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    Property profile & analytics

    1501 Elizabeth St Fort Collins, CO 80521-5006

    • Strip malls
    • 15,612 SF
    • 1.46 lot acres
    OFF-MARKET
    Last Sale
    Sep 19, 2022
    $15,288
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0408975
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sherpa Grill 2 Indian & Nepali Restaurant / Restaurant
    • TECATE GRILL FAMILY MEXICAN RESTAURANT / Restaurant
    • Blackjack Pizza & Salads / Restaurant
    • C & C Liquor and Vape / (Bike/Boat/Book/etc) Store
    • Munchies Smoke Shop & Supermarket / Specialty Food Shop / Supermarket

    Property Details for 1501 Elizabeth St

    Year built
    2015
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.46 lot acres
    Property size
    15,612 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    97154-40-001
    APU
    9715440001

    Description

    This exceptional mixed-use, multifamily, and retail property at 1501 W Elizabeth St, Fort Collins, CO 80521, presents a compelling investment opportunity. Boasting 63,598 total square feet, including 15,700 square feet of net rentable space, this Class A property is currently 100% occupied by five tenants under NNN leases. Built in 2015, the center sits on a 1.46-acre lot zoned (CC) County Commercial and features built-in rent bumps. The property's strong performance is reflected in its impressive $376,533 NOI and 6.02% cap rate. Located near Colorado State University, this highly visible and accessible center benefits from significant foot traffic and convenient access. The asking price is $6,250,000. This thriving retail hub offers both stability and significant growth potential for the discerning investor. The property's prime location and strong tenant base make it an ideal addition to any portfolio. This owner/user investment opportunity is a rare find in the competitive Fort Collins market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Collins
    County
    Larimer
    State
    Colorado
    Longitude
    -105.103
    Latitude
    40.5741
    CBSA code
    22660
    CBSA name
    FORT COLLINS-LOVELAND, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $62,912
    $266,138
    $431,334
    $697,472
    -
    $953,900
    $1,546,000
    $2,499,900

    Comparable in this City

    • Value Estimation by Request
      10,077 SF

      1110 Elizabeth St

      SHOPPING CENTER, STRIP CENTER • 10,077 SF
      1110 Elizabeth St, Fort Collins, CO 80521-4507
      View Details
    • Value Estimation
      $545,000
      13,664 SF

      1232 Elizabeth St

      SHOPPING CENTER, STRIP CENTER • 13,664 SF
      1232 Elizabeth St, Fort Collins, CO 80521-4567
      View Details
    • Value Estimation
      $510,000
      12,000 SF

      925 Taft Hl Rd

      SHOPPING CENTER, STRIP CENTER • 12,000 SF
      925 Taft Hl Rd, Fort Collins, CO 80521-3254
      View Details
    • Value Estimation
      $845,000
      12,120 SF

      1205 Elizabeth St Ste A

      SHOPPING CENTER, STRIP CENTER • 12,120 SF
      1205 Elizabeth St Ste A, Fort Collins, CO 80521-4563
      View Details
    • Value Estimation by Request
      4,980 SF

      1336 Elizabeth St

      SHOPPING CENTER, STRIP CENTER • 4,980 SF
      1336 Elizabeth St, Fort Collins, CO 80521-4511
      View Details
    • Value Estimation by Request
      0.00 Acres

      210 Magnolia St, Unit P-2

      PARKING GARAGE, PARKING STRUCTURE • 0.00 Acres
      210 Magnolia St, Fort Collins, CO 80521-2915
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $18 SF/Yr
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      Retail Space Near Colorado State

      Retail opportunity near Colorado State University with modern upgrades.
      1232 W Elizabeth St, Fort Collins, CO 80521
      View Details
    • $18 SF/Yr
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      Campus West Retail Space Available

      Flexible retail space in established Campus West shopping center.
      1101-1129 West Elizabeth St, Fort Collins, CO 80521
      View Details
    • $17 SF/Yr

      Campus West Retail/Restaurant Space

      Restaurant or retail space for lease in Campus West.
      1101 W Elizabeth St, Fort Collins, CO 80521
      View Details
    • Contact for pricing
      3,600 SF

      Retail Space Near CSU

      Retail space for lease in established Fort Collins neighborhood.
      505-511 S Shields St, Fort Collins, CO 80521
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    • $18 SF/Yr
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      Remodeled Retail Space Near CSU

      Remodeled retail space in Campus West shopping center.
      1205 W Elizabeth St, Fort Collins, CO 80521
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    • $1,975 /Mo
      1,208 SF

      Creative Office Space in Fort Collins

      Flexible office space in Old Town West, Fort Collins.
      210 W Magnolia St, Fort Collins, CO 80521
      View Details
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    Fort Collins, CO 80521-5006
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    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
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