Downtown Automotive
For Sale
$925,000
220 E Aspen Avenue, Fruita, CO 81521
CommercialSale, Fruita, CO
Property Size4,600 SF
Price / SF$201.09
Days on Market305
Property Features for 220 E Aspen Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
DMU
Directions
Located at the intersection of Aspen Ave and Peach St.
Subdivision
Fruita
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
9310
Listing Agency:
CHESNICK REALTY, LLC
(970) 858-8238
Listed By:
Lori Chesnick · License #EA1320802
(970) 260-0550
Added: Oct 20, 2025
Changed: Aug 20
Last Checked: Aug 20 at 9:06AM
MLS# 20254980
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 4,600-square-foot commercial building is classified as an automotive property and has a history of business occupancy, including Waddell's Market and Kim's Auto Parts.
Located at 220 E Aspen Avenue in downtown Fruita, the property sits next to a City of Fruita parking lot. The building is in Mesa County, Colorado, within the 81521 ZIP code.
Located at 220 E Aspen Avenue in downtown Fruita, the property sits next to a City of Fruita parking lot. The building is in Mesa County, Colorado, within the 81521 ZIP code.
Key Highlights
- 4,600‑square‑foot commercial building
- Automotive property classification
- 220 E Aspen Avenue address in Fruita, CO 81521
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
$43,632
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
4.72%
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%
$872,640
$872.6K
Cap Rate 7%
$623,314
$623.3K
Cap Rate 9%
$484,800
$484.8K
Market Conditions
NOI Build-Up for 4,600 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
$66.2K $14.40/SF
− Vacancy
−$3.9K −$0.85/SF
EGI
$62.3K $13.55/SF
− OpEx
−$18.7K −$4.07/SF
NOI
$43.6K $9.49/SF
Area
Mesa County, CO
Vacancy
5.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$872,640
Cap Rate 7%
$623,314
Cap Rate 9%
$484,800
Alternative Uses
Best Use
Retail
$623.3K
$545.4K – $727.2K
NOI $43,632 @ 7.0% cap · market cap 4.72%
Second Best
Industrial
$506.0K
$442.7K – $590.3K
NOI $35,419 @ 7.0% cap · market cap 3.83%
Theoretical Best
Healthcare Medical
$8.73M
$7.64M – $10.18M
NOI $611,064 @ 7.0% cap · market cap 66.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 81521, CO
16,446
Population
6,531
Households
2.5
Avg Household Size
40
Median Age
32%
College-Educated
94%
High-School Grad
181.6 sq mi
ZIP Area
91
Density / Sq Mi
$82,632
Median Household Income
$41,801
Median Earnings
$1,249
Median Rent
$385,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Railhead Garage — 316 S Mesa St, Fruita, CO 81521
- U-Haul Neighborhood Dealer — 825 US-6 & 50, Fruita, CO 81521
- Walker SMS — 544 E Cleveland Ave, Fruita, CO 81521
Frequently Asked Questions
What type of property is this?
Automotive property - Downtown Fruita building positioned beside a City of Fruita parking lot.
Where is this automotive property located?
The property is located at 220 E Aspen Avenue Fruita, CO.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 4,600‑square‑foot commercial building; Automotive property classification; 220 E Aspen Avenue address in Fruita, CO 81521
