Finished-Basement
For Sale
$995,000
2015 Grayside Cir, Castle Rock, CO 80109
2025-built duplex in a 55+ community with a landscaped yard, finished office, and three-car garage.
Property Size3,668 SF
Days on Market11
Property Features for 2015 Grayside Cir
General Information
Standard status
Active
Size
3,668 SF
Total Parking Spaces
3
Property subtype
Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,986
Building Details
Building Size
3,668 SF
Year Built
2025
Listing Agency:
Serhant Colorado LLC
Listed By:
Katherine McCaslin · License #100072124
(970) 402-9329
Source:
Corken
Added: Sep 17
Changed: Sep 26
Last Checked: Sep 26 at 1:44PM
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 Serhant Colorado LLC
Investment Insights
Based on property information with market context.
Built in 2025, this duplex in a 55+ community combines a finished walk-out basement with practical interior improvements. The residence includes a professionally completed office with custom cabinetry and accent walls, custom window coverings throughout, and a whole-home water softener system. A three-car garage provides room for vehicles, storage, and recreational equipment.
The landscaped backyard is complete and opens toward rolling landscape views with no direct rear neighbors. The finished basement adds flexible living and entertaining space, while the property’s location in Castle Rock, Colorado, places the home at 2015 Grayside Cir, Castle Rock, CO 80109.
The landscaped backyard is complete and opens toward rolling landscape views with no direct rear neighbors. The finished basement adds flexible living and entertaining space, while the property’s location in Castle Rock, Colorado, places the home at 2015 Grayside Cir, Castle Rock, CO 80109.
Key Highlights
- Duplex built in 2025
- Finished walk‑out basement adds flexible living and entertaining space
- Professionally finished office with custom cabinetry and accent walls
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
$60,466
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
6.08%
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%
$1,209,320
$1.2M
Cap Rate 7%
$863,800
$863.8K
Cap Rate 9%
$671,844
$671.8K
Market Conditions
NOI Build-Up for 3,668 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
$90.2K $24.60/SF
− Vacancy
−$3.9K −$1.05/SF
EGI
$86.4K $23.55/SF
− OpEx
−$25.9K −$7.06/SF
NOI
$60.5K $16.48/SF
Area
Douglas County, CO
Vacancy
4.27%
Lease Rate
$24.60 /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%
$1,209,320
Cap Rate 7%
$863,800
Cap Rate 9%
$671,844
Alternative Uses
Best Use
Multifamily LT 5
$863.8K
$755.8K – $1.01M
NOI $60,466 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$796.0K
$696.5K – $928.6K
NOI $55,718 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,192 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 80109, CO
27,148
Population
9,598
Households
2.8
Avg Household Size
36
Median Age
57%
College-Educated
98%
High-School Grad
26.0 sq mi
ZIP Area
1,044
Density / Sq Mi
$148,417
Median Household Income
$63,640
Median Earnings
$2,245
Median Rent
$648,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - 2025-built duplex in a 55+ community with a landscaped yard, finished office, and three-car garage.
Where is this duplex located?
The property is located at 2015 Grayside Cir Castle Rock, CO.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Duplex built in 2025; Finished walk‑out basement adds flexible living and entertaining space; Professionally finished office with custom cabinetry and accent walls
