Mixed-Use Property with Separate
For Sale
$440,000
1317 3rd Street, Grand Junction, CO 81501
Central building offers private outdoor space, on-site parking, and adaptable occupancy for two users.
Property Size1,740 SF
Price / SF$252.87
Days on Market21
Property Features for 1317 3rd Street
General Information
Standard status
Active
Size
1,740 SF
Property subtype
General Commercial
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$8,224
Amenities
private yard
mature trees
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
VIP Investments
(970) 625-3992
Listed By:
Julie Ebeler
(970) 379-4186
Source:
Xome
Added: Aug 22
Changed: Sep 10
Last Checked: Aug 28 at 6:47AM
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 VIP Investments
Investment Insights
Based on property information with market context.
This 1,740-square-foot mixed-use building at 1317 N 3rd St is configured with two separately entered areas, each with dedicated parking. One side has been remodeled as a residential-style unit with 2 bedrooms and 1 bathroom. The other side was previously used as a dental laboratory and can support office, medical, dental-related, studio, or other business use subject to applicable zoning and approvals.
The property includes on-site parking, a private yard, and mature trees, with access to major roads throughout town. Its existing layout can remain divided for two users, or the interior may be reconfigured into a larger space. The property is near downtown in Grand Junction, Colorado, and offers a flexible setting for an owner-user, separate occupants, or a business seeking distinct entrances and outdoor space.
The property includes on-site parking, a private yard, and mature trees, with access to major roads throughout town. Its existing layout can remain divided for two users, or the interior may be reconfigured into a larger space. The property is near downtown in Grand Junction, Colorado, and offers a flexible setting for an owner-user, separate occupants, or a business seeking distinct entrances and outdoor space.
Key Highlights
- 1,740‑square‑foot mixed‑use building near downtown
- Two separately entered areas with dedicated parking
- Remodeled side includes 2 bedrooms and 1 bathroom
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
$16,443
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
3.74%
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%
$328,860
$328.9K
Cap Rate 7%
$234,900
$234.9K
Cap Rate 9%
$182,700
$182.7K
Market Conditions
NOI Build-Up for 1,740 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
$31.3K $18.00/SF
− Vacancy
−$9.4K −$5.40/SF
EGI
$21.9K $12.60/SF
− OpEx
−$5.5K −$3.15/SF
NOI
$16.4K $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%
$328,860
Cap Rate 7%
$234,900
Cap Rate 9%
$182,700
Alternative Uses
Best Use
Office B
$234.9K
$205.5K – $274.1K
NOI $16,443 @ 7.0% cap · market cap 3.74%
Second Best
Mixed Use
$111.8K
$97.8K – $130.4K
NOI $7,825 @ 7.0% cap · market cap 1.78%
Theoretical Best
Healthcare Medical
$3.30M
$2.89M – $3.85M
NOI $231,142 @ 7.0% cap · market cap 52.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,339
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 - Central building offers private outdoor space, on-site parking, and adaptable occupancy for two users.
Where is this mixed-use property located?
The property is located at 1317 3rd Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 1,740‑square‑foot mixed‑use building near downtown; Two separately entered areas with dedicated parking; Remodeled side includes 2 bedrooms and 1 bathroom
