Mixed-Use Property with Separate
For Sale
$440,000
1317 N 3rd Street, Grand Junction, CO 81501
CommercialSale, Grand Junction, CO
Property Size1,740 SF
Price / SF$252.87
Days on Market10
Property Features for 1317 N 3rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-1
Lot features
Irregular Lot
Directions
West on North Avenue, Turn right onto N. 3rd Street
Subdivision
Grand Junction City
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
8224
Amenities
private yard
mature trees
Listing Agency:
VIP INVESTMENTS
(970) 625-3992
Listed By:
Julie Ann Ebeler
(970) 379-4186
Added: Aug 25
Changed: Sep 2
Last Checked: Sep 3 at 3:06AM
MLS# 20264436
Copyright © 2026 Grand Junction Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,740-square-foot mixed-use property is arranged as two separately accessed sections, each with dedicated parking. One side has been remodeled as a residential-style unit with 2 bedrooms and 1 bath, while the other was previously operated as a dental laboratory. The layout may suit an owner-user, professional office, medical or dental-related operation, studio, or other permitted use, subject to applicable zoning and approvals.
The property includes on-site parking, a private yard, and mature trees. Its Grand Junction location is near downtown and provides access to major roads throughout town. The existing configuration can remain divided for separate occupancy or be adapted into a larger unified space, subject to the buyer’s plans and required approvals.
The property includes on-site parking, a private yard, and mature trees. Its Grand Junction location is near downtown and provides access to major roads throughout town. The existing configuration can remain divided for separate occupancy or be adapted into a larger unified space, subject to the buyer’s plans and required approvals.
Key Highlights
- 1,740‑square‑foot mixed‑use property with two separately accessed sections
- Remodeled side includes a 2‑bedroom, 1‑bath residential‑style unit
- Former dental laboratory area provides a separate office or commercial section
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
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,590
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 Office 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?
Mixed-use property - Two-sided layout with on-site parking, a private yard, and flexible commercial or office use potential.
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 property with two separately accessed sections; Remodeled side includes a 2‑bedroom, 1‑bath residential‑style unit; Former dental laboratory area provides a separate office or commercial section
