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    Property profile & analytics

    2907 Somerville Dr Fort Collins, CO 80526-6949

    • Residential income homes
    • 3,148 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Jun 18, 2020
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0360040
    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

    • Residential income homes

    Property Details for 2907 Somerville Dr

    Year built
    1972
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property size
    3,148 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    97212-24-051
    APU
    9721224051

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $700,000
      6.5%
      $650,000
      7%
      $600,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $434,000
      Market price range: $230k - $561k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $995,000
      Current use
      RETAIL STORES
      $915,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Collins
    County
    Larimer
    State
    Colorado
    Longitude
    -105.131
    Latitude
    40.5622
    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
    $4,679
    $13,400
    $41,540
    $54,940
    -
    $200,000
    $620,000
    $820,000

    Comparable in this City

    • Value Estimation by Request
      810 SF

      2601 Davidson Dr, Unit B3

      APARTMENT HOUSE (UNDER 5 UNITS) • 810 SF
      2601 Davidson Dr, Fort Collins, CO 80526-5542
      View Details
    • Value Estimation
      $670,000
      3,460 SF

      1030 Davidson Dr, Unit J

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,460 SF
      1030 Davidson Dr, Fort Collins, CO 80526-2688
      View Details
    • Value Estimation
      $1,405,000
      3,240 SF

      1746 Azalea Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,240 SF
      1746 Azalea Dr, Fort Collins, CO 80526-5736
      View Details
    • Value Estimation
      $905,000
      3,168 SF

      3024 Sumac St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,168 SF
      3024 Sumac St, Fort Collins, CO 80526-5766
      View Details
    • Value Estimation
      $935,000
      3,168 SF

      3041 Sumac St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,168 SF
      3041 Sumac St, Fort Collins, CO 80526-5756
      View Details
    • Value Estimation
      $1,085,000
      3,978 SF

      1713 Palm Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,978 SF
      1713 Palm Dr, Fort Collins, CO 80526-5782
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.50 Acres

      Horsetooth Road Commercial Land

      Prime Fort Collins land, build-to-suit options.
      0 Horsetooth Rd, Fort Collins, CO 80526
      View Details
    • $300,000

      Vacant Land in Larimer County

      4.39 acre vacant lot near Fort Collins city limit.
      7321 S Shields St, Fort Collins, CO 80526
      View Details
    • $1,100,000
      15.32 Acres

      Foothills Land with Open Views

      15+ acre lot near Horsetooth Reservoir with utility access.
      2935 Living Springs Ln, Fort Collins, CO 80526
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    • $140,000
      0.41 Acres

      Land with Reservoir Views

      Vacant 0.4-acre lot with views of Horsetooth Reservoir.
      4217 Edith Dr, Fort Collins, CO 80526
      View Details
    • $829,900

      Horsetooth Reservoir Commercial Land Opportunity

      Commercial land near Horsetooth Reservoir, Fort Collins. CD zoning.
      4025 W County Road 38 E, Fort Collins, CO 80526
      View Details
    • $300,000
      4.39 Acres

      Vacant Land Near Fort Collins

      4.39 acre vacant lot, easily accessible for creative development.
      7321 S Shields St, Fort Collins, CO 80526
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Office Suite in Fort Collins

      Retail/office suite in high-traffic shopping center for rent.
      2519 S Shields St, Fort Collins, CO 80526
      View Details
    • $25 SF/Yr
      24,000 SF

      Fort Collins Industrial Space

      New 24,000 SF flex space, for sale or lease.
      0 Sec I-25 & Prospect Rd, Fort Collins, CO 80526
      View Details
    • Contact for pricing
      1,416 SF

      Retail/Office Suite For Rent

      Retail/office suite in Raintree Village Shopping Center available now.
      2531 S Shields St, Fort Collins, CO 80526
      View Details
    • Contact for pricing

      Land For Sale

      Commercial land available with high traffic counts and visibility.
      2049 East Prospect Rd, Fort Collins, CO 80526
      View Details
    • Contact for pricing
      3,041 SF

      Fort Collins Office Space Available

      Office space for rent near CSU Campus in Fort Collins.
      2301 Research Blvd, Fort Collins, CO 80526
      View Details
    • $16 SF/Yr
      13,488 SF

      Drake Road Office Space For Lease

      Fort Collins Office Building, High Traffic Area
      2170 Drake Rd, Fort Collins, CO 80526
      View Details
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    Fort Collins, CO 80526-6949
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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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