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    Cedaredge Multi-Tenant Residential Property Title is generated by Realmo AI

    285 S Grand Mesa Drive, Cedaredge, CO 81413

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    Pending
    $425,000

    MULTI_FAMILY - Other - Cedaredge, CO

    Property size:
    3,245 SF
    Lot size:
    0.20 Acres
    Added:
    May 14, 2026
    Days on Market:
    23
    Last Refresh:
    Jun 5 at 6:06 pm

    Property Features for 285 S Grand Mesa Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2
    Parking features
    Assigned
    Patio and Porch features
    Patio, Deck
    Interior features
    CeilingFans, GardenTubRomanTub, JettedTub
    Appliances
    Dryer, Dishwasher, ElectricOven, ElectricRange, Disposal, GasOven, GasRange, Microwave, Refrigerator, Washer
    Standard status
    Pending
    APN
    3193-292-00-050
    Size
    3,245 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2620

    Utilities

    Heating system
    Baseboard
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    2003
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Wood, Tile, Carpet, Vinyl
    Building materials
    Stucco, WoodFrame
    Roof type
    Asphalt, Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Lucinda Stanley
    Lucinda Stanley

    Listing agent Lucinda Stanley License #100029019

    Listing office GRAND MESA REAL ESTATE SERVICES 300 STAFFORD LANE STE 30214, DELTA, CO

    Listing date May 14, 2026

    MLS# 20262280 Listing URL

    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

    • Multi‑tenant residential property built in 2003, currently configured as a duplex and fully leased
    • 6% CAP rate investment offered with showings requiring 48‑hour notice to tenants
    • Conversion potential: set up to add a studio apartment and stackable washer/dryer for an easy duplex‑to‑triplex change
    • Private parking spaces plus fenced private yards for tenant convenience
    • Multiple apartments feature ceiling fans and garden tub/roman tub and jetted tub
    • Includes appliances such as refrigerator, dishwasher, electric and gas ranges/ovens, microwave, washer and dryer; roof is composition/asphalt

    Overview

    This well-maintained multi-tenant residential property, constructed in 2003, is situated in downtown Cedaredge and is currently fully leased. The property offers flexibility as an investment opportunity to continue generating rental income, live in one unit while renting the others, or accommodate multi-generational living. Configured and rented as a duplex, the property is set up for conversion to a triplex with the addition of a studio apartment and a stackable washer and dryer for the upstairs unit. Recent upgrades enhance comfort and appeal, while private parking spaces and fenced private yards add convenience for tenants. The property is adjacent to a pocket park honoring local Veterans and is within walking distance to downtown shops, restaurants, and amenities. The property is offered at a 6% CAP rate as a turnkey, income-producing property. The lot size is 0.2 acres and the property size is 3245 square feet. Showings are available with a 48-hour notice to tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedaredge
    County
    Delta
    State
    Colorado
    Longitude
    -107.924352
    Latitude
    38.898185

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    FAQs

    What type of property is this?
    Duplex - Well-maintained, fully leased property in downtown Cedaredge with investment potential.
    Where is this duplex located?
    The property is located at 285 S Grand Mesa Drive Cedaredge, CO.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Multi‑tenant residential property built in 2003, currently configured as a duplex and fully leased; 6% CAP rate investment offered with showings requiring 48‑hour notice to tenants; Conversion potential: set up to add a studio apartment and stackable washer/dryer for an easy duplex‑to‑triplex change
    (970) 512-3000
    We can help!
    Listing Contact
    Lucinda Stanley
    Lucinda Stanley
    Real Estate License ID: 100029019
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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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    285 S Grand Mesa Drive, Cedaredge, CO 81413-0000
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