Triplex with Mixed-Use
New
For Sale
$515,000
215 S 11th Street, Grand Junction, CO 81501
Residential, Grand Junction, CO
Property Size2,720 SF
Lot Size0.14 Acres
Price / SF$189.34
Days on Market1
Property Features for 215 S 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
MU-1
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 1, Basement, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 5
Patio and Porch features
Patio
Interior features
CeilingFans, LaminateCounters, WalkInShower
Appliances
ElectricOven, ElectricRange, GasOven, GasRange, Refrigerator
Lot features
Corner Lot, Landscaped
Elementary school
Chipeta
Middle school
West
High school
Grand Junction
Directions
From I-70BL W: Turn right (North) onto S 11th St. Property will be on the left.
Subdivision
Grand Junction City
Standard status
Active
APN
2945-144-26-008
Size
2,720 SF
Lot size
0.14 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5090
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1910
Floors in Building
1
Number of units
3
Flooring type
Carpet, Vinyl, Concrete, Wood
Building materials
WoodSiding, WoodFrame
Roof type
Composition, Asphalt
Architectural style
Ranch
Buildings
2
Listing Agency:
NEXTHOME GRAND
Listed By:
Nathalie Ames
(970) 314-3920
Added: Oct 27
Last Checked: Oct 27 at 4:06PM
MLS# 20265267
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.
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Investment Insights
Based on property information with market context.
This three-unit property combines a duplex with a separate residence on a 0.14-acre corner parcel. The building totals 2,720 square feet and dates to 1910. Unit A has one bedroom, one bathroom, and a finished basement; Unit B has two bedrooms, one bathroom, and a partially finished basement. The detached Unit C contains approximately 1,130 square feet, with one bedroom, one bathroom, and a fenced patio.
All three units are currently rented through summer 2027. They are in residential use, while MU-1 zoning has previously accommodated commercial use in the standalone unit. The property is in downtown Grand Junction, less than a mile from Colorado Mesa University and a few blocks from Main Street.
All three units are currently rented through summer 2027. They are in residential use, while MU-1 zoning has previously accommodated commercial use in the standalone unit. The property is in downtown Grand Junction, less than a mile from Colorado Mesa University and a few blocks from Main Street.
Key Highlights
- Three units: a duplex and a separate residence
- 2,720 square feet on a 0.14‑acre corner lot
- All three units rented through summer 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,052
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,040
$541.0K
Cap Rate 7%
$386,457
$386.5K
Cap Rate 9%
$300,578
$300.6K
Market Conditions
NOI Build-Up for 2,720 SF
Gross rent
$41.8K $15.36/SF
− Vacancy
−$3.1K −$1.15/SF
EGI
$38.6K $14.21/SF
− OpEx
−$11.6K −$4.26/SF
NOI
$27.1K $9.95/SF
Area
Mesa County, CO
Vacancy
7.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,040
Cap Rate 7%
$386,457
Cap Rate 9%
$300,578
Alternative Uses
Best Use
Multifamily LT 5
$386.5K
$338.2K – $450.9K
NOI $27,052 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$354.9K
$310.5K – $414.0K
NOI $24,841 @ 7.0% cap · market cap 4.82%
Theoretical Best
Healthcare Medical
$5.16M
$4.52M – $6.02M
NOI $361,325 @ 7.0% cap · market cap 70.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - The three residences are leased through summer 2027, with MU-1 zoning that has also supported commercial use of one unit.
Where is this triplex located?
The property is located at 215 S 11th Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Three units: a duplex and a separate residence; 2,720 square feet on a 0.14‑acre corner lot; All three units rented through summer 2027
