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    Free-Standing Building on 1.45 Acres Title is generated by Realmo AI

    516 28 Rd, Grand Junction, CO 81501

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    Claim this Listing
    For Sale
    $3,200,000

    Highly visible property with ample parking and modern amenities.

    Property size:
    12,360 SF
    Lot size:
    1.45 Acres
    Price / SF:
    $258/SF
    Added:
    Jan 17, 2025
    Days on Market:
    514
    Last Refresh:
    Jan 20 at 9:47 am

    Property Features for 516 28 Rd

    General Information

    Standard status
    Active
    Size
    12,360 SF
    Lot size
    1.45 Acres

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    Listing Contact
    Katherine Davis

    Listing agent Katherine Davis

    Listing office Bray Commercial LLC

    Listing date Jan 17, 2025

    Source Exprealty

    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 Bray Commercial LLC

    HighLights

    • High‑visibility location on 28 Road with direct access and ample parking (48 spaces, including ADA)
    • Large, free‑standing 12,360 Sq. Ft. building on a 1.45‑acre lot.
    • Includes a 3‑car drive‑thru and a separate 1‑car ATM drive‑thru.
    • Versatile interior featuring 32 private offices (including a co‑working space), teller stations, and multiple breakrooms.
    • Equipped with a secure bank vault, security cameras, and a fire alarm system.
    • Conveniently located near North Avenue and various commercial and residential destinations, including Lincoln Park and Red Cliff Pointe Shopping Center.

    Overview

    The property is a 12,360 sq. ft. free-standing building on a 1.45-acre lot. Originally designed as a bank branch, it features direct access from 28 Road, ample parking, and modern amenities. The building includes a 3-car drive-thru lane and a 1-car ATM drive-thru lane, along with 48 parking spaces, including 2 ADA-compliant spots. The interior features an open waiting area, 5 built-in teller stations, 32 private offices (including a co-working office with five stations), and 2 lobby workstations. There are also 2 breakrooms, one with a full kitchen including appliances such as fridges, a dishwasher, a built-in microwave, a stove/oven, and a seating area. The property has 4 separate ADA-compliant restrooms, a training center/conference room, a copier and storage room with built-in cabinetry, a supply room, and additional storage spaces. It also includes a secure bank vault, security cameras, and a fire alarm system. The property is located in a dense commercial and residential area near apartments and local, regional, and national brands, approximately 0.15 miles from North Avenue and less than a mile from Lincoln Park, Red Cliff Pointe Shopping Center, the VA Hospital, Dollar Tree, Big 5 Sporting Goods, and U-Haul Moving & Storage. The property is suitable for businesses in banking, accounting, legal services, or other professional uses. A tenant occupies 3,000 sq ft, paying $3,750 per month base rent ($15.00 per sq ft) and prorated property tax, utilities, insurance, and maintenance. The leased space includes the branch, drive-through teller lines, and vault.

    Local Financial Insights For Specialty 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 $262.5k $21.24
    − Vacancy −$20.3k −$1.65
    EGI $242.2k $19.59
    − OpEx −$60.5k −$4.90
    NOI $181.6k $14.70
    12,360 SF · lease $21.24/SF/yr · vacancy 7.75% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $2.59M
    $2.27M – $3.03M (±1% cap)
    NOI $181,635 @ 7.0% cap · market cap 5.68%
    Second Best
    Retail
    $1.67M
    $1.47M – $1.95M (±1% cap)
    NOI $117,238 @ 7.0% cap · market cap 3.66%
    Theoretical Best
    Healthcare Medical
    $23.46M
    $20.52M – $27.37M (±1% cap)
    NOI $1,641,902 @ 7.0% cap · market cap 51.31%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coloramo Federal Credit ... Credit Union jcw customized conex General Contractor JCW Mobile Welding General Contractor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.533
    Latitude
    39.0796

    FAQs

    What type of property is this?
    Bank - Highly visible property with ample parking and modern amenities.
    Where is this bank located?
    The property is located at 516 28 Rd Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: High‑visibility location on 28 Road with direct access and ample parking (48 spaces, including ADA); Large, free‑standing 12,360 Sq. Ft. building on a 1.45‑acre lot.; Includes a 3‑car drive‑thru and a separate 1‑car ATM drive‑thru.
    More about this property
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