Two-Level Office
For Sale
$695,000
2935 Patterson Road, Grand Junction, CO 81504
CommercialSale, Grand Junction, CO
Property Size5,876 SF
Lot Size0.68 Acres
Price / SF$118.28
Days on Market75
Property Features for 2935 Patterson Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-1
Directions
On Patterson Road between 29 and 29 1/2 roads, south side.
Subdivision
NE Grand Junction
Standard status
Active
Lot size
0.68 Acres
Taxes and HOA fees
Tax Annual Amount
7556
Listing Agency:
COLDWELL BANKER COMMERCIAL PRIME PROPERTIES
(970) 243-7375
Listed By:
Sheri Heath · License #FA100040758
(970) 314-3736
Added: Jun 24
Changed: Sep 5
Last Checked: Sep 6 at 1:06AM
MLS# 20263482
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 5,876-square-foot office building spans main and lower levels on a 0.68-acre lot. The layout includes several large private offices, two bathrooms on the main level, and an ADA-accessible lower level with an additional bathroom and kitchen. The configuration is suited to office, school, professional service, or similar business use.
Located at 2935 Patterson Road in Grand Junction, the property includes a paved parking lot, additional gravel parking at the rear, and monument signage along the road. The two-level arrangement provides distinct areas for departments, teams, or separate occupants while retaining practical support space through the lower-level kitchen and bathroom.
Located at 2935 Patterson Road in Grand Junction, the property includes a paved parking lot, additional gravel parking at the rear, and monument signage along the road. The two-level arrangement provides distinct areas for departments, teams, or separate occupants while retaining practical support space through the lower-level kitchen and bathroom.
Key Highlights
- 5,876 square feet across main and lower levels
- 0.68‑acre lot with room to grow
- ADA‑accessible lower level with kitchen and bathroom
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
$55,528
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
7.99%
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%
$1,110,560
$1.1M
Cap Rate 7%
$793,257
$793.3K
Cap Rate 9%
$616,978
$617.0K
Market Conditions
NOI Build-Up for 5,876 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
$105.8K $18.00/SF
− Vacancy
−$31.7K −$5.40/SF
EGI
$74.0K $12.60/SF
− OpEx
−$18.5K −$3.15/SF
NOI
$55.5K $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%
$1,110,560
Cap Rate 7%
$793,257
Cap Rate 9%
$616,978
Alternative Uses
Best Use
Office B
$793.3K
$694.1K – $925.5K
NOI $55,528 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$11.15M
$9.76M – $13.01M
NOI $780,568 @ 7.0% cap · market cap 112.31%
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
270
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office property with private offices, ADA-accessible lower-level space, and paved and gravel parking areas.
Where is this office building located?
The property is located at 2935 Patterson Road Grand Junction, CO.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 5,876 square feet across main and lower levels; 0.68‑acre lot with room to grow; ADA‑accessible lower level with kitchen and bathroom
