Duplex with Greenbelt
For Sale
$479,441
32 Meridian Alley, Frisco, CO 80443
Open-plan workforce housing unit with a front porch, garage, and direct access to the Frisco Rec Path.
Property Size1,315 SF
Days on Market1056
Property Features for 32 Meridian Alley
General Information
Standard status
Active
Size
1,315 SF
Total Parking Spaces
2
Property subtype
Duplex
Zoning
Multi-Family
Amenities
front porch
open floor plan
Building Details
Building Size
1,315 SF
Year Built
2011
Stories
2
Listing Agency:
Omni Real Estate
(970) 468-2740
Listed By:
Anne Marie Ohly · License #ER326911
Source:
Steamboatmountainrealestate
Added: Oct 12, 2023
Changed: Aug 31
Last Checked: Aug 2 at 9:55AM
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 Omni Real Estate
Investment Insights
Based on property information with market context.
This 2011 duplex unit in the Peak One Neighborhood provides a three-bedroom, two-bath layout with an open interior plan, front porch, greenbelt setting, and two-car garage. The residence is designated for workforce housing, and applicants must qualify through the Summit County Housing Authority.
The home sits beside the Frisco Rec Path, providing access for biking and hiking. The property also offers convenient access to skiing and riding, Mount Royal, and the Rainbow Lake trailhead. Its combination of residential functionality, outdoor-oriented surroundings, and recreational access defines the offering.
The home sits beside the Frisco Rec Path, providing access for biking and hiking. The property also offers convenient access to skiing and riding, Mount Royal, and the Rainbow Lake trailhead. Its combination of residential functionality, outdoor-oriented surroundings, and recreational access defines the offering.
Key Highlights
- Three‑bedroom, two‑bath duplex unit in the Peak One Neighborhood
- 2011 construction with an open floor plan
- Front porch with views and a greenbelt setting
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,921
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,420
$438.4K
Cap Rate 7%
$313,157
$313.2K
Cap Rate 9%
$243,567
$243.6K
Market Conditions
NOI Build-Up for 1,315 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.1K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$31.3K $23.81/SF
− OpEx
−$9.4K −$7.14/SF
NOI
$21.9K $16.67/SF
Area
Summit County, CO
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,420
Cap Rate 7%
$313,157
Cap Rate 9%
$243,567
Alternative Uses
Best Use
Multifamily LT 5
$313.2K
$274.0K – $365.4K
NOI $21,921 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$289.2K
$253.0K – $337.4K
NOI $20,243 @ 7.0% cap · market cap 4.22%
Theoretical Best
Warehouse
$26.17M
$22.90M – $30.54M
NOI $1,832,144 @ 7.0% cap · market cap 382.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 80443, CO
4,170
Population
5,552
Households
0.8
Avg Household Size
41
Median Age
60%
College-Educated
98%
High-School Grad
102.1 sq mi
ZIP Area
41
Density / Sq Mi
$112,179
Median Household Income
$51,450
Median Earnings
$2,542
Median Rent
$844,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Open-plan workforce housing unit with a front porch, garage, and direct access to the Frisco Rec Path.
Where is this duplex located?
The property is located at 32 Meridian Alley Frisco, CO.
What is the asking price?
The asking price for this property is $479,441.
What are key features of this property?
This property features: Three‑bedroom, two‑bath duplex unit in the Peak One Neighborhood; 2011 construction with an open floor plan; Front porch with views and a greenbelt setting
