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Property profile & analytics
FOR LEASE
Community centers
120 W Park Dr Grand Junction, CO 81505
Entity Owned
2-yr Hold
Free & Clear
Property ID
US13-1171830
For Lease
1 / 23
$3,375/Mo
120 W Park Dr, Grand Junction, CO 81505
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2008
Construction
STEEL FRAME
Total area
68,229 SF
Lot
2.48 ac (107,985 SF)
APN
2945-101-59-001
UPID
US13-1171830
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Enstrom Candies Corner Square Specialty Food Shop Candy Store
-
BBSI Grand Junction Employment Agency
-
Tetra Tech Engineering Consultant
-
Maxim 4000, LLC Property Management Company Apartment Rental Agency
-
First Watch Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.10M
Owner & transaction history
Hill Holding LLC · 2 yrs held
Hill Holding LLC
since 2024
Last sale
$10.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.7M
+292.0%
Commercial (general)
$10.2M
+272.0%
Office building
$7.0M
+154.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Grand Junction submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Junction submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$10,100,000
ML approach
$10,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$10,710,000
Change: +292% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,160,000
Change: +272% · Conversion: Easy
OFFICE BUILDING
$6,955,000
Change: +155% · Conversion: Moderate
RESTAURANT
$6,790,000
Change: +149% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,335,000
Change: +132% · Conversion: Difficult
Blend value · Realmo final
$10.10M
Range $9.09M – $11.11M · ±10% · vs last sale $10.10M (Jun 11 2024)
Last sale anchor
$10.10M
Jun 11 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$148 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$205,041
Tax year 2023
Assessed value
$2,900,080
Assessed 2023
Previous assessed
$2,900,080
+0.0% YoY
Effective rate
7.07%
On assessed value
Assessed land
$284,690
Assessed improvement
$2,615,390
Land market value
$1,020,380
Improvement market value
$9,374,170
Total market value
$10,394,550
Applied tax rate
10,301.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
6
Total area
68,229 SF
Lot
2.48 ac (107,985 SF)
APN
2945-101-59-001
UPID
US13-1171830
Jurisdiction
MESA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$10.7M
COMMERCIAL (GENERAL)
Est. value
$10.2M
OFFICE BUILDING
Est. value
$7.0M
RESTAURANT
Est. value
$6.8M
INDUSTRIAL (GENERAL)
Est. value
$6.3M
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
6
Lot
2.48 ac
Current owner
From public records · entity-resolved
Hill Holding LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2389 MARIPOSA DR, GRAND JUNCTION, CO 81507-1616
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2024
—
Hill Holding LLC
Hill Holdings LLC
Intrafamily Transfer
related
—
Apr 11, 2022
—
Merino Building LLC
Corner Square Owner S Association I
Quit Claim Deed
related
—
Nov 6, 2020
—
Secrest & Whittington Partners
Redlands Three Sixty LLC
Warranty Deed
related
—
Oct 2, 2019
$10,100,000
Merino Building LLC
F & P Office Building LLC
Warranty Deed
$7,100,000 · Wells Fargo Bank NA
Sep 24, 2018
—
F & P Office LLC
—
Trustees Deed
related
$100,000 · J Richard Livingston
Aug 25, 2014
—
F & P Office Building LLC
—
Loan Modification
related
$8,397,778 · Wells Fargo Bk
Mar 7, 2012
—
F & P Office Building LLC
—
Deed Of Trust
related
$8,671,449 · Wells Fargo Bank
—
—
F & P Office Building LLC
—
Loan Modification
related
$8,495,233 · Wells Fargo Bk
—
—
F & P Office Building LLC
—
Deed Of Trust
related
$8,900,000 · Wells Fargo Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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