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    Former Truck Wash with Wash Bays Title is generated by Realmo AI

    374 31 5/8 Road, Grand Junction, CO 81504

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    For Lease
    $11,688/Mo $8 SF/Yr (calc)

    COMMERCIAL - Grand Junction, CO

    Property size:
    16,500 SF
    Added:
    Jan 1, 2026
    Days on Market:
    154
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for 374 31 5/8 Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking
    25
    Exterior features
    Storage
    Standard status
    Active
    Size
    16,500 SF

    Building Details

    Year built
    2008
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Katie Worrall
    Katie Worrall

    Listing agent Katie Worrall License #EA01317901

    Listing office CBRE PO BOX 832, GRAND JUNCTION, CO

    Listing date Jan 1, 2026

    MLS# 20260452

    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

    • Five total wash bays, including four connected bays and one stand‑alone.
    • Potential for conversion to shop or warehouse space.
    • Includes small office space and restroom.
    • Features an outside loading dock for easy access.
    • Has a storage area.
    • Concrete parking and negotiable yard area.

    Overview

    Building E is a former truck wash featuring four connected wash bays plus one stand-alone wash bay. The building includes a small office area with a restroom, along with a dedicated storage area. An outside loading dock supports day-to-day operations, and the site offers concrete parking along with a negotiable yard area for vehicle staging or related use.

    Located in Grand Junction, Colorado, the property is configured for wash operations while still offering flexibility for alternative industrial or service needs. The existing wash equipment can be removed, which opens the door to converting the improved interior into shop space or warehouse space. The combination of wash-bay layout, dock access, and available yard space can be valuable for tenants that require covered work areas and practical exterior staging.

    This space may appeal to operators looking for a turnkey starting point in the automotive, service, or light industrial sphere, especially where a bays-style interior and dock-ready access are beneficial. With equipment removable, the facility can be reworked to better match a tenant’s workflow, whether the end use remains wash-focused or transitions to warehousing or in-bay service work.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Similar Places Nearby

    • Hill and Homes Storage - Pipe Court — 3170 Pipe Ct, Grand Junction, CO 81504
    • Midlands Village Storage — 449 32 Rd, Clifton, CO 81520

    Map

    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.4629159
    Latitude
    39.0592936

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    FAQs

    What type of property is this?
    Warehouse - Former truck wash with multiple wash bays, small office, restroom, storage, and an outside loading dock for conversion potential.
    Where is this warehouse located?
    The property is located at 374 31 5/8 Road Grand Junction, CO.
    What is the lease rate?
    The lease rate is $11,688 /Mo.
    What are key features of this property?
    This property features: Five total wash bays, including four connected bays and one stand‑alone.; Potential for conversion to shop or warehouse space.; Includes small office space and restroom.
    (970) 216-7474
    We can help!
    Listing Contact
    Katie Worrall
    Katie Worrall
    Real Estate License ID: EA01317901
    Learn More
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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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