Industrial Flex Property with Shop
New
For Sale
$750,000
378 28 Road, Grand Junction, CO 81501
Three contiguous parcels combine workshop, office, storage, and municipal utility infrastructure for flexible commercial operations.
Property Size2,720 SF
Lot Size1.14 Acres
Price / SF$275.74
Days on Market5
Property Features for 378 28 Road
General Information
Standard status
Active
Size
2,720 SF
Lot size
1.14 Acres
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1976
Listing Agency:
S.U.R.E., LLC
Listed By:
Katherine Davis · License #12736
Source:
Destinationdro
Added: Sep 11
Last Checked: Sep 15 at 5:00AM
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 S.U.R.E., LLC
Investment Insights
Based on property information with market context.
This flex-space offering comprises three contiguous parcels totaling 1.14 acres at 378 28 Road, 2802 C 3/4 Road, and 2806 C 3/4 Road. The improvements provide 2,720 SF across a primary industrial shop, a climate-controlled portable office, and an administrative office/flex building. The main shop includes a clean room, break room, restroom with shower, mop sink, washer/dryer connections, and two overhead doors. The office buildings add open workspace and private offices, while a separate metal structure provides additional shop or storage capacity.
Municipal gas, electricity, water, and sewer are connected to 2802 and 2806 C 3/4 Road. The property also includes four storage sheds and a secure 40-foot Connex box. Built in 1976, the multi-structure layout supports a range of industrial, contractor, fleet, and office functions.
Municipal gas, electricity, water, and sewer are connected to 2802 and 2806 C 3/4 Road. The property also includes four storage sheds and a secure 40-foot Connex box. Built in 1976, the multi-structure layout supports a range of industrial, contractor, fleet, and office functions.
Key Highlights
- 1.14 acres across three contiguous parcels
- 2,720 SF of combined shop, office, and flex improvements
- 1,800 SF main shop with clean room and two overhead doors
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
$28,379
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
3.78%
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%
$567,580
$567.6K
Cap Rate 7%
$405,414
$405.4K
Cap Rate 9%
$315,322
$315.3K
Market Conditions
NOI Build-Up for 2,720 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
$47.3K $17.40/SF
− Vacancy
−$3.7K −$1.35/SF
EGI
$43.7K $16.05/SF
− OpEx
−$15.3K −$5.62/SF
NOI
$28.4K $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%
$567,580
Cap Rate 7%
$405,414
Cap Rate 9%
$315,322
Alternative Uses
Best Use
Flex RnD
$405.4K
$354.7K – $473.0K
NOI $28,379 @ 7.0% cap · market cap 3.78%
Second Best
Industrial
$299.2K
$261.8K – $349.1K
NOI $20,944 @ 7.0% cap · market cap 2.79%
Theoretical Best
Healthcare Medical
$5.16M
$4.52M – $6.02M
NOI $361,325 @ 7.0% cap · market cap 48.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Three contiguous parcels combine workshop, office, storage, and municipal utility infrastructure for flexible commercial operations.
Where is this flex space located?
The property is located at 378 28 Road Grand Junction, CO.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1.14 acres across three contiguous parcels; 2,720 SF of combined shop, office, and flex improvements; 1,800 SF main shop with clean room and two overhead doors
