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    244 College Ave Fort Collins, CO 80524-3498
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    Property profile & analytics

    244 College Ave Fort Collins, CO 80524-3498

    View on Map
    • Investment properties
    • 25,319 SF
    • 0.60 lot acres
    Off-Market
    Property ID
    US13-2329189
    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.
    Value Estimations
    $6,150,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Norris Design / Landscaping / (Bike/Boat/Book/etc) Store
    • Club Pilates / Gym & Fitness Center
    • Old Town Putt / Golf Course
    • Fort Collins Figure Skating Club / Gym & Fitness Center
    • Theresa Rudel's Fitness Haven / Gym & Fitness Center

    Property Details for 244 College Ave

    Year built
    1901
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.60 lot acres
    Property size
    25,319 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    97122-36-001
    APU
    9712236001

    Description

    This exceptional 3,046 square foot retail or restaurant space is located in the heart of Old Town Fort Collins' vibrant Exchange building at 244 N College Ave, 80524, Larimer County, Colorado. Built in 2017, this single-tenant space boasts a versatile layout perfect for a variety of concepts. Features include a dedicated dining area, a full bar, an event space ideal for private functions, a well-equipped kitchen, private restrooms, and multiple offices. Ample storage is available, including a mezzanine level for added capacity. Enjoy a covered exterior patio, perfect for outdoor dining or events. The property benefits from prominent building signage facing College Avenue, ensuring high visibility. The space includes access to a grease trap, a key feature for food service businesses. Utilities are tenant-responsible (electric and gas). This is a rare opportunity to secure a prime location in one of Fort Collins' most sought-after areas. The property's modern design and convenient amenities make it an ideal space for a thriving business. Don't miss this chance to establish your presence in the bustling Old Town Fort Collins market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,000,000
      6.5%
      $5,540,000
      7%
      $5,145,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,764,000
      Market price range: $714k - $6.76M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,310,000
      OFFICE BUILDING
      $4,045,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Collins
    County
    Larimer
    State
    Colorado
    Longitude
    -105.077
    Latitude
    40.5902
    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
    $189,686
    $548,179
    $1,334,206
    $1,882,385
    -
    $1,964,800
    $4,782,100
    $6,746,900

    Comparable in this City

    • Value Estimation
      $6,055,000
      24,918 SF

      1 Old Town Sq Ste 104b

      STORE/OFFICE (MIXED USE) • 24,918 SF
      1 Old Town Sq Ste 104b, Fort Collins, CO 80524-2464
      View Details
    • Value Estimation
      $1,305,000
      5,377 SF

      200 College Ave, Unit 100

      STORE/OFFICE (MIXED USE) • 5,377 SF
      200 College Ave, Fort Collins, CO 80524-2892
      View Details
    • Value Estimation
      $4,360,000
      22,250 SF

      110 College Ave

      STORE/OFFICE (MIXED USE) • 22,250 SF
      110 College Ave, Fort Collins, CO 80524-2482
      View Details
    • Value Estimation
      $765,000
      3,393 SF

      132 Mtn Ave

      STORE/OFFICE (MIXED USE) • 3,393 SF
      132 Mtn Ave, Fort Collins, CO 80524-2823
      View Details
    • Value Estimation
      $2,125,000
      9,900 SF

      255 Linden St

      STORE/OFFICE (MIXED USE) • 9,900 SF
      255 Linden St, Fort Collins, CO 80524-4435
      View Details
    • Value Estimation
      $2,245,000
      9,232 SF

      19 Old Town Sq

      STORE/OFFICE (MIXED USE) • 9,232 SF
      19 Old Town Sq, Fort Collins, CO 80524-2471
      View Details

    Similar Nearby for Sale

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      Retail/Warehouse Property Near I-25

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      Historic Mixed-Use Building For Sale

      4,200 SF mixed-use building with secure parking.
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      Retail/Warehouse Property Near I-25

      Retail/warehouse with office, fenced lot, and easy highway access.
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      Mixed-use zoned pad sites in high-profile green housing development.
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space for Sublease

      Commercial space available for sublease in Fort Collins, Colorado.
      2246 Zurich Dr, Fort Collins, CO 80524
      View Details
    • $28 SF/Yr
      2,555 SF

      Mixed-Use Space Near CSU Campus

      Mixed-use space in well-appointed building near Colorado State University.
      830 S College Ave, Fort Collins, CO 80524
      View Details
    • $28 SF/Yr

      Mixed-Use Space Near CSU Campus

      Mixed-use space near Colorado State University, formerly coffee shop/taproom.
      830 S College Ave, Fort Collins, CO 80524
      View Details
    • Contact for pricing

      Office/Retail Space with Garage

      1,900 SF office/retail space with garage and yard.
      210 N Us Highway 287 U.S, Fort Collins, CO 80524
      View Details
    • Contact for pricing

      Fort Collins Flex Space Available

      Functional space with secure outdoor storage in Fort Collins.
      3801 Canal Dr, Fort Collins, CO 80524
      View Details
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    Fort Collins, CO 80524-3498
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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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