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$117.52
Days on Market141
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
Listed By:
Ray Rickard, CCIM · License #CO EA1044695
(970) 250-1128
Source:
Crexi
Added: May 27
Changed: Oct 13
Last Checked: Oct 12 at 7:03PM
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 / Yr
$237,223
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
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
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 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 113.04%
Second Best
Office B
$3.39M
$2.97M – $3.95M
NOI $237,223 @ 7.0% cap · market cap 8.04%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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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 $2,950,000.
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
