Multi-Tenant Flex Industrial
New
For Sale
$12,000,000
1600 Las Colonias Drive, Grand Junction, CO 81505
CommercialSale, Grand Junction, CO
Property Size37,680 SF
Lot Size3.00 Acres
Price / SF$318.47
Days on Market3
Property Features for 1600 Las Colonias Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
PD
Lot features
Corner Lot
Directions
Located in the Los Colonias business park on the far North side. Directly North of the butterfly pond. Turn right on las Colonias Drive while heading North on Riverside Parkway. Property is on the North side.
Subdivision
Grand Junction City
Standard status
Active
Lot size
3.00 Acres
Taxes and HOA fees
Tax Annual Amount
72000
Listing Agency:
COLDWELL BANKER DISTINCTIVE PROPERTIES
(970) 243-0456
Listed By:
John Metcalf
(760) 685-4995
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 3 at 6:06PM
MLS# 20264403
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.
Monument Business Park is a planned flex industrial development spanning approximately 37,680 SF across roughly 3 acres. The multi-tenant property is designed around adaptable suite configurations and supports industrial, manufacturing, technology, distribution, and office uses. Building features include minimum clear heights of 20 feet, 11 grade-level overhead doors measuring 14 by 14 feet, one or two dock wells, ample parking, a large rear yard, and significant power capacity.
The development is positioned near I-70 and downtown Grand Junction, providing access to regional transportation and the city center. The offering is subject to a long-term ground lease with the Las Colonias Development Corporation, with approximately 91 years remaining. The property is presented for owner-user, investment, and build-to-suit applications, subject to verification of development plans, permitted uses, and ground lease terms.
The development is positioned near I-70 and downtown Grand Junction, providing access to regional transportation and the city center. The offering is subject to a long-term ground lease with the Las Colonias Development Corporation, with approximately 91 years remaining. The property is presented for owner-user, investment, and build-to-suit applications, subject to verification of development plans, permitted uses, and ground lease terms.
Key Highlights
- Approximately 37,680 SF flex industrial development on approximately 3 acres
- 11 grade‑level overhead doors measuring 14X14ft
- Minimum clear heights of 20 feet
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
$393,133
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
3.28%
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%
$7,862,660
$7.9M
Cap Rate 7%
$5,616,186
$5.6M
Cap Rate 9%
$4,368,144
$4.4M
Market Conditions
NOI Build-Up for 37,680 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
$655.6K $17.40/SF
− Vacancy
−$50.8K −$1.35/SF
EGI
$604.8K $16.05/SF
− OpEx
−$211.7K −$5.62/SF
NOI
$393.1K $10.43/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
35.00%
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%
$7,862,660
Cap Rate 7%
$5,616,186
Cap Rate 9%
$4,368,144
Alternative Uses
Best Use
Flex RnD
$5.62M
$4.91M – $6.55M
NOI $393,133 @ 7.0% cap · market cap 3.28%
Second Best
Warehouse
$5.03M
$4.40M – $5.87M
NOI $352,302 @ 7.0% cap · market cap 2.94%
Theoretical Best
Healthcare Medical
$71.51M
$62.57M – $83.42M
NOI $5,005,411 @ 7.0% cap · market cap 41.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
11
Drive-in doors
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 81505, CO
11,791
Population
5,379
Households
2.2
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
72.1 sq mi
ZIP Area
164
Density / Sq Mi
$87,677
Median Household Income
$46,560
Median Earnings
$1,424
Median Rent
$436,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Planned development offers adaptable suites for industrial, manufacturing, technology, distribution, and office users.
Where is this flex space located?
The property is located at 1600 Las Colonias Drive Grand Junction, CO.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Approximately 37,680 SF flex industrial development on approximately 3 acres; 11 grade‑level overhead doors measuring 14X14ft; Minimum clear heights of 20 feet
