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Property profile & analytics
OFF-MARKET
Estimated value
$2,320,000
Distribution centers
208 Commerce Dr Fort Collins, CO 80524-3176
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US13-2383313
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,880 SF
Lot
1 ac (43,560 SF)
APN
87074-05-058
UPID
US13-2383313
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
-
Tundra Fitness Gym & Fitness Center
-
Higher Ground Rehearsal Studios Recording Studio
-
The Creative Agency Marketing & Advertising Advertising Agency
-
Fort Collins Heating & Air Conditioning HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.80M
Comparable Approach
Comparable
$2.44M
Blend (final)
Blend
$2.32M
Owner & transaction history
Millenium Acquisitions LLC · 8 yrs held
Millenium Acquisitions LLC
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.6M
+33.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,030,000
6.5%
$2,795,000
7%
$2,595,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,730,000
Current use
AUTO REPAIR, GARAGE
$3,630,000
Change: +33% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,420,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$2.32M
Range $2.09M – $2.55M · ±10%
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
$156 / 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
$53,398
Tax year 2023
Assessed value
$585,370
Assessed 2023
Previous assessed
$585,370
+0.0% YoY
Effective rate
9.12%
On assessed value
Assessed land
$72,931
Assessed improvement
$512,439
Land market value
$261,400
Improvement market value
$1,836,700
Total market value
$2,098,100
Applied tax rate
10,027.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Total area
14,880 SF
Lot
1 ac (43,560 SF)
APN
87074-05-058
UPID
US13-2383313
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
WAREHOUSE, STORAGE Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$2.4M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
Millenium Acquisitions LLC
Entity
Mailing address
2626 CANBY WAY, FORT COLLINS, CO 80525-6674
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2019
—
Millenium Acquisitions LLC
—
Deed
related
$100,000 · Great Wstrn Bk
Nov 6, 2017
$405,000
Millenium Acquisitions LLC
K Four LLC
Warranty Deed
$1,262,250 · Great Western Bank
Apr 1, 2016
—
Millenium Acquisitions LLC
Ironball LLC
Quit Claim Deed
related
—
Feb 24, 2016
—
Millenium Acquisitions LLC
Ironball LLC
Warranty Deed
related
—
Jul 24, 2013
$327,400
Millenium Acquisitions LLC
K Four LLC
Warranty Deed
related
$672,000 · Great Western Bank
Feb 28, 2011
—
Four Bg LLC
Bernth LLC
Quit Claim Deed
related
—
Jan 3, 2011
—
Four Bg LLC
Damer Commerce Drive LLC
Warranty Deed
related
—
Jan 13, 2010
$18,269
Damer Commerce Dr LLC
Treasurer Of Larimer County
Redemption Deed
—
Apr 21, 2008
—
Bernth LLC
Dinedandave LLC
Quit Claim Deed
related
—
Mar 14, 2005
—
Damer Commerce Drive Lcc
Ironball LLC
Quit Claim Deed
related
—
Jul 20, 2004
—
Eva A Lieser
K-venture Properties LLC
Quit Claim Deed
related
—
Jul 20, 2004
$750,000
Ironball LLC
Lieser,eva A
Grant Deed
$585,000 · First Mainstreet Bank NA
Jan 30, 2003
—
K-ventures Properties LLC
Lieser,eva A
Quit Claim Deed
related
—
—
—
K Four LLC
—
Deed Of Trust
related
$90,000 · Western State Bank
—
—
Millenium Acquisitions LLC
—
Loan Modification
related
$100,000 · Great Wstrn Bk
—
—
Eva A Lieser
—
Deed Of Trust
related
$217,000 · First Choice Bank
—
—
K Four LLC
—
Deed Of Trust
related
$615,000 · Western State Bank
—
—
K Four LLC
—
Deed Of Trust
related
$50,000 · First Mainstreet Bank NA
—
—
Conrad A Kawulock
—
Deed Of Trust
related
$1,250,000 · Norwest Bank Colorado
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.
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