Professional Office
For Sale
Contact for pricing
389 & 391 Roberts Court, Grand Junction, CO 81504
Office building constructed in 1997 for professional commercial use.
Property Size7,619 SF
Price / SF$260
Days on Market12
Property Features for 389 & 391 Roberts Court
General Information
Standard status
Active
Size
7,619 SF
Class
B
Property subtype
Office
Zoning
Lot 1, Caprock Commercial Park Reception No. 2775065
Investment Type
Owner/User
Building Details
Year Built
1997
Buildings
2
Listing Agency:
RE/MAX 4000 Inc
(970) 250-1128
Listed By:
Ray Rickard, CCIM · License #CO EA1044695
Source:
Crexi
Added: Jul 31
Changed: Aug 8
Last Checked: Aug 11 at 11:04AM
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 RE/MAX 4000 Inc
Investment Insights
Based on property information with market context.
This professional office building contains 7,619 square feet and was constructed in 1997. The property is identified as an office building and is associated with the addresses 389 and 391 Roberts Court.
Located in Grand Junction, Colorado, the asset presents a dedicated commercial office configuration for prospective ownership or occupancy. The recorded zoning designation is Lot 1, Caprock Commercial Park Reception No. 2775065.
Located in Grand Junction, Colorado, the asset presents a dedicated commercial office configuration for prospective ownership or occupancy. The recorded zoning designation is Lot 1, Caprock Commercial Park Reception No. 2775065.
Key Highlights
- 7,619‑square‑foot professional office building
- Constructed in 1997
- Associated with 389 & 391 Roberts Court
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
$72,000
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
3.63%
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%
$1,440,000
$1.4M
Cap Rate 7%
$1,028,571
$1.0M
Cap Rate 9%
$800,000
$800.0K
Market Conditions
NOI Build-Up for 7,619 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
$137.1K $18.00/SF
− Vacancy
−$41.1K −$5.40/SF
EGI
$96.0K $12.60/SF
− OpEx
−$24.0K −$3.15/SF
NOI
$72.0K $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%
$1,440,000
Cap Rate 7%
$1,028,571
Cap Rate 9%
$800,000
Alternative Uses
Best Use
Office B
$1.03M
$900.0K – $1.20M
NOI $72,000 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$14.46M
$12.65M – $16.87M
NOI $1,012,108 @ 7.0% cap · market cap 51.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building constructed in 1997 for professional commercial use.
Where is this office building located?
The property is located at 389 & 391 Roberts Court Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,980,940.
What are key features of this property?
This property features: 7,619‑square‑foot professional office building; Constructed in 1997; Associated with 389 & 391 Roberts Court
