Updated Multifamily
For Sale
$390,000
2430 Bunting Avenue, Grand Junction, CO 81501
Multifamily asset with upgraded systems and individual mini-split units.
Property Size1,688 SF
Price / SF$231.04
Days on Market21
Property Features for 2430 Bunting Avenue
General Information
Standard status
Active
Size
1,688 SF
Property subtype
Multi-Family
Building Details
Year Built
1983
Listing Agency:
RONIN REAL ESTATE PROFESSIONALS ERA POWERED
(970) 201-0257
Listed By:
Thomas Barkoczy · License #668
Source:
Buygrandjunctionco
Added: Aug 11
Changed: Aug 28
Last Checked: Aug 30 at 1:30PM
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 RONIN REAL ESTATE PROFESSIONALS ERA POWERED
Investment Insights
Based on property information with market context.
This multifamily property in Grand Junction, Colorado, contains 1,688 square feet and was built in 1983. The asset has received multiple upgrades, including new mini-split systems serving each unit.
The main sewer line has also been replaced, adding a significant system improvement to the property. The address is 2430 Bunting Avenue, Grand Junction, CO 81501.
The main sewer line has also been replaced, adding a significant system improvement to the property. The address is 2430 Bunting Avenue, Grand Junction, CO 81501.
Key Highlights
- 1,688‑square‑foot multifamily property in Grand Junction, CO
- Built in 1983
- New mini‑split systems installed in each unit
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
$15,416
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
3.95%
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%
$308,320
$308.3K
Cap Rate 7%
$220,229
$220.2K
Cap Rate 9%
$171,289
$171.3K
Market Conditions
NOI Build-Up for 1,688 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
$30.4K $18.00/SF
− Vacancy
−$2.4K −$1.40/SF
EGI
$28.0K $16.61/SF
− OpEx
−$12.6K −$7.47/SF
NOI
$15.4K $9.13/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$308,320
Cap Rate 7%
$220,229
Cap Rate 9%
$171,289
Alternative Uses
Best Use
Apartment 5plus
$220.2K
$192.7K – $256.9K
NOI $15,416 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.20M
$2.80M – $3.74M
NOI $224,234 @ 7.0% cap · market cap 57.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
817
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset with upgraded systems and individual mini-split units.
Where is this multifamily property located?
The property is located at 2430 Bunting Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 1,688‑square‑foot multifamily property in Grand Junction, CO; Built in 1983; New mini‑split systems installed in each unit
