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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3202 Springfield Rd Grand Junction, CO 81503

    • Flex space
    • 6,000 SF
    • 8.27 lot acres
    For Lease
    View listing
    $275 SF/Yr
    Last Sale
    Sep 04, 2024
    $1,050,000
    Value Estimations
    $1,050,000
    Cap Rate Potential
    4.4%
    Flex space
    Location Intelligence
    Property ID
    US13-2372258
    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

    • Upland Companies Inc / Construction Company / Excavating Contractor

    Property Details for 3202 Springfield Rd

    Year built
    2008
    Construction
    STEEL FRAME
    Lot size
    8.27 lot acres
    Property size
    6,000 SF
    Zone code
    C-2
    Property type
    Flex space
    APN
    2943-352-01-001
    APU
    294335201001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,050,000
      ML approach
      $1,050,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $770,000
      6.5%
      $710,000
      7%
      $660,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $670,000
      Current use
      RESTAURANT
      $1,310,000
      Change: +95% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $945,000
      Change: +41% Conversion: Difficult
      WAREHOUSE, STORAGE
      $885,000
      Change: +32% Conversion: Easy
      OFFICE BUILDING
      $845,000
      Change: +26% Conversion: Difficult
      RETAIL STORES
      $810,000
      Change: +21% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Grand Junction
    County
    Mesa
    State
    Colorado
    Longitude
    -108.458
    Latitude
    39.029
    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
    $11,170
    $41,210
    $118,760
    $159,970
    -
    $147,700
    $425,670
    $573,370

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      3229 Springfield Rd

      LIGHT INDUSTRIAL • 2,400 SF
      3229 Springfield Rd, Grand Junction, CO 81503-2430
      View Details
    • Value Estimation by Request
      2,550 SF

      2695 Unaweep Ave

      LIGHT INDUSTRIAL • 2,550 SF
      2695 Unaweep Ave, Grand Junction, CO 81503-1887
      View Details
    • Value Estimation
      $560,000
      4,588 SF

      2724 Hwy 50

      LIGHT INDUSTRIAL • 4,588 SF
      2724 Hwy 50, Grand Junction, CO 81503-2292
      View Details
    • Value Estimation by Request
      6,000 SF

      444 Grand Mesa Ave

      LIGHT INDUSTRIAL • 6,000 SF
      444 Grand Mesa Ave, Grand Junction, CO 81503-1872
      View Details
    • Value Estimation by Request
      1,800 SF

      3061 Hwy 50

      LIGHT INDUSTRIAL • 1,800 SF
      3061 Hwy 50, Grand Junction, CO 81503-9674
      View Details
    • Value Estimation by Request
      3,510 SF

      2757 Hwy 50

      LIGHT INDUSTRIAL • 3,510 SF
      2757 Hwy 50, Grand Junction, CO 81503-2398
      View Details

    Similar Nearby for Sale

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      6.77 Acres

      Aspen Street Development Land

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      0 Tbd Aspen St, Grand Junction, CO 81503
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    • $870,000
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      Grand Junction Commercial Land - $870K

      Prime 1.05-acre retail pad site in Grand Junction, CO.
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    • $125,000
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      Residential Lot in Spyglass Ridge

      0.25-acre lot ready for a custom dream home.
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    • $168,000
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      Residential Lot with Mountain Views

      Vacant lot in Spyglass Ridge with community amenities.
      192 Gunnison Ridge Ct, Grand Junction, CO 81503
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    • $95,000
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      Residential Land in Grand Junction

      Convenient location with easy access to downtown Grand Junction.
      257 Sasha St, Grand Junction, CO 81503
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    • New
      $68,000
      Pending

      Residential Land in Spyglass Ridge

      0.29-acre lot with views and community amenities.
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    Similar Nearby for Lease

    • $5,100 /Mo
      62,171 SF

      Grand Junction Commercial Space Available

      Commercial/industrial space for lease with high ceilings and drive-in bay.
      287 27 Rd, Grand Junction, CO 81503
      View Details
    • $1,450 /Mo
      16,824 SF

      Furnished Commercial Space in Orchard Mesa

      Versatile commercial space in a high-traffic shopping center.
      2692 Highway 50, Grand Junction, CO 81503
      View Details
    • $22,200
      1 SF

      Grand Junction Industrial Lot

      2.57 Acres, I-1 Zoning, Level & Graded
      3226 Springfield Rd, Grand Junction, CO 81503
      View Details
    • $275 SF/Yr

      Commercial Land on Corner Lot

      Commercial land for lease with security features and easy access.
      3202 Springfield Rd, Grand Junction, CO 81503
      View Details
    • $1,750 /Mo
      15,970 SF

      Retail Space in Meridian Park

      Retail space with highway visibility in Orchard Mesa.
      230 Lynwood St, Grand Junction, CO 81503
      View Details
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    3202 Springfield Rd
    Grand Junction, CO 81503
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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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