Office Building with Main-Floor
New
For Sale
$1,500,000
321 Rood Avenue, Grand Junction, CO 81501
CommercialSale, Grand Junction, CO
Property Size5,500 SF
Price / SF$272.73
Days on Market2
Property Features for 321 Rood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-3
Directions
From N 1st Street, turn left onto Rood Avenue. Building is located between 3rd and 4th Streets on Rood Ave across from Home Loan.
Subdivision
Grand Junction City
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
23852
Listing Agency:
RED COMPASS REALTY
(970) 245-7237
Listed By:
Jackson Berry · License #ER.100017940
(970) 261-9136
Added: Sep 2
Last Checked: Sep 3 at 7:06AM
MLS# 20264438
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 office building includes multiple suites and a 5,500-square-foot main-floor suite expected to become available at year-end. The space is identified as suitable for professional office use, including law and medical practices. Concrete and painting improvements were completed in 2026.
The property is located at 321 Rood Avenue in downtown Grand Junction, providing a central address for an office building acquisition. The building’s suite configuration offers an ownership profile that combines an available main-floor office with additional suites in the property.
The property is located at 321 Rood Avenue in downtown Grand Junction, providing a central address for an office building acquisition. The building’s suite configuration offers an ownership profile that combines an available main-floor office with additional suites in the property.
Key Highlights
- 5,500 SF main‑floor suite expected to be available at year‑end
- Multiple suites within the office building
- Concrete and painting improvements completed in 2026
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
$51,975
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
3.47%
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%
$1,039,500
$1.0M
Cap Rate 7%
$742,500
$742.5K
Cap Rate 9%
$577,500
$577.5K
Market Conditions
NOI Build-Up for 5,500 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
$99.0K $18.00/SF
− Vacancy
−$29.7K −$5.40/SF
EGI
$69.3K $12.60/SF
− OpEx
−$17.3K −$3.15/SF
NOI
$52.0K $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 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%
$1,039,500
Cap Rate 7%
$742,500
Cap Rate 9%
$577,500
Alternative Uses
Best Use
Healthcare Medical
$10.44M
$9.13M – $12.18M
NOI $730,620 @ 7.0% cap · market cap 48.71%
Second Best
Office B
$742.5K
$649.7K – $866.3K
NOI $51,975 @ 7.0% cap · market cap 3.47%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,372
Businesses Nearby
Explore this area
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
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?
Office building - Downtown office property with multiple suites and a substantial main-floor space expected to open at year-end.
Where is this office building located?
The property is located at 321 Rood Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,500 SF main‑floor suite expected to be available at year‑end; Multiple suites within the office building; Concrete and painting improvements completed in 2026
