Duplex Near Fort
For Sale
Contact for pricing
366 Greensboro S, Colorado Springs, CO 80906
Duplex near Fort Carson with value-add opportunity.
Property Size1,536 SF
Price / SF$211.59
Days on Market195
Property Features for 366 Greensboro S
General Information
Standard status
Active
Size
1,536 SF
Class
C
Property subtype
Multifamily
Occupancy
50%
Investment Type
Value Add
Building Details
Year Built
1963
Buildings
1
Stories
1
Units
2
Listing Agency:
Cushman & Wakefield - Denver, Colorado
(417) 459-2155
Listed By:
Lee Wagner · License #CO 100084704
Source:
Crexi
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 29 at 4:54AM
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 Cushman & Wakefield - Denver, Colorado
Investment Insights
Based on property information with market context.
This duplex offers an investment opportunity near Fort Carson. The property is designed as single-story units, offering a layout that appeals to a wide range of tenants while minimizing long-term maintenance. Each unit features individually metered gas and electric along with separate mechanical systems, providing operational efficiency and cost control. The property offers an immediate value-add opportunity through strategic renovations and lease repositioning, allowing investors to unlock substantial upside while benefiting from stable occupancy. The property size is 1536 square feet.
Key Highlights
- Prime location minutes from Fort Carson, ensuring high rental demand.
- Immediate value‑add opportunity through rent increases and renovations.
- Single‑story units offer accessible layouts and reduced maintenance.
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
$20,331
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
6.26%
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%
$406,620
$406.6K
Cap Rate 7%
$290,443
$290.4K
Cap Rate 9%
$225,900
$225.9K
Market Conditions
NOI Build-Up for 1,536 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
$30.4K $19.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$29.0K $18.91/SF
− OpEx
−$8.7K −$5.67/SF
NOI
$20.3K $13.24/SF
Area
ZIP 80906
Vacancy
4.50%
Lease Rate
$19.80 /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%
$406,620
Cap Rate 7%
$290,443
Cap Rate 9%
$225,900
Alternative Uses
Best Use
Multifamily LT 5
$290.4K
$254.1K – $338.9K
NOI $20,331 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$269.2K
$235.5K – $314.0K
NOI $18,841 @ 7.0% cap · market cap 5.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 80906, CO
39,019
Population
16,771
Households
2.3
Avg Household Size
39
Median Age
49%
College-Educated
95%
High-School Grad
45.6 sq mi
ZIP Area
856
Density / Sq Mi
$88,047
Median Household Income
$47,314
Median Earnings
$1,634
Median Rent
$543,400
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 - Duplex near Fort Carson with value-add opportunity.
Where is this duplex located?
The property is located at 366 Greensboro S Colorado Springs, CO.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Prime location minutes from Fort Carson, ensuring high rental demand.; Immediate value‑add opportunity through rent increases and renovations.; Single‑story units offer accessible layouts and reduced maintenance.
