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902 W Drake Rd, Fort Collins, CO 80526
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Property summary
AI-generated overview
The property at 902 West Drake Road is an office space located in the Market Centre near the intersection of Drake Road and Shields Street. It comprises approximately 1,395 square feet. The site is positioned along Drake Road near the cited intersection of Drake Road and Shields Street, which is associated with an estimated 54,414 vehicles per day. The surrounding Market Centre includes commercial and service businesses such as Starbucks, Columbine Health, Anytime Fitness, and The Drake Centre event venue.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,032 SF
Lot
0.86 ac (37,462 SF)
APN
97233-59-016
UPID
US13-0859690
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store
-
Construction Company General Contractor
-
Restaurant
-
Grocery & Convenience Store Food Market
-
Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.50M
CAP Approach
CAP
$4.24M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.33M
Owner & transaction history
since 2022
Last sale
$3.4M
5 recorded transactions
Zoning & alternative use
Top alternative use upside
Commercial (general)
$2.7M
+213.1%
Restaurant
$2.6M
+202.3%
Office building
$2.5M
+193.3%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.33M
Value range
$2.99M – $3.66M
±10% around blend
Estimated value / SF
$207 / SF
Confidence
Property data
88
Comparable evidence
60
Income certainty
100
$2.99M
blend $3.33M
$3.66M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
16,032 SF
Lot area
0.86 ac
Year built
1999
Stories
1
APN
97233-59-016
Assessed value
$963,890
Annual tax
$87,234
3
Income approach: direct capitalization
Partial preview
Income approach indication
$4.24M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$4.60M
@ 6.5% CAP return
$4.24M
@ 7% CAP return
$3.94M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$87,234
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.33M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+213%
vs current-use indication
Restaurant
Office Building
Medical Building
Industrial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
8.30%
Selected cap rate for this strip malls
Derived from the Fort Collins market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.30%
9.0%
NOI (est.)
$18k *
Last sale · Jan 2022
$3.40M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$218k
Move the market yield to see immediate price impact.
Value / SF
$14
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.80%8.30%8.80%
$16k
$209k
$196k
$185k
$18k
$232k
$218k
$206k
$20k
$255k
$240k
$226k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$87,234
Tax year 2023
Assessed value
$963,890
Assessed 2023
Previous assessed
$667,000
+44.5% YoY
Effective rate
9.05%
On assessed value
Assessed land
$104,737
Assessed improvement
$859,153
Land market value
$375,400
Improvement market value
$3,079,400
Total market value
$3,454,800
Applied tax rate
1,100.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Total area
16,032 SF
Lot
0.86 ac (37,462 SF)
APN
97233-59-016
UPID
US13-0859690
Jurisdiction
LARIMER
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
0.86 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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