Freestanding Office Building with
For Sale
$2,600,000
516 28 Rd, Grand Junction, CO 81501
Freestanding 12,360 SF office building on a 1.45-acre lot with direct access from 28 Road.
Property Size12,360 SF
Lot Size1.45 Acres
Price / SF$210.36
Days on Market78
Property Features for 516 28 Rd
General Information
Standard status
Active
Size
12,360 SF
Lot size
1.45 Acres
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$46,855
Listing Agency:
S.U.R.E., LLC
(970) 300-5857
Listed By:
KATIE DAVIS · License #FA.100094662
(970) 778-5083
Source:
Exprealty
Added: Jul 24
Changed: Sep 23
Last Checked: Oct 7 at 5:49PM
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 S.U.R.E., LLC
Investment Insights
Based on property information with market context.
This offering presents a free-standing office building totaling 12,360 square feet situated on a 1.45-acre lot. The property includes ample parking and is described as having modern amenities, with direct access from 28 Road.
Located at 516 28 Road in Grand Junction, Colorado, the site is positioned to support straightforward arrival and on-site parking needs for office users.
The building and site configuration are designed around a standalone footprint, providing an independent property layout with vehicle access directly from 28 Road.
Located at 516 28 Road in Grand Junction, Colorado, the site is positioned to support straightforward arrival and on-site parking needs for office users.
The building and site configuration are designed around a standalone footprint, providing an independent property layout with vehicle access directly from 28 Road.
Key Highlights
- 12,360 SF freestanding building on a 1.45‑acre lot
- Direct access from 28 Road
- Ample parking on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,802
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,336,040
$2.3M
Cap Rate 7%
$1,668,600
$1.7M
Cap Rate 9%
$1,297,800
$1.3M
Market Conditions
NOI Build-Up for 12,360 SF
Gross rent
$222.5K $18.00/SF
− Vacancy
−$66.7K −$5.40/SF
EGI
$155.7K $12.60/SF
− OpEx
−$38.9K −$3.15/SF
NOI
$116.8K $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 Rate 5%
$2,336,040
Cap Rate 7%
$1,668,600
Cap Rate 9%
$1,297,800
Alternative Uses
Best Use
Office B
$1.67M
$1.46M – $1.95M
NOI $116,802 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$23.46M
$20.52M – $27.37M
NOI $1,641,902 @ 7.0% cap · market cap 63.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding 12,360 SF office building on a 1.45-acre lot with direct access from 28 Road.
Where is this office building located?
The property is located at 516 28 Rd Grand Junction, CO.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 12,360 SF freestanding building on a 1.45‑acre lot; Direct access from 28 Road; Ample parking on site
