Flex Office and
For Sale
$189,000
2477 Commerce, Grand Junction, CO 81505
Front office includes a kitchenette and restroom, plus a separate warehouse with a 10' overhead door.
Property Size961 SF
Price / SF$196.67
Days on Market108
Property Features for 2477 Commerce
General Information
Standard status
Active
Size
961 SF
Property subtype
Office
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$3,357
Amenities
3
25 x 40, Less than 1/2
Building Details
Year Built
1999
Listing Agency:
Coldwell Banker Commercial Prime Properties LLC
(970) 244-6602
Listed By:
Michael Foster · License #IA40011873
Source:
Xome
Added: May 10
Changed: Aug 24
Last Checked: Aug 25 at 6:08AM
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 Coldwell Banker Commercial Prime Properties LLC
Investment Insights
Based on property information with market context.
This flex-style property features a front office area with back kitchenette and restroom. The office portion is paired with a separate warehouse space designed for loading through a 10' overhead door.
The layout supports both administrative work and warehouse operations within the same overall offering, with the office and utility areas located at the front and the warehouse access provided by the overhead door.
As presented, the key improvements include the front office, kitchenette and restroom, and the adjacent separate warehouse component with dedicated overhead door access.
The layout supports both administrative work and warehouse operations within the same overall offering, with the office and utility areas located at the front and the warehouse access provided by the overhead door.
As presented, the key improvements include the front office, kitchenette and restroom, and the adjacent separate warehouse component with dedicated overhead door access.
Key Highlights
- Built in 1999
- Includes a front office area with a kitchenette and restroom
- Separate warehouse includes a 10' overhead (OH) door
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
$10,027
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
5.31%
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%
$200,540
$200.5K
Cap Rate 7%
$143,243
$143.2K
Cap Rate 9%
$111,411
$111.4K
Market Conditions
NOI Build-Up for 961 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
$16.7K $17.40/SF
− Vacancy
−$1.3K −$1.35/SF
EGI
$15.4K $16.05/SF
− OpEx
−$5.4K −$5.62/SF
NOI
$10.0K $10.43/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
35.00%
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%
$200,540
Cap Rate 7%
$143,243
Cap Rate 9%
$111,411
Alternative Uses
Best Use
Flex RnD
$143.2K
$125.3K – $167.1K
NOI $10,027 @ 7.0% cap · market cap 5.31%
Second Best
Office B
$129.7K
$113.5K – $151.4K
NOI $9,081 @ 7.0% cap · market cap 4.80%
Theoretical Best
Healthcare Medical
$1.82M
$1.60M – $2.13M
NOI $127,659 @ 7.0% cap · market cap 67.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Practical Smokers BBQ, Catering, and more... — 596 N Commercial Dr, Grand Junction, CO 81505
- Alarado Biscuit Company — W We are outside at food court entrance between Dillards and Dick’s Sporting Goods, 2422 US-6, Grand
Frequently Asked Questions
What type of property is this?
Flex space - Front office includes a kitchenette and restroom, plus a separate warehouse with a 10' overhead door.
Where is this flex space located?
The property is located at 2477 Commerce Grand Junction, CO.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Built in 1999; Includes a front office area with a kitchenette and restroom; Separate warehouse includes a 10' overhead (OH) door
