Flex Space with Overhead
For Sale
$377,728
1048 Independent Avenue #A105, Grand Junction, CO 81505
Office and warehouse areas support contractor, e-commerce, and distribution operations.
Property Size1,664 SF
Price / SF$227
Days on Market9
Property Features for 1048 Independent Avenue #A105
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Commercial
Amenities
private restroom
14' overhead door
utility sink
Listing Agency:
RED COMPASS REALTY
(970) 261-9136
Listed By:
Jackson Berry · License #394
Source:
Buygrandjunctionco
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 29 at 6:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RED COMPASS REALTY
Investment Insights
Based on property information with market context.
This 1,664 SF flex unit combines finished office space with an open warehouse area. The office component includes two private offices with newer carpet and one private restroom. Warehouse improvements include a 14' overhead door and utility sink, providing practical functionality for a range of commercial operations.
Located at 1048 Independent Avenue #A105 in Grand Junction, Colorado, the property is configured for users seeking a combined office and warehouse setting. The existing layout offers separated administrative space alongside clear open-area utility for storage, handling, or distribution activities.
Located at 1048 Independent Avenue #A105 in Grand Junction, Colorado, the property is configured for users seeking a combined office and warehouse setting. The existing layout offers separated administrative space alongside clear open-area utility for storage, handling, or distribution activities.
Key Highlights
- 1,664 SF flex space with office and warehouse areas
- Two private offices with newer carpet
- One private restroom
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
$17,361
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%
$347,220
$347.2K
Cap Rate 7%
$248,014
$248.0K
Cap Rate 9%
$192,900
$192.9K
Market Conditions
NOI Build-Up for 1,664 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
−$2.2K −$1.35/SF
EGI
$26.7K $16.05/SF
− OpEx
−$9.3K −$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%
$347,220
Cap Rate 7%
$248,014
Cap Rate 9%
$192,900
Alternative Uses
Best Use
Flex RnD
$248.0K
$217.0K – $289.4K
NOI $17,361 @ 7.0% cap · market cap 4.60%
Second Best
Office B
$224.6K
$196.6K – $262.1K
NOI $15,725 @ 7.0% cap · market cap 4.16%
Theoretical Best
Healthcare Medical
$3.16M
$2.76M – $3.68M
NOI $221,046 @ 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 - Office and warehouse areas support contractor, e-commerce, and distribution operations.
Where is this flex space located?
The property is located at 1048 Independent Avenue #A105 Grand Junction, CO.
What is the asking price?
The asking price for this property is $377,728.
What are key features of this property?
This property features: 1,664 SF flex space with office and warehouse areas; Two private offices with newer carpet; One private restroom
