Mixed-Use Property With
For Sale
$595,000
2960 North Avenue, Grand Junction, CO 81504
CommercialSale, Grand Junction, CO
Property Size3,000 SF
Lot Size0.60 Acres
Price / SF$198.33
Days on Market157
Property Features for 2960 North Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C-2
Directions
Located on the north side of North Avenue, just west of the I-70B intersection and Memorial Gardens of the Valley and to the south of Mesa County Health & Human Services.
Subdivision
NE Grand Junction
Standard status
Active
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
5687
Listing Agency:
BRAY/COMMERCIAL
(970) 241-2909
Listed By:
Brian Bray · License #FA40038007
(970) 986-0446
Added: Mar 18
Changed: Aug 20
Last Checked: Aug 21 at 10:06PM
MLS# 20261203
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 mixed-use property combines commercial space, a residence, and substantial storage improvements on a 0.6-acre C-2-zoned site. The office and retail component totals 3,000+ SF and features an open layout. A separate 1,100 SF house includes 3 bedrooms and 1 bathroom, while more than 6,800 SF of unheated dry storage provides additional functional space.
The property fronts North Avenue and is positioned near the I-70B connection. Surrounding uses and destinations include Memorial Gardens, Health & Human Services, the Workforce Center, PrimeHealth+ clinic, and True Value. The combination of existing improvements and commercial zoning supports a range of property operations within the current mixed-use configuration.
The property fronts North Avenue and is positioned near the I-70B connection. Surrounding uses and destinations include Memorial Gardens, Health & Human Services, the Workforce Center, PrimeHealth+ clinic, and True Value. The combination of existing improvements and commercial zoning supports a range of property operations within the current mixed-use configuration.
Key Highlights
- 3,000+ SF of open‑plan office and retail space
- 1,100 SF house with 3 bedrooms and 1 bathroom
- 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
$28,456
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
4.78%
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%
$569,120
$569.1K
Cap Rate 7%
$406,514
$406.5K
Cap Rate 9%
$316,178
$316.2K
Market Conditions
NOI Build-Up for 3,000 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
$43.2K $14.40/SF
− Vacancy
−$2.5K −$0.85/SF
EGI
$40.7K $13.55/SF
− OpEx
−$12.2K −$4.07/SF
NOI
$28.5K $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%
$569,120
Cap Rate 7%
$406,514
Cap Rate 9%
$316,178
Alternative Uses
Best Use
Retail
$406.5K
$355.7K – $474.3K
NOI $28,456 @ 7.0% cap · market cap 4.78%
Second Best
Office B
$405.0K
$354.4K – $472.5K
NOI $28,350 @ 7.0% cap · market cap 4.76%
Theoretical Best
Healthcare Medical
$5.69M
$4.98M – $6.64M
NOI $398,520 @ 7.0% cap · market cap 66.98%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, retail, residential, and dry-storage components occupy a C-2-zoned commercial site.
Where is this mixed-use property located?
The property is located at 2960 North Avenue 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: 3,000+ SF of open‑plan office and retail space; 1,100 SF house with 3 bedrooms and 1 bathroom; Over 6,800 SF of unheated dry storage
