Building Details

Year Built 1964

Listed By: Andrea Haitz Show Phone

Added: Jun 13 Changed: Jul 15

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,936

Cap Rate

3.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$378,720 $378.7K

Cap Rate 7%

$270,514 $270.5K

Cap Rate 9%

$210,400 $210.4K

Market Conditions

NOI Build-Up for 1,904 SF

Gross rent

$29.2K $15.36/SF

− Vacancy

−$2.2K −$1.15/SF

EGI

$27.1K $14.21/SF

− OpEx

−$8.1K −$4.26/SF

NOI

$18.9K $9.95/SF

Area

Mesa County, CO

Vacancy

7.50%

Lease Rate

$15.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$378,720

Cap Rate 7%

$270,514

Cap Rate 9%

$210,400

Alternative Uses

Best Use

Multifamily LT 5

$270.5K

$236.7K – $315.6K (±1% cap)

NOI $18,936 @ 7.0% cap · market cap 3.86%

Second Best

Apartment 5plus

$248.4K

$217.4K – $289.8K (±1% cap)

NOI $17,389 @ 7.0% cap · market cap 3.55%

Theoretical Best

Healthcare Medical

$3.61M

$3.16M – $4.22M (±1% cap)

NOI $252,927 @ 7.0% cap · market cap 51.62%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Locksmith (Bike/Boat/Book/etc) Store Pet Store Restaurant Clothing & Fashion Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,152

Businesses Nearby

Explore this area Business Placement

Demographics for 81501, CO

23,935

Population

11,524

Households

2.1

Avg Household Size

33

Median Age

27%

College-Educated

90%

High-School Grad

8.7 sq mi

ZIP Area

2,751

Density / Sq Mi

$48,500

Median Household Income

$32,160

Median Earnings

$974

Median Rent

$283,300

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Side-by-side duplex with separate utilities, two bedrooms-per-unit layouts, and on-site laundry for straightforward rental management.

Where is this duplex located?

The property is located at 1011 Belford Ave Grand Junction, CO.

What is the asking price?

The asking price for this property is $490,000.