Grand Junction Estate with Development
For Sale
Contact for pricing
3164 F Rd, Grand Junction, CO 81504
4.64-acre estate featuring a church, warehouse, and residential homes.
Property Size22,536 SF
Lot Size4.64 Acres
Price / SF$97.40
Days on Market1082
Property Features for 3164 F Rd
General Information
Standard status
Active
Size
22,536 SF
Total Parking Spaces
161
Lot size
4.64 Acres
Property subtype
Mixed Use, Special Purpose
Zoning
RSF-4
Building Details
Year Built
1995
Buildings
3
Stories
2
Listing Agency:
The Christi Reece Group
(970) 208-3853
Listed By:
Mike Park · License #CO 100028342
Source:
Crexi
Added: Aug 25, 2023
Changed: Aug 8
Last Checked: Aug 8 at 4:32AM
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 The Christi Reece Group
Investment Insights
Based on property information with market context.
This estate, situated on 4.64 acres, presents numerous possibilities. The 14,800-square-foot church includes a main sanctuary with seating for 420 people, a daycare area, multiple office spaces, a technologically advanced audio room, and a commercial kitchen. The kitchen's seating area can accommodate up to 250 people. The attached warehouse space features two overhead doors, a large walk-in freezer, and a walk-in cooler. Additionally, the property includes two 2,368-square-foot residential homes, each built in 1995 and featuring three bedrooms, two bathrooms, and fenced-in yards. Vacant space at the rear of the property is suitable for five additional residential lots or other uses. This property is located in Grand Junction, Colorado.
Key Highlights
- Expansive 4.64‑acre lot with limitless potential for development
- 14,800 sq ft church with 420‑person sanctuary, daycare, offices, and advanced audio room
- Commercial kitchen with seating for 250, walk‑in freezer and cooler, and warehouse space with 2 overhead doors
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
$173,524
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
7.91%
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%
$3,470,480
$3.5M
Cap Rate 7%
$2,478,914
$2.5M
Cap Rate 9%
$1,928,044
$1.9M
Market Conditions
NOI Build-Up for 22,536 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
$262.3K $11.64/SF
− Vacancy
−$14.4K −$0.64/SF
EGI
$247.9K $11.00/SF
− OpEx
−$74.4K −$3.30/SF
NOI
$173.5K $7.70/SF
Area
Mesa County, CO
Vacancy
5.50%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
30.00%
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%
$3,470,480
Cap Rate 7%
$2,478,914
Cap Rate 9%
$1,928,044
Alternative Uses
Best Use
Warehouse
$3.01M
$2.63M – $3.51M
NOI $210,708 @ 7.0% cap · market cap 9.60%
Second Best
Industrial
$2.48M
$2.17M – $2.89M
NOI $173,524 @ 7.0% cap · market cap 7.91%
Theoretical Best
Healthcare Medical
$42.77M
$37.42M – $49.89M
NOI $2,993,682 @ 7.0% cap · market cap 136.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
328
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - 4.64-acre estate featuring a church, warehouse, and residential homes.
Where is this church & religious facility located?
The property is located at 3164 F Rd Grand Junction, CO.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Expansive 4.64‑acre lot with limitless potential for development; 14,800 sq ft church with **420‑person sanctuary**, daycare, offices, and advanced audio room; Commercial kitchen with seating for 250, walk‑in freezer and cooler, and warehouse space with 2 overhead doors
