Two-Story Mixed-Use
New
For Sale
$2,500,000
2829 North Avenue, Grand Junction, CO 81501
CommercialSale, Grand Junction, CO
Property Size29,340 SF
Lot Size1.52 Acres
Price / SF$85.21
Days on Market1
Property Features for 2829 North Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-2
Directions
North Avenue and 28 1/4 Rd
Subdivision
Grand Junction City
Standard status
Active
Lot size
1.52 Acres
Taxes and HOA fees
Tax Annual Amount
20908
Amenities
central atrium
indoor plants
waiting area
glass windows
pole signage
Listing Agency:
S.U.R.E., LLC
(970) 300-5857
Listed By:
Katie Davis · License #FA.100094662
(970) 778-5083
Added: Aug 31
Last Checked: Aug 31 at 7:06PM
MLS# 20264366
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 two-story mixed-use property contains 29,340 square feet of professional office and retail space on a 1.52-acre parcel. The interior is organized around a central atrium with natural light, indoor plantings, a waiting area, and broad glass windows. An elevator provides access between levels, while men's and women's restrooms are located on both floors. The building is ADA compliant.
Located at 2829 North Avenue in Grand Junction, the property sits directly off the North Avenue corridor and includes pole signage along the major thoroughfare. Front and rear parking areas serve clients and staff. The MU-2 mixed-use zoning supports office and retail functions, and the existing tenant mix includes wellness, mental health, and specialty service businesses.
Located at 2829 North Avenue in Grand Junction, the property sits directly off the North Avenue corridor and includes pole signage along the major thoroughfare. Front and rear parking areas serve clients and staff. The MU-2 mixed-use zoning supports office and retail functions, and the existing tenant mix includes wellness, mental health, and specialty service businesses.
Key Highlights
- 29,340 SF two‑story office and retail center
- 1.52‑acre parcel with MU‑2 mixed‑use zoning
- Central atrium with natural light, indoor plants, waiting area, and wide glass windows
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
$131,947
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
5.28%
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%
$2,638,940
$2.6M
Cap Rate 7%
$1,884,957
$1.9M
Cap Rate 9%
$1,466,078
$1.5M
Market Conditions
NOI Build-Up for 29,340 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
$228.9K $7.80/SF
− Vacancy
−$17.7K −$0.60/SF
EGI
$211.1K $7.20/SF
− OpEx
−$79.2K −$2.70/SF
NOI
$131.9K $4.50/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
37.50%
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%
$2,638,940
Cap Rate 7%
$1,884,957
Cap Rate 9%
$1,466,078
Alternative Uses
Best Use
Retail
$3.98M
$3.48M – $4.64M
NOI $278,298 @ 7.0% cap · market cap 11.13%
Second Best
Office B
$3.96M
$3.47M – $4.62M
NOI $277,263 @ 7.0% cap · market cap 11.09%
Theoretical Best
Healthcare Medical
$55.68M
$48.72M – $64.96M
NOI $3,897,526 @ 7.0% cap · market cap 155.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 81501, CO
23,935
Population
11,524
Households
2.1
Avg Household Size
33
Median Age
27%
College-Educated
90%
High-School Grad
8.7 sq mi
ZIP Area
2,751
Density / Sq Mi
$48,500
Median Household Income
$32,160
Median Earnings
$974
Median Rent
$283,300
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?
Mixed-use property - Two-level center combines professional office and retail space with elevator access and parking.
Where is this mixed-use property located?
The property is located at 2829 North Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 29,340 SF two‑story office and retail center; 1.52‑acre parcel with MU‑2 mixed‑use zoning; Central atrium with natural light, indoor plants, waiting area, and wide glass windows
