1918 Lemay Ave Fort Collins, CO 80525-1294
Office buildings
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Entity Owned
Absentee Owner
~
Est. High Equity
For Sale
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1918 Lemay Ave, Fort Collins, CO 80525-1294
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Estimated value (blended)
$360k
Range $324k – $396k (±10%)
Property ID
US13-0639222
Property summary
AI-generated overview
This exceptional retail property, located at 1918 S Lemay Ave in Fort Collins, Colorado, presents a compelling investment opportunity. The 4,992 square foot building, constructed in 1980, sits on a 0.62-acre lot and is currently home to seven tenants. The building features 3,358 square feet on the main and upper levels, complemented by a 1,634 square foot basement, offering versatile space for a variety of retail uses. The asking price is $800,000, translating to $160 per square foot. The property is part of a two-building campus, with the option to purchase the adjacent building as well. The campus-like setting includes attractive outdoor patio space. This property is zoned for low-density residential use (RL) in Larimer County, zip code 80524. The property's location in Fort Collins offers excellent access to a thriving community and strong retail market. This is a rare opportunity to acquire a well-occupied retail building with significant potential for growth and return on investment.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
WOOD FRAME
Total area
3,358 SF
Lot
0.31 ac (13,504 SF)
APN
87192-20-040
UPID
US13-0639222
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gym & Fitness Center Alternative Medicine Practice
-
Alternative Medicine Practice Spa & Massage Center
-
Spa & Massage Center Skin Care Clinic
-
Physician
-
Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$775k
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$360k
Owner & transaction history
since 2026
Last sale
$1.0M
6 recorded transactions
Zoning & alternative use
Top alternative use upside
Medical building
$1.1M
+24.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 6 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$360k
Value range
$324k – $396k
±10% around blend
Estimated value / SF
$107 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$324k
blend $360k
$396k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,358 SF
Lot area
0.31 ac
Year built
1980
Stories
2
APN
87192-20-040
Assessed value
$248,282
Annual tax
$21,903
3
Income approach: direct capitalization
Partial preview
Income approach indication
$775k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$840k
@ 6.5% CAP return
$775k
@ 7% CAP return
$720k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$21,903
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.24M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.2 mi away · 3,502 SF
3.4 mi away · 3,520 SF
3.5 mi away · 2,398 SF
9.8 mi away · 2,789 SF
9.8 mi away · 3,819 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$360k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 76 sales
$269
-60%
Submarket 174 sales
$247
-57%
County 257 sales
$233
-54%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $107/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+25%
vs current-use indication
Office Building · current use
Retail Stores
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
13.57%
Selected cap rate for this office buildings
Derived from the Fort Collins market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$139k *
Last sale · Feb 2026
$1.00M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.03M
Move the market yield to see immediate price impact.
Value / SF
$306
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
13.07%13.57%14.07%
$125k
$959k
$923k
$891k
$139k
$1.07M
$1.03M
$989k
$153k
$1.17M
$1.13M
$1.09M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$1.35M
0.8 mi · Nov 2025 · $489/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$21,903
Tax year 2023
Assessed value
$248,282
Assessed 2023
Previous assessed
$205,929
+20.6% YoY
Effective rate
8.82%
On assessed value
Assessed land
$33,703
Assessed improvement
$214,579
Land market value
$120,800
Improvement market value
$769,100
Total market value
$889,900
Applied tax rate
1,100.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1980
Construction
WOOD FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Total area
3,358 SF
Lot
0.31 ac (13,504 SF)
APN
87192-20-040
UPID
US13-0639222
Jurisdiction
LARIMER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.31 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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