Second-Floor Office
For Sale
$149,820
1048 Independent Avenue #B203, Grand Junction, CO 81505
Walk-up suite combines open workspace with a private office and storage/flex room.
Property Size655 SF
Price / SF$228.73
Days on Market10
Property Features for 1048 Independent Avenue #B203
General Information
Standard status
Active
Size
655 SF
Elevators
No
Property subtype
Commercial
Additional Details
Floor
2
Listing Agency:
RED COMPASS REALTY
(970) 261-9136
Listed By:
Jackson Berry · License #394
Source:
Buygrandjunctionco
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 30 at 1:32PM
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 655-square-foot office condominium is located on the second floor and is accessed by stairs. The layout includes an open work area, one enclosed private office, and a separate storage/flex room, providing a practical mix of collaborative and individual workspace.
The property is identified as Unit B203 at 1048 Independent Avenue in Grand Junction, Colorado. Its compact configuration offers defined rooms within a professionally oriented commercial setting, with the storage/flex area adding useful support space for office operations.
The property is identified as Unit B203 at 1048 Independent Avenue in Grand Junction, Colorado. Its compact configuration offers defined rooms within a professionally oriented commercial setting, with the storage/flex area adding useful support space for office operations.
Key Highlights
- 655‑square‑foot second‑floor office condominium
- Open work area supports flexible office layout
- Enclosed private office provides dedicated workspace
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
$6,190
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
4.13%
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%
$123,800
$123.8K
Cap Rate 7%
$88,429
$88.4K
Cap Rate 9%
$68,778
$68.8K
Market Conditions
NOI Build-Up for 655 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
$11.8K $18.00/SF
− Vacancy
−$3.5K −$5.40/SF
EGI
$8.3K $12.60/SF
− OpEx
−$2.1K −$3.15/SF
NOI
$6.2K $9.45/SF
Area
Mesa County, CO
Vacancy
30.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$123,800
Cap Rate 7%
$88,429
Cap Rate 9%
$68,778
Alternative Uses
Best Use
Office B
$88.4K
$77.4K – $103.2K
NOI $6,190 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.24M
$1.09M – $1.45M
NOI $87,010 @ 7.0% cap · market cap 58.08%
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Walk-up suite combines open workspace with a private office and storage/flex room.
Where is this office units located?
The property is located at 1048 Independent Avenue #B203 Grand Junction, CO.
What is the asking price?
The asking price for this property is $149,820.
What are key features of this property?
This property features: 655‑square‑foot second‑floor office condominium; Open work area supports flexible office layout; Enclosed private office provides dedicated workspace
