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    Brand-New Finished Office Suites Title is generated by Realmo AI

    360 W Park Drive, Grand Junction, CO 81505

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    For Lease
    $3,000/Mo $0.95 SF/Yr (calc)

    COMMERCIAL - Grand Junction, CO

    Property size:
    37,734 SF
    Added:
    Mar 16, 2026
    Days on Market:
    84
    Last Refresh:
    Jun 7 at 5:06 am

    Property Features for 360 W Park Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Assigned, Guest
    Standard status
    Active
    Size
    37,734 SF

    Building Details

    Year built
    2018

    We can help!

    Listing Contact
    Ray Rickard, Ccim
    Ray Rickard, Ccim

    Listing agent Ray Rickard, Ccim License #EA1044695

    Listing office RE/MAX 4000, INC 120 W PARK DR STE 200, GRAND JUNCTION, CO

    Listing date Mar 16, 2026

    MLS# 20261193

    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

    • Three professional office units available with 5‑year minimum lease terms and personal guarantee requirements
    • Unit 1: 1,620 SF ground‑floor shell space at $25.00/SF plus $5.81 NNN per month (tenant finishes not included)
    • Unit 207: 1,139 SF upper‑level, brand‑new finished office space on a gross lease (excludes internet) at $2,500/month
    • Unit 205: 1,847 SF upper‑level, brand‑new finished office space on a gross lease (excludes internet) at $3,000/month
    • Parking includes customer parking, employee parking, guest and assigned spaces, plus underground reserved parking
    • Built in 2018 with high traffic counts and easy access

    Overview

    Three office units are available, limited to approved professional office space. Unit 1 is on the ground floor and is offered as shell space with 1,620 square feet, plus tenant finishes are not included. Units 207 and 205 are on the upper level and are both brand new finished office spaces, leased on a gross basis excluding internet. Unit 207 is 1,139 square feet, and Unit 205 is 1,847 square feet.

    The property benefits from high traffic counts and easy access. Customer parking and employee parking are available, and underground reserved parking is also offered, supporting both client visits and daily employee commute.

    These suites are well suited for professional tenants that need flexible office configurations, from a ground-floor buildout opportunity in Unit 1 to move-in ready finished spaces in Units 207 and 205. Leases are required to be a minimum of 5 years and include a personal guarantee, making the offering appropriate for established operators planning long-term occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Greg Green - D.A. ... Financial Advisor Muhammad S. Azzouz, ... Physician Grant Allen Henderson Physician Brian F. Simpson, ... Physician Dr. Omar Mubarak Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.573778
    Latitude
    39.091467

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    FAQs

    What type of property is this?
    Office units - Three professional office units with easy access and customer and employee parking, including underground reserved spaces.
    Where is this office units located?
    The property is located at 360 W Park Drive Grand Junction, CO.
    What is the lease rate?
    The lease rate is $3,000 /Mo.
    What are key features of this property?
    This property features: Three professional office units available with 5‑year minimum lease terms and personal guarantee requirements; Unit 1: 1,620 SF ground‑floor shell space at $25.00/SF plus $5.81 NNN per month (tenant finishes not included); Unit 207: 1,139 SF upper‑level, brand‑new finished office space on a gross lease (excludes internet) at $2,500/month
    (970) 250-1128
    We can help!
    Listing Contact
    Ray Rickard, Ccim
    Ray Rickard, Ccim
    Real Estate License ID: EA1044695
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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
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