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    Property profile & analytics

    1624 Lemay Ave Fort Collins, CO 80525-1188

    • Strip malls
    • 12,144 SF
    • 1.49 lot acres
    OFF-MARKET
    Value Estimations
    $800,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-2576656
    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

    • Rally King Brewing / Production Facility / Brewery & Distillery
    • East Moon Asian Bistro / Restaurant
    • Studio PINK / Hair Salon
    • The Axe & Ale / Bar & Pub

    Property Details for 1624 Lemay Ave

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.49 lot acres
    Property size
    12,144 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    87192-26-003
    APU
    8719226003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $735,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $868,000
      Market price range: $396k - $869k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $595,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,255,000
      Change: +111% Conversion: Difficult
      RETAIL STORES
      $1,230,000
      Change: +107% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Collins
    County
    Larimer
    State
    Colorado
    Longitude
    -105.057
    Latitude
    40.5658
    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
    $121,498
    $162,490
    $1,176,710
    $1,339,200
    -
    $582,400
    $4,217,600
    $4,800,000

    Comparable in this City

    • Value Estimation
      $630,000
      7,501 SF

      3657 College Ave

      SHOPPING CENTER, STRIP CENTER • 7,501 SF
      3657 College Ave, Fort Collins, CO 80525-3009
      View Details
    • Value Estimation
      $6,000,000
      12,000 SF

      1635 College Ave

      SHOPPING CENTER, STRIP CENTER • 12,000 SF
      1635 College Ave, Fort Collins, CO 80525-1006
      View Details
    • Value Estimation
      $575,000
      15,385 SF

      4025 Mason St

      SHOPPING CENTER, STRIP CENTER • 15,385 SF
      4025 Mason St, Fort Collins, CO 80525-5953
      View Details
    • Value Estimation by Request
      4,542 SF

      2638 Timberline Rd

      SHOPPING CENTER, STRIP CENTER • 4,542 SF
      2638 Timberline Rd, Fort Collins, CO 80525-2401
      View Details
    • Value Estimation by Request
      5,238 SF

      2020 College Ave

      SHOPPING CENTER, STRIP CENTER • 5,238 SF
      2020 College Ave, Fort Collins, CO 80525-1464
      View Details
    • Value Estimation
      $800,000
      12,544 SF

      4020 College Ave

      SHOPPING CENTER, STRIP CENTER • 12,544 SF
      4020 College Ave, Fort Collins, CO 80525-3064
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,008 SF

      Fort Collins Shopping Center For Sale

      Prime Retail Space, 8,008 SF, Ideal Location
      2108 Midpoint Dr, Fort Collins, CO 80525
      View Details
    • $9,900,000

      Fully Leased Retail Property

      Fully leased retail property with development potential in Fort Collins.
      3500 John F. Kennedy Pkwy, Fort Collins, CO 80525
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      Fully Leased NNN Property

      Fully leased NNN property with development potential in Fort Collins.
      John F. Kennedy Pkwy, Fort Collins, CO 80525
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    • $3,500,000
      1.00 Acre

      Harmony Road Commercial Development

      Prime Fort Collins multifamily & commercial site.
      201 Harmony Rd, Fort Collins, CO 80525
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      10,514 SF

      Fort Collins Daycare Center Investment

      Thriving Daycare, Lease or Sale
      6203 Lemay Ave, Fort Collins, CO 80525
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      6,080 SF

      Commercial Building with Leased Lower

      6,080 SF commercial building with income-producing leased lower level.
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    Similar Nearby for Lease

    • Contact for pricing
      2,880 SF

      Retail Space in Arbor Plaza

      High-traffic retail or office space in Fort Collins.
      4637 S Mason St, Fort Collins, CO 80525
      View Details
    • $16 SF/Yr
      2,101 SF

      Retail Space in Arbor Plaza

      Retail or office space in high-traffic Fort Collins location.
      4631 S Mason St, Fort Collins, CO 80525
      View Details
    • $16 SF/Yr
      95,815 SF

      Midtown Commons: Fort Collins Office Space

      Prime Fort Collins office & retail space available. Multiple tenants, high visibility location.
      2721 College Ave, Fort Collins, CO 80525
      View Details
    • $19 SF/Yr
      31,000 SF

      Harmony Marketplace Retail Center

      Fort Collins Safeway-anchored retail space.
      1414-1538 Harmony Rd, Fort Collins, CO 80525
      View Details
    • Contact for pricing
      1,602 SF

      Retail Space in Harmony Marketplace

      Retail space available in Fort Collins' dominant community center.
      150 E Harmony Rd, Fort Collins, CO 80525
      View Details
    • $1,801,800
      8,008 SF

      Retail Center Near Downtown

      Neighborhood retail center available for sale or lease.
      2108 Midpoint Dr, Fort Collins, CO 80525
      View Details
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    1624 Lemay Ave
    Fort Collins, CO 80525-1188
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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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