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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    702 Drake Rd, Unit A Fort Collins, CO 80526-5556

    • Medical offices
    • 17,169 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $2,645,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0956273
    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

    • US Veterans Center/ VetCenter / Veterans Hospital / Veterans Center
    • AXA Advisors / Insurance Agency
    • Wells & Abrames Family Dental: Wells Gordan W DDS / Dentist
    • Eyecare Associates / Contact Lenses Supplier / Eye Care Center
    • Metabolic Research Center | Fort Collins / Weight Loss Service / Medical Spa

    Property Details for 702 Drake Rd

    Year built
    1998
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.24 lot acres
    Property size
    17,169 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    97233-59-001
    APU
    9723359001

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,980,000
      6.5%
      $3,675,000
      7%
      $3,410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,974,000
      Market price range: $1.62M - $3.76M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Collins
    County
    Larimer
    State
    Colorado
    Longitude
    -105.089
    Latitude
    40.5531
    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
    $73,357
    $118,770
    $693,120
    $811,890
    -
    $425,700
    $2,484,300
    $2,910,000

    Comparable in this City

    • Value Estimation by Request
      1,931 SF

      702 Drake Rd

      MEDICAL BUILDING • 1,931 SF
      702 Drake Rd, Fort Collins, CO 80526-5556
      View Details
    • Value Estimation by Request
      1,650 SF

      2001 Shields St, Unit B

      MEDICAL BUILDING • 1,650 SF
      2001 Shields St, Fort Collins, CO 80526-1827
      View Details
    • Value Estimation
      $705,000
      1,772 SF

      1721 Harmony Rd, Unit 102

      MEDICAL BUILDING • 1,772 SF
      1721 Harmony Rd, Fort Collins, CO 80526-7611
      View Details
    • Value Estimation by Request
      1,816 SF

      2001 Shields St Ste J3

      MEDICAL BUILDING • 1,816 SF
      2001 Shields St Ste J3, Fort Collins, CO 80526-1837
      View Details
    • Value Estimation
      $795,000
      4,383 SF

      2001 Shields St, Unit B

      MEDICAL BUILDING • 4,383 SF
      2001 Shields St, Fort Collins, CO 80526-1827
      View Details
    • Value Estimation
      $745,000
      4,686 SF

      2001 Shields St, Unit I

      MEDICAL BUILDING • 4,686 SF
      2001 Shields St, Fort Collins, CO 80526-1827
      View Details

    Similar Nearby for Sale

    • $675,000
      3,397 SF

      Fort Collins Medical Office Condo

      Prime Medical/Dental Office, Owner/User
      383 Drake Rd, Fort Collins, CO 80526
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    • $1,075,000

      Fort Collins Office Space Available

      Office space near Colorado State University with lease extension.
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    • $2,640,000
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      Fort Collins Office Building

      Office building for sale in Fort Collins, Colorado.
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      View Details
    • 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
      0.03 Acres

      Move-in Ready Office Suite

      First-floor office suite in Spring Creek Business Park.
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      View Details
    • $299,000

      Charming Townhome in Fort Collins

      Move-in ready townhome with updated features and outdoor access.
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    Similar Nearby for Lease

    • $15 SF/Yr
      2,328 SF

      Poudre Valley Plaza Office Suites

      Move-in ready suites, prime location.
      1015 Horsetooth Rd, Fort Collins, CO 80526
      View Details
    • $15 SF/Yr
      7,304 SF

      Poudre Valley Plaza Office Suites

      Fort Collins Office Space Available
      1075 Horsetooth Rd, Fort Collins, CO 80526
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    • $168 SF/Yr
      2,021 SF

      Fort Collins Office Space for Lease

      2,021 SF Office, Prime Location, Available May 1, 2025
      323 Drake Rd, Fort Collins, CO 80526
      View Details
    • $12 SF/Yr
      25,344 SF

      Fort Collins Dental Office Condo

      Finished dental office condo in mid-town Fort Collins for rent.
      383 W Drake Rd, Fort Collins, CO 80526
      View Details
    • $18 SF/Yr
      16,032 SF

      Drake Road Office Space Available

      Prime Market Centre location, 1,201 sq ft.
      902 Drake Rd, Fort Collins, CO 80526
      View Details
    • $15 SF/Yr

      Professional Office Suites For Lease

      Office suites available along Horsetooth Corridor in Fort Collins.
      1015 211, Fort Collins, CO 80526
      View Details
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    702 Drake Rd, Unit A
    Fort Collins, CO 80526-5556
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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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