Restaurant Building with Vacant
New
For Sale
$1,400,000
810 North Avenue, Grand Junction, CO 81501
CommercialSale, Grand Junction, CO
Property Size4,470 SF
Lot Size0.36 Acres
Price / SF$313.20
Days on Market1
Property Features for 810 North Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU-2
Directions
North Avenue between 8th and 9th Street, north side
Subdivision
Grand Junction City
Standard status
Active
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
21313
Listing Agency:
S.U.R.E., LLC
(970) 300-5857
Listed By:
Katie Davis · License #FA.100094662
(970) 778-5083
Added: Sep 2
Last Checked: Sep 2 at 10:06PM
MLS# 20264425
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.
This restaurant property at 810 North Avenue contains 4,470 square feet on a 0.36-acre lot. The building includes an operating Subway franchise tenancy under a five-year lease with three additional five-year renewal options. A 2,200-square-foot portion on the north side is vacant and includes dedicated HVAC, a ventilation fan, a stainless steel sink, mezzanine storage, five main-floor rooms, and an upper level with an open layout and private office. The space may also accommodate reinstated overhead access and windows.
The property is directly adjacent to Colorado Mesa University and positioned along North Avenue in Grand Junction. A dedicated pole sign serves the site, and parking is available for customers and staff. The existing restaurant occupancy and separately configured vacant area provide distinct components within the building.
The property is directly adjacent to Colorado Mesa University and positioned along North Avenue in Grand Junction. A dedicated pole sign serves the site, and parking is available for customers and staff. The existing restaurant occupancy and separately configured vacant area provide distinct components within the building.
Key Highlights
- 4,470 SF restaurant property on a 0.36‑acre lot
- 2,200 SF vacant north‑side area with dedicated HVAC and ventilation fan
- Existing Subway franchise tenant on a 5‑year lease with 3 additional 5‑year renewal options
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
$65,689
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
4.69%
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%
$1,313,780
$1.3M
Cap Rate 7%
$938,414
$938.4K
Cap Rate 9%
$729,878
$729.9K
Market Conditions
NOI Build-Up for 4,470 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
$94.9K $21.24/SF
− Vacancy
−$7.4K −$1.65/SF
EGI
$87.6K $19.59/SF
− OpEx
−$21.9K −$4.90/SF
NOI
$65.7K $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%
$1,313,780
Cap Rate 7%
$938,414
Cap Rate 9%
$729,878
Alternative Uses
Best Use
Specialty Retail
$938.4K
$821.1K – $1.09M
NOI $65,689 @ 7.0% cap · market cap 4.69%
Second Best
Retail
$605.7K
$530.0K – $706.7K
NOI $42,399 @ 7.0% cap · market cap 3.03%
Theoretical Best
Healthcare Medical
$8.48M
$7.42M – $9.90M
NOI $593,795 @ 7.0% cap · market cap 42.41%
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
1,765
Businesses Nearby
Under-served
Demand for This Use
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 Retail 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?
Conventional restaurant - Commercial restaurant property beside Colorado Mesa University with dedicated signage and customer parking.
Where is this conventional restaurant located?
The property is located at 810 North Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 4,470 SF restaurant property on a 0.36‑acre lot; 2,200 SF vacant north‑side area with dedicated HVAC and ventilation fan; Existing Subway franchise tenant on a 5‑year lease with 3 additional 5‑year renewal options
