Office-Industrial Flex
For Sale
$1,980,940
389 Roberts Court, Grand Junction, CO 81504
CommercialSale, Grand Junction, CO
Property Size7,619 SF
Price / SF$260
Days on Market20
Property Features for 389 Roberts Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Lot features
Irregular Lot
Directions
Lot 1 Caprock Commercial Park - Sec 22 15 IE VM Rect No 2775065.
Subdivision
SE Grand Junction
Standard status
Active
Taxes and HOA fees
Tax Annual Amount
19597
Listing Agency:
RE/MAX 4000, INC
(970) 241-4000
Listed By:
Ray Rickard, Ccim · License #EA1044695
(970) 250-1128
Added: Aug 3
Changed: Aug 21
Last Checked: Aug 22 at 2:06PM
MLS# 20263784
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 flex property comprises three buildings with a combined reported area of 7,619 square feet. The primary office building contains 3,126 square feet. A second building provides 1,326 square feet, along with 986 square feet of unfinished storage identified separately from assessor records. The third building includes 1,367 square feet listed in assessor records and an additional 1,800-square-foot addition, for 3,167 square feet described for that building.
The property is located at 389 Roberts Court in Grand Junction, Colorado, within Mesa County. Its office and industrial components create a multi-building configuration for an owner seeking space that spans both functions.
The property is located at 389 Roberts Court in Grand Junction, Colorado, within Mesa County. Its office and industrial components create a multi-building configuration for an owner seeking space that spans both functions.
Key Highlights
- Three‑building flex property totaling 7,619 sqft
- Main office building contains 3,126 sqft
- Second building includes 1,326 sqft plus 986 sqft unfinished storage
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
$79,493
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
4.01%
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%
$1,589,860
$1.6M
Cap Rate 7%
$1,135,614
$1.1M
Cap Rate 9%
$883,256
$883.3K
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
$132.6K $17.40/SF
− Vacancy
−$10.3K −$1.35/SF
EGI
$122.3K $16.05/SF
− OpEx
−$42.8K −$5.62/SF
NOI
$79.5K $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%
$1,589,860
Cap Rate 7%
$1,135,614
Cap Rate 9%
$883,256
Alternative Uses
Best Use
Flex RnD
$1.14M
$993.7K – $1.32M
NOI $79,493 @ 7.0% cap · market cap 4.01%
Second Best
Office B
$1.03M
$900.0K – $1.20M
NOI $72,000 @ 7.0% cap · market cap 3.63%
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
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 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?
Flex space - Three-building configuration combines office areas with industrial flex space.
Where is this flex space located?
The property is located at 389 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: Three‑building flex property totaling 7,619 sqft; Main office building contains 3,126 sqft; Second building includes 1,326 sqft plus 986 sqft unfinished storage
