Multi-Tenant Flex and Shop
For Sale
Contact for pricing
2940 I-70 Business Loop, Grand Junction, CO 81504
Masonry flex and shop building with five units and 10 overhead doors, with two suites currently available.
Property Size9,000 SF
Lot Size0.60 Acres
Price / SF$165
Days on Market62
Property Features for 2940 I-70 Business Loop
General Information
Standard status
Active
Size
9,000 SF
Class
B
Lot size
0.60 Acres
Property subtype
Office, Industrial
Zoning
C-2
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$105,018
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1976
Buildings
1
Units
5
Tenancy
Multi
Construction
masonry
Listing Agency:
Bray Real Estate
Listed By:
Brian Bray · License #CO FA40038007
(970) 986-0446
Source:
Crexi
Added: Jul 9
Changed: Sep 5
Last Checked: Sep 7 at 5:17AM
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 Real Estate
Investment Insights
Based on property information with market context.
Constructed of durable masonry in 1976, this multi-tenant flex and shop property totals five office, flex, and shop units. The building includes 10’ overhead doors across the unit mix and offers two spaces currently available: a 2,800 SF office suite (Unit #1A) and a 1,000 SF shop (Unit #4). The remaining units are occupied by long-term tenants under NNN leases, supporting a live-and-earn owner-user setup.
The property is located along the I-70B frontage road, providing visibility from I-70B. Convenient access is provided to 29 Road and North Avenue, and the site includes ample paved parking.
With C-2 zoning allowing for a wide variety of commercial and light industrial uses, the available office and shop units provide flexibility for an owner-occupant while preserving income from existing tenants.
The property is located along the I-70B frontage road, providing visibility from I-70B. Convenient access is provided to 29 Road and North Avenue, and the site includes ample paved parking.
With C-2 zoning allowing for a wide variety of commercial and light industrial uses, the available office and shop units provide flexibility for an owner-occupant while preserving income from existing tenants.
Key Highlights
- 9,000 SF masonry multi‑tenant commercial building on 0.60 acres (built 1976) with five office/flex/shop units
- C‑2 zoning allows for a wide variety of commercial and light industrial uses
- Includes 10’ overhead doors across flex/shop units, with Unit #1A (2,800 SF office) and Unit #4 (1,000 SF shop) currently available
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
$93,901
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
6.32%
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%
$1,878,020
$1.9M
Cap Rate 7%
$1,341,443
$1.3M
Cap Rate 9%
$1,043,344
$1.0M
Market Conditions
NOI Build-Up for 9,000 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
$156.6K $17.40/SF
− Vacancy
−$12.1K −$1.35/SF
EGI
$144.5K $16.05/SF
− OpEx
−$50.6K −$5.62/SF
NOI
$93.9K $10.43/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
35.00%
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%
$1,878,020
Cap Rate 7%
$1,341,443
Cap Rate 9%
$1,043,344
Alternative Uses
Best Use
Flex RnD
$1.34M
$1.17M – $1.57M
NOI $93,901 @ 7.0% cap · market cap 6.32%
Second Best
Office B
$1.22M
$1.06M – $1.42M
NOI $85,050 @ 7.0% cap · market cap 5.73%
Theoretical Best
Healthcare Medical
$17.08M
$14.94M – $19.93M
NOI $1,195,560 @ 7.0% cap · market cap 80.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Masonry flex and shop building with five units and 10 overhead doors, with two suites currently available.
Where is this flex space located?
The property is located at 2940 I-70 Business Loop Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: 9,000 SF masonry multi‑tenant commercial building on 0.60 acres (built 1976) with five office/flex/shop units; C‑2 zoning allows for a wide variety of commercial and light industrial uses; Includes 10’ overhead doors across flex/shop units, with Unit #1A (2,800 SF office) and Unit #4 (1,000 SF shop) currently available
