Shop with Office and
For Sale
Contact for pricing
1162 Ute Ave, Grand Junction, CO 81501
Downtown Grand Junction shop with office, yard, and development potential.
Property Size1,296 SF
Lot Size0.43 Acres
Price / SF$327.93
Days on Market912
Property Features for 1162 Ute Ave
General Information
Standard status
Active
Size
1,296 SF
Class
C
Total Parking Spaces
25
Lot size
0.43 Acres
Property subtype
Office, Industrial
Zoning
MU-2
Lease Type
NNN
Building Details
Year Built
1958
Year Renovated
1990
Buildings
1
Stories
1
Units
1
Listing Agency:
Venture Group
Listed By:
KYLE SERRANO · License #II 100075682
(970) 778-0796
Source:
Crexi
Added: Mar 9, 2024
Changed: Aug 28
Last Checked: Sep 7 at 7:38AM
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 Venture Group
Investment Insights
Based on property information with market context.
This property in Downtown Grand Junction features a shop with an office/reception area and a fenced yard. Situated on a 0.43-acre corner lot with signalized intersection, the location offers high visibility and exposure due to high traffic counts and a lighted pole sign. The shop includes two overhead doors and washer/dryer hookups. The front office/reception/showroom area is generously sized and features a glass storefront layout. Ample parking is available. The fenced yard provides storage space in the back. The property, totaling 1296 square feet, is suitable for small business use and offers development potential.
Key Highlights
- Prime downtown location on a signalized corner lot with high traffic counts and excellent visibility.
- Shop with office/reception area featuring a glass storefront layout.
- Fenced yard providing secure storage space.
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
$12,293
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
2.89%
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%
$245,860
$245.9K
Cap Rate 7%
$175,614
$175.6K
Cap Rate 9%
$136,589
$136.6K
Market Conditions
NOI Build-Up for 1,296 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
$18.7K $14.40/SF
− Vacancy
−$1.1K −$0.85/SF
EGI
$17.6K $13.55/SF
− OpEx
−$5.3K −$4.07/SF
NOI
$12.3K $9.49/SF
Area
Mesa County, CO
Vacancy
5.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$245,860
Cap Rate 7%
$175,614
Cap Rate 9%
$136,589
Alternative Uses
Best Use
Retail
$175.6K
$153.7K – $204.9K
NOI $12,293 @ 7.0% cap · market cap 2.89%
Second Best
Mixed Use
$83.3K
$72.9K – $97.1K
NOI $5,828 @ 7.0% cap · market cap 1.37%
Theoretical Best
Healthcare Medical
$2.46M
$2.15M – $2.87M
NOI $172,161 @ 7.0% cap · market cap 40.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown Grand Junction shop with office, yard, and development potential.
Where is this mixed-use property located?
The property is located at 1162 Ute Ave Grand Junction, CO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime downtown location on a signalized corner lot with high traffic counts and excellent visibility.; Shop with office/reception area featuring a glass storefront layout.; Fenced yard providing secure storage space.
