Second-Floor Office
New
For Sale
$149,820
1048 Independent Avenue, Grand Junction, CO 81505
CommercialSale, Grand Junction, CO
Property Size655 SF
Price / SF$228.73
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. Unit is upstairs in Building B.
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 9:06AM
MLS# 20264190
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 second-floor office condominium in Grand Junction provides 655 square feet of usable workspace in a walk-up setting. The layout combines an open main area with one enclosed private office, creating distinct work zones within the suite. A separate storage/flex room adds useful support space for records, supplies, or other office needs.
The property is located at 1048 Independent Avenue in Grand Junction, Mesa County, Colorado. Its office configuration offers a straightforward commercial setting for an owner-user seeking a compact suite with both collaborative and enclosed areas.
The property is located at 1048 Independent Avenue in Grand Junction, Mesa County, Colorado. Its office configuration offers a straightforward commercial setting for an owner-user seeking a compact suite with both collaborative and enclosed areas.
Key Highlights
- 655 square feet of second‑floor office space
- Open main area supports flexible workspace planning
- Enclosed private office provides a separate work area
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
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Frequently Asked Questions
What type of property is this?
Office units - Open workspace includes a private office and separate storage/flex room.
Where is this office units located?
The property is located at 1048 Independent Avenue 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 feet of second‑floor office space; Open main area supports flexible workspace planning; Enclosed private office provides a separate work area
