Restaurant Opportunity Near Harmony
For Sale
Contact for pricing
2400 E Harmony Rd, Fort Collins, CO 80528
Turn-key restaurant for sale or lease near new construction.
Property Size4,109 SF
Price / SF$590.17
Days on Market798
Property Features for 2400 E Harmony Rd
General Information
Standard status
Active
Size
4,109 SF
Property subtype
Retail
Zoning
HC
Listing Agency:
Cushman & Wakefield - Fort Collins, Colorado
(970) 776-3900
Listed By:
Cole VanMeveren · License #FA. 100088218
Source:
Crexi
Added: Jun 6, 2024
Changed: Aug 12
Last Checked: May 13 at 12:07AM
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.
A turn-key restaurant is available for sale or lease at The Villaggio. The location is adjacent to new residential construction, hospital and health facilities, and multiple office parks, including Harmony Technology Park and the HP/Broadcom campus. Situated on Harmony Road, the property benefits from high visibility, substantial traffic, favorable demographics, and convenient access to I-25. The property offers two opportunities for building signage, allowing capture of both west and east-bound traffic. The property size is 4109 square feet.
Key Highlights
- High visibility location on Harmony Road with significant traffic.
- Turn‑key restaurant ready for immediate operation.
- Proximity to new residential construction, hospital/health facilities, and office parks (Harmony Technology Park, HP/Broadcom).
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
$70,634
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
2.91%
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%
$1,412,680
$1.4M
Cap Rate 7%
$1,009,057
$1.0M
Cap Rate 9%
$784,822
$784.8K
Market Conditions
NOI Build-Up for 4,109 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
$98.6K $24.00/SF
− Vacancy
−$4.4K −$1.08/SF
EGI
$94.2K $22.92/SF
− OpEx
−$23.5K −$5.73/SF
NOI
$70.6K $17.19/SF
Area
Fort Collins, CO
Vacancy
4.50%
Lease Rate
$24.00 /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%
$1,412,680
Cap Rate 7%
$1,009,057
Cap Rate 9%
$784,822
Alternative Uses
Best Use
Specialty Retail
$1.01M
$882.9K – $1.18M
NOI $70,634 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$936.2K – $1.25M
NOI $74,899 @ 7.0% cap · market cap 3.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,829
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80528, CO
23,660
Population
8,986
Households
2.6
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
18.5 sq mi
ZIP Area
1,279
Density / Sq Mi
$122,133
Median Household Income
$57,739
Median Earnings
$1,906
Median Rent
$654,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turn-key restaurant for sale or lease near new construction.
Where is this conventional restaurant located?
The property is located at 2400 E Harmony Rd Fort Collins, CO.
What is the asking price?
The asking price for this property is $2,425,000.
What are key features of this property?
This property features: High visibility location on Harmony Road with significant traffic.; Turn‑key restaurant ready for immediate operation.; Proximity to new residential construction, hospital/health facilities, and office parks (Harmony Technology Park, HP/Broadcom).
