      First-floor office suite in Spring Creek Business Park.
      2001 S Shields St, Fort Collins, CO 80526
      View Details
    • $890,000
      0.39 Acres

      Medical Office on Horsetooth

      Well-maintained medical office, potential for standard office conversion.
      1424 E Horsetooth Rd, Fort Collins, CO 80525
      View Details
    • $2,400,000
      0.18 Acres

      Old Town Fort Collins Investment

      Fully leased commercial property in the heart of Old Town.
      140 W Oak St, Fort Collins, CO 80524
      View Details
    • $615,000
      2,172 SF

      Three-Unit Property Near City Park

      Three units near CSU, Old Town, and City Park.
      1127 W Mulberry St, Fort Collins, CO 80521
      View Details
    • $725,000
      0.30 Acres

      Fort Collins Office Condo For Sale

      Professional office condo in high-traffic Fort Collins location.
      3726 S Timberline Rd, Fort Collins, CO 80525
      View Details
    • $1,700,000
      0.13 Acres

      Fort Collins Mixed-Use Opportunity

      Two buildings with potential for residential or commercial redevelopment.
      424 Maple St, Fort Collins, CO 80521
      View Details
    • $195,000
      0.06 Acres

      Fort Collins Office Suite For Sale

      Midtown office suite with leased offices, new HVAC system.
      155 W Harvard St, Fort Collins, CO 80525
      View Details
    • $600,000
      0.33 Acres

      Fort Collins Office Investment Opportunity

      Office space in Timberline Office Park, South Central Fort Collins.
      2002 Caribou Dr, Fort Collins, CO 80525
      View Details
    • $900,000
      0.33 Acres

      Fort Collins Office Investment Opportunity

      Office space in Timberline Office Park, South Central Fort Collins.
      2002 Caribou Dr, Fort Collins, CO 80525
      View Details

    FAQs

    What type of property is this?
    Retail property - Two-building retail campus, 9,921 SF
    Where is this retail property located?
    The property is located at 1918 Lemay Ave Fort Collins, CO.
    What is the asking price?
    The asking price for this property is $1,550,000.
    Request Owner's contact information
    1918 Lemay Ave Fort Collins, CO 80524
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1918 Lemay Ave
    Fort Collins, CO 80524
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1918 Lemay Ave Fort Collins, CO 80524
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michelle Hickey Crawford
    Learn more
    Google sign-in failed. Please try again or use another login method.