Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    615 Penny Ln, Unit 3 Grand Junction, CO 81504

    View on Map
    Sponsored
    For Sale
    $110,000

    LAND - Ranch - Grand Junction, CO

    Type:Single Family Residence
    Lot size:
    0.20 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 10 at 8:06 pm

    Property Features for 615 Penny Ln

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Lot size
    0.20 Acres

    Utilities

    Water source
    Public

    Building Details

    Floors in Building
    1
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Ron Sechrist
    Ron Sechrist

    BRAY REAL ESTATE (970) 242-3647

    Listing agent Ron Sechrist (970) 260-7653

    Listing date Mar 9, 2026

    MLS# 20253703

    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

    Residential Land Grand Junction, CO

    Located in the Northeast area of Grand Junction, Colorado, the Silver Oak Subdivision features newly developed residential lots. The lots are located North of F Road (Patterson) at approximately 31 3/4 RD, with access from Entrada Street to Jamison Avenue. The available lots are flat and level, which facilitates ease of construction. The lot size is approximately 0.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.4626929
    Latitude
    39.09470285

    Nearby Similar for Sale

    • New
      $599,000
      1,842 SF

      Profitable Liquor Store Opportunity

      Established liquor store for sale in Grand Junction, Colorado.
      715 Horizon Dr, Grand Junction, CO 81506
      View Details
    • New
      $4,050,000

      Multi-Tenant Office Investment Opportunity

      Well-maintained office property with stable occupancy in Grand Junction, CO.
      700 Belford Ave, Grand Junction, CO 81501
      View Details
    • $1,200,000
      Pending

      Downtown Grand Junction Restaurant Opportunity

      Updated restaurant with expansion potential in downtown Grand Junction.
      626 Rood Ave, Grand Junction, CO 81501
      View Details
    • $875,000

      Multi-Tenant Commercial Building For Sale

      Multi-tenant commercial building in high-visibility location, suitable for various users.
      3198 F Rd, Grand Junction, CO 81504
      View Details
    • $500,000

      Grand Junction Commercial Investment Opportunity

      NNN investment opportunity with long-term tenant in Grand Junction, CO.
      2472 Patterson Rd, Grand Junction, CO 81505
      View Details
    • $2,000,000
      19,400 SF

      Grand Junction Commercial Investment Opportunity

      Fully leased commercial property with high traffic exposure in Grand Junction.
      2851 North Ave, Grand Junction, CO 81501
      View Details
    • New
      $535,000
      2,726 SF

      Multifamily Property on Large Lot

      Two homes on a mature 0.72-acre lot.
      542 29 Rd, Grand Junction, CO 81504
      View Details
    • New
      $379,500
      2,622 SF

      Multi-Unit Investment Opportunity

      Versatile property with income potential near downtown Grand Junction.
      332 Lake Rd, Grand Junction, CO 81507
      View Details
    • $699,900
      3,920 SF

      Grand Junction Four-Plex Near CMU

      Four-plex near Colorado Mesa University with FHA opportunity.
      641 N 19Th St, Grand Junction, CO 81501
      View Details
    • $1,050,000
      Pending

      Grand Junction Executive Office Building

      Well-maintained office building in central Grand Junction, fully leased.
      800 Belford Ave, Grand Junction, CO 81501
      View Details
    • $489,900
      2,864 SF

      Updated Duplex Near Colorado Mesa

      Turnkey, fully rented duplex near CMU with high cap rate.
      2336 Elm Ave, Grand Junction, CO 81501
      View Details
    • $235,000
      Pending

      Grand Junction Restaurant Opportunity

      Well-appointed restaurant condo unit for sale in Grand Junction.
      2493 Hwy 6&50, Grand Junction, CO 81505
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Newly developed residential lots in Silver Oak Subdivision.
    Where is this residential land & home lot located?
    The property is located at 615 Penny Ln, Unit 3 Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: - Easy to build on: Flat, level ground.; - Newly developed subdivision: 9 lots available.; - Convenient location: Easy access to the East part of the valley.
    (970) 260-7653
    Request Owner's contact information
    615 Penny Ln, Unit 3 Grand Junction, CO 81504
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    615 Penny Ln, Unit 3
    Grand Junction, CO 81504
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    615 Penny Ln, Unit 3 Grand Junction, CO 81504
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ron Sechrist
    Ron Sechrist
    (970) 260-7653
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!