Entity Owned 
For Lease
Contact for pricing
1048 Independent Ave, Grand Junction, CO 81505
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Property summary
AI-generated overview
This exceptional flex space opportunity in Independence Plaza, Grand Junction, CO, offers a total of 66,658 square feet across two buildings. The property boasts three individual suites, with a minimum divisible space of 1,700 square feet and a maximum contiguous space of 1,700 square feet. Currently, 5,100 square feet are vacant, presenting an immediate opportunity for businesses seeking flexible space. Built in 1982 and renovated in 2018, the two-story complex sits on 4.04 acres of land and is zoned C-2. The property enjoys a high-visibility location directly across Highway 6&50 from Lowe's, Walmart, Hobby Lobby, and numerous restaurants, providing excellent exposure and convenient access. Its proximity to Sam's Club further enhances its strategic position within Grand Junction. While there are no loading docks or elevators, the property's layout is well-suited for a variety of businesses. Property taxes are $1.26 per square foot. This is a rare opportunity to secure prime commercial space in a thriving area. The property's location and flexible space options make it ideal for a range of businesses seeking a high-traffic, easily accessible location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1982
Construction
STEEL FRAME
Total area
38,832 SF
Lot
4.04 ac (175,982 SF)
Zoning code
C-2
APN
2945-103-00-146
UPID
US13-0878599
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Home Decor Store
-
Business Service Center Corporate Office
-
Spa & Massage Center Alternative Medicine Practice
-
Corporate Office
-
Employment Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.68M
CAP Approach
CAP
$6.02M
Comparable Approach
Comparable
$3.69M
Blend (final)
Blend
$4.68M
Owner & transaction history
since 2025
Last sale
$4.7M
4 recorded transactions
Zoning & alternative use
C-2 · Grand Junction, CO
Top alternative use upside
Commercial (general)
$6.9M
+26.1%
Warehouse, storage
$5.7M
+5.0%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.68M
Value range
$4.21M – $5.15M
±10% around blend
Estimated value / SF
$121 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$4.21M
blend $4.68M
$5.15M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
38,832 SF
Lot area
4.04 ac
Year built
1982
Stories
2
APN
2945-103-00-146
Zoning
C-2
Assessed value
$1,186,480
Annual tax
$83,887
3
Income approach: direct capitalization
Partial preview
Income approach indication
$6.02M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$6.53M
@ 6.5% CAP return
$6.02M
@ 7% CAP return
$5.59M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$83,887
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$3.69M
Range $3.51M – $7.72M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.68M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 40 sales
$140
-14%
County 41 sales
$140
-14%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $121/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+26%
vs current-use indication
Warehouse, Storage
Office Building · current use
Retail Stores
Industrial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
8.40%
Selected cap rate for this office buildings
Derived from the Grand Junction market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.40%
9.0%
NOI (est.)
$26k *
Last sale · Jul 2024
$4.68M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$312k
Move the market yield to see immediate price impact.
Value / SF
$8
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.90%8.40%8.90%
$24k
$298k
$281k
$265k
$26k
$331k
$312k
$294k
$29k
$365k
$343k
$324k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$83,887
Tax year 2023
Assessed value
$1,186,480
Assessed 2023
Previous assessed
$736,720
+61.0% YoY
Effective rate
7.07%
On assessed value
Assessed land
$121,770
Assessed improvement
$1,064,710
Land market value
$436,440
Improvement market value
$3,816,170
Total market value
$4,252,610
Applied tax rate
10,301.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1982
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
2
Units
1
Rooms
10
Bathrooms
8
Total area
38,832 SF
Lot
4.04 ac (175,982 SF)
Zoning code
C-2
APN
2945-103-00-146
UPID
US13-0878599
Jurisdiction
MESA
Zoning & alternative use
C-2 · Grand Junction, COZoning C-2 · permitted uses
C-2 · Grand Junction, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1982
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
1
Rooms
10
Bathrooms
8
Lot
4.04 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C-2
Jurisdiction
Grand Junction, CO
Recorded code
C-2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-2 in Grand Junction, CO.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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