Historic Corner Office
For Sale
Contact for pricing
535 N 7th Street, Grand Junction, CO 81501
Fully remodeled multi-level building with a balcony on a corner lot and ample on-site parking.
Property Size5,502 SF
Price / SF$227.19
Days on Market67
Property Features for 535 N 7th Street
General Information
Standard status
Active
Size
5,502 SF
Total Parking Spaces
24
Property subtype
Office, Mixed Use
Zoning
PD
Additional Details
Business Included
Yes
Building Details
Year Built
1929
Year Renovated
2020
Stories
3
Tenancy
Single
Listing Agency:
Venture Group
Listed By:
KYLE SERRANO · License #II 100075682
(970) 778-0796
Source:
Crexi
Added: Jul 1
Changed: Aug 24
Last Checked: Sep 4 at 10:15PM
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 Venture Group
Investment Insights
Based on property information with market context.
Fully remodeled historic property offering over 5,500 square feet of usable space across two fully updated levels plus a third level balcony area. The layout provides flexibility for a single tenant or multiple occupants, including options for office, professional services, medical, or live-work configurations.
The building is situated on a corner lot in downtown Grand Junction at the intersection of 7th Street and Chipeta Ave. The exterior includes manicured landscaping and the property benefits from ample parking and high visibility.
This turn-key building is offered for sale and is suited for users or investors seeking a centrally located, adaptable historic structure with multiple potential leasing and occupancy arrangements.
The building is situated on a corner lot in downtown Grand Junction at the intersection of 7th Street and Chipeta Ave. The exterior includes manicured landscaping and the property benefits from ample parking and high visibility.
This turn-key building is offered for sale and is suited for users or investors seeking a centrally located, adaptable historic structure with multiple potential leasing and occupancy arrangements.
Key Highlights
- Fully remodeled historic building built in 1929
- Over 5,500 SF of usable space across multiple levels for office, professional, medical, work‑live, or other uses
- Multi‑level layout with 2 fully updated levels plus a 3rd level balcony area
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
$51,994
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
4.16%
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%
$1,039,880
$1.0M
Cap Rate 7%
$742,771
$742.8K
Cap Rate 9%
$577,711
$577.7K
Market Conditions
NOI Build-Up for 5,502 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
$99.0K $18.00/SF
− Vacancy
−$29.7K −$5.40/SF
EGI
$69.3K $12.60/SF
− OpEx
−$17.3K −$3.15/SF
NOI
$52.0K $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 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%
$1,039,880
Cap Rate 7%
$742,771
Cap Rate 9%
$577,711
Alternative Uses
Best Use
Healthcare Medical
$10.44M
$9.14M – $12.18M
NOI $730,886 @ 7.0% cap · market cap 58.47%
Second Best
Office B
$742.8K
$649.9K – $866.6K
NOI $51,994 @ 7.0% cap · market cap 4.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,976
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Fully remodeled multi-level building with a balcony on a corner lot and ample on-site parking.
Where is this live-work space located?
The property is located at 535 N 7th Street Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Fully remodeled historic building built in 1929; Over 5,500 SF of usable space across multiple levels for office, professional, medical, work‑live, or other uses; Multi‑level layout with 2 fully updated levels plus a 3rd level balcony area
