Grand Junction Retail
For Sale
Contact for pricing
599 29½ Road, Grand Junction, CO 81504
Retail property in Grand Junction with high visibility and parking.
Property Size2,635 SF
Price / SF$246.68
Days on Market478
Property Features for 599 29½ Road
General Information
Standard status
Active
Size
2,635 SF
Property subtype
Retail
Zoning
MU-1
Listed By:
Justin Gregory · License #100073917
Source:
Crexi
Added: May 13, 2025
Changed: Aug 26
Last Checked: Aug 31 at 11:18AM
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 Justin Gregory
Investment Insights
Based on property information with market context.
Located at 599 29½ Road in Grand Junction, this property offers a retail opportunity, previously used as a convenience store. The site provides visibility, ample parking, and adaptable square footage. The surrounding area includes residential neighborhoods, schools, and retail establishments. The location offers access to major roadways and proximity to amenities, suitable for businesses seeking a high-traffic, community-oriented setting. The property has a size of 2635 square feet.
Key Highlights
- Excellent visibility and high‑traffic location.
- Ample parking for customers and staff.
- Adaptable square footage suitable for various retail or service businesses.
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
$38,722
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
5.96%
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%
$774,440
$774.4K
Cap Rate 7%
$553,171
$553.2K
Cap Rate 9%
$430,244
$430.2K
Market Conditions
NOI Build-Up for 2,635 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
$56.0K $21.24/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$51.6K $19.59/SF
− OpEx
−$12.9K −$4.90/SF
NOI
$38.7K $14.70/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$21.24 /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%
$774,440
Cap Rate 7%
$553,171
Cap Rate 9%
$430,244
Alternative Uses
Best Use
Specialty Retail
$553.2K
$484.0K – $645.4K
NOI $38,722 @ 7.0% cap · market cap 5.96%
Second Best
Retail
$357.1K
$312.4K – $416.6K
NOI $24,994 @ 7.0% cap · market cap 3.85%
Theoretical Best
Healthcare Medical
$5.00M
$4.38M – $5.83M
NOI $350,033 @ 7.0% cap · market cap 53.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81504, CO
31,150
Population
13,042
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
91%
High-School Grad
26.9 sq mi
ZIP Area
1,158
Density / Sq Mi
$67,907
Median Household Income
$40,402
Median Earnings
$1,414
Median Rent
$290,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Retail property in Grand Junction with high visibility and parking.
Where is this grocery and convenience store located?
The property is located at 599 29½ Road Grand Junction, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Excellent visibility and high‑traffic location.; Ample parking for customers and staff.; Adaptable square footage suitable for various retail or service businesses.
