2815 Iowa DrFort Collins, CO 80525

Property Details for 2815 Iowa Dr

Year built

2004

Construction

WOOD FRAME

Lot size

1.31 AC

Property size (Sq ft)

9,882 SF

Property type

Specialty properties

Property subtype

Day care centers & nurseries

APN

87292-11-011

APU

8729211011

Description

This exceptional investment opportunity presents a meticulously maintained, 11,466-square-foot daycare center located at 2815 Iowa Drive, Fort Collins, Colorado 80525. Built in 2004, this single-tenant property is currently leased to Bright Horizons under an absolute NNN lease, providing a secure and passive income stream. The lease has a remaining term of 5.6 years, extending to June 30, 2030, with three 5-year renewal options. The property boasts a 100% occupancy rate, generating a substantial net operating income (NOI) of $180,960 annually, representing a 6.35% cap rate. The asking price is $2,850,000, translating to $248.56 per square foot. Situated on a 1.3-acre lot, the property is zoned MMN and features a large dedicated parking area. Recent improvements include HVAC system replacement in 2022. This offering presents a compelling investment opportunity due to its strong tenant, long-term lease, and below-replacement-cost pricing, making it an attractive prospect for investors seeking stable returns and long-term growth. The property's prime location near the intersection of Timberline and Drake Roads further enhances its appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $2,307,931

  6.5%

  $2,130,398

  7%

  $1,978,227

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,984,128

  Geo Method

  $938,918

• Alternative Use

  Use

  Valuation

  Residential

  $2,702,500

  Hospitality

  $2,475,475

  Educational

  $2,059,566

  Medical

  $2,130,398

  Retail

  $3,203,770

Location Insight

City

Fort Collins

County

Larimer

State

Colorado

Latitude

40.5493

Longitude

-105.036

CBSA code

22660

CBSA name

FORT COLLINS-LOVELAND, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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