2815 Iowa Dr Fort Collins, CO 80525-4798
- Day care centers
- 9,882 SF
- 1.31 lot acres
Aug 27, 2024
Current Use by Public Records
- Bright Horizons at East Fort Collins / Day Care Center / After School Program
Property Details for 2815 Iowa Dr
- Year built
- 2004
- Construction
- WOOD FRAME
- Lot size
- 1.31 lot acres
- Property size
- 9,882 SF
- Property type
- Day care centers
- APN
- 87292-11-011
- APU
- 8729211011
Description
This exceptional investment opportunity presents a meticulously maintained, 11,466-square-foot daycare center located at 2815 Iowa Drive, Fort Collins, Colorado 80525. Built in 2004, this single-tenant property is currently leased to Bright Horizons under an absolute NNN lease, providing a secure and passive income stream. The lease has a remaining term of 5.6 years, extending to June 30, 2030, with three 5-year renewal options. The property boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $180,960 annually, representing a 6.35% cap rate. The asking price is $2,850,000, translating to $248.56 per square foot. Situated on a 1.3-acre lot, the property is zoned MMN and features a large dedicated parking area. Recent improvements include HVAC system replacement in 2022. This offering presents a compelling investment opportunity due to its strong tenant, long-term lease, and below-replacement-cost pricing, making it an attractive prospect for investors seeking stable returns and long-term growth. The property's prime location near the intersection of Timberline and Drake Roads further enhances its appeal.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Collins
- County
- Larimer
- State
- Colorado
- Longitude
- -105.036
- Latitude
- 40.5493
- CBSA code
- 22660
- CBSA name
- FORT COLLINS-LOVELAND, CO METROPOLITAN STATISTICAL AREA
