Mixed-Use Property with Medical
For Sale
Contact for pricing
1129 Colorado Avenue, Grand Junction, CO 81501
Multi-parcel commercial asset with existing buildings, paved parking, outdoor areas, and zoning supporting varied mixed-use applications.
Property Size25,103 SF
Lot Size1.85 Acres
Price / SF$127.47
Days on Market96
Property Features for 1129 Colorado Avenue
General Information
Standard status
Active
Size
25,103 SF
Total Parking Spaces
64
Lot size
1.85 Acres
Property subtype
Mixed Use
Zoning
MV, MU3 and MU2
Additional Details
Road Access
Yes
Land Use
commercial, mixed-use
Amenities
outdoor recreation and yard areas
Building Details
Year Built
1925
Year Renovated
1990
Buildings
3
Listing Agency:
RE/MAX 4000 Inc
(970) 250-1128
Listed By:
Ray Rickard, CCIM · License #CO EA1044695
Source:
Crexi
Added: May 27
Changed: Aug 30
Last Checked: Aug 30 at 3:14AM
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 RE/MAX 4000 Inc
Investment Insights
Based on property information with market context.
This multi-parcel mixed-use property includes several maintained buildings, existing medical office improvements, extensive paved parking, and outdoor recreation and yard areas. The improvements date to 1925 and provide an established physical base for continued commercial use or future redevelopment.
Located at 1129 Colorado Avenue in Grand Junction, the property benefits from signalized intersection exposure, sidewalk connectivity, and access to nearby amenities. Zoning includes MV, MU3, and MU2, supporting a range of stated possibilities including professional office, medical or healthcare, educational, institutional, community, and mixed-use redevelopment uses.
Located at 1129 Colorado Avenue in Grand Junction, the property benefits from signalized intersection exposure, sidewalk connectivity, and access to nearby amenities. Zoning includes MV, MU3, and MU2, supporting a range of stated possibilities including professional office, medical or healthcare, educational, institutional, community, and mixed-use redevelopment uses.
Key Highlights
- Multiple parcels with existing commercial buildings and medical office improvements
- Zoning includes MV, MU3, and MU2
- Extensive paved parking areas
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
$237,223
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
7.41%
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%
$4,744,460
$4.7M
Cap Rate 7%
$3,388,900
$3.4M
Cap Rate 9%
$2,635,811
$2.6M
Market Conditions
NOI Build-Up for 25,103 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
$451.9K $18.00/SF
− Vacancy
−$135.6K −$5.40/SF
EGI
$316.3K $12.60/SF
− OpEx
−$79.1K −$3.15/SF
NOI
$237.2K $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%
$4,744,460
Cap Rate 7%
$3,388,900
Cap Rate 9%
$2,635,811
Alternative Uses
Best Use
Healthcare Medical
$47.64M
$41.68M – $55.58M
NOI $3,334,683 @ 7.0% cap · market cap 104.21%
Second Best
Office B
$3.39M
$2.97M – $3.95M
NOI $237,223 @ 7.0% cap · market cap 7.41%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-parcel commercial asset with existing buildings, paved parking, outdoor areas, and zoning supporting varied mixed-use applications.
Where is this mixed-use property located?
The property is located at 1129 Colorado Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Multiple parcels with existing commercial buildings and medical office improvements; Zoning includes MV, MU3, and MU2; Extensive paved parking areas
