Versatile Commercial Property on 32
For Sale
Contact for pricing
3199 Hall Avenue, Grand Junction, CO 81504
Main shop, retail space, fenced yard, locked shop, high visibility.
Property Size3,000 SF
Price / SF$141.67
Days on Market860
Property Features for 3199 Hall Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Industrial
Zoning
C-2
Building Details
Year Built
1981
Listing Agency:
Keller Williams Colorado West Realty LLC
(970) 201-0941
Listed By:
Tina Hulihee · License #CO
Source:
Crexi
Added: Apr 18, 2024
Changed: Aug 22
Last Checked: Aug 14 at 5:59AM
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 Keller Williams Colorado West Realty LLC
Investment Insights
Based on property information with market context.
This commercial property features a main shop and an extra retail space. It is complemented by a fenced side yard and an additional locked-up shop in the back. Located on the busy 32 Road, the property offers high visibility. Its versatile layout and strategic positioning make it suitable for business operations. The property is extremely close to both I-70 and Highway 50. The property size is 3000 square feet.
Key Highlights
- High visibility location on busy 32 Road.
- Includes a main shop and an extra retail space.
- Features a fenced side yard.
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
$31,300
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
7.36%
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%
$626,000
$626.0K
Cap Rate 7%
$447,143
$447.1K
Cap Rate 9%
$347,778
$347.8K
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
$52.2K $17.40/SF
− Vacancy
−$4.0K −$1.35/SF
EGI
$48.2K $16.05/SF
− OpEx
−$16.9K −$5.62/SF
NOI
$31.3K $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%
$626,000
Cap Rate 7%
$447,143
Cap Rate 9%
$347,778
Alternative Uses
Best Use
Flex RnD
$447.1K
$391.3K – $521.7K
NOI $31,300 @ 7.0% cap · market cap 7.36%
Second Best
Industrial
$330.0K
$288.8K – $385.0K
NOI $23,100 @ 7.0% cap · market cap 5.44%
Theoretical Best
Healthcare Medical
$5.69M
$4.98M – $6.64M
NOI $398,520 @ 7.0% cap · market cap 93.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
426
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 Industrial 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?
Flex space - Main shop, retail space, fenced yard, locked shop, high visibility.
Where is this flex space located?
The property is located at 3199 Hall Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: High visibility location on busy 32 Road.; Includes a main shop and an extra retail space.; Features a fenced side yard.
