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    101 Gregory Street Central City, CO 80427

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    For Sale
    $5,800,000

    Newly constructed 18-unit apartment building in downtown Central City.

    Type:Commercial
    Property size:
    13,454 SF
    Added:
    Oct 25, 2025
    Days on Market:
    159
    Last Refresh:
    Mar 26 at 1:03 am

    Property Features for 101 Gregory Street

    General Information

    Standard status
    Active
    Size
    13,454 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2025

    We can help!

    Listing Contact
    NIK MACCARTER

    Listing agent NIK MACCARTER

    Listing office MODUS REAL ESTATE

    Listing date Oct 25, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of MODUS REAL ESTATE

    Overview

    New Apartments in Central City

    Located in downtown Central City, Colorado, this newly constructed apartment building was completed in 2025. Built on top of the old Knights Pythias building, the property features 18 unique apartments that blend modern luxuries with old-world charm. All units have new finishes, washer and dryers, elevator access, outdoor decks, some historic windows, and views of downtown Central City and the mountains. Free covered parking is available across the street, owned by the city. The building will be managed by Gallup Construction for a 5% fee. The whole building is covered under a 1-year warranty. One of the units is leased to a maintenance person who will work on maintenance requests by the tenants and will receive a $250 a month break in rent. The building is designed for efficient and cost-effective operation, with virtually no common area, no parking on-site, and minimal sidewalks for snow removal. The property size is 13454 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Central City
    County
    Gilpin
    State
    Colorado
    Longitude
    -105.512
    Latitude
    39.8

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    FAQs

    What type of property is this?
    Apartment building - Newly constructed 18-unit apartment building in downtown Central City.
    Where is this apartment building located?
    The property is located at 101 Gregory Street Central City, CO.
    What is the asking price?
    The asking price for this property is $5,800,000.
    What are key features of this property?
    This property features: Newly Constructed (2025) 18‑Unit Apartment Building in Downtown Central City; Modern Luxuries with Historic Charm: New Finishes, Historic Windows, and Mountain Views; Enjoy the convenience of In‑Unit Washer/Dryers and Outdoor Decks
    (303) 974-4717
    We can help!
    Listing Contact
    NIK MACCARTER
    Learn More
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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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