744 Colorado Ave, Grand Junction, CO 81501

Building Details

Year Built 1900 More

Listed By: Dan Bishop Show Phone

Added: May 27, 2025 Changed: Aug 6

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,472

Cap Rate

5.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$469,440 $469.4K

Cap Rate 7%

$335,314 $335.3K

Cap Rate 9%

$260,800 $260.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,360 SF

Gross rent

$36.2K $15.36/SF

− Vacancy

−$2.7K −$1.15/SF

EGI

$33.5K $14.21/SF

− OpEx

−$10.1K −$4.26/SF

NOI

$23.5K $9.95/SF

Area

Mesa County, CO

Vacancy

7.50%

Lease Rate

$15.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$469,440

Cap Rate 7%

$335,314

Cap Rate 9%

$260,800

Alternative Uses

Best Use

Multifamily LT 5

$335.3K

$293.4K – $391.2K (±1% cap)

NOI $23,472 @ 7.0% cap · market cap 5.88%

Second Best

Apartment 5plus

$307.9K

$269.4K – $359.2K (±1% cap)

NOI $21,553 @ 7.0% cap · market cap 5.40%

Theoretical Best

Specialty Retail

$495.4K

$433.5K – $578.0K (±1% cap)

NOI $34,681 @ 7.0% cap · market cap 8.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Location Intelligence

Trade Area within ½ mile

2,291

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

Average Price Trend$/SF for Duplexes in Grand Junction, CO

$245 Jul

$236 Aug

$232 Sep

$244 Oct

Properties on Market for Duplexes in Grand Junction

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two refreshed units feature hardwood floors, enclosed porches, and individually fenced outdoor areas.

Where is this duplex located?

The property is located at 744 Colorado Ave Grand Junction, CO.

What is the asking price?

The asking price for this property is $399,000.