Standalone Retail
For Sale
$1,825,000
2893 North Avenue, Grand Junction, CO 81501
CommercialSale, Grand Junction, CO
Property Size6,891 SF
Lot Size0.67 Acres
Price / SF$264.84
Days on Market16
Property Features for 2893 North Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-2
Directions
Located on south side of North Avenue just west of 29 Road.
Subdivision
Grand Junction City
Standard status
Active
Lot size
0.67 Acres
Taxes and HOA fees
Tax Annual Amount
20409
Listing Agency:
BRAY/COMMERCIAL
(970) 241-2909
Listed By:
Brian Bray · License #FA40038007
(970) 986-0446
Added: Aug 10
Changed: Aug 24
Last Checked: Aug 25 at 7:06AM
MLS# 20263960
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.
Investment Insights
Based on property information with market context.
The property is a standalone retail building comprising 6,891 SF on a 0.67-acre corner parcel. Constructed in 2017, the building includes 26 parking spaces and was previously occupied by an auto parts retailer. Its standalone format and prominent corner placement support a range of retail applications.
The site fronts a major arterial and provides access to the Interstate 70 Business Loop. Nearby retail and restaurant operators include Walmart, Walgreens, Big O Tires, Texas Roadhouse, Del Taco, and Taco Bell. The property is also within an Opportunity Zone and is located at 2893 North Avenue in Grand Junction, Colorado.
The site fronts a major arterial and provides access to the Interstate 70 Business Loop. Nearby retail and restaurant operators include Walmart, Walgreens, Big O Tires, Texas Roadhouse, Del Taco, and Taco Bell. The property is also within an Opportunity Zone and is located at 2893 North Avenue in Grand Junction, Colorado.
Key Highlights
- 6,891 SF standalone retail building constructed in 2017
- 0.67‑acre corner lot with 26 parking spaces
- Located along a major arterial with access to the Interstate 70 Business Loop
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,363
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,307,260
$1.3M
Cap Rate 7%
$933,757
$933.8K
Cap Rate 9%
$726,256
$726.3K
Market Conditions
NOI Build-Up for 6,891 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$99.2K $14.40/SF
− Vacancy
−$5.9K −$0.85/SF
EGI
$93.4K $13.55/SF
− OpEx
−$28.0K −$4.07/SF
NOI
$65.4K $9.49/SF
Area
Mesa County, CO
Vacancy
5.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,307,260
Cap Rate 7%
$933,757
Cap Rate 9%
$726,256
Alternative Uses
Best Use
Retail
$933.8K
$817.0K – $1.09M
NOI $65,363 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$13.08M
$11.44M – $15.26M
NOI $915,400 @ 7.0% cap · market cap 50.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 81501, CO
23,935
Population
11,524
Households
2.1
Avg Household Size
33
Median Age
27%
College-Educated
90%
High-School Grad
8.7 sq mi
ZIP Area
2,751
Density / Sq Mi
$48,500
Median Household Income
$32,160
Median Earnings
$974
Median Rent
$283,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Corner-lot retail property with arterial exposure, convenient Interstate 70 Business Loop access, and surrounding national retailers.
Where is this retail space located?
The property is located at 2893 North Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: 6,891 SF standalone retail building constructed in 2017; 0.67‑acre corner lot with 26 parking spaces; Located along a major arterial with access to the Interstate 70 Business Loop
