Commercial Kitchen Facility with Dining
For Sale
$1,150,000
2853 North Avenue, Grand Junction, CO 81501
COMMERCIAL - Grand Junction, CO
Property Size8,869 SF
Lot Size0.91 Acres
Price / SF$129.67
Days on Market15
Property Features for 2853 North Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-2
Directions
East on North Ave, between 28 1/2 Rd and 29 Rd, on the South side of North Ave.
Subdivision
Grand Junction City
Standard status
Active
Lot size
0.91 Acres
Taxes and HOA fees
Tax Annual Amount
4714
Listing Agency:
BRAY/COMMERCIAL
(970) 241-2909
Listed By:
Andrea Haitz
(970) 201-3578
Added: Aug 5
Changed: Aug 18
Last Checked: Aug 19 at 5:06AM
MLS# 20263862
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 8,869-square-foot commercial kitchen facility occupies 0.91 acres and was built in 2001. The interior includes a full kitchen with dedicated preparation and storage areas, a large open dining and gathering hall, reception and lobby space, multiple private offices, ADA restrooms, and additional open rooms. The existing layout supports restaurant, commissary, or shared-kitchen operations, as well as community-oriented and service uses identified for the property.
The building is positioned on North Avenue in Grand Junction, with easy access and strong visibility from the corridor. Ample on-site parking serves the facility. Its combination of food-service infrastructure, office areas, gathering space, and flexible rooms provides a broad functional base for continued operation or repositioning, subject to verification of permitted uses.
The building is positioned on North Avenue in Grand Junction, with easy access and strong visibility from the corridor. Ample on-site parking serves the facility. Its combination of food-service infrastructure, office areas, gathering space, and flexible rooms provides a broad functional base for continued operation or repositioning, subject to verification of permitted uses.
Key Highlights
- 8,869 SF commercial building on 0.91 acres
- Built in 2001
- Full commercial kitchen with prep and storage areas
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
Lease Details
Yes
Paved road access
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 - Configured with prep, storage, offices, private rooms, and ADA restrooms for flexible commercial use.
Where is this commercial kitchen located?
The property is located at 2853 North Avenue 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; Built in 2001; Full commercial kitchen with prep and storage areas
