Second-Floor Office
For Sale
$150,955
A206-1048 Independent Avenue, Grand Junction, CO 81505
Second-floor office condo with an open work area, private office, and large windows.
Property Size665 SF
Price / SF$227
Days on Market18
Property Features for A206-1048 Independent Avenue
General Information
Standard status
Active
Size
665 SF
Additional Details
Floor
Second Floor
Taxes and HOA fees
Annual Taxes
$80,750
Listing Agency:
RED COMPASS REALTY
(970) 245-7237
Listed By:
JACKSON BERRY · License #394
(970) 261-9136
Source:
Exprealty
Added: Aug 20
Changed: Sep 5
Last Checked: Sep 5 at 3:26PM
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 RED COMPASS REALTY
Investment Insights
Based on property information with market context.
This 665-square-foot office condo occupies the second floor of the building and is accessed by stairs. The interior combines an open-concept work area with a separate enclosed office, providing both shared workspace and private room for focused work. Large windows bring natural light into the suite and support a bright interior environment.
The property is located at A206-1048 Independent Avenue in Grand Junction, Colorado. Its compact layout and combination of open and enclosed areas provide a straightforward office configuration for an owner-user or business occupant.
The property is located at A206-1048 Independent Avenue in Grand Junction, Colorado. Its compact layout and combination of open and enclosed areas provide a straightforward office configuration for an owner-user or business occupant.
Key Highlights
- 665‑square‑foot second‑floor office condo
- Open‑concept main workspace
- Fully enclosed private office
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
$6,284
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
4.16%
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%
$125,680
$125.7K
Cap Rate 7%
$89,771
$89.8K
Cap Rate 9%
$69,822
$69.8K
Market Conditions
NOI Build-Up for 665 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
$12.0K $18.00/SF
− Vacancy
−$3.6K −$5.40/SF
EGI
$8.4K $12.60/SF
− OpEx
−$2.1K −$3.15/SF
NOI
$6.3K $9.45/SF
Area
Mesa County, CO
Vacancy
30.00%
Lease Rate
$18.00 /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%
$125,680
Cap Rate 7%
$89,771
Cap Rate 9%
$69,822
Alternative Uses
Best Use
Office B
$89.8K
$78.6K – $104.7K
NOI $6,284 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.26M
$1.10M – $1.47M
NOI $88,339 @ 7.0% cap · market cap 58.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 81505, CO
11,791
Population
5,379
Households
2.2
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
72.1 sq mi
ZIP Area
164
Density / Sq Mi
$87,677
Median Household Income
$46,560
Median Earnings
$1,424
Median Rent
$436,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor office condo with an open work area, private office, and large windows.
Where is this office units located?
The property is located at A206-1048 Independent Avenue Grand Junction, CO.
What is the asking price?
The asking price for this property is $150,955.
What are key features of this property?
This property features: 665‑square‑foot second‑floor office condo; Open‑concept main workspace; Fully enclosed private office
