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Property profile & analytics
FOR LEASE
Strip malls
1119 W Drake Rd W 31 Fort Collins, CO 80526
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US13-1299515
For Lease
1 / 2
$18 SF/Yr
1119 W Drake Rd W 31, Fort Collins, CO 80526
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,177 SF
Lot
2.26 ac (98,402 SF)
APN
97271-58-002
UPID
US13-1299515
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Eclectic Reader (Bike/Boat/Book/etc) Store
-
Gryphon Games and Comics (Bike/Boat/Book/etc) Store Newspaper & Magazine
-
Ram Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
USPS COLLECTION BOX Post Office
-
Smokey Monkey Pipes And Tobacco (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.25M
Owner & transaction history
3l Heritage Holdings LLC · 5 yrs held
3l Heritage Holdings LLC
since 2021
Last sale
$4.3M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.2M
+213.1%
Restaurant
$4.0M
+202.3%
Office building
$3.9M
+193.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Collins submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Collins submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,280,000
ML approach
$4,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,185,000
Change: +213% · Conversion: Easy
RESTAURANT
$4,040,000
Change: +202% · Conversion: Difficult
OFFICE BUILDING
$3,920,000
Change: +193% · Conversion: Moderate
MEDICAL BUILDING
$3,915,000
Change: +193% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,505,000
Change: +162% · Conversion: Difficult
RETAIL STORES
$3,085,000
Change: +131% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,965,000
Change: +122% · Conversion: Difficult
Blend value · Realmo final
$4.25M
Range $3.83M – $4.68M · ±10% · vs last sale $4.25M (Jul 14 2021)
Last sale anchor
$4.25M
Jul 14 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$169 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$117,553
Tax year 2023
Assessed value
$1,295,983
Assessed 2023
Previous assessed
$948,300
+36.7% YoY
Effective rate
9.07%
On assessed value
Assessed land
$274,536
Assessed improvement
$1,021,447
Land market value
$984,000
Improvement market value
$3,661,100
Total market value
$4,645,100
Applied tax rate
1,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
12
Total area
25,177 SF
Lot
2.26 ac (98,402 SF)
APN
97271-58-002
UPID
US13-1299515
Jurisdiction
LARIMER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$4.2M
RESTAURANT
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$3.9M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
RETAIL STORES
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
12
Lot
2.26 ac
Current owner
From public records · entity-resolved
3l Heritage Holdings LLC
Entity
Mailing address
15840 JACKSON ST, BRIGHTON, CO 80602-7795
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2021
$4,250,000
3l Heritage Holdings LLC
James A Gagliardi
Special Warranty Deed
$3,187,500 · Firstbank
Dec 16, 2009
—
North College Lofts LLC
—
Trustees Deed
related
$750,000 · Timothy W Hasler
Nov 5, 2009
—
Gagliardi Trust
Gagliardi,james A & Nohra
Quit Claim Deed
related
—
—
—
James A Gagliardi
—
Deed Of Trust
related
$375,000 · Cimarron Partners LP
—
—
Gagliardi Trust
—
Deed Of Trust
related
$927,588 · Bank Of The West
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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