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    Property profile & analytics

    940 Lemay Ave Fort Collins, CO 80524-3207

    • Grocery and convenience stores
    • 1,322 SF
    • 0.55 lot acres
    OFF-MARKET
    Last Sale
    Jan 04, 2021
    $1,000,000
    Value Estimations
    $1,010,000
    Show details
    Cap Rate Potential
    2.3%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US13-0703646
    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

    • Loaf N Jug / Gas Station
    • ATM (Schrader's Country Store) / Atm
    • ATM / Atm
    • Signal Car Wash at Loaf n Jug / Car Wash

    Property Details for 940 Lemay Ave

    Year built
    1968
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.55 lot acres
    Property size
    1,322 SF
    Property type
    Grocery and convenience stores
    APN
    87182-00-064
    APU
    8718200064

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $990,000
      ML approach
      $1,040,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,215,000
      Market price range: $511k - $1.29M
      AI Estimate
      $627,000
      Market price range: $178k - $810k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Collins
    County
    Larimer
    State
    Colorado
    Longitude
    -105.057
    Latitude
    40.5745
    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
    $22,160
    $73,656
    $177,444
    $251,100
    -
    $264,000
    $636,000
    $900,000

    Comparable in this City

    • Value Estimation
      $5,445,000
      42,699 SF

      731 Lemay Ave

      GROCERY, SUPERMARKET • 42,699 SF
      731 Lemay Ave, Fort Collins, CO 80524-3251
      View Details
    • Value Estimation
      $925,000
      3,200 SF

      1660 College Ave

      CONVENIENCE STORE • 3,200 SF
      1660 College Ave, Fort Collins, CO 80524-1219
      View Details
    • Value Estimation
      $560,000
      2,400 SF

      1311 College Ave

      CONVENIENCE STORE • 2,400 SF
      1311 College Ave, Fort Collins, CO 80524-1213
      View Details
    • Value Estimation
      $1,010,000
      2,806 SF

      1037 Conifer St

      CONVENIENCE STORE • 2,806 SF
      1037 Conifer St, Fort Collins, CO 80524-2159
      View Details
    • Value Estimation
      $4,015,000
      4,163 SF

      601 Greenfield Ct

      CONVENIENCE STORE • 4,163 SF
      601 Greenfield Ct, Fort Collins, CO 80524-8406
      View Details
    • Value Estimation
      $1,205,000
      1,316 SF

      429 Mason St

      CONVENIENCE STORE • 1,316 SF
      429 Mason St, Fort Collins, CO 80524-2908
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,019 SF

      College Avenue Retail Buildings For Sale

      Two retail buildings on 0.38 acres with high traffic.
      425-429 N College Ave, Fort Collins, CO 80524
      View Details
    • $775,000
      7,050 SF

      Mixed-Use Buildings on College Avenue

      Mixed-use buildings on 0.41 acres with high traffic frontage.
      1307 North College Ave, Fort Collins, CO 80524
      View Details
    • $886,500
      1,500 SF

      Prime Old Town Fort Collins Retail

      Four Units, Redevelopment Opportunity, High Traffic Area
      343 College Ave, Fort Collins, CO 80524
      View Details
    • $931,500
      0.46 Acres

      Fort Collins Mixed-Use Pad Sites

      14 Residential Lots, Mixed-Use Zoning
      208 Green Leaf St, Fort Collins, CO 80524
      View Details
    • $349,999
      2,500 SF

      Fort Collins Retail Opportunity

      Retail property near King Soopers with drive-thru potential.
      1603-1605 N College Ave, Fort Collins, CO 80524
      View Details
    • $1,450,000

      Fort Collins Drive-Thru Opportunity

      Freestanding 3,933 SF building with drive-thru on 0.91 acres.
      1298 N College Ave, Fort Collins, CO 80524
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,595 SF

      Former Restaurant Space on College

      4,595 SF former restaurant space available for rent.
      4306 S College Ave, Fort Collins, CO 80524
      View Details
    • $15 SF/Yr

      Mason Street Retail/Office Space

      710 SF retail or office space with street exposure.
      208 S Mason St, Fort Collins, CO 80524
      View Details
    • $15 SF/Yr
      3,791 SF

      Historic Retail Space For Rent

      Retail space in historic building near amenities and parking.
      160 W Mountain Ave, Fort Collins, CO 80524
      View Details
    • Contact for pricing
      2,883 SF

      Retail Space in Fort Collins

      Retail space available in a King Soopers anchored shopping center.
      1856 N College Ave, Fort Collins, CO 80524
      View Details
    • $14 SF/Yr
      4,400 SF

      Retail Space Near CSU Campus

      Turn-key retail space with high street frontage near CSU.
      130 W Laurel St, Fort Collins, CO 80524
      View Details
    • $16 SF/Yr
      1,471 SF

      Retail Space Near King Soopers

      Highly visible retail space adjacent to King Soopers Marketplace.
      1612 N College Ave, Fort Collins, CO 80524
      View Details
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    940 Lemay Ave
    Fort Collins, CO 80524-3207
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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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