Retail Space with Office
For Sale
$399,000
2478 Patterson Road, Grand Junction, CO 81505
CommercialSale, Grand Junction, CO
Property Size1,600 SF
Price / SF$249.38
Days on Market432
Property Features for 2478 Patterson Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B-2
Directions
Head west on Patterson property between 24 1/2 rd and 25 Rd.
Subdivision
North Grand Junction
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
5729
Amenities
well-maintained business park
excellent accessibility
ample parking
professional setting
Listing Agency:
VENTURE GROUP
(970) 892-2200
Listed By:
Becca Posner · License #FA100069180
(970) 424-2281
Added: Jun 26, 2025
Changed: Aug 30
Last Checked: Aug 31 at 5:06PM
MLS# 20253022
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 1,600-square-foot retail property is positioned within a business park at 2478 Patterson Road in Grand Junction. The space is identified for retail use and is also suited to office operations, providing flexibility for a commercial occupant.
The property sits just off Patterson Road and is surrounded by established businesses. On-site parking and the business-park setting support convenient access for customers, staff, and visitors.
The property sits just off Patterson Road and is surrounded by established businesses. On-site parking and the business-park setting support convenient access for customers, staff, and visitors.
Key Highlights
- 1,600 square feet of commercial retail space
- Office use is supported in addition to the retail classification
- Located in a business park just off Patterson Road
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
$15,176
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
3.80%
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%
$303,520
$303.5K
Cap Rate 7%
$216,800
$216.8K
Cap Rate 9%
$168,622
$168.6K
Market Conditions
NOI Build-Up for 1,600 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
$23.0K $14.40/SF
− Vacancy
−$1.4K −$0.85/SF
EGI
$21.7K $13.55/SF
− OpEx
−$6.5K −$4.07/SF
NOI
$15.2K $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%
$303,520
Cap Rate 7%
$216,800
Cap Rate 9%
$168,622
Alternative Uses
Best Use
Retail
$216.8K
$189.7K – $252.9K
NOI $15,176 @ 7.0% cap · market cap 3.80%
Second Best
Office B
$216.0K
$189.0K – $252.0K
NOI $15,120 @ 7.0% cap · market cap 3.79%
Theoretical Best
Healthcare Medical
$3.04M
$2.66M – $3.54M
NOI $212,544 @ 7.0% cap · market cap 53.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,565
Businesses Nearby
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?
Retail space - Commercial space in a business park near Patterson Road with parking and established neighboring businesses.
Where is this retail space located?
The property is located at 2478 Patterson Road Grand Junction, CO.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,600 square feet of commercial retail space; Office use is supported in addition to the retail classification; Located in a business park just off Patterson Road
