Commercial Kitchen
For Sale
$1,150,000
2853 North Ave, Grand Junction, CO 81501
Built in 2001, the facility combines a full commercial kitchen with dining, office, and flexible room areas.
Property Size8,869 SF
Lot Size0.91 Acres
Price / SF$129.67
Days on Market15
Property Features for 2853 North Ave
General Information
Standard status
Active
Size
8,869 SF
Lot size
0.91 Acres
Additional Details
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$4,713
Building Details
Year Built
2001
Buildings
1
Listing Agency:
BRAY/COMMERCIAL
(970) 201-3578
Listed By:
ANDREA HAITZ
(970) 201-3578
Source:
Exprealty
Added: Aug 5
Changed: Aug 16
Last Checked: Aug 18 at 11:46AM
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 BRAY/COMMERCIAL
Investment Insights
Based on property information with market context.
This 8,869-square-foot commercial kitchen facility occupies 0.91 acres and was built in 2001. Interior improvements include a full commercial kitchen with preparation and storage areas, a large open dining and gathering hall, a reception and lobby area, multiple private offices, ADA restrooms, and additional open rooms that can support varied operational layouts.
The property is located at 2853 North Ave in Grand Junction, Colorado, with visibility and access from North Avenue. Ample on-site parking serves the building. Its existing kitchen, dining, office, and flexible-room configuration provides a substantial commercial framework for restaurant, commissary, shared-kitchen, organizational, or community-oriented uses, subject to verification of permitted uses.
The property is located at 2853 North Ave in Grand Junction, Colorado, with visibility and access from North Avenue. Ample on-site parking serves the building. Its existing kitchen, dining, office, and flexible-room configuration provides a substantial commercial framework for restaurant, commissary, shared-kitchen, organizational, or community-oriented uses, subject to verification of permitted uses.
Key Highlights
- 8, 869 SF commercial building on 0.91 acres
- Full commercial kitchen with prep and storage areas
- Large open dining and gathering hall
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
$68,290
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
5.94%
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%
$1,365,800
$1.4M
Cap Rate 7%
$975,571
$975.6K
Cap Rate 9%
$758,778
$758.8K
Market Conditions
NOI Build-Up for 8,869 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
$103.2K $11.64/SF
− Vacancy
−$5.7K −$0.64/SF
EGI
$97.6K $11.00/SF
− OpEx
−$29.3K −$3.30/SF
NOI
$68.3K $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%
$1,365,800
Cap Rate 7%
$975,571
Cap Rate 9%
$758,778
Alternative Uses
Best Use
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,334 @ 7.0% cap · market cap 11.33%
Second Best
Industrial
$975.6K
$853.6K – $1.14M
NOI $68,290 @ 7.0% cap · market cap 5.94%
Theoretical Best
Healthcare Medical
$16.83M
$14.73M – $19.64M
NOI $1,178,158 @ 7.0% cap · market cap 102.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
744
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Built in 2001, the facility combines a full commercial kitchen with dining, office, and flexible room areas.
Where is this commercial kitchen located?
The property is located at 2853 North Ave Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 8, 869 SF commercial building on 0.91 acres; Full commercial kitchen with prep and storage areas; Large open dining and gathering hall
