Office-Warehouse Flex
For Sale
$1,195,000
Pending
806 21 1/2 Road, Grand Junction, CO 81505
CommercialSale, Grand Junction, CO
Property Size6,208 SF
Lot Size2.20 Acres
Days on Market91
Property Features for 806 21 1/2 Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
PUD
Lot features
Irregular Lot
Directions
Off of Hwy 50, turn north on 21 1/2 Road. Property on right side of street.
Subdivision
NW Grand Junction
Standard status
Pending
Lot size
2.20 Acres
Taxes and HOA fees
Tax Annual Amount
15762
Listing Agency:
RE/MAX 4000, INC
(970) 241-4000
Listed By:
Michelle Ritter · License #FA40010778
(970) 261-9817
Added: May 27
Changed: Aug 24
Last Checked: Aug 25 at 8:06PM
MLS# 20262559
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 space at 806 21 1/2 Road comprises 6,208 square feet on 2.20 acres in Grand Junction. The building includes 5,296 square feet of warehouse area and 912 square feet of office space, creating a practical combination for business operations, storage, and distribution. Two overhead doors support vehicle and equipment access.
The property is zoned PUD and located in northwest Grand Junction, with access to major roads and nearby businesses. The building is currently occupied under a lease running through 3/15/2028. Under the existing arrangement, the tenant is responsible for property taxes and all utilities.
The property is zoned PUD and located in northwest Grand Junction, with access to major roads and nearby businesses. The building is currently occupied under a lease running through 3/15/2028. Under the existing arrangement, the tenant is responsible for property taxes and all utilities.
Key Highlights
- 6,208‑square‑foot flex building on 2.20 acres
- 5,296 SF warehouse area paired with 912 SF of office space
- Two overhead doors provide equipment and delivery access
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
$64,771
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
5.42%
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%
$1,295,420
$1.3M
Cap Rate 7%
$925,300
$925.3K
Cap Rate 9%
$719,678
$719.7K
Market Conditions
NOI Build-Up for 6,208 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
$108.0K $17.40/SF
− Vacancy
−$8.4K −$1.35/SF
EGI
$99.6K $16.05/SF
− OpEx
−$34.9K −$5.62/SF
NOI
$64.8K $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%
$1,295,420
Cap Rate 7%
$925,300
Cap Rate 9%
$719,678
Alternative Uses
Best Use
Flex RnD
$925.3K
$809.6K – $1.08M
NOI $64,771 @ 7.0% cap · market cap 5.42%
Second Best
Warehouse
$829.2K
$725.6K – $967.4K
NOI $58,044 @ 7.0% cap · market cap 4.86%
Theoretical Best
Healthcare Medical
$11.78M
$10.31M – $13.74M
NOI $824,671 @ 7.0% cap · market cap 69.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Well-served
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 - Tenant occupancy continues through 2028, with property taxes and utilities paid by the tenant.
Where is this flex space located?
The property is located at 806 21 1/2 Road Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 6,208‑square‑foot flex building on 2.20 acres; 5,296 SF warehouse area paired with 912 SF of office space; Two overhead doors provide equipment and delivery access
