Retail Asset in Patterson
For Sale
Contact for pricing
2905 Patterson Rd, Grand Junction, CO 81504
Shadow retail asset in Grand Junction's Patterson Marketplace.
Property Size18,000 SF
Lot Size3.14 Acres
Price / SF$93.06
Days on Market175
Property Features for 2905 Patterson Rd
General Information
Standard status
Active
Size
18,000 SF
Total Parking Spaces
93
Lot size
3.14 Acres
Property subtype
Retail
Zoning
PD
Occupancy
91%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$121,301
Building Details
Year Built
2000
Buildings
2
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Transworld Commercial Real Estate
(720) 729-0551
Listed By:
Jason Startari · License #FA. 100092989 (CO)
Source:
Crexi
Added: Mar 2
Changed: Aug 23
Last Checked: Aug 22 at 3:31PM
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 Transworld Commercial Real Estate
Investment Insights
Based on property information with market context.
This shadow retail asset comprises two noncontiguous parcels situated within the Safeway-anchored Patterson Marketplace neighborhood shopping center in Grand Junction, Colorado. The total rentable square footage is 18,000, with each parcel accounting for 9,000 square feet, positioned on 3.14 acres. The property is fully leased, with one tenant, LV Nails, currently finalizing an interior buildout. The gross rental income for 2025 was $224,711, resulting in a net operating income of $121,301 and a current cap rate of 6.2%. The low weighted average lease term of 4.9 years presents an opportunity for the buyer to increase below-market rents and NNN recapture. The proforma NOI is projected at $221,000, reflecting an 11% cap. The property is subject to a long-term ground lease structure. The original term commenced in 2000 and ended in 2016. The tenant is currently in its second of ten, 5-year renewal options, potentially extending the lease to 2066. Financial details are available upon request.
Key Highlights
- 100% leased property within the Safeway‑anchored Patterson Marketplace shopping center.
- Upside opportunity to increase below‑market rents and NNN recapture due to low WALT (4.9 years).
- Proforma NOI of $221,000 representing an 11% cap rate.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 81504, CO
31,150
Population
13,042
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
91%
High-School Grad
26.9 sq mi
ZIP Area
1,158
Density / Sq Mi
$67,907
Median Household Income
$40,402
Median Earnings
$1,414
Median Rent
$290,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Retail space - Shadow retail asset in Grand Junction's Patterson Marketplace.
Where is this retail space located?
The property is located at 2905 Patterson Rd Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: 100% leased property within the Safeway‑anchored Patterson Marketplace shopping center.; Upside opportunity to increase below‑market rents and NNN recapture due to low WALT (4.9 years).; Proforma NOI of $221,000 representing an 11% cap rate.
