Industrial Flex Space with Multiple
For Sale
$1,500,000
2494 Industrial Boulevard, Grand Junction, CO 81505
Warehouse configuration includes office areas, overhead doors, fire sprinklers, and three-phase power.
Property Size16,999 SF
Price / SF$88.24
Days on Market3053
Property Features for 2494 Industrial Boulevard
General Information
Standard status
Active
Size
16,999 SF
Property subtype
Mixed Use
Warehouse & Industrial
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Opportunity Zone
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$17,856
Amenities
3
Commercial
Parking.
Off Street.
140 x 300, .5-.99
Building Details
Year Built
1973
Stories
2
Listing Agency:
Coldwell Banker Commercial Prime Properties LLC
(970) 244-6602
Listed By:
Michael Foster · License #IA40011873
Source:
Xome
Added: Apr 22, 2018
Changed: Aug 29
Last Checked: Aug 29 at 10:34PM
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 16,999-square-foot flex property is arranged with four primary bays and nine offices, providing a combination of industrial work areas and administrative space. The building includes fire sprinkler protection, 14-foot and 16-foot overhead doors, and three-phase power. A 5-ton bridge crane is available separately for operations that require lifting capability.
Built in 1973, the property sits along the 25 Road corridor and includes off-street parking. Its Federal Opportunity Zone designation adds a defined element to the property’s location profile.
Built in 1973, the property sits along the 25 Road corridor and includes off-street parking. Its Federal Opportunity Zone designation adds a defined element to the property’s location profile.
Key Highlights
- 16,999‑square‑foot flex property with four main bays and nine offices
- 14‑foot and 16‑foot overhead doors
- Fire sprinkler system and three‑phase power
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
$130,890
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
8.73%
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%
$2,617,800
$2.6M
Cap Rate 7%
$1,869,857
$1.9M
Cap Rate 9%
$1,454,333
$1.5M
Market Conditions
NOI Build-Up for 16,999 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
$197.9K $11.64/SF
− Vacancy
−$10.9K −$0.64/SF
EGI
$187.0K $11.00/SF
− OpEx
−$56.1K −$3.30/SF
NOI
$130.9K $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%
$2,617,800
Cap Rate 7%
$1,869,857
Cap Rate 9%
$1,454,333
Alternative Uses
Best Use
Flex RnD
$2.53M
$2.22M – $2.96M
NOI $177,359 @ 7.0% cap · market cap 11.82%
Second Best
Office B
$2.29M
$2.01M – $2.68M
NOI $160,641 @ 7.0% cap · market cap 10.71%
Theoretical Best
Healthcare Medical
$32.26M
$28.23M – $37.64M
NOI $2,258,147 @ 7.0% cap · market cap 150.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,668
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 - Warehouse configuration includes office areas, overhead doors, fire sprinklers, and three-phase power.
Where is this flex space located?
The property is located at 2494 Industrial Boulevard Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 16,999‑square‑foot flex property with four main bays and nine offices; 14‑foot and 16‑foot overhead doors; Fire sprinkler system and three‑phase power
