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    Mike Foster, Clifton, CO

    License ID: IA40011873
    Coldwell Banker Commercial Prime Properties
    Years of Experience
    15

    Service Locations

    Contact details

    Phone:
    (970) 244-6602
    Office Address:
    131 N 6th St Ste 300, Grand Junction, CO, 81501

    Performance

    Listings
    29
    Total transactions
    120
    Total transactions amount
    $89M
    Price range
    $495k - 1.1M
    Average price
    $742k

    Listings

    For Sale (24)

    View map
    • $500,000

      Prime Development Parcel Along I-70

      0.60 acre commercial land parcel with high traffic count.
      3145 E 1/2 Rd, Grand Junction, CO 81504
      View Details
    • $1,300,000

      Redlands Residential Land Opportunity

      Two parcels totaling 8.29 acres in Redlands neighborhood.
      School Ridge Rd, Grand Junction, CO 81507
      View Details
    • $830,000

      Retail Commercial Pad on Highway

      1.03 acre commercial pad with highway visibility and access.
      50 Tbd Lot 4 Hwy, Grand Junction, CO
      View Details
    • $870,000

      Retail Commercial Pad on Highway

      1.05 acre commercial pad with highway visibility and access.
      50 Tbd Lot 3 Hwy, Grand Junction, CO
      View Details
    • $950,000

      Commercial Land at High-Traffic Intersection

      Commercial land suitable for multi-family, office, and retail development.
      28 1/4 Rd, Grand Junction, CO 81501
      View Details
    • $950,000

      Retail Commercial Pad Ready

      1.15 acre commercial pad with highway visibility.
      50 Tbd Lot 1 Hwy, Grand Junction, CO
      View Details
    • $285,500
      2,663 SF

      Downtown Delta Retail/Office Space

      Historic, updated 2,663 SF retail/office space in downtown Delta.
      543 Main St, Delta, CO 81416
      View Details
    • $900,000

      Retail Commercial Pad Ready

      1.23 acre retail commercial pad with highway visibility.
      50 Tbd Lot 2 Hwy, Grand Junction, CO
      View Details
    • $675,000

      Orchard Mesa Multifamily Opportunity

      6.77 AC land suitable for multifamily development.
      2649 Stacy Dr, Denver, CO 80221
      View Details
    • $715,000

      Residential Lot Near Businesses

      7.11-acre lot zoned R-4, supports high-density residential/commercial.
      2651 Stacy Dr, Grand Junction, CO
      View Details
    • $1,340,556
      95,754 SF

      Montrose Land Parcel For Sale

      Land parcel available in Montrose, Colorado.
      947 Mayfly Dr, Montrose, CO
      View Details
    • $449,890
      32,135 SF

      Montrose Land For Sale

      Land available in Montrose, Colorado, with 32,135 square feet.
      1248 Mayfly Dr, Montrose, CO
      View Details
    • $389,634
      27,831 SF

      Montrose Land Parcel For Sale

      Land parcel available in Montrose, Colorado.
      1101 Mayfly Dr, Montrose, CO
      View Details
    • $6,850,942

      Montrose Land For Sale

      Land available for sale in Montrose, Colorado.
      1631 N Townsend Ave, Montrose, CO 81401
      View Details
    • $481,138
      34,367 SF

      Montrose Land Parcel For Sale

      Land parcel available in Montrose, Colorado.
      1106 Mayfly Dr, Montrose, CO
      View Details
    • $507,990
      36,285 SF

      Montrose Land for Sale

      Land available in Montrose, Colorado, with 36,285 square feet.
      105 Merchant Dr, Montrose, CO 81401
      View Details
    • $2,128,336
      152,024 SF

      Montrose Land Parcel For Sale

      Large land parcel available in Montrose, Colorado.
      1309 Mayfly Dr, Montrose, CO
      View Details
    • $466,438
      33,317 SF

      Montrose Land Parcel For Sale

      Land parcel available in Montrose, Colorado, with 33,317 square feet.
      125 Merchant Dr, Montrose, CO 81401
      View Details
    • $983,458
      70,247 SF

      Montrose Land Parcel For Sale

      Land parcel available in Montrose, Colorado.
      1227 Mayfly Dr, Montrose, CO
      View Details
    • $2,807,672
      200,548 SF

      Montrose Land Parcel For Sale

      Land parcel available in Montrose, Colorado.
      1306 Mayfly Dr, Montrose, CO
      View Details
    • $495,000
      1 SF

      Commercial Corner Lot For Sale

      Developing commercial corner lot connecting residential area with business districts.
      2910 Acre, Grand Junction, CO 81504
      View Details
    • $1,500,000
      4 SF

      4.9 Acres Zoned MU-2

      4.9 acre commercial land parcel zoned MU-2.
      2350 Lot, Grand Junction, CO 81505
      View Details
    • $495,000

      Commercial Land Near Highway 6&50

      0.57 acre commercial parcel near shopping, food, and retail.
      2478 W Independent Ave, Grand Junction, CO 81505
      View Details
    • $1,200,000
      3 SF

      Commercial Corner Land For Sale

      Developing commercial corner connecting residential area with business districts.
      2912 D Rd, Grand Junction, CO 81504
      View Details

    For Lease (5)

    View map
    • $3,900 /Mo
      2,611 SF

      New Industrial Office Warehouse Units

      New construction industrial units with offices, restrooms, and laundry.
      357 Indian North Or Rd, Grand Junction, CO 81501
      View Details
    • $5,000 /Mo
      6,012 SF

      Office and Warehouse Space Available

      Office and warehouse space with fenced yard for rent.
      2520 Weslo Ct, Grand Junction, CO 81505
      View Details
    • $25,000
      51,566 SF

      Rifle Commercial Warehouse Space Available

      Two industrial buildings totaling 51,552 SF for lease.
      173 Oil Ct, Rifle, CO 81650
      View Details
    • $30 SF/Yr
      1,197 SF

      Adaptable Retail Space in Montrose

      Retail suites suitable for showroom, workspace, or food concept.
      1021 Mayfly Dr, Montrose, CO
      View Details
    • $12 SF/Yr
      22,116 SF

      Retail Building with Parking

      Retail building near CMU campus with ample parking.
      1834-1838 N 12Th St, Grand Junction, CO 81501
      View Details

    Leases and Sales on Map

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    Mike Foster, Clifton, CO
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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.

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    Mike Foster, Clifton, CO
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