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    Award-Winning Winery and Events Center Title is generated by Realmo AI

    2087 S Broadway, Grand Junction, CO 81507

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    A destination winery with event center, guest rooms, and vineyard.

    Type:Land, Mixed Use
    Property size:
    16,605 SF
    Lot size:
    15.00 Acres
    Price / SF:
    $313/SF
    Added:
    Dec 2, 2021
    Days on Market:
    1647
    Last Refresh:
    May 20 at 12:10 am

    Property Features for 2087 S Broadway

    General Information

    Standard status
    Active
    Size
    16,605 SF
    Lot size
    15.00 Acres
    Property subtype
    Land, Mixed Use

    We can help!

    Listing Contact
    Mike Mercatoris

    Listing agent Mike Mercatoris License #FA100074443

    Listing office COMPASS

    Listing date Dec 2, 2021

    Source Crexi

    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 COMPASS

    HighLights

    • Award‑winning Two Rivers Winery and Events Center with established reputation and revenue streams.
    • Prime location in the heart of Colorado Wine Country, near the Colorado National Monument, Grand Junction, and transportation hubs (I‑70, regional airport).
    • Unique destination winery with 10 upscale guest rooms, the only one in the Grand Valley offering lodging.
    • Extensive facilities including a 13,000 sq ft event center (capacity 200), 3,574 sq ft winery building, 4,034 sq ft barrel storage/bottling building, tasting rooms, and a 3,605 sq ft residence.
    • 15‑acre property with 10 acres of planted vineyards (Baco Noir, La Crescent, Chardonnay) and the ability to purchase additional grapes.
    • Opportunity to establish a full‑service restaurant with the pending "Winery Restaurant License", enhancing property value and revenue potential.

    Overview

    The Two Rivers Winery, an award-winning winery and events center, is located at the base of the Colorado National Monument, near Grand Junction, Colorado. Situated on 15 acres, the property benefits from its location in the Grand Valley, an area known for its agricultural potential. The property includes 10 acres planted with Baco Noir, La Crescent, and Chardonnay hybrids. While quality grapes are produced on-site, the winery also purchases over 160 tons from other growers. The buildings on the property consist of a 13,000-square-foot chateau or event center, a 3,574-square-foot winery building, a 4,034-square-foot barrel storage and bottling line building, various farm and cold storage facilities, and a 3,605-square-foot residence. The winery features two tasting rooms, a chateau event center accommodating up to 200 people, and 10 overnight guest rooms. These facilities host private and public wine tastings and events such as weddings, winemakers’ dinners, and corporate retreats. The owners are in the process of obtaining a “Winery Restaurant License,” which would allow the catering kitchen and facilities to convert to a full-service restaurant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chateau At Two River ... Brewery & Distillery Two Rivers Winery Brewery & Distillery

    Suggested Use

    Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Skin Care Clinic Accounting Firm Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.6631928
    Latitude
    39.090229

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    FAQs

    What type of property is this?
    Vineyard - A destination winery with event center, guest rooms, and vineyard.
    Where is this vineyard located?
    The property is located at 2087 S Broadway Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $5,200,000.
    What are key features of this property?
    This property features: Award‑winning Two Rivers Winery and Events Center with established reputation and revenue streams.; Prime location in the heart of Colorado Wine Country, near the Colorado National Monument, Grand Junction, and transportation hubs (I‑70, regional airport).; Unique destination winery with 10 upscale guest rooms, the only one in the Grand Valley offering lodging.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Mercatoris
    Real Estate License ID: FA100074443
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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