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    The Largest CRE Database in the US with Over 1 Million Listings

    588 N Grand Falls Ct Grand Junction, CO 81501

    Sponsored
    For Sale
    $2,625,000

    MULTI_FAMILY - Grand Junction, CO

    Property size:
    10,321 SF
    Lot size:
    0.03 Acres
    Days on Market:
    26
    Last Refresh:
    Feb 4 at 9:06 am

    Property Features for 588 N Grand Falls Ct

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Rooms
    Bedroom 18, Bedroom 10, Bathroom 7, Bedroom 14, Bedroom 6, Bedroom 16, Bathroom 4, Bedroom 2, Bathroom 13, Bathroom 15, Bathroom 2, Bedroom 13, Bedroom 5, Bedroom 12, Bedroom 8, Bathroom 12, Bathroom 16, Bathroom 20, Bedroom 17, Bedroom 20, Bedroom 15, Bedroom 19, Bedroom 7, Bedroom 9, Bathroom 11, Bedroom 4, Bathroom 9, Bathroom 14, Bathroom 3, Bedroom 1, Bathroom 1, Bathroom 10, Bedroom 11, Bathroom 19, Bathroom 18, Bathroom 8, Bathroom 6, Bathroom 17, Bathroom 5, Bedroom 3
    Bedrooms
    20
    Bathrooms
    20
    APN
    2943-072-74-005 +4
    Parking features
    Open
    Patio and Porch features
    Patio, Deck
    Interior features
    CeilingFans, GraniteCounters, Pantry, WalkInClosets, WalkInShower
    Exterior features
    SprinklerIrrigation
    Appliances
    Dishwasher, ElectricOven, ElectricRange, Disposal, Microwave
    Size
    10,321 SF
    Lot size
    0.03 Acres

    Utilities

    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2026
    Number of units
    5
    Flooring type
    Vinyl, Carpet
    Building materials
    Stucco, WoodFrame
    Roof type
    Asphalt, Composition

    We can help!

    Listing Contact
    Debra Maynard

    COLORADO 970 REAL ESTATE, LLC (970) 414-1642

    Listing agent Debra Maynard (970) 216-9531

    Listing date Jan 10, 2026

    MLS# 20260110

    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

    New Construction Townhomes with Views

    These are new construction townhomes located in a desirable and convenient city location. Each unit features a modern style with 4 bedrooms and 3.5 baths, complemented by a 1-car garage. The townhomes boast views and stylish floor plans with quality finishes, including 9-foot ceilings throughout. Each unit includes an upper deck and a lowered patio, both designed for privacy. A convenient half bath is located on the main floor. The ground floor area can serve multiple purposes, such as a fourth bedroom, mother-in-law suite, or college student suite, equipped with a kitchenette, washer/dryer hookups, and a private entrance. The kitchens feature granite countertops with upgraded large single bowl kitchen sinks and stainless steel appliances. Central air conditioning is installed, and luxury vinyl tile is used throughout, with carpet in the bedrooms, stair treads, and landings. LED lighting is installed throughout. The layout includes kitchen island seating and a separate dining area. Ceiling fans are installed in the living room and each bedroom. The manageable backyard area is enclosed with a vinyl privacy fence. The Homeowner's Association (HOA) covers exterior maintenance and front landscape maintenance, with the front yard landscaped with Xeriscape. The builder offers a $2000 allowance for backyard landscape of choice. These townhomes recently appraised for 2,750,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare 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
    -108.527828
    Latitude
    39.090143

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    FAQs

    What type of property is this?
    Apartment building - Five modern townhomes with quality finishes and incredible views.
    Where is this apartment building located?
    The property is located at 588 N Grand Falls Ct Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $2,625,000.
    What are key features of this property?
    This property features: - New construction, modern 4-bedroom, 3.5-bath townhome in a desirable city location.; - Ground floor suite with kitchenette, washer/dryer hookups, and private entrance, suitable as a 4th bedroom, in-law suite, or student suite.; - Incredible views from upper deck and lowered patio with privacy.
    (970) 216-9531
    Request Owner's contact information
    588 N Grand Falls Ct Grand Junction, CO 81501
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    Grand Junction, CO 81501
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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
    588 N Grand Falls Ct Grand Junction, CO 81501
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    We can help!
    Listing Contact
    Debra Maynard
    Real Estate License ID: FA100078727
    (970) 216-9531
    Learn more
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