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    Functional Office/Medical Space Available Title is generated by Realmo AI

    1120 Wellington Avenue, Grand Junction, CO 81501

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    For Lease
    $7,887/Mo $33 SF/Yr (calc)

    COMMERCIAL - Grand Junction, CO

    Property size:
    2,825 SF
    Added:
    Sep 15, 2025
    Days on Market:
    260
    Last Refresh:
    Jun 1 at 4:06 pm

    Property Features for 1120 Wellington Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Driveway
    Standard status
    Active
    Size
    2,825 SF

    Building Details

    Year built
    1981

    We can help!

    Listing Contact
    Mike Park
    Mike Park

    Listing agent Mike Park License #100028342

    Listing office THE CHRISTI REECE GROUP 1601 RIVERFRONT DR STE 103, GRAND JUNCTION, CO

    Listing date Sep 15, 2025

    MLS# 20254809

    Copyright © 2026 Grand Junction Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Move‑in ready, versatile space suitable for office or medical use.
    • Multiple private offices/consultation rooms, some with sinks and specialized fixtures.
    • Spacious reception and waiting area for clients/patients.
    • Ample on‑site parking and easy accessibility.
    • Abundant storage with extensive cabinetry, file drawers, and shelving.
    • Professional brick exterior with clean landscaping.

    Overview

    This commercial property at 1120 Wellington Avenue offers a well-designed office or medical space. The interior features a reception area and a generously sized waiting room. The floor plan includes multiple private offices and consultation rooms, several of which are outfitted with sinks, counters, and specialized fixtures, making the space suited for medical, dental, or therapeutic practices, and adaptable for professional services such as law, accounting, or business administration. Open work areas are outfitted with built-in desks and shelving. Throughout the property, cabinetry, file drawers, and wall-to-wall shelving offer storage options. Utility rooms, copy and print stations, and back-office areas enhance operational flow. Large windows bring in natural light to key office spaces. The brick exterior, accented with landscaping and a defined main entrance, conveys stability. Ample on-site parking and accessibility enhance convenience for staff and visitors. The property offers flexibility to be customized to the unique requirements of any business or healthcare provider. The property contains 2825 square feet and is located in Grand Junction, Colorado.
    Property Profile Location Intelligence

    Current Use by Public Records

    Eckley Bridget C Employment Agency Joshua Hulst, MD Pediatrician Toni Davison Physician Cathryn Schnell Physician J C Medical ... Business Management Consultant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Cottonwood Veterinary Hospital — 2232 N 7th St #18, Grand Junction, CO 81501
    • Kokopelli Animal Hospital — 456 kokopelli dr #e, fruita, co 81521

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.55415
    Latitude
    39.090264

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    FAQs

    What type of property is this?
    Medical Office Space - Versatile office or medical space with ample storage and parking.
    Where is this medical office space located?
    The property is located at 1120 Wellington Avenue Grand Junction, CO.
    What is the lease rate?
    The lease rate is $7,887 /Mo.
    What are key features of this property?
    This property features: Move‑in ready, versatile space suitable for office or medical use.; Multiple private offices/consultation rooms, some with sinks and specialized fixtures.; Spacious reception and waiting area for clients/patients.
    (970) 208-3853
    We can help!
    Listing Contact
    Mike Park
    Mike Park
    Real Estate License ID: 100028342
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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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