Office Building with Main-Floor
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 Market47
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
(970) 261-9136
Added: Sep 2
Changed: Oct 8
Last Checked: Oct 18 at 11:06PM
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.
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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 / Yr
$51,975
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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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 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
