Medical Office with
New
For Sale
$897,000
1660 North Avenue, Grand Junction, CO 81501
CommercialSale, Grand Junction, CO
Property Size3,000 SF
Price / SF$299
Days on Market5
Property Features for 1660 North Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-2
Directions
Located East of North 16th Street directly off of North Avenue.
Subdivision
Grand Junction City
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
14259
Listing Agency:
BRAY/COMMERCIAL
(970) 241-2909
Listed By:
Sid Squirrell · License #432
(970) 260-0121
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 10:06AM
MLS# 20264276
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 medical office property offers approximately 3,000 SF of existing space configured for medical use, along with a large unfinished basement of approximately 2,200 SF. The layout provides an established professional setting with additional lower-level area for storage or future planning, subject to the applicable requirements.
The property fronts North Avenue in Grand Junction and benefits from visible exposure, existing signage, and ample off-street parking. Its medical-oriented buildout and combination of finished office space with unfinished basement area create a practical commercial configuration for an owner-user or other office operation, subject to verification of specific use and improvement requirements.
The property fronts North Avenue in Grand Junction and benefits from visible exposure, existing signage, and ample off-street parking. Its medical-oriented buildout and combination of finished office space with unfinished basement area create a practical commercial configuration for an owner-user or other office operation, subject to verification of specific use and improvement requirements.
Key Highlights
- Approximately 3,000 SF of office space built out for medical use
- Large unfinished basement of approximately 2,200 SF
- Frontage and exposure along North Avenue
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
$28,350
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
3.16%
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%
$567,000
$567.0K
Cap Rate 7%
$405,000
$405.0K
Cap Rate 9%
$315,000
$315.0K
Market Conditions
NOI Build-Up for 3,000 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
$54.0K $18.00/SF
− Vacancy
−$16.2K −$5.40/SF
EGI
$37.8K $12.60/SF
− OpEx
−$9.5K −$3.15/SF
NOI
$28.4K $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%
$567,000
Cap Rate 7%
$405,000
Cap Rate 9%
$315,000
Alternative Uses
Best Use
Healthcare Medical
$5.69M
$4.98M – $6.64M
NOI $398,520 @ 7.0% cap · market cap 44.43%
Second Best
Office B
$405.0K
$354.4K – $472.5K
NOI $28,350 @ 7.0% cap · market cap 3.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,183
Businesses Nearby
Under-served
Demand for This Use
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
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Similar Off Market Nearby
- Animal Rehabilitation Center of Western Colorado — 1156 Hill Ave, Grand Junction, CO 81501
- Animal ER of the Western Slope — 1660 North Ave, Grand Junction, CO 81501
- Cottonwood Veterinary Hospital — 2232 N 7th St #18, Grand Junction, CO 81501
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical-oriented office buildout with off-street parking, signage, and additional unfinished lower-level space.
Where is this medical office space located?
The property is located at 1660 North Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $897,000.
What are key features of this property?
This property features: Approximately 3,000 SF of office space built out for medical use; Large unfinished basement of approximately 2,200 SF; Frontage and exposure along North Avenue
