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Property profile & analytics
OFF-MARKET
Estimated value
$5,245,000
Outlet malls
737 Lemay Ave Fort Collins, CO 80524-3259
Entity Owned
3-yr Hold
Free & Clear
Property ID
US13-1198431
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
24,910 SF
Lot
2.36 ac (102,802 SF)
APN
97131-28-006
UPID
US13-1198431
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
-
Papa Murphy's | Take 'N' Bake Pizza Restaurant
-
Colorado Appraisal Services LLC Real Estate Agency
-
Camelot Cleaners (Bike/Boat/Book/etc) Store
-
UPS Access Point location Courier Service Postal Service
-
vNacelle LLC Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.78M
Comparable Approach
Comparable
$4.11M
Blend (final)
Blend
$5.25M
Owner & transaction history
Walgreen Co · 3 yrs held
Walgreen Co
since 2022
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.5M
+2.6%
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%
$6,260,000
6.5%
$5,780,000
7%
$5,365,000
Alternative Use
Use
Estimation
RETAIL STORES
$8,275,000
Current use
MEDICAL BUILDING
$8,490,000
Change: +3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,225,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$7,875,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$5.25M
Range $4.72M – $5.77M · ±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
$211 / 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
$162,252
Tax year 2023
Assessed value
$1,785,600
Assessed 2023
Previous assessed
$1,785,600
+0.0% YoY
Effective rate
9.09%
On assessed value
Assessed land
$429,883
Assessed improvement
$1,355,717
Land market value
$1,540,800
Improvement market value
$4,859,200
Total market value
$6,400,000
Applied tax rate
1,100.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Total area
24,910 SF
Lot
2.36 ac (102,802 SF)
APN
97131-28-006
UPID
US13-1198431
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
RETAIL STORES Current
Est. value
$8.3M
MEDICAL BUILDING
Est. value
$8.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.2M
OFFICE BUILDING
Est. value
$7.9M
RETAIL STORES Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.36 ac
Current owner
From public records · entity-resolved
Walgreen Co
Entity
Free & Clear · 3 yrs held
Mailing address
450 S ORANGE AVE STE #900, ORLANDO, FL 32801-3339
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2022
—
Walgreen Co
National Retail Properties LP
Lease
—
Nov 28, 2022
$6,165,500
National Retail Propertie LP
Waltrust Properties INC
Special Warranty Deed
—
Jun 18, 2007
$3,455,375
Walgreen Co
Longs Drug Stores California I
Grant Deed
—
Jun 18, 2007
—
Waltrust Properties INC
Walgreen
Grant Deed
related
—
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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