Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    679 24 1/2 Rd Grand Junction, CO 81505

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $860,000

    5.28-acre property zoned RH-24, ideal for development projects.

    Type:Land
    Lot size:
    5.28 Acres
    Added:
    Mar 15, 2024
    Days on Market:
    777
    Last Refresh:
    Jan 20 at 9:47 am

    Property Features for 679 24 1/2 Rd

    General Information

    Standard status
    Active
    Lot size
    5.28 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    JALYN VANCONETT
    JALYN VANCONETT

    Listing agent JALYN VANCONETT License #ER100002831

    Listing office Red Rock Real Estate

    Listing date Mar 15, 2024

    Source Exprealty

    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 Red Rock Real Estate

    Overview

    Development Opportunity Near Mesa Mall

    This 5.28-acre property, zoned RH-24, presents a development opportunity. It is located in an area with multi-family and other commercial developments. Sewer access is available on 24 1/2 Rd and along the west property line. A water tap is installed on the property, and gas and electric utilities are present. The property is a flag lot situated within walking distance of Mesa Mall, Community Hospital, banks, retail stores, coffee houses, a movie theatre, and a grocery store. Some demolition work is required. The existing building and shop on the property may offer a potential revenue stream during the development process.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.598
    Latitude
    39.0885

    Nearby Similar for Sale

    • $950,000

      Grand Junction Commercial Land Opportunity

      Prime commercial land with high visibility and strong growth potential.
      945 Dominguez Avenue, Grand Junction, CO 81503
      View Details
    • $599,000
      1,842 SF

      Profitable Liquor Store Opportunity

      Established liquor store for sale in Grand Junction, Colorado.
      715 Horizon Drive, Grand Junction, CO 81506
      View Details
    • $585,000

      Grand Junction Commercial Outparcel For Sale

      0.69-acre commercial outparcel in high-traffic shopping center.
      2550 American Way, Grand Junction, CO 81501
      View Details
    • $850,000

      Grand Junction Commercial Opportunity

      4.33 acres with warehouse, ready for immediate occupancy.
      760 21 1/2 Road, Grand Junction, CO 81505
      View Details
    • $500,000

      Grand Junction Commercial Investment Opportunity

      NNN investment opportunity with long-term tenant in Grand Junction, CO.
      2472 Patterson Road, Grand Junction, CO 81505
      View Details
    • $1,700,000

      Iconic Grand Junction Business Opportunity

      Local landmark business and property for sale in Grand Junction.
      581 29 Road, Grand Junction, CO 81504
      View Details
    • $4,050,000

      Multi-Tenant Office Investment Opportunity

      Well-maintained office property with stable occupancy in Grand Junction, CO.
      700 Belford Avenue, Grand Junction, CO 81501
      View Details
    • $779,900

      Horizon Drive Commercial Development Land

      Commercial land with high visibility, suitable for various development projects.
      697 27 1/2 Court, Grand Junction, CO 81506
      View Details
    • $779,900

      Horizon Drive Commercial Development Land

      Prime commercial land on Horizon Drive, Grand Junction, Colorado.
      697 27 1/2 Court, Grand Junction, CO 81506
      View Details
    • $599,000
      1,842 SF

      Profitable Liquor Store Opportunity

      Established liquor store for sale in Grand Junction, Colorado.
      715 Horizon Drive, Grand Junction, CO 81506
      View Details
    • $875,000

      Multi-Tenant Commercial Building For Sale

      Multi-tenant commercial building in high-visibility location, suitable for various users.
      3198 F Road, Grand Junction, CO 81504
      View Details
    • $779,000
      4,080 SF

      Turnkey Fourplex Investment Opportunity

      Fully remodeled fourplex with immediate cash flow in Grand Junction.
      2698 Milo Drive, Grand Junction, CO 81503
      View Details

    FAQs

    What type of property is this?
    Commercial land - 5.28-acre property zoned RH-24, ideal for development projects.
    Where is this commercial land located?
    The property is located at 679 24 1/2 Rd Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $860,000.
    What are key features of this property?
    This property features: 5.28‑acre property zoned RH‑24, ideal for multi‑family or commercial development.; Located in a high‑growth area near existing multi‑family and commercial developments.; Utilities on property: **Water tap installed, gas and electric available.**
    (970) 986-5722
    We can help!
    Listing Contact
    JALYN VANCONETT
    JALYN VANCONETT
    Real Estate License ID: ER100002831
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!