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    2249 Broadway Grand Junction, CO 81507-1157
    Property profile & analytics

    2249 Broadway, Grand Junction, CO 81507-1157

    View on Map
    • Hotels
    • 15,206 SF
    • 1.67 lot acres
    Off-Market
    Property ID
    US13-1026559
    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
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Stephen L Johnson DDS PC / Dental Office
    • Exxon / Gas Station
    • LOCO FOOD STORE 16 / Grocery & Convenience Store
    • LOCO, Inc. / Grocery & Convenience Store
    • Village Hare / Hair Salon / Nail Salon

    Property Details for 2249 Broadway

    Year built
    1984
    Construction
    WOOD
    Lot size
    1.67 lot acres
    Zone code
    B-1
    Property type
    Hotels
    APN
    2945-073-43-001
    APU
    294507343001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 18, 2012 — Sandra L Lipson Lipson III Properties LLC Quit Claim Deed · related —
    Dec 18, 2012 $1,325,000 Loco INC Lipson,sandra L Trustees Deed $2.9M · Sandra L Lipson
    Jul 31, 2009 — Lipson III Properties LLC Lipson III Properties Quit Claim Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $430,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $865,000
      6.5%
      $800,000
      7%
      $740,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $517,000
      Market price range: $270k - $849k

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.636
    Latitude
    39.0792
    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
    $21,300
    $82,340
    $226,310
    $308,650
    -
    $295,110
    $811,150
    $1,106,260

    Comparable in this City

    • Value Estimation by Request
      7,136 SF

      2463 Broadway

      HOTEL
      2463 Broadway, Grand Junction, CO 81507-1538
      View Details
    • Value Estimation
      $2,055,000
      53,402 SF

      2512 Broadway

      HOTEL
      2512 Broadway, Grand Junction, CO 81507-2758
      View Details
    • Value Estimation
      $745,000
      16,757 SF

      417 Monument Rd

      HOTEL
      417 Monument Rd, Grand Junction, CO 81507-2723
      View Details
    • Value Estimation by Request
      9.26 Acres

      Grand Junction, CO 81507

      RECREATIONAL, ENTERTAINMENT
      Grand Junction, CO 81507
      View Details
    • Value Estimation by Request
      10,404 SF

      2463 Broadway

      RECREATIONAL, ENTERTAINMENT
      2463 Broadway, Grand Junction, CO 81507-1538
      View Details
    • Value Estimation by Request
      1,040 SF

      419 Brach Dr

      WAREHOUSE, STORAGE
      419 Brach Dr, Grand Junction, CO 81507-2757
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Award-Winning Winery and Events Center

      A destination winery with event center, guest rooms, and vineyard.
      2087 S Broadway, Grand Junction, CO 81507
      View Details
    • $415,000
      1.34 Acres

      Grand Junction Homesite Opportunity

      Exceptional homesite in premier Redlands subdivision near Colorado National Monument.
      1930 Hidden Holw Ct, Grand Junction, CO 81507
      View Details
    • $135,000
      0.51 Acres

      Redlands Land with Mountain Views

      Residential land in Grand Junction with views and special financing.
      380 Elysium Dr, Grand Junction, CO 81507
      View Details
    • $3,900,000
      59.60 Acres

      Expansive Land Parcel in Grand Junction

      58.25-acre parcel with panoramic views, ideal for development.
      2085 E 1/2 Rd, Grand Junction, CO 81507
      View Details
    • $183,750
      0.34 Acres

      Residential Lot in Monument Ridge

      Building lot in a thoughtfully planned Redlands community.
      625 Manzanita Dr, Grand Junction, CO 81507
      View Details
    • $460,000
      2.17 Acres

      Land in Redlands, Grand Junction

      Homesite in the Redlands with views and outdoor access.
      1846 Riv Cyn Cir, Grand Junction, CO 81507
      View Details

    Similar Nearby for Lease

    • $905 /Mo
      54,316 SF

      Retail and Medical Center Space

      High-visibility retail and medical options with strong access and ample front parking at Monument Village Shopping Center.
      2148 Broadway, Grand Junction, CO 81507
      View Details
    • $3,643 /Mo
      54,316 SF

      Retail and Medical Space with High Visibility

      Strong Highway 340 visibility and a large front parking area support retail and medical tenant traffic at Monument Village.
      2148 Broadway, Grand Junction, CO 81507
      View Details
    • $1,135 /Mo
      54,316 SF

      Retail and Medical Courtyard Space

      Anchored by an expanding tenant lineup, the space offers strong highway frontage, visibility, and convenient front parking.
      2148 Broadway, Grand Junction, CO 81507
      View Details
    • $1,324 /Mo
      54,316 SF

      Office Space with Highway Frontage

      Office suite in Monument Village with strong access, front parking, and prominent Highway frontage.
      2148 Broadway, Grand Junction, CO 81507
      View Details
    • Contact for pricing
      724 SF

      Retail Space in Monument Village

      Retail space with highway frontage in Grand Junction, Colorado.
      C-2-2148 Broadway, Grand Junction, CO 81507
      View Details
    • $745 /Mo
      Pending

      Office and Retail Units with Signage

      High-visibility office and retail units near CMU with good parking and illuminated roof-signage options.
      1460 North Ave, Grand Junction, CO 81507
      View Details
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    2249 Broadway
    Grand Junction, CO 81507-1157
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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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