Flex Space with Fenced
For Sale
Contact for pricing
701 Topeka Way, Castle Rock, CO 80109
Industrial flex property with established office infrastructure and secured outdoor storage capability.
Property Size79,596 SF
Price / SF$150.76
Days on Market9
Property Features for 701 Topeka Way
General Information
Standard status
Active
Size
79,596 SF
Property subtype
INDUSTRIAL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
Fenced Yard with Outside Storage
Office Infrastructure in Place
Listing Agency:
Colliers - Denver
(303) 888-1644
Listed By:
TJ Smith, SIOR
(303) 888-1644
Source:
Moodyscre
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 10 at 10:52AM
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 Colliers - Denver
Investment Insights
Based on property information with market context.
Located at 701 Topeka Way in Castle Rock, Colorado, this 79,596-square-foot flex property combines industrial space with office infrastructure already in place. The site includes a fenced yard that supports outside storage, adding functional utility beyond the building footprint.
The property is occupied by a national tenant and generates in-place income. Its address is 701 Topeka Way, Castle Rock, CO 80109.
The property is occupied by a national tenant and generates in-place income. Its address is 701 Topeka Way, Castle Rock, CO 80109.
Key Highlights
- 79,596‑square‑foot flex property at 701 Topeka Way
- Fenced yard with outside storage
- Office infrastructure already in place
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
$1,038,624
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
8.66%
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%
$20,772,480
$20.8M
Cap Rate 7%
$14,837,486
$14.8M
Cap Rate 9%
$11,540,267
$11.5M
Market Conditions
NOI Build-Up for 79,596 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
$1.65M $20.76/SF
− Vacancy
−$54.5K −$0.69/SF
EGI
$1.60M $20.07/SF
− OpEx
−$559.3K −$7.03/SF
NOI
$1.04M $13.05/SF
Area
Douglas County, CO
Vacancy
3.30%
Lease Rate
$20.76 /SF/Yr
Expense Ratio
35.00%
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%
$20,772,480
Cap Rate 7%
$14,837,486
Cap Rate 9%
$11,540,267
Alternative Uses
Best Use
Office B
$19.81M
$17.34M – $23.12M
NOI $1,387,045 @ 7.0% cap · market cap 11.56%
Second Best
Industrial
$16.23M
$14.20M – $18.93M
NOI $1,135,869 @ 7.0% cap · market cap 9.47%
Theoretical Best
Office A
$27.34M
$23.92M – $31.90M
NOI $1,913,781 @ 7.0% cap · market cap 15.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Stack'd Food Truck — 107 E Wolfensberger Rd, Castle Rock, CO 80109
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property with established office infrastructure and secured outdoor storage capability.
Where is this flex space located?
The property is located at 701 Topeka Way Castle Rock, CO.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: 79,596‑square‑foot flex property at 701 Topeka Way; Fenced yard with outside storage; Office infrastructure already in place
