Triplex with Mixed-Use
New
For Sale
$515,000
215 South 11th Street, Grand Junction, CO 81501
Grand Junction, CO
Property Size2,720 SF
Lot Size0.14 Acres
Price / SF$189.34
Days on Market2
Property Features for 215 South 11th Street
General Information
Property type
Residential
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 3, Bedroom 1
Standard status
Active
Size
2,720 SF
Lot size
0.14 Acres
Additional Details
Tenant in Place
Yes
Building Details
Year built
1910
Listing Agency:
NextHome Grand
Listed By:
Nathalie Ames
(970) 314-3920
Added: Oct 27
Last Checked: Oct 28 at 2:06AM
MLS# 20265267
Copyright © 2026 NextHome, Inc. 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 2,720-square-foot triplex on a 0.14-acre corner parcel comprises a duplex and a separate third unit. Unit A has one bedroom, one bathroom, and a finished basement; Unit B has two bedrooms, one bathroom, and a partially finished basement. The standalone Unit C contains approximately 1,130 square feet, with one bedroom, one bathroom, and a fenced patio. The property was built in 1910 and is zoned MU-1.
All three units are occupied under leases running through Summer 2027. The units are currently used as residences, while the standalone space has previously accommodated a commercial business. The property is less than a mile from Colorado Mesa University and a few blocks from Main Street in Grand Junction.
All three units are occupied under leases running through Summer 2027. The units are currently used as residences, while the standalone space has previously accommodated a commercial business. The property is less than a mile from Colorado Mesa University and a few blocks from Main Street in Grand Junction.
Key Highlights
- Three units: a duplex and a separate standalone dwelling
- All units rented through Summer 2027
- 2,720 square feet of building area on 0.14 acres
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
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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 - A duplex and separate dwelling combine residential layouts with zoning that has also supported commercial occupancy.
Where is this triplex located?
The property is located at 215 South 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 standalone dwelling; All units rented through Summer 2027; 2,720 square feet of building area on 0.14 acres
