Industrial Condo Units For
For Sale
Contact for pricing
Pending
2274 Manatt Ct, Castle Rock, CO 80104
3,600 SqFt industrial condo units available for purchase.
Property Size3,600 SF
Days on Market156
Property Features for 2274 Manatt Ct
General Information
Standard status
Pending
Size
3,600 SF
Class
B
Property subtype
Industrial
Building Details
Year Built
2017
Stories
2
Units
2
Listing Agency:
BRC Real Estate
(303) 506-8122
Listed By:
Brian Tobler · License #CO FA.100090726
Source:
Crexi
Added: Mar 20
Changed: Aug 8
Last Checked: Aug 8 at 2:53PM
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 BRC Real Estate
Investment Insights
Based on property information with market context.
This property features industrial condo units with a total area of 3,600 square feet. It is classified as flex space, industrial property, and commercial real estate.
Key Highlights
- Industrial condo unit
- 3,600 sqft of space
- Built in 2017
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
$51,374
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
6.20%
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%
$1,027,480
$1.0M
Cap Rate 7%
$733,914
$733.9K
Cap Rate 9%
$570,822
$570.8K
Market Conditions
NOI Build-Up for 3,600 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
$74.7K $20.76/SF
− Vacancy
−$1.3K −$0.37/SF
EGI
$73.4K $20.39/SF
− OpEx
−$22.0K −$6.12/SF
NOI
$51.4K $14.27/SF
Area
Douglas County, CO
Vacancy
1.80%
Lease Rate
$20.76 /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%
$1,027,480
Cap Rate 7%
$733,914
Cap Rate 9%
$570,822
Alternative Uses
Best Use
Industrial
$733.9K
$642.2K – $856.2K
NOI $51,374 @ 7.0% cap · market cap 6.20%
Second Best
Flex RnD
$671.1K
$587.2K – $782.9K
NOI $46,975 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,557 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,620
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80104, CO
34,727
Population
13,945
Households
2.5
Avg Household Size
38
Median Age
54%
College-Educated
97%
High-School Grad
70.7 sq mi
ZIP Area
491
Density / Sq Mi
$131,359
Median Household Income
$60,982
Median Earnings
$1,816
Median Rent
$586,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 3,600 SqFt industrial condo units available for purchase.
Where is this flex space located?
The property is located at 2274 Manatt Ct Castle Rock, CO.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: Industrial condo unit; 3,600 sqft of space; Built in 2017
