Two-Story Flex Space with Storage
For Sale
$1,700,000
1111 S 7th Street, Grand Junction, CO 81501
CommercialSale, Grand Junction, CO
Property Size7,673 SF
Lot Size0.92 Acres
Price / SF$221.56
Days on Market145
Property Features for 1111 S 7th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Spec purpose
Lot features
Corner Lot
Directions
drive east on Riverside Parkway to S 7th Street, turn north. Properties are on the NW corner.
Subdivision
Grand Junction City
Standard status
Active
Lot size
0.92 Acres
Taxes and HOA fees
Tax Annual Amount
24356
Amenities
covered solar canopy
Listing Agency:
VENTURE GROUP
(970) 892-2200
Listed By:
Theresa Englbrecht · License #FA100006764
(970) 201-1849
Added: Apr 3
Changed: Aug 24
Last Checked: Aug 25 at 7:06PM
MLS# 20261509
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.
The offering combines two adjoining commercial parcels. The primary improvement at 1111 S. 7th Street is a 7,673-square-foot light industrial and office building on 0.48 acres. Built in 1958 and remodeled several times, the two-story structure contains 10 offices and includes a covered solar canopy. The property is identified as a flex-space asset with commercial and light-industrial characteristics.
The adjacent 620 Nolan parcel contributes 0.44 acres of fenced outdoor area that can serve for storage or parking. In total, the two properties comprise 0.92 acres. The site is located on the South 7th Street corridor, just north of Riverside Parkway and the Las Colonias development, and is within a Colorado opportunity zone.
The adjacent 620 Nolan parcel contributes 0.44 acres of fenced outdoor area that can serve for storage or parking. In total, the two properties comprise 0.92 acres. The site is located on the South 7th Street corridor, just north of Riverside Parkway and the Las Colonias development, and is within a Colorado opportunity zone.
Key Highlights
- 7,673‑square‑foot light industrial and office building on 0.48 acres
- Adjacent 0.44‑acre parcel provides fenced storage or parking area
- Two‑story building contains 10 offices
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
$80,056
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
4.71%
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%
$1,601,120
$1.6M
Cap Rate 7%
$1,143,657
$1.1M
Cap Rate 9%
$889,511
$889.5K
Market Conditions
NOI Build-Up for 7,673 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
$133.5K $17.40/SF
− Vacancy
−$10.3K −$1.35/SF
EGI
$123.2K $16.05/SF
− OpEx
−$43.1K −$5.62/SF
NOI
$80.1K $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%
$1,601,120
Cap Rate 7%
$1,143,657
Cap Rate 9%
$889,511
Alternative Uses
Best Use
Flex RnD
$1.14M
$1.00M – $1.33M
NOI $80,056 @ 7.0% cap · market cap 4.71%
Second Best
Office B
$1.04M
$906.4K – $1.21M
NOI $72,510 @ 7.0% cap · market cap 4.27%
Theoretical Best
Healthcare Medical
$14.56M
$12.74M – $16.99M
NOI $1,019,281 @ 7.0% cap · market cap 59.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Balanced
Demand for This Use
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 Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Colorado Q — 449 Main St, Grand Junction, CO 81501
Frequently Asked Questions
What type of property is this?
Flex space - Two adjoining parcels combine office space, light-industrial improvements, and a fenced storage or parking area.
Where is this flex space located?
The property is located at 1111 S 7th Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 7,673‑square‑foot light industrial and office building on 0.48 acres; Adjacent 0.44‑acre parcel provides fenced storage or parking area; Two‑story building contains 10 offices
