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Property profile & analytics
FOR SALE
Apartment buildings
501 Independent Ave Grand Junction, CO 81505
Entity Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US13-0037221
For Sale
1 / 27
$2,900,000
501 Independent Ave, Grand Junction, CO 81505
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2001
Construction
WOOD
Total area
1,056 SF
Lot
1 ac (43,560 SF)
APN
2945-104-00-033
UPID
US13-0037221
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Independent Property LLC · 20 yrs held
Independent Property LLC
since 2005
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,214
Tax year 2023
Assessed value
$102,030
Assessed 2023
Previous assessed
$85,560
+19.2% YoY
Effective rate
7.07%
On assessed value
Assessed land
$14,870
Assessed improvement
$87,160
Land market value
$221,980
Improvement market value
$1,300,860
Total market value
$1,522,840
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
2001
Construction
WOOD
Heating
HOT WATER
Cooling
YES
Buildings
5
Stories
2
Units
1
Rooms
5
Bathrooms
2
Total area
1,056 SF
Lot
1 ac (43,560 SF)
APN
2945-104-00-033
UPID
US13-0037221
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
Building & site characteristics
From public records
Year built
2001
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
5
Units
1
Rooms
5
Bathrooms
2
Lot
1 ac
Current owner
From public records · entity-resolved
Independent Property LLC
Entity
Mailing address
290 CHINLE CT, GRAND JUNCTION, CO 81507-2551
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2005
$1,050,000
Independent Property LLC
Monument View LLC
Warranty Deed
$840,000 · Wells Fargo Bank NA
Dec 31, 2003
—
Monument View LLC
Blehm,david L & Darla S
Grant Deed
related
—
Oct 7, 2003
$900,000
David L Blehm
Alpine Building Servies INC
Grant Deed
$653,643 · Alpine Bank
Apr 20, 1999
$50,000
Alpine Building Services INC
Karp,john I
Grant Deed
—
—
—
Independent Property LLC
—
Loan Modification
related
$777,662 · Wells Fargo Bk
—
—
Independent Property LLC
—
Deed Of Trust
related
$840,000 · 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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