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    679 24 1/2 Rd Grand Junction, CO 81505

    For Sale
    $865,000

    5.28-acre multi-family potential. Prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 5.28-acre parcel in Grand Junction, Colorado, presents a remarkable opportunity for multi-family development. Located at 679 24 1/2 Rd, 81505 (APN 2945-042-00-138), this RH-24 zoned land offers significant potential for investors and developers. The property boasts convenient access to essential amenities, including the Mesa Mall, Community Hospital, banks, retail stores, coffee shops, a movie theater, and a grocery store, all within walking distance. Utilities are readily available, with sewer access along 24 1/2 Rd and the west property line, a water tap already installed on the property, and gas and electric services present. While some demolition of existing structures is required, this factor is reflected in the asking price of $865,000 ($3.76/sq ft land value). The existing building and shop could potentially generate income during the development phase. This flag lot is situated in a rapidly developing area, surrounded by other multi-family and commercial projects, making it an ideal location for a lucrative investment. Don't miss this chance to capitalize on Grand Junction's thriving real estate market.

    Property Features for 679 24 1/2 Rd

    General Information

    Property type
    Land
    Lot Size
    229,997 SF

    HighLights

    • 5.28‑acre multi‑family development site in Grand Junction, CO.
    • Located at 679 24 1/2 Rd, 81505 (APN 2945‑042‑00‑138), RH‑24 zoning.
    • $865,000 asking price ($3.76/sq ft land value); existing structures require demolition.
    • Utilities readily available (sewer, water, gas, electric); potential income from existing building during development.
    • Excellent location near Mesa Mall, hospital, and other amenities; rapidly developing area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.6007239
    Latitude
    39.1039198

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    FAQs

    What type of property is this?
    Land - 5.28-acre multi-family potential. Prime location.
    Where is this land located?
    The property is located at 679 24 1/2 Rd Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $865,000.
    What are key features of this property?
    This property features: 5.28-acre multi-family development site in Grand Junction, CO.; Located at 679 24 1/2 Rd, 81505 (APN 2945-042-00-138), RH-24 zoning.; $865,000 asking price ($3.76/sq ft land value); existing structures require demolition.
    Request Owner's contact information
    679 24 1/2 Rd Grand Junction, CO 81505
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    Grand Junction, CO 81505
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    679 24 1/2 Rd Grand Junction, CO 81505
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