Flex Space with Office and
For Sale
$189,900
2477 Commerce Boulevard, Grand Junction, CO 81505
CommercialSale, Grand Junction, CO
Property Size1,872 SF
Price / SF$101.44
Days on Market145
Property Features for 2477 Commerce Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CG
Directions
From 25 Road and Patterson Road head South on 25 Road, East on Commerce Blvd to property. Appointment required. Active security system in place.
Subdivision
Grand Junction City
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
3300
Listing Agency:
RE/MAX 4000, INC
(970) 241-4000
Listed By:
Brandon Palmer · License #FA100044031
(970) 712-6868
Added: Apr 3
Changed: Aug 24
Last Checked: Aug 25 at 8:06PM
MLS# 20263565
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 multi-unit flex property includes several distinct configurations. Unit B is leased and finished as open retail space, while the tenant may relocate subject to the buyer’s preference. Unit A is an end unit with a reception area, six offices, substantial storage, a bathroom, and a patio. Units C and D are combined as warehouse-only space measuring 48 feet by 39 feet, with 220 service and two 10-foot overhead doors.
Units A, C, and D are available, and the property provides 12+ off-street parking spaces. The site is located at 2477 Commerce Boulevard in Grand Junction, Colorado. An owner-carry option is available; details can be obtained from the listing agent.
Units A, C, and D are available, and the property provides 12+ off-street parking spaces. The site is located at 2477 Commerce Boulevard in Grand Junction, Colorado. An owner-carry option is available; details can be obtained from the listing agent.
Key Highlights
- Multiple unit configurations include retail, office, and warehouse space
- Unit A features a reception area, 6 offices, storage, bathroom, and patio
- Combined Units C and D provide 48' x 39' of warehouse space
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
$14,414
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
7.59%
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%
$288,280
$288.3K
Cap Rate 7%
$205,914
$205.9K
Cap Rate 9%
$160,156
$160.2K
Market Conditions
NOI Build-Up for 1,872 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
$21.8K $11.64/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$20.6K $11.00/SF
− OpEx
−$6.2K −$3.30/SF
NOI
$14.4K $7.70/SF
Area
Mesa County, CO
Vacancy
5.50%
Lease Rate
$11.64 /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%
$288,280
Cap Rate 7%
$205,914
Cap Rate 9%
$160,156
Alternative Uses
Best Use
Flex RnD
$279.0K
$244.1K – $325.5K
NOI $19,531 @ 7.0% cap · market cap 10.28%
Second Best
Retail
$253.7K
$222.0K – $295.9K
NOI $17,756 @ 7.0% cap · market cap 9.35%
Theoretical Best
Healthcare Medical
$3.55M
$3.11M – $4.14M
NOI $248,676 @ 7.0% cap · market cap 130.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81505, CO
11,791
Population
5,379
Households
2.2
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
72.1 sq mi
ZIP Area
164
Density / Sq Mi
$87,677
Median Household Income
$46,560
Median Earnings
$1,424
Median Rent
$436,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-unit commercial property combines finished retail, office improvements, and warehouse space with off-street parking.
Where is this flex space located?
The property is located at 2477 Commerce Boulevard Grand Junction, CO.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Multiple unit configurations include retail, office, and warehouse space; Unit A features a reception area, 6 offices, storage, bathroom, and patio; Combined Units C and D provide 48' x 39' of warehouse space
