313 W Drake Rd - Medical FOR SALE


Fort Collins, CO 80526
$2,750,000 USD
303-842-1869
313 W Drake Rd, Fort Collins, CO for Sale
$2,750,000 USD
Medical - FOR SALE
1/60
null | Request Cap Rate

313 W Drake Rd
Fort Collins, CO 80526


HIGHLIGHTS

  • Full Medical Buildout
  • Multi-tenant building
  • Ample on-site parking

OVERVIEW

313 W Drake Rd is a 12,209 SF, two-story medical office building offered for sale at $2,750,000, an owner-user, value-add opportunity in the heart of Fort Collins' established midtown corridor, directly adjacent to Colorado State University. The property is prominently located at the signalized corner of West Drake Road and Redwing Road on approximately 1.01 acres, providing strong College Ave visibility, convenient access, and ample on-site parking. The elevator-served building was fully renovated in 2014 and offers a 6.5:1,000 parking ratio, prominent Drake Road frontage, and strong College Avenue visibility. The building is approximately 33% leased today (3,988 SF per the current rent roll), with 4,540 SF available immediately on the main floor in two contiguous blocks (demisable to roughly 2,000 SF suites). This structure creates an immediate owner-user opportunity: a buyer can occupy up to 4,540 SF now while collecting in-place income from the existing tenancy, a mix of dental, physical therapy, foot care, and other medical/professional users, then grow into the full 12,209 SF as remaining leases roll. Alternatively, an investor can lease up the vacant space at current market rents of $20.00 to $25.00 NNN, mark the existing in-place tenants to market as leases turn, and stabilize the asset as a multi-tenant medical office investment. Submarket vacancy is under 7.5% with no new medical supply underway, supporting the lease-up thesis. The flexible medical-office floor plan is well suited to dental, healthcare, behavioral health, veterinary, professional office, or related users, with its central Fort Collins location offering convenient proximity to Colorado State University, Old Town, and surrounding retail and service amenities. Renovated in 2014, the two-story building includes elevator access, approximately 6.5 parking spaces per 1,000 SF, and flexible medical-office configurations suitable for dental, healthcare, behavioral health, veterinary, professional office, or related users. Its central Fort Collins location offers direct Drake Road exposure and convenient proximity to Colorado State University, Old Town, and surrounding retail and service amenities.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$225 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

E

APN/PARCEL ID

97261-28-001

ASK ABOUT THIS PROPERTY

Jack RohrResolute IncMore Info
303-842-1869

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Jack RohrResolute IncMore Info
303-842-1869

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.