Flex Space with Overhead
New
For Sale
$378,863
1048 Independent Avenue, Grand Junction, CO 81505
CommercialSale, Grand Junction, CO
Property Size1,669 SF
Price / SF$227
Days on Market6
Property Features for 1048 Independent Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CG
Directions
From Hwy 6&50 turn north onto Independent Ave. Building is located next door to Sam's Club in Building B (the building that faces the tennis bubble).
Subdivision
Grand Junction City
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
80750
Listing Agency:
RED COMPASS REALTY
(970) 245-7237
Listed By:
Jackson Berry · License #ER.100017940
(970) 261-9136
Added: Aug 20
Changed: Aug 24
Last Checked: Aug 25 at 8:06PM
MLS# 20264191
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.
Investment Insights
Based on property information with market context.
This 1,669-square-foot flex space combines finished office area with an open warehouse component. The office portion includes one private office, newer carpet, and newer paint, while the unit also provides one private restroom and a 14-foot overhead door serving the warehouse area.
Located at 1048 Independent Avenue in Grand Junction, Colorado, the property is configured for contractors, e-commerce businesses, and distributors. The combination of dedicated office space, warehouse capacity, and direct overhead-door access supports a range of commercial operating needs within a single unit.
Located at 1048 Independent Avenue in Grand Junction, Colorado, the property is configured for contractors, e-commerce businesses, and distributors. The combination of dedicated office space, warehouse capacity, and direct overhead-door access supports a range of commercial operating needs within a single unit.
Key Highlights
- 1,669 SF office/warehouse unit
- One private office with newer carpet and paint
- Open warehouse area with a 14' overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,413
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$348,260
$348.3K
Cap Rate 7%
$248,757
$248.8K
Cap Rate 9%
$193,478
$193.5K
Market Conditions
NOI Build-Up for 1,669 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.0K $17.40/SF
− Vacancy
−$2.3K −$1.35/SF
EGI
$26.8K $16.05/SF
− OpEx
−$9.4K −$5.62/SF
NOI
$17.4K $10.43/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$348,260
Cap Rate 7%
$248,757
Cap Rate 9%
$193,478
Alternative Uses
Best Use
Flex RnD
$248.8K
$217.7K – $290.2K
NOI $17,413 @ 7.0% cap · market cap 4.60%
Second Best
Office B
$225.3K
$197.2K – $262.9K
NOI $15,772 @ 7.0% cap · market cap 4.16%
Theoretical Best
Healthcare Medical
$3.17M
$2.77M – $3.70M
NOI $221,710 @ 7.0% cap · market cap 58.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81505, CO
11,791
Population
5,379
Households
2.2
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
72.1 sq mi
ZIP Area
164
Density / Sq Mi
$87,677
Median Household Income
$46,560
Median Earnings
$1,424
Median Rent
$436,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Includes a private office, restroom, and open warehouse area for contractor, e-commerce, or distribution operations.
Where is this flex space located?
The property is located at 1048 Independent Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $378,863.
What are key features of this property?
This property features: 1,669 SF office/warehouse unit; One private office with newer carpet and paint; Open warehouse area with a 14' overhead door
