Two-Tenant Mixed-Use
New
For Sale
$440,000
1317 N 3rd Street, Grand Junction, CO 81501
Separate entrances and on-site parking support the building’s existing two-part configuration.
Property Size1,740 SF
Price / SF$252.87
Days on Market4
Property Features for 1317 N 3rd Street
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Commercial
Zoning
MU-1
Additional Details
Office Units
2
Property Use
Office
Taxes and HOA fees
Annual Taxes
$8,224
Amenities
private yard
mature trees
Building Details
Building Size
1,740 SF
Year Built
1960
Buildings
1
Tenancy
Multi
Listing Agency:
VIP Investments
(970) 625-3992
Listed By:
Julie Ann Ebeler
(970) 379-4186
Source:
Frontierhomeandranch
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 5:43PM
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
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Investment Insights
Based on property information with market context.
The 1,740-square-foot mixed-use building is arranged for two separate occupants, with an entrance and parking area for each side. One side has been remodeled as a residential-style space with two bedrooms and one bathroom. The other side was previously used as a dental laboratory. The layout may remain divided or be reconfigured, subject to applicable zoning and approvals. The property also includes a private yard and mature trees.
Located near downtown at 1317 N 3rd Street in Grand Junction, the property offers access to major roads throughout town. It was built in 1960 and is zoned MU-1.
Located near downtown at 1317 N 3rd Street in Grand Junction, the property offers access to major roads throughout town. It was built in 1960 and is zoned MU-1.
Key Highlights
- 1,740‑square‑foot mixed‑use building configured for two separate occupants
- One side remodeled as a two‑bedroom, one‑bath residential‑style space
- Separate entrances and dedicated parking for each side
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,443
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
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
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 Rate 5%
$328,860
Cap Rate 7%
$234,900
Cap Rate 9%
$182,700
Alternative Uses
Best Use
Healthcare Medical
$3.30M
$2.89M – $3.85M
NOI $231,142 @ 7.0% cap · market cap 52.53%
Second Best
Office B
$234.9K
$205.5K – $274.1K
NOI $16,443 @ 7.0% cap · market cap 3.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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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
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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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate entrances and on-site parking support the building’s existing two-part configuration.
Where is this mixed-use property located?
The property is located at 1317 N 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 configured for two separate occupants; One side remodeled as a two‑bedroom, one‑bath residential‑style space; Separate entrances and dedicated parking for each side
