Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    789 23 Rd Grand Junction, CO 81505

    Sponsored
    For Sale
    $11,000,000

    COMMERCIAL - Grand Junction, CO

    Lot size:
    68.20 Acres
    Days on Market:
    278
    Last Refresh:
    Feb 3 at 4:06 am

    Property Features for 789 23 Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    2701-311-25-001
    Lot size
    68.20 Acres

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Ray Rickard
    Ray Rickard

    RE/MAX 4000, INC (970) 241-4000

    Listing agent Ray Rickard, Ccim (970) 250-1128

    Listing date May 2, 2025

    MLS# 20251882

    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

    Grand Junction Planned Development Land

    This 68.2-acre property in Grand Junction, CO, is a planned development opportunity. The development plan includes 33 acres for single-family residential use (detached and attached residential), 8 acres for high-density residential use (apartments and condominiums), and 2 acres for mixed residential and neighborhood center use. Approximately 12.5 acres are designated for internal right-of-way (ROW), and 13.65 acres are allocated as open space. The development is planned to be constructed within 8 phases. The proposed density ranges from 500 to 625 units, with an overall density between 7 and 9 dwelling units per acre. A joint venture with "EcoSmart Solution" is possible. Additional development information is available in associated documents.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Law Firm Building Supply Big Box & Wholesale Store Hotel & Motel Gym & Fitness Center Auto Repair Shop Department Store Auto Parts Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.627685
    Latitude
    39.117244

    Nearby Similar for Sale

    • $797,000
      2,880 SF

      Spacious Duplex in Prime Location

      Well-maintained duplex in Grand Junction's coveted 81507 zip code.
      2422-1/2 Hidden Valley Dr, Grand Junction, CO 81507
      View Details
    • $1,700,000
      6,159 SF

      Four Single-Family Investment Homes

      Four modern homes in Grand Junction, fully leased until 2026.
      215 Shadow Mesa St, Grand Junction, CO 81503
      View Details
    • New
      $821,500
      2,736 SF

      Grand Junction Multifamily Property

      Versatile property in historic district with income potential.
      815 N 7Th St, Grand Junction, CO 81501
      View Details
    • $499,900
      2,864 SF

      Turnkey Duplex Near Colorado Mesa

      Updated duplex near CMU, ideal for investors or owner-occupants.
      2336 Elm Ave, Grand Junction, CO 81501
      View Details
    • New
      $399,000
      1,888 SF

      Grand Junction Duplex with Income Potential

      Spacious duplex near hospitals and CMU, ideal for investors.
      1840 Rood Ave, Grand Junction, CO 81501
      View Details
    • New
      $728,900
      1,978 SF

      Downtown Grand Junction Triplex

      Triplex in the heart of downtown Grand Junction, Colorado.
      236 Gunnison Ave, Grand Junction, CO 81501
      View Details
    • $1,850,000

      Profitable Turn-Key Farm Opportunity

      Established farm with retail store, wholesale operations, and workforce housing.
      2889 C Rd, Grand Junction, CO 81503
      View Details
    • $548,000
      2,726 SF

      Two Homes on Large Lot

      Two homes on a 0.72 acre lot.
      542 29 Rd, Grand Junction, CO 81504
      View Details
    • $389,000
      2,622 SF

      Multi-Unit Investment Opportunity

      Three units near downtown Grand Junction with income potential.
      332 Lake Rd, Grand Junction, CO 81507
      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
    • $459,000

      Grand Junction Office Space For Sale

      Centrally located office space ideal for medical or professional use.
      2472 Patterson Rd, Grand Junction, CO 81505
      View Details
    • $365,000
      2,362 SF

      Duplex Conversion Opportunity in Grand Junction

      Duplex conversion with income potential on a spacious lot.
      1055 Glenwood Dr, Grand Junction, CO 81503
      View Details

    FAQs

    What type of property is this?
    Land - 70 acre planned development land in Grand Junction, Colorado.
    Where is this land located?
    The property is located at 789 23 Rd Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $11,000,000.
    What are key features of this property?
    This property features: - 70-acre planned development.; - 33 acres designated for single-family residential.; - 8 acres allocated for high-density residential.
    (970) 250-1128
    Request Owner's contact information
    789 23 Rd Grand Junction, CO 81505
    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.
    789 23 Rd
    Grand Junction, CO 81505
    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
    789 23 Rd Grand Junction, CO 81505
    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
    Ray Rickard
    Ray Rickard
    Real Estate License ID: EA1044695
    (970) 250-1128
    Learn more
    Google sign-in failed. Please try again or use another login method.