Horizon Drive Office
For Sale
Contact for pricing
2793 Skyline Ct, Grand Junction, CO 81506
Updated office condo near amenities and transportation.
Property Size1,429 SF
Price / SF$262.42
Days on Market184
Property Features for 2793 Skyline Ct
General Information
Standard status
Active
Size
1,429 SF
Class
B
Property subtype
Office, Retail
Zoning
MU-2
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
2006
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Keller Williams Colorado West Realty LLC
(970) 201-0941
Listed By:
Tina Hulihee · License #CO
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Aug 8 at 2:51PM
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 Keller Williams Colorado West Realty LLC
Investment Insights
Based on property information with market context.
This updated office condo is located in a prime location on Horizon Drive, near established professional businesses. The 1429-square-foot space features a welcoming lobby, multiple private offices, a conference room, a kitchenette, and two bathrooms. It is equipped with energy-efficient lighting, fiber internet, and a security system. The property is conveniently located near restaurants, hotels, the airport, and I-70, and is approximately 8 minutes from the hospital. The property is located at the end of the cul-de-sac, accessible from Horizon Drive by taking Horizon Court southeast and turning right onto Skyline Court. There is a tenant in place through August 31, 2026, and the lease is available upon request. Security cameras are installed on and around the property.
Key Highlights
- Prime Horizon Drive location near established professional businesses.
- Tenant in place through August 31, 2026, providing immediate income.
- Updated office condo with multiple private offices and a conference room.
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
$13,504
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
3.60%
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%
$270,080
$270.1K
Cap Rate 7%
$192,914
$192.9K
Cap Rate 9%
$150,044
$150.0K
Market Conditions
NOI Build-Up for 1,429 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
$25.7K $18.00/SF
− Vacancy
−$7.7K −$5.40/SF
EGI
$18.0K $12.60/SF
− OpEx
−$4.5K −$3.15/SF
NOI
$13.5K $9.45/SF
Area
Mesa County, CO
Vacancy
30.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$270,080
Cap Rate 7%
$192,914
Cap Rate 9%
$150,044
Alternative Uses
Best Use
Office B
$192.9K
$168.8K – $225.1K
NOI $13,504 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.71M
$2.37M – $3.16M
NOI $189,828 @ 7.0% cap · market cap 50.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 81506, CO
11,412
Population
5,737
Households
2
Avg Household Size
52
Median Age
43%
College-Educated
95%
High-School Grad
23.9 sq mi
ZIP Area
477
Density / Sq Mi
$76,464
Median Household Income
$40,705
Median Earnings
$1,211
Median Rent
$428,000
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?
Office units - Updated office condo near amenities and transportation.
Where is this office units located?
The property is located at 2793 Skyline Ct Grand Junction, CO.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Prime Horizon Drive location near established professional businesses.; Tenant in place through August 31, 2026, providing immediate income.; Updated office condo with multiple private offices and a conference room.
