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    230 3rd St Castle Rock, CO 80104-2460

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    230 3rd St Castle Rock, CO 80104-2460

    View on Map
    • Apartment buildings
    • 25,920 SF
    • 0.26 lot acres
    Off-Market
    Last Sale Jul 27, 2021
    $6,450,000
    Property ID
    US13-2177623
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $6,265,000
    Show details
    Cap Rate Potential
    6.5%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • New American Funding - Collin Keenan / Loan Service / Bank
    • Sachiko’s Hairstyling / Hair Salon
    • The Style Lounge / Hair Salon
    • The Office Bar & Kitchen / Restaurant
    • New American Funding - Emilee Quijano / Loan Service / Bank

    Property Details for 230 3rd St

    Year built
    2017
    Lot size
    0.26 lot acres
    Property size
    25,920 SF
    Property type
    Apartment buildings
    APN
    R0490005
    APU
    R0490005

    Description

    This exceptional offering presents two available office spaces within a four-story building situated in the heart of Castle Rock, Colorado, the nation's fastest-growing city. Located at 230 Third St, 80104, this property boasts a prime location just one block from Wilcox Street, a major thoroughfare, ensuring excellent visibility and convenient access. The suites offer a combined total of 1,467 to 1,600 square feet of space, suitable for a variety of businesses. The building itself has undergone recent renovations, featuring an updated and exciting design. The property is categorized as both traditional and executive office space, suitable for multiple tenants. This vibrant area is home to a diverse range of businesses, including Independent Bank, the Chamber of Commerce Visitors Center, Scileppis, Castle Rock Music, Land Title Guarantee Company, Castle Cafe, B&B Cafe, Country Peddler Bike & Ski, and the Douglas County Motor Vehicle Department, providing a strong commercial environment. The property's location within Douglas County offers easy access to major transportation routes and a thriving community. This is a rare opportunity to secure high-quality office space in a rapidly expanding and desirable location. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,080,000
      ML approach
      $6,275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,560,000
      6.5%
      $6,055,000
      7%
      $5,625,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,851,000
      Market price range: $1.19M - $3.85M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Castle Rock
    County
    Douglas
    State
    Colorado
    Longitude
    -104.861
    Latitude
    39.372
    CBSA code
    19740
    CBSA name
    DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $81,229
    $141,080
    $979,960
    $1,121,040
    -
    $815,444
    $5,664,557
    $6,480,001

    Comparable in this City

    • Value Estimation
      $19,670,000
      150,896 SF

      115 Wilcox St

      APARTMENT HOUSE (5+ UNITS) • 150,896 SF
      115 Wilcox St, Castle Rock, CO 80104-1992
      View Details
    • Value Estimation
      $1,920,000
      46,190 SF

      453 Oakwood Dr

      APARTMENT HOUSE (5+ UNITS) • 46,190 SF
      453 Oakwood Dr, Castle Rock, CO 80104-1660
      View Details
    • Value Estimation
      $695,000
      3,466 SF

      632 Ss St

      APARTMENT HOUSE (5+ UNITS) • 3,466 SF
      632 Ss St, Castle Rock, CO 80104-2623
      View Details
    • Value Estimation
      $6,430,000
      6,552 SF

      472 Gilbert St

      APARTMENT HOUSE (5+ UNITS) • 6,552 SF
      472 Gilbert St, Castle Rock, CO 80104-4411
      View Details
    • Value Estimation
      $905,000
      7,898 SF

      730 Wilcox St

      APARTMENT HOUSE (5+ UNITS) • 7,898 SF
      730 Wilcox St, Castle Rock, CO 80104-1704
      View Details
    • Value Estimation by Request
      3,380 SF

      714 Wilcox St

      APARTMENT HOUSE (5+ UNITS) • 3,380 SF
      714 Wilcox St, Castle Rock, CO 80104-1760
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Ericson Drive Multifamily Property

      Multifamily property on Ericson Drive, Colorado Springs.
      4335 Ericson Dr, Colorado Springs, CO 80104
      View Details
    • $2,400,000

      Castle Rock Multifamily Opportunity

      Multifamily property in Castle Rock, contact broker for details.
      532 Oakwood Dr, Castle Rock, CO 80104
      View Details
    • Contact for pricing
      1,200 SF

      Customizable Flex Space For Sale

      Affordable, customizable flex space suitable for business, storage, or recreation.
      1008 South St, Castle Rock, CO 80104
      View Details
    • Contact for pricing
      3,600 SF

      Industrial Condo Units For Sale

      3,600 SqFt industrial condo units available for purchase.
      2274 Manatt Ct, Castle Rock, CO 80104
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      200 SF

      Professional Office Space Available

      Upstairs office space with natural light and shared amenities.
      505-517 N Wilcox St, Castle Rock, CO 80104
      View Details
    • Contact for pricing
      936 SF

      Castle Rock Office Space Available

      Office space available for rent in Castle Rock, Colorado.
      201-212 Wilcox St, Castle Rock, CO 80104
      View Details
    • Contact for pricing
      1,800 SF

      Retail End Cap For Lease

      Highly visible retail space with ample parking and open floorplan.
      4284 Trail Boss Dr, Castle Rock, CO 80104
      View Details
    • Contact for pricing

      Retail Land for Lease

      Single tenant retail land available for lease.
      25 & Crystal Vly Pkwy, Castle Rock, CO 80104
      View Details
    • $30 SF/Yr
      460 SF

      Downtown Office Space For Rent

      Office space with key card access, showers, and EV charging.
      202 6Th St, Castle Rock, CO 80104
      View Details
    • $31 SF/Yr
      1,377 SF

      Downtown Castle Rock Office Space

      Modern office space for rent in downtown Castle Rock.
      210 5Th St, Castle Rock, CO 80104
      View Details
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    Castle Rock, CO 80104-2460
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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