Fountainhead Retail Center listed at $4.3M ($170/SF), attracts multiple offers and goes under contract quickly

  • Key tenants include Comfort Dental & Tres Margaritas
  • Listed by Debbie Tamlin of Integrated Real Estate Group
  • First major retail center in Fort Collins to hit the market post-COVID
  • Email Greg Roeder for more details: groeder@waypointRE.com

Comfort Dental has occupied this prominent end cap at the Fountainhead Retail Center since September of 2013
1224 W. 24th Street in Greeley Sells for $875,000 ($145,833 per unit)
6-unit Multi-Family property sells off-market for a CAP rate of 7.60%
Unit mix as follows :
101: 3 bd, 1 ba, includes garage - $1,375 /mo.
102: 1 bd, 1 ba includes garage - $800 / mo.
103: 3 bd, 1 ba includes garage - $1,350 / mo.
201: 3 bd, 1 ba includes garage - $1,350 / mo.
202: 2 bd, 1 ba - $915 / mo.
203: 3 bd, 1 ba - $1,350 / mo.
Total: $7,140 / mo.  

For more details contact David Katz at dkatz@waypointre.com
Off-Market opportunity: Short Term Rental property with grandfathered STR License and strong rental history
1949 Newcastle Court offered at $419,000 including furniture
Revenue History:
  • 2020 through June = $13,623 - this has been with some discounted longer term stays over April & May. July & August are near 100% occupancy.
  • 2019 = $40,205 (the current owner's first full year)
  • 2018 = $19,954 (Earned from Aug 13th - Dec 31st, current owners closed Aug 13th)
  • 2017 = $43,388 (previous owner's 3rd year)
  • 2016 = $50,445 (previous owner's 2nd year)
  • 2015 = $40,559 (previous owner's 1st year)
How are STRs performing currently?

  • According to Mark Driskell, owner of Mountain Time Vacation Rentals, occupancy rates are currently at 95%
  • After a slow March & April, the Fort Collins marketed has rebounded to pre-COVID occupancy rates with revenues down slightly compared to 2019,
  • Email Greg Roeder for more details: groeder@waypointRE.com

Five NOCO Contractors that will help your Investment Property Thrive - recommended by Waypoint Co-Founder and Partner, Greg Roeder
1) Carlas Sunshine Flooring . They have a stock LVT flooring that is my go-to product for rental properties. I recommend LVT flooring throughout, however they do have great carpet options for rentals.  What makes them stand out to me:
  • I can call their sales guy right now and he will be out today or tomorrow to take measurements, and the install can be done in 4-5 day from now. Incredibly quick turnaround.
  • Pricing is as competitive as any I have found, and the installers are the best.

2) Vicki Rohrick - Painting contractor. $35 / hr and she works fast. Interior and Exterior.

3) Larry Wright - Right Way Construction . It is rare to find someone experienced in carpentry, plumbing, and electric. Larry is exceptional in all three categories. $65 / hr. 

4) Mike Monnier, Hard Tops, LLC . This is a company that provides new finish coatings to bathtubs, showers and countertops - GREAT for rental properties. If you have a discolored bathtub they will make it look like new with an extremely durable finish. Dated laminate counters? They can provide a finish that makes them look brand new, for a fraction of the cost.

5) Kevin Obendorf, Acquascape s - Landscaping. This company has helped me come up with low cost landscaping plans that make a big difference and are easy to maintain.  

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Questions, Comments, or Feedback? Contact Greg Roeder at groeder@waypointRE.com
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