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    3145 1/2 Rd Grand Junction, CO 81504

    Sponsored
    For Sale
    $695,000

    1.4-Acre Development Opportunity, I-70 Corridor

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    414
    This exceptional 1.4-acre commercial land parcel presents a prime development opportunity in Grand Junction, Colorado. Located at 3145 E ½ Rd Lot 5 (APN 2943-103-00-149), this property boasts a highly desirable location along the busy I-70 Business Loop, experiencing a significant daily traffic count of 20,000 vehicles. Its strategic positioning offers unparalleled visibility and accessibility for any commercial venture. The property is zoned MU-2, providing flexibility for a wide range of commercial and retail uses. This zoning designation opens doors to numerous development possibilities, catering to diverse business needs. The site's proximity to established businesses, including a Walmart Neighborhood Market and Central High School, further enhances its appeal and potential for success. This location offers convenient access to a substantial customer base and a thriving community. The asking price for this exceptional development opportunity is $695,000. Don't miss this chance to acquire a highly sought-after commercial land parcel in a rapidly growing area of Grand Junction. The property is owned by VIA Real Estate. This is a rare opportunity to capitalize on the significant potential of this prime location. Serious inquiries are encouraged.

    Property Features for 3145 1/2 Rd

    General Information

    Property type
    Land
    Lot Size
    60,984 SF

    We can help!

    Listing Contact
    Mike Foster
    Mike Foster

    Learn more

    HighLights

    • $695,000 asking price for 1.4‑acre commercial land parcel.
    • Located on the busy I‑70 Business Loop with 20,000 average daily traffic.
    • Excellent location near Walmart Neighborhood Market and Central High School.
    • MU‑2 zoning permits diverse commercial and retail uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.471497
    Latitude
    39.083998

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    FAQs

    What type of property is this?
    Land - 1.4-Acre Development Opportunity, I-70 Corridor
    Where is this land located?
    The property is located at 3145 1/2 Rd Grand Junction, CO.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: $695,000 asking price for 1.4-acre commercial land parcel.; Located on the busy I-70 Business Loop with 20,000 average daily traffic.; Excellent location near Walmart Neighborhood Market and Central High School.
    (970) 244-6602
    Request Owner's contact information
    3145 1/2 Rd Grand Junction, CO 81504
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    Grand Junction, CO 81504
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    3145 1/2 Rd Grand Junction, CO 81504
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    We can help!
    Listing Contact
    Mike Foster
    Mike Foster
    Real Estate License ID: CO IA40011873
    (970) 244-6602
    Learn more
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