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    2148 Broadway, Unit D-2 Grand Junction, CO 81507

    Sponsored
    For Lease
    $12,749 /Mo ($2 SF/Yr)

    COMMERCIAL - Grand Junction, CO

    Property size:
    54,316 SF
    Days on Market:
    97
    Last Refresh:
    Jan 21 at 4:06 am

    Property Features for 2148 Broadway

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Size
    54,316 SF

    Building Details

    Year built
    1977

    We can help!

    Listing Contact
    Kelsay Heath

    COLDWELL BANKER DISTINCTIVE PROPERTIES (970) 243-0456

    Listing agent Kelsay Heath (970) 589-0150

    Listing date Oct 17, 2025

    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.

    Learn more

    Property Insight Report

    Overview

    Grand Junction Retail Flex Space

    Available for lease is over 10,000 square feet of flexible shell space located in Grand Junction's Monument Village Shopping Center. This end-cap unit offers visibility and accessibility with Highway 340 frontage. The large open area features 16-foot ceilings and a 550 square foot mezzanine. A drive-thru option is available, making it suitable for various uses, including retail, office, medical, or restaurant. The property benefits from a large front parking area and landscaped common walkways. It is located near the Redlands residential area. Potential business uses include hardware stores, pharmacies, health centers, and pet supply stores. The property is a prime end-cap retail flex space with a drive-through window and an outside yard area in the only major shopping center serving the Redlands market area, with primary space on the Pylon sign. Dollar Tree Plus is scheduled to open in mid-August 2025, along with national franchises GameDay, Men's Health, and Kitchen Tune Up, as well as neighborhood services that include Beauty Spa, Florist, Dance Studio, Coffee Shop, Barber, Liquor Store, and Therapists. Additionally, a prime 3,400 sq. ft. end cap pad space is available for Restaurant, Retail, and Medical uses, as well as two small inline spaces totaling approximately 2,000 sq. ft. in the courtyard building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Monument Fitness Club Weight Loss Service Family Dollar Tree ... General Store Monument Village Liquors Liquor Store Family Dollar School Supply Store Cardtronics ATM Atm

    Suggested Use

    Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Similar Places Nearby

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    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.650773
    Latitude
    39.088047

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    FAQs

    What type of property is this?
    Shopping center - Flexible retail space in Monument Village Shopping Center.
    Where is this shopping center located?
    The property is located at 2148 Broadway, Unit D-2 Grand Junction, CO.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: - Over 10,000 sq ft of flexible shell space suitable for retail, office, medical, or restaurant use.; - Located in Monument Village Shopping Center with excellent Highway 340 frontage and visibility.; - End-cap unit with drive-thru option and potential for outside yard area.
    (970) 589-0150
    Request Owner's contact information
    2148 Broadway, Unit D-2 Grand Junction, CO 81507
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    Grand Junction, CO 81507
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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
    2148 Broadway, Unit D-2 Grand Junction, CO 81507
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    We can help!
    Listing Contact
    Kelsay Heath
    (970) 589-0150
    Learn more
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