Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    236 Gunnison Ave Grand Junction, CO 81501

    View on Map
    Sponsored
    For Sale
    $719,950

    MULTI_FAMILY - Ranch - Grand Junction, CO

    Type:Single Family Residence
    Property size:
    1,978 SF
    Lot size:
    0.17 Acres
    Days on Market:
    7
    Last Refresh:
    Mar 25 at 1:06 am

    Property Features for 236 Gunnison Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Active
    Rooms
    Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bathroom 1
    Bedrooms
    4
    Bathrooms
    4
    APN
    2945-142-23-012
    Patio and Porch features
    Patio
    Interior features
    LaminateCounters
    Exterior features
    Shed, SprinklerIrrigation
    Appliances
    Dishwasher, ElectricOven, ElectricRange, Disposal, Microwave, Refrigerator, RangeHood
    Size
    1,978 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Forced Air, Hot Water(Heating), Natural Gas
    Water source
    Public

    Building Details

    Year built
    1939
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Simulatedwood, Laminate, Hardwood
    Building materials
    Stucco, WoodSiding, WoodFrame
    Roof type
    Composition, Asphalt
    Architectural style
    Ranch
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Brenda Bounds
    Brenda Bounds

    Lisa Sells LLC DBA Hometown Realty of Grand Junction

    Listing agent Brenda Bounds

    Listing date Mar 19, 2026

    MLS# 20261214

    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

    Downtown Grand Junction Triplex

    This triplex is located in downtown Grand Junction, approximately 1.2 miles from Colorado Mesa University (CMU). The property features three units. Unit 1, located on the upper level, includes two bedrooms and two bathrooms. Unit 2, situated on the lower level, has a separate entrance, one bedroom, and one bathroom. Unit 3 is a detached unit behind the main house, offering one bedroom and one bathroom. The property includes a one-car attached garage, plus partially covered parking spaces for four additional vehicles. All tenants have long-term leases with established rental histories. The owner occupies Unit 1. The property has undergone remodeling and updates utilizing high-end materials, with all work permitted. The lot size is 0.17 acres and the property size is 1978 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.568592
    Latitude
    39.073668

    Nearby Similar for Sale

    • New
      $1,700,000
      5,000 SF

      Iconic Grand Junction Business Opportunity

      Local landmark business and property for sale in Grand Junction.
      581 29 Rd, Grand Junction, CO 81504
      View Details
    • $599,000
      1,842 SF

      Profitable Liquor Store Opportunity

      Established liquor store for sale in Grand Junction, Colorado.
      715 Horizon Dr, Grand Junction, CO 81506
      View Details
    • $500,000

      Grand Junction Commercial Investment Opportunity

      NNN investment opportunity with long-term tenant in Grand Junction, CO.
      2472 Patterson Rd, Grand Junction, CO 81505
      View Details
    • $599,000
      1,842 SF

      Profitable Liquor Store Opportunity

      Established liquor store for sale in Grand Junction, Colorado.
      715 Horizon Dr, Grand Junction, CO 81506
      View Details
    • $4,050,000

      Multi-Tenant Office Investment Opportunity

      Well-maintained office property with stable occupancy in Grand Junction, CO.
      700 Belford Ave, Grand Junction, CO 81501
      View Details
    • $875,000

      Multi-Tenant Commercial Building For Sale

      Multi-tenant commercial building in high-visibility location, suitable for various users.
      3198 F Rd, Grand Junction, CO 81504
      View Details
    • $379,500
      2,622 SF

      Multi-Unit Investment Opportunity

      Versatile property with income potential near downtown Grand Junction.
      332 Lake Rd, Grand Junction, CO 81507
      View Details
    • $489,900
      2,864 SF

      Updated Duplex Near Colorado Mesa

      Turnkey, fully rented duplex near CMU with high cap rate.
      2336 Elm Ave, Grand Junction, CO 81501
      View Details
    • $459,000

      Grand Junction Office Space For Sale

      Centrally located office space ideal for medical or professional use.
      2472 Patterson Rd, Grand Junction, CO 81505
      View Details
    • $990,000
      3,520 SF

      Grand Junction Multifamily Plus Commercial Opportunity

      Multifamily and commercial property with redevelopment potential in Grand Junction.
      2718 Patterson Rd, Grand Junction, CO 81506
      View Details
    • $990,000
      4,960 SF

      Grand Junction Mixed-Use Development Opportunity

      Commercial office, 4-plex on 0.89 acres with development potential.
      2718 Patterson Rd, Grand Junction, CO 81506
      View Details
    • $799,900
      2,736 SF

      Grand Junction Historic District Multifamily

      Versatile property in Grand Junction's 7th Street Historic District.
      815 N 7Th St, Grand Junction, CO 81501
      View Details

    FAQs

    What type of property is this?
    Triplex - Triplex near CMU with permitted, high-end remodels and long-term tenants.
    Where is this triplex located?
    The property is located at 236 Gunnison Ave Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $719,950.
    What are key features of this property?
    This property features: - Prime downtown Grand Junction location: walk, bike, or drive to amenities and only 1.2 miles from CMU.; - Professionally designed and permitted remodel/updates using top-of-the-line materials.; - Triplex with three separate units: a 2 bed/2 bath upper unit, a 1 bed/1 bath lower unit, and a detached 1 bed/1 bath unit.
    (970) 234-0061
    Request Owner's contact information
    236 Gunnison Ave Grand Junction, CO 81501
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    236 Gunnison Ave
    Grand Junction, CO 81501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    236 Gunnison Ave Grand Junction, CO 81501
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brenda Bounds
    Brenda Bounds
    Real Estate License ID: FA400103335
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!