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    Versatile Commercial Suite in Grand Junction Title is generated by Realmo AI

    1120 Wellington Avenue, Grand Junction, CO 81501

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    For Lease
    $3,883/Mo $33 SF/Yr (calc)

    COMMERCIAL - Grand Junction, CO

    Property size:
    1,391 SF
    Added:
    Sep 15, 2025
    Days on Market:
    254
    Last Refresh:
    May 26 at 8:06 pm

    Property Features for 1120 Wellington Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Driveway, Guest
    Standard status
    Active
    Size
    1,391 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# 20254807

    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

    • Highly visible location with expansive front‑facing windows ideal for signage and attracting customer traffic.
    • Adaptable open floor plan suitable for retail, optometry, or various professional/client‑facing businesses.
    • Fully equipped lab/workshop space perfect for technical services, fabrication, or specialized production.
    • Move‑in ready condition with warm wood accents, built‑in cabinetry, and custom display alcoves.
    • Spacious breakroom with extensive cabinetry, storage, counters, and seating for staff comfort.
    • Professionally maintained brick facade, covered entryway, and easy parking accessibility for staff and clients.

    Overview

    This versatile commercial suite in Grand Junction, CO, offers a blend of visibility and functionality. The suite features a reception and showroom area with expansive front-facing windows, providing natural light and visibility for signage and displays. The interior includes wood accents, built-in cabinetry, and custom display alcoves, creating an atmosphere suitable for retail or optometry use, but adaptable for various businesses. The open floor plan flows into workstations and administrative desks, designed for customer service and staff collaboration. A fully equipped lab or workshop space at the back of the suite includes shelving, counters, and utility access. Staff amenities include a spacious breakroom with cabinetry, storage, counters, and seating. Additional private offices and storage areas offer flexibility for administrative functions, consultations, or secure records management. The exterior features a brick facade, covered entryway, and parking lot accessibility. The 1,391 square foot suite is move-in ready and adaptable for professional services, medical practitioners, retail operators, or administrative offices.
    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.

    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?
    Retail space - Adaptable commercial suite with showroom, workstations, and lab space.
    Where is this retail space located?
    The property is located at 1120 Wellington Avenue Grand Junction, CO.
    What is the lease rate?
    The lease rate is $3,883 /Mo.
    What are key features of this property?
    This property features: Highly visible location with expansive front‑facing windows ideal for signage and attracting customer traffic.; Adaptable open floor plan suitable for retail, optometry, or various professional/client‑facing businesses.; Fully equipped lab/workshop space perfect for technical services, fabrication, or specialized production.
    (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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