Sherwood Park Leased Units
403 Kennedy Ave Grand Junction, CO 81501
403 Kennedy Ave, Grand Junction, CO, 81501
Contact for pricing
For Sale
Contact for pricing
Leased units in updated building with private parking lot.
Property Size4,590 SF
Price / SF$174.07
Days on Market665
Property Features for 403 Kennedy Ave
General Information
- Standard status
- Active
- Size
- 4,590 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1956
Listing agency
The Agency Grand Junction
(970) 250-6781
Listed by
Jan Kimbrough Miller · License #CO 100013124
Source
Crexi
Added: Sep 25, 2024 Updated: Jul 10 at 3:44PM Checked: Jul 21 at 9:34AM
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 The Agency Grand Junction
Investment Insights
Based on property information with market context.
Located on Sherwood Park, this stand-alone building features five leased units and a private parking lot. The property underwent a complete interior, exterior, and major mechanical systems update in 2018. It includes ADA-compliant bathrooms and entrances. The property offers the option to continue leasing all units or to occupy one or more units for business use. Zoned MU-1, refer to associated documents for allowed uses. The property size is 4590 square feet. The capitalization rate, based on net operating income, is 6.1%.
Key Highlights
- Prime location on Sherwood Park.
- Fully updated in 2018, including interior, exterior, and major mechanicals.
- Stand‑alone building with private parking lot.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.1k | $14.40 |
| − Vacancy | −$3.9k | −$0.85 |
| EGI | $62.2k | $13.55 |
| − OpEx | −$18.7k | −$4.07 |
| NOI | $43.5k | $9.49 |
4,590 SF · lease $14.40/SF/yr · vacancy 5.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$622.0K
$544.2K – $725.6K
NOI $43,537 @ 7.0% cap · market cap 5.45%
Second Best
Office B
$619.7K
$542.2K – $722.9K
NOI $43,376 @ 7.0% cap · market cap 5.43%
Theoretical Best
Healthcare Medical
$8.71M
$7.62M – $10.16M
NOI $609,736 @ 7.0% cap · market cap 76.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Benak Susan G ...
Dental Office
Cary Jeannine M
Alternative Medicine Practice
Farmers Union Insurance: ...
Insurance Agency
Farmers Union Insurance: ...
Insurance Agency
Columbine Realty & Property ...
Property Management Company
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FAQs
What type of property is this?
Retail space - Leased units in updated building with private parking lot.
Where is this retail space located?
The property is located at 403 Kennedy Ave Grand Junction, CO.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime location on Sherwood Park.; Fully updated in 2018, including interior, exterior, and major mechanicals.; Stand‑alone building with private parking lot.
