2872 I-70Bl Grand Junction, CO 81501
- Warehouses
- 31,296 SF
- 4.91 lot acres
Current Use by Public Records
- Warehouses
Property Details for 2872 I-70Bl
- Year built
- 1981
- Lot size
- 4.91 lot acres
- Property size
- 31,296 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a 31,296 square foot multi-tenant warehouse complex situated on a 4.91-acre lot in Grand Junction, Colorado. The property, built in 1981, consists of two buildings encompassing five individual units, each currently leased to a variety of tenants under long-term NNN leases. Tenants utilize the space for welding, manufacturing, and trucking operations. The warehouse features desirable amenities including 19 overhead doors, drive-through bays, and multiple crane bridges. Private offices are also included within the units. The property boasts a large, secure shared yard enclosed by chain link fencing and ample paved parking. Convenient access is provided via I-70 Business Loop and 29 Road, off North Avenue. The asking price is $2,450,000, representing a price per square foot of $78.28 and a price per unit of $490,000. The property's strong tenant base generates a Net Operating Income (NOI) exceeding $235,000, resulting in an attractive cap rate of 9.59%. Vacant space is currently advertised at $8.00 per square foot annually. The property is zoned I-1. This is a rare opportunity to acquire a well-located, income-producing industrial asset in a growing market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grand Junction
- County
- Mesa
- State
- Colorado
- Longitude
- -108.519
- Latitude
- 39.0735
