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    1 Rimrock Dr Grand Junction, CO 81507
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    1 Rimrock Dr Grand Junction, CO 81507

    View on Map
    • Flex space
    • 8,985 SF
    • 1,058.00 lot acres
    Off-Market
    Property ID
    US13-0862693
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,180,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Flex space

    Property Details for 1 Rimrock Dr

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1,058.00 lot acres
    Property size
    8,985 SF
    Zone code
    9212
    Property type
    Flex space
    APN
    2949-244-00-912
    APU
    294924400912

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,155,000
      6.5%
      $1,065,000
      7%
      $990,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,363,000
      Market price range: $705k - $1.36M
      AI Estimate
      $1,113,000
      Market price range: $385k - $1.11M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,005,000
      Current use
      RESTAURANT
      $1,960,000
      Change: +95% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,420,000
      Change: +41% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,325,000
      Change: +32% Conversion: Easy
      OFFICE BUILDING
      $1,260,000
      Change: +26% Conversion: Difficult
      RETAIL STORES
      $1,215,000
      Change: +21% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.737
    Latitude
    39.0719
    CBSA code
    24300
    CBSA name
    GRAND JUNCTION, CO METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2015
    $0.00
    $2,214,900
    $553,400
    $2,768,300
    -
    $7,637,600
    $1,908,260
    $9,545,860

    Comparable in this City

    • Value Estimation
      $560,000
      4,716 SF

      2216 Broadway

      LIGHT INDUSTRIAL • 4,716 SF
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      View Details
    • Value Estimation by Request
      1,013 SF

      2300 Monument Dr

      LIGHT INDUSTRIAL • 1,013 SF
      2300 Monument Dr, Grand Junction, CO 81507-1412
      View Details
    • Value Estimation by Request
      1,013 SF

      2300 Monument Dr

      LIGHT INDUSTRIAL • 1,013 SF
      2300 Monument Dr, Grand Junction, CO 81507
      View Details
    • Value Estimation by Request
      1,040 SF

      419 Brach Dr

      WAREHOUSE, STORAGE • 1,040 SF
      419 Brach Dr, Grand Junction, CO 81507-2757
      View Details
    • Value Estimation
      $1,280,000
      17,148 SF

      351 Rosevale Rd

      WAREHOUSE, STORAGE • 17,148 SF
      351 Rosevale Rd, Grand Junction, CO 81507-1775
      View Details
    • Value Estimation by Request
      4,000 SF

      2550 Broadway

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      2550 Broadway, Grand Junction, CO 81507
      View Details

    Similar Nearby for Sale

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      Expansive Land Parcel in Grand Junction

      58.25-acre parcel with panoramic views, ideal for development.
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      Grand Junction Land with Views

      Residential land with monument views in Grand Junction, Colorado.
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      Redlands Home Site with Views

      Affordable luxury home site with stunning views in Grand Junction.
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      Residential Lot in Monument Ridge

      Building lot in a thoughtfully planned Redlands community.
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    Similar Nearby for Lease

    • $905 /Mo
      54,316 SF

      Monument Village Retail Opportunity

      Retail and medical spaces available in Monument Village Shopping Center.
      2148 Broadway, Grand Junction, CO 81507
      View Details
    • $3,643 /Mo
      54,316 SF

      Monument Village Retail Space

      Retail and medical spaces available in Monument Village Shopping Center.
      2148 Broadway, Grand Junction, CO 81507
      View Details
    • $4,548 /Mo
      54,316 SF

      Monument Village Retail Space Available

      Retail and medical spaces available in Monument Village Shopping Center.
      2148 Broadway Unit C-1&2, Grand Junction, CO 81507
      View Details
    • $1,875 /Mo
      15,400 SF

      Redlands Marketplace Retail/Office Space

      1,500 SF retail or office space in high-traffic shopping center.
      2518 Broadway, Grand Junction, CO 81507
      View Details
    • $12,749 /Mo
      54,316 SF

      Grand Junction Retail Flex Space

      Flexible retail space in Monument Village Shopping Center.
      2148 Broadway, Grand Junction, CO 81507
      View Details
    • $995 /Mo
      Pending

      Grand Junction Commercial Office/Retail Space

      Commercial office and retail units available in Grand Junction, Colorado.
      1460 North Ave, Grand Junction, CO 81507
      View Details
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    1 Rimrock Dr
    Grand Junction, CO 81507
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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
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