Listing Agency: RED COMPASS REALTY Show Phone

Listed By: JACKSON BERRY · License #394 Show Phone

Source: Exprealty

Added: Aug 20 Changed: Oct 8 Last Checked: Oct 12 at 11:54PM

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Investment Insights

Based on property information with market context.

This 1,669 SF flex space combines a finished office component with an open warehouse area. The office portion includes 1 private office, newer carpet and paint, while the unit also provides 1 private restroom and a 14' overhead door serving the warehouse area.

Located at B105-1048 Independent Ave in Grand Junction, CO, the property offers a practical configuration for contractors, e-commerce operations, and distributors. The clean, functional layout supports both administrative work and storage or distribution activities within one unit.

Key Highlights

• 1,669 SF office/warehouse flex unit
• 1 private office with newer carpet and paint
• 1 private restroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,413

Cap Rate

4.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$348,260 $348.3K

Cap Rate 7%

$248,757 $248.8K

Cap Rate 9%

$193,478 $193.5K

Market Conditions

NOI Build-Up for 1,669 SF

Gross rent

$29.0K $17.40/SF

− Vacancy

−$2.3K −$1.35/SF

EGI

$26.8K $16.05/SF

− OpEx

−$9.4K −$5.62/SF

NOI

$17.4K $10.43/SF

Area

Mesa County, CO

Vacancy

7.75%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$348,260

Cap Rate 7%

$248,757

Cap Rate 9%

$193,478

Alternative Uses

Best Use

Flex RnD

$248.8K

$217.7K – $290.2K (±1% cap)

NOI $17,413 @ 7.0% cap · market cap 4.60%

Second Best

Office B

$225.3K

$197.2K – $262.9K (±1% cap)

NOI $15,772 @ 7.0% cap · market cap 4.16%

Theoretical Best

Healthcare Medical

$3.17M

$2.77M – $3.70M (±1% cap)

NOI $221,710 @ 7.0% cap · market cap 58.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Locksmith (Bike/Boat/Book/etc) Store Pet Store Pet Store & Service Butcher Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

1,033

Businesses Nearby

Well-served

Demand for This Use

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• That's Legit! Catering Services — 742 Grand Ave, Grand Junction, CO 81501
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Frequently Asked Questions

What type of property is this?

Flex space - Combined office and warehouse areas include a private restroom and 14-foot overhead door.

Where is this flex space located?

The property is located at B105-1048 Independent Ave Grand Junction, CO.

What is the asking price?

The asking price for this property is $378,863.

What are key features of this property?

This property features: 1,669 SF office/warehouse flex unit; 1 private office with newer carpet and paint; 1 private restroom