Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1111 Ute Ave Grand Junction, CO 81501-3652

    • Office properties & Spaces
    • 1,019 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Sep 07, 2023
    $235,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-0703287
    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.

    Current Use by Public Records

    • Vicki Dennis - VICKI CHANDLER RE/MONUMENT RIDGE PROPERTY MNGMNT / Real Estate Agency

    Property Details for 1111 Ute Ave

    Year built
    1915
    Construction
    WOOD
    Lot size
    0.14 lot acres
    Property size
    1,019 SF
    Zone code
    1212
    Property type
    Office properties & Spaces
    APN
    2945-144-36-002
    APU
    294514436002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.554
    Latitude
    39.0651
    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
    2023
    $3,298
    $15,260
    $31,380
    $46,640
    -
    $54,690
    $112,490
    $167,180

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      847 Rood Ave

      OFFICE (GENERAL) • 0.09 Acres
      847 Rood Ave, Grand Junction, CO 81501
      View Details
    • Value Estimation by Request
      2,500 SF

      2460 Main St

      Distribution properties • 2,500 SF
      2460 Main St, Grand Junction, CO 81501
      View Details
    • Value Estimation by Request
      16,395 SF

      340 North Ave

      Distribution properties • 16,395 SF
      340 North Ave, Grand Junction, CO 81501
      View Details
    • Value Estimation by Request
      29,340 SF

      2829 North Ave

      Office properties & Spaces • 29,340 SF
      2829 North Ave, Grand Junction, CO 81501
      View Details
    • Value Estimation by Request
      2,317 SF

      1021 Main St

      OFFICE (GENERAL) • 2,317 SF
      1021 Main St, Grand Junction, CO 81501-3540
      View Details
    • Value Estimation by Request
      1,288 SF

      615 White Ave

      OFFICE (GENERAL) • 1,288 SF
      615 White Ave, Grand Junction, CO 81501-2745
      View Details

    Similar Nearby for Sale

    • $2,300,000
      3.00 Acres

      Grand Junction Commercial Land Opportunity

      3+/- acre commercial land with utility building in Grand Junction.
      435 4Th Ave, Grand Junction, CO 81501
      View Details
    • $4,050,000
      19,870 SF

      Multi-Tenant Office Building Investment

      Well-maintained office property with long-term tenants and income growth.
      700 Belford Ave, Grand Junction, CO 81501
      View Details
    • Contact for pricing
      13,308 SF

      Office/Warehouse Property with Income Potential

      Office/warehouse property with redevelopment or owner/user opportunity.
      2801 Grand Ave, Grand Junction, CO 81501
      View Details
    • $4,050,000

      Multi-Tenant Office Investment Opportunity

      Well-maintained office property with stable occupancy in Grand Junction, CO.
      700 Belford Ave, Grand Junction, CO 81501
      View Details
    • $319,000
      1,450 SF

      Retail and Warehouse Space Available

      Mixed-use property with retail and warehouse space in prime location.
      752 North Ave, Grand Junction, CO 81501
      View Details
    • $625,000

      Downtown Grand Junction Office Space

      2,501 sq.ft. office in Grand Junction's vibrant downtown.
      300 Main St, Grand Junction, CO 81501
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      31,296 SF

      I-70 Business Loop Retail Center

      Multi-tenant retail/office space, 5 units available
      2872 I-70Bl, Grand Junction, CO 81501
      View Details
    • Contact for pricing

      Professional Office Space Available

      Office space for lease with patio and lake access.
      1601 Riverfront Dr, Grand Junction, CO 81501
      View Details
    • $795 /Mo
      9,510 SF

      Class A Executive Office Space

      All-inclusive executive office space at The Vault in Grand Junction.
      2755 North Ave, Grand Junction, CO 81501
      View Details
    • $795 /Mo
      9,510 SF

      Class A Executive Office Space

      All-inclusive executive office space at The Vault building.
      2755 North Ave, Grand Junction, CO 81501
      View Details
    • $595 /Mo
      9,510 SF

      Class A Executive Office Space

      All-inclusive Class A executive office space at The Vault.
      2755 North Ave, Grand Junction, CO 81501
      View Details
    • $790 /Mo
      5,964 SF

      Grand Junction Corner Office Suite

      Well-maintained corner office suite in central Grand Junction location.
      800 Belford Ave, Grand Junction, CO 81501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1111 Ute Ave
    Grand Junction, CO 81501-3652
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!