Church Facility with
1123 Pitkin Avenue, Glenwood Springs, CO 81601
For Sale
$2,500,000
CommercialSale, Glenwood Springs, CO
Property Size8,700 SF
Lot Size0.46 Acres
Price / SF$287.36
Days on Market9
Property Features for 1123 Pitkin Avenue
General Information
Property type
Property subtype
Zoning description
Directions
Subdivision
Standard status
Lot size
Additional Details
Property Use
Listing Agency:
RE/MAX 4000, INC
(970) 241-4000
Listed By:
Dee Ann Dardis
(970) 250-9538
Added: Nov 5
Changed: Nov 13
Last Checked: Nov 13 at 9:06AM
MLS# 20265402
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.
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Investment Insights
Based on property information with market context.
This church facility contains an estimated 8,700+/- square feet across two levels on approximately .46 of an acre. The main floor includes a sanctuary with seating for approximately 200, gathering and support areas, an office, foyer, nursery, and two large bathrooms. Downstairs, a fellowship space can be divided into smaller sections and is accompanied by a commercial-sized kitchen, a children's room with a 3/4 bathroom, additional office space, and storage.
A parsonage within the building has a kitchen, living area, dining area, three bedrooms, and one full bathroom. The property is zoned RM2 and is located at 1123 Pitkin Avenue in Glenwood Springs, Colorado.
A parsonage within the building has a kitchen, living area, dining area, three bedrooms, and one full bathroom. The property is zoned RM2 and is located at 1123 Pitkin Avenue in Glenwood Springs, Colorado.
Key Highlights
- Approximately .46 of an acre with an estimated 8,700+/- square feet of building space
- Main‑level sanctuary seats approximately 200
- Lower‑level fellowship area can be partitioned into smaller sections
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,947
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,798,940
$1.8M
Cap Rate 7%
$1,284,957
$1.3M
Cap Rate 9%
$999,411
$999.4K
Market Conditions
NOI Build-Up for 8,700 SF
Gross rent
$156.6K $18.00/SF
− Vacancy
−$12.7K −$1.46/SF
EGI
$143.9K $16.54/SF
− OpEx
−$54.0K −$6.20/SF
NOI
$89.9K $10.34/SF
Area
Garfield County, CO
Vacancy
8.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,798,940
Cap Rate 7%
$1,284,957
Cap Rate 9%
$999,411
Alternative Uses
Best Use
Mixed Use
$1.28M
$1.12M – $1.50M
NOI $89,947 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,490 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,488
Businesses Nearby
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Business Placement
Demographics for 81601, CO
16,484
Population
6,491
Households
2.5
Avg Household Size
38
Median Age
41%
College-Educated
88%
High-School Grad
367.6 sq mi
ZIP Area
45
Density / Sq Mi
$103,632
Median Household Income
$45,271
Median Earnings
$1,812
Median Rent
$726,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Church & religious facility - RM2-zoned property includes a three-bedroom residential unit with its own kitchen, living area, dining area, and full bathroom.
Where is this church & religious facility located?
The property is located at 1123 Pitkin Avenue Glenwood Springs, CO.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Approximately .46 of an acre with an estimated 8,700+/- square feet of building space; Main‑level sanctuary seats approximately 200; Lower‑level fellowship area can be partitioned into smaller sections
