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313 W Drake Rd 12,209 SF 50% Leased Office Building Fort Collins, CO 80526 $3,792,965 CAD ($310.67 CAD/SF)
Investment Highlights
- Full Medical Buildout
- Ample on-site parking
- Multi-tenant building
Executive Summary
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.
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.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
12,209 SF
Building Class
B
Year Built/Renovated
1974/2014
Price
$3,792,965 CAD
Price Per SF
$310.67 CAD
Percent Leased
50%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,105 SF
Building FAR
0.19
Lot Size
1.50 AC
Zoning
E
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 1,543-3,707 SF | Office/Medical | Full Build-Out | Now |
1st Floor
| Size |
| 1,543-3,707 SF |
| Space Use |
| Office/Medical |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
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1st Floor
| Size | 1,543-3,707 SF |
| Space Use | Office/Medical |
| Build-Out | Full Build-Out |
| Available | Now |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 97261-28-001 | Improvements Assessment | $815,513 CAD |
| Land Assessment | $50,147 CAD | Total Assessment | $865,659 CAD |
Property Taxes
Parcel Number
97261-28-001
Land Assessment
$50,147 CAD
Improvements Assessment
$815,513 CAD
Total Assessment
$865,659 CAD
1 of 60
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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313 W Drake Rd
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