Multi-Office Condominium
For Sale
$499,999
300 Main Street Unit 302, Grand Junction, CO 81501
The downtown corner suite includes elevator access, shared restrooms, and a private rear entrance.
Property Size2,501 SF
Price / SF$199.92
Days on Market83
Property Features for 300 Main Street Unit 302
General Information
Standard status
Active
Size
2,501 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$6,543
Amenities
restrooms
private backdoor access
Listing Agency:
BRAY/COMMERCIAL
Listed By:
BRIAN BRAY · License #FA40038007
(970) 986-0446
Source:
Thevangundygroup
Added: Aug 12
Changed: Nov 1
Last Checked: Nov 1 at 3:13PM
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/COMMERCIAL
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,501-square-foot office condominium is arranged with multiple offices and sits at a Main Street corner in downtown Grand Junction. The unit includes access to shared restrooms and an elevator, along with a private rear entrance. Its pro forma cap rate is 5.7%. Local dining, shopping, and entertainment are nearby.
Key Highlights
- 2,501 SF office condominium
- Multiple offices within the unit
- 5.7% pro forma cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,634
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,680
$472.7K
Cap Rate 7%
$337,629
$337.6K
Cap Rate 9%
$262,600
$262.6K
Market Conditions
NOI Build-Up for 2,501 SF
Gross rent
$45.0K $18.00/SF
− Vacancy
−$13.5K −$5.40/SF
EGI
$31.5K $12.60/SF
− OpEx
−$7.9K −$3.15/SF
NOI
$23.6K $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 Rate 5%
$472,680
Cap Rate 7%
$337,629
Cap Rate 9%
$262,600
Alternative Uses
Best Use
Office B
$337.6K
$295.4K – $393.9K
NOI $23,634 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.75M
$4.15M – $5.54M
NOI $332,233 @ 7.0% cap · market cap 66.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,372
Businesses Nearby
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Business Placement
Demographics for 81501, CO
23,935
Population
11,524
Households
2.1
Avg Household Size
33
Median Age
27%
College-Educated
90%
High-School Grad
8.7 sq mi
ZIP Area
2,751
Density / Sq Mi
$48,500
Median Household Income
$32,160
Median Earnings
$974
Median Rent
$283,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - The downtown corner suite includes elevator access, shared restrooms, and a private rear entrance.
Where is this office unit located?
The property is located at 300 Main Street Unit 302 Grand Junction, CO.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: 2,501 SF office condominium; Multiple offices within the unit; 5.7% pro forma cap rate
