403 Kennedy Ave Grand Junction, CO 81501
- Retail properties
- 4,590 SF
- 0.33 lot acres
Current Use by Public Records
- Benak Susan G DDS / Dentist
- Cary Jeannine M / Massage Therapist
- Farmers Union Insurance: Erin Bishop Insurance / Insurance Agency
- Farmers Union Insurance: Atchley David / Insurance Agency
- Columbine Realty & Property Management, Inc. / Property Management Company
Property Details for 403 Kennedy Ave
- Year built
- 1956
- Lot size
- 0.33 lot acres
- Property size
- 4,590 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional Grand Junction investment opportunity presents a 4,590-square-foot, multi-tenant office building situated on 0.33 acres at 403 Kennedy Ave, 81501. The property, built in 1956 and extensively renovated in 2018, boasts five leased units with 100% occupancy, generating a 6.10% capitalization rate based on net operating income. The building features 20 parking spaces and is conveniently located on Sherwood Park. Interior and exterior renovations in 2018 included major mechanical upgrades, ADA-compliant bathrooms and entrances. The MU-1 zoning allows for a variety of uses (refer to associated documents for details). This is an owner-user opportunity, allowing for the potential to occupy one or more units while continuing to lease the remaining space. The asking price is $875,000. No signage or community improvement district (CID) fees are associated with this property. Showings are by appointment only.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grand Junction
- County
- Mesa
- State
- Colorado
- Longitude
- -108.566
- Latitude
- 39.0799
