Flex Warehouse with Fenced
For Sale
$3,067,000
1944 Airport Road, Rifle, CO 81650
COMMERCIAL - Rifle, CO
Property Size14,000 SF
Lot Size1.50 Acres
Price / SF$219.07
Days on Market40
Property Features for 1944 Airport Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
LI PUD
Directions
I-70 to east Rifle exit, south to second round about then east on Airport Road, approximately 1/2 mile to site on your left
Subdivision
Rifle
Standard status
Active
Lot size
1.50 Acres
Taxes and HOA fees
Tax Annual Amount
48503
Listing Agency:
VENTURE GROUP
(970) 892-2200
Listed By:
Kyle Serrano · License #II100075682
(970) 778-0796
Added: Jul 15
Changed: Aug 18
Last Checked: Aug 23 at 2:06PM
MLS# 20253403
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 flex property includes more than 14,000 SF on nearly 1.5 acres, with approximately 12,000 SF of high-eave shop space and about 2,000 SF of newly constructed second-level offices. Four 14-foot overhead doors serve the shop, which also has 3-phase power. The building is divided into three separate units, providing a multi-tenant configuration while retaining the ability to accommodate a single user. A fenced yard adds outdoor operational space.
The property is located in Rifle Business Park with visibility from I-70 and access near an interstate exit ramp. It is fully leased and reflects a 7% cap rate. Owner-occupancy options are available, including the potential to use part of the building while leasing the remaining units.
The property is located in Rifle Business Park with visibility from I-70 and access near an interstate exit ramp. It is fully leased and reflects a 7% cap rate. Owner-occupancy options are available, including the potential to use part of the building while leasing the remaining units.
Key Highlights
- More than 14,000 SF on nearly 1.5 acres
- Approximately 12,000 SF high‑eave shop with four 14‑foot overhead doors
- About 2,000 SF of new second‑level office space
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
$198,299
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
6.47%
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%
$3,965,980
$4.0M
Cap Rate 7%
$2,832,843
$2.8M
Cap Rate 9%
$2,203,322
$2.2M
Market Conditions
NOI Build-Up for 14,000 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
$307.4K $21.96/SF
− Vacancy
−$43.0K −$3.07/SF
EGI
$264.4K $18.89/SF
− OpEx
−$66.1K −$4.72/SF
NOI
$198.3K $14.16/SF
Area
Garfield County, CO
Vacancy
14.00%
Lease Rate
$21.96 /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%
$3,965,980
Cap Rate 7%
$2,832,843
Cap Rate 9%
$2,203,322
Alternative Uses
Best Use
Office B
$2.83M
$2.48M – $3.30M
NOI $198,299 @ 7.0% cap · market cap 6.47%
Second Best
Flex RnD
$2.00M
$1.75M – $2.33M
NOI $139,868 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$3.67M
$3.21M – $4.28M
NOI $256,650 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 81650, CO
14,336
Population
5,088
Households
2.8
Avg Household Size
34
Median Age
17%
College-Educated
85%
High-School Grad
1,022.7 sq mi
ZIP Area
14
Density / Sq Mi
$81,506
Median Household Income
$41,982
Median Earnings
$1,236
Median Rent
$397,100
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?
Flex space - Newer flex facility combines industrial shop space, second-level offices, secured outdoor yard area, and interstate access.
Where is this flex space located?
The property is located at 1944 Airport Road Rifle, CO.
What is the asking price?
The asking price for this property is $3,067,000.
What are key features of this property?
This property features: More than 14,000 SF on nearly 1.5 acres; Approximately 12,000 SF high‑eave shop with four 14‑foot overhead doors; About 2,000 SF of new second‑level office space
