Mixed-Use Property with
For Sale
Contact for pricing
2960 North Ave, Grand Junction, CO 81504
C-2-zoned property combines office, retail, residential, and dry storage improvements along North Avenue.
Property Size4,369 SF
Lot Size0.60 Acres
Price / SF$136.19
Days on Market159
Property Features for 2960 North Ave
General Information
Standard status
Active
Size
4,369 SF
Lot size
0.60 Acres
Property subtype
Mixed Use, Office, Retail, Self Storage
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1963
Buildings
2
Stories
1
Listing Agency:
Bray Real Estate
(970) 986-0446
Listed By:
Brian Bray · License #CO FA40038007
Source:
Crexi
Added: Mar 26
Changed: Aug 30
Last Checked: Aug 30 at 3:30AM
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.
This mixed-use property brings together commercial, residential, and storage improvements on a 0.6-acre C-2-zoned site. The office and retail component contains more than 3,000 SF with an open layout that can accommodate varied configurations. A separate 1,100 SF house includes three bedrooms and one bathroom, while over 6,800 SF of unheated dry storage provides additional functional space.
The property is positioned along North Avenue near the I-70B connection. Surrounding uses include Memorial Gardens, Health & Human Services, the Workforce Center, PrimeHealth+ clinic, and True Value. Built in 1963, the site offers a combination of existing improvements and C-2 land-use designation.
The property is positioned along North Avenue near the I-70B connection. Surrounding uses include Memorial Gardens, Health & Human Services, the Workforce Center, PrimeHealth+ clinic, and True Value. Built in 1963, the site offers a combination of existing improvements and C-2 land-use designation.
Key Highlights
- More than 3,000+ SF of office/retail space with an open floor plan
- 1,100 SF house with 3 bedrooms and 1 bath
- Over 6,800 SF of unheated dry storage
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
$41,441
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
6.96%
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%
$828,820
$828.8K
Cap Rate 7%
$592,014
$592.0K
Cap Rate 9%
$460,456
$460.5K
Market Conditions
NOI Build-Up for 4,369 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
$62.9K $14.40/SF
− Vacancy
−$3.7K −$0.85/SF
EGI
$59.2K $13.55/SF
− OpEx
−$17.8K −$4.07/SF
NOI
$41.4K $9.49/SF
Area
Mesa County, CO
Vacancy
5.90%
Lease Rate
$14.40 /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%
$828,820
Cap Rate 7%
$592,014
Cap Rate 9%
$460,456
Alternative Uses
Best Use
Retail
$592.0K
$518.0K – $690.7K
NOI $41,441 @ 7.0% cap · market cap 6.96%
Second Best
Office B
$589.8K
$516.1K – $688.1K
NOI $41,287 @ 7.0% cap · market cap 6.94%
Theoretical Best
Healthcare Medical
$8.29M
$7.25M – $9.67M
NOI $580,378 @ 7.0% cap · market cap 97.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
418
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?
Mixed-use property - C-2-zoned property combines office, retail, residential, and dry storage improvements along North Avenue.
Where is this mixed-use property located?
The property is located at 2960 North Ave Grand Junction, CO.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: More than 3,000+ SF of office/retail space with an open floor plan; 1,100 SF house with 3 bedrooms and 1 bath; Over 6,800 SF of unheated dry storage
