Freestanding Bank Branch
For Sale
$3,200,000
516 28 Road, Grand Junction, CO 81501
CommercialSale, Grand Junction, CO
Property Size12,360 SF
Lot Size1.45 Acres
Price / SF$258.90
Days on Market21
Property Features for 516 28 Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-1
Lot features
Corner Lot
Directions
NEC of Bunting Avenue and 28 Road
Subdivision
Grand Junction City
Standard status
Active
Lot size
1.45 Acres
Taxes and HOA fees
Tax Annual Amount
46856
Amenities
drive-thru lanes
conference room
breakrooms
security cameras
fire alarm system
secure bank vault
Listing Agency:
S.U.R.E., LLC
(970) 300-5857
Listed By:
Katie Davis · License #FA.100094662
(970) 778-5083
Added: Aug 1
Changed: Aug 20
Last Checked: Aug 21 at 11:06AM
MLS# 20263779
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.
Located at 516 28 Road in Grand Junction, this 12,360-square-foot freestanding building occupies 1.45 acres and was originally configured for bank operations. The property includes a three-car drive-through lane, a separate ATM drive-through lane, 48 parking spaces, and direct access from 28 Road. Interior features include an open waiting area, five built-in teller stations, 32 private offices, two lobby workstations, two breakrooms, a training and conference room, storage areas, four ADA-compliant restrooms, a secure vault, security cameras, and a fire alarm system. One breakroom includes a full kitchen with appliances, cabinetry, countertops, and seating.
The property is 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 surrounding area includes apartments and local, regional, and national brands. A tenant is currently in place, and the leased area includes the branch, drive-through teller lines, and vault.
The property is 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 surrounding area includes apartments and local, regional, and national brands. A tenant is currently in place, and the leased area includes the branch, drive-through teller lines, and vault.
Key Highlights
- 12,360‑square‑foot freestanding building on a 1.45‑acre lot
- Three‑car drive‑through lane plus a one‑car ATM drive‑through lane
- 48 parking spaces, including 2 ADA‑compliant spots
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
$181,635
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
5.68%
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%
$3,632,700
$3.6M
Cap Rate 7%
$2,594,786
$2.6M
Cap Rate 9%
$2,018,167
$2.0M
Market Conditions
NOI Build-Up for 12,360 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
$262.5K $21.24/SF
− Vacancy
−$20.3K −$1.65/SF
EGI
$242.2K $19.59/SF
− OpEx
−$60.5K −$4.90/SF
NOI
$181.6K $14.70/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$21.24 /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%
$3,632,700
Cap Rate 7%
$2,594,786
Cap Rate 9%
$2,018,167
Alternative Uses
Best Use
Specialty Retail
$2.59M
$2.27M – $3.03M
NOI $181,635 @ 7.0% cap · market cap 5.68%
Second Best
Retail
$1.67M
$1.47M – $1.95M
NOI $117,238 @ 7.0% cap · market cap 3.66%
Theoretical Best
Healthcare Medical
$23.46M
$20.52M – $27.37M
NOI $1,641,902 @ 7.0% cap · market cap 51.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
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
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?
Bank - 12,360-square-foot facility with drive-through lanes, extensive offices, secure vault, and on-site parking.
Where is this bank located?
The property is located at 516 28 Road 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: 12,360‑square‑foot freestanding building on a 1.45‑acre lot; Three‑car drive‑through lane plus a one‑car ATM drive‑through lane; 48 parking spaces, including 2 ADA‑compliant spots
