Iconic Grand Junction Business
For Sale
Contact for pricing
581 29 Rd, Grand Junction, CO 81504
Local landmark business and property for sale on 0.95 acres.
Property Size5,041 SF
Lot Size0.95 Acres
Price / SF$337.23
Days on Market144
Property Features for 581 29 Rd
General Information
Standard status
Active
Size
5,041 SF
Total Parking Spaces
30
Lot size
0.95 Acres
Property subtype
Retail, Office, Land
Zoning
MU-2
Lease Type
NNN
Net Operating Income
$91,000
Building Details
Year Built
1966
Year Renovated
2000
Stories
2
Listing Agency:
Venture Group
(970) 778-0796
Listed By:
KYLE SERRANO · License #II 100075682
Source:
Crexi
Added: Mar 21
Changed: Aug 8
Last Checked: Aug 10 at 3:59AM
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.
This is an opportunity to own the iconic Grand Junction business and property, Graff Dairy. The price includes the business and property. The business has been in operation for over 60 years and includes all FF&E, intellectual property, branding, recipes, and inventory. The property is a high-profile 0.95-acre site located off 29 RD with high traffic counts and a drive-thru. The building consists of over 5000+ SF of retail, kitchen, and office space. There is enough room for additional concepts or plans for the business/property, such as an additional restaurant, more inside seating, or added retail. This is a rare opportunity to own a historic local business with a large existing property (5000+SF) allowing for value-add, all the while being located on a long-term development-rich appx 1 Acre Site. The property is suitable for drive-through restaurants, restaurants, retail space, office units, and general commercial real estate. The property size is 5041 square feet.
Key Highlights
- Established Business: Successful business operating for over 60 years, including all FF&E, intellectual property, branding, recipes, and inventory.
- High‑Traffic Location: Prime 0.95‑acre site on 29 RD with high traffic counts and existing drive‑thru.
- Large Building: Over 5000 SF of retail, kitchen, and office space.
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
$74,080
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
4.36%
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%
$1,481,600
$1.5M
Cap Rate 7%
$1,058,286
$1.1M
Cap Rate 9%
$823,111
$823.1K
Market Conditions
NOI Build-Up for 5,041 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
$107.1K $21.24/SF
− Vacancy
−$8.3K −$1.65/SF
EGI
$98.8K $19.59/SF
− OpEx
−$24.7K −$4.90/SF
NOI
$74.1K $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%
$1,481,600
Cap Rate 7%
$1,058,286
Cap Rate 9%
$823,111
Alternative Uses
Best Use
Specialty Retail
$1.06M
$926.0K – $1.23M
NOI $74,080 @ 7.0% cap · market cap 4.36%
Second Best
Retail
$683.1K
$597.7K – $796.9K
NOI $47,815 @ 7.0% cap · market cap 2.81%
Theoretical Best
Healthcare Medical
$9.57M
$8.37M – $11.16M
NOI $669,646 @ 7.0% cap · market cap 39.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Explore this area
Business Placement
Demographics for 81504, CO
31,150
Population
13,042
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
91%
High-School Grad
26.9 sq mi
ZIP Area
1,158
Density / Sq Mi
$67,907
Median Household Income
$40,402
Median Earnings
$1,414
Median Rent
$290,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Local landmark business and property for sale on 0.95 acres.
Where is this drive through restaurant located?
The property is located at 581 29 Rd Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Established Business: Successful business operating for over 60 years, including all FF&E, intellectual property, branding, recipes, and inventory.; High‑Traffic Location: Prime 0.95‑acre site on 29 RD with high traffic counts and existing drive‑thru.; Large Building: Over 5000 SF of retail, kitchen, and office space.
