504 Main St Grand Junction, CO 81501-2608
- Turn key restaurants
- 3,915 SF
- 0.07 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 504 Main St
- Year built
- 1890
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.07 lot acres
- Property size
- 3,915 SF
- Zone code
- B-2
- Property type
- Turn key restaurants
- APN
- 2945-143-17-023
- APU
- 294514317023
Description
This exceptional mixed-use property at 504 Main Street, Grand Junction, Colorado, presents a unique investment opportunity. The 3,038 square foot building, constructed in 1890 and renovated in 1985, sits on a 0.99-acre lot and is currently vacant. Its permitted zoning is MU-3, allowing for diverse uses. The building's history as a restaurant is evident in existing features such as a partial mechanical hood and two ADA-compliant bathrooms. The wide-open floor plan offers flexibility for a variety of concepts, from a restaurant or storefront to creative office space. Its prime downtown location on Main Street ensures high visibility and foot traffic, benefiting from the vibrant atmosphere of neighboring retail shops, restaurants, and bars. The property's single story design and existing infrastructure provide a solid foundation for a new business venture. This landmark building offers a chance to capitalize on Grand Junction's growth and create a thriving establishment in a bustling area. The expansive space and adaptable layout make it ideal for entrepreneurs seeking a high-impact location. The property is for sale by owner and presents a blank canvas for your vision. The asking price is $697,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $465,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $555,000
- 6.5%
- $505,000
- 7%
- $515,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $455,000
- Geo Method
- $550,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $535,000
- Retail
- $510,000
- Mixed-Use
- $490,000
- Hospitality
- $545,000
- Educational
- $460,000
- Residential Income
- $550,000
- Energy
- $420,000
- Income-Based Land
- $500,000
- Food Service
- $530,000
Location Insight
- Map
- Local Demand
- City
- Grand Junction
- County
- Mesa
- State
- Colorado
- Longitude
- -108.564
- Latitude
- 39.0676
- CBSA code
- 24300
- CBSA name
- GRAND JUNCTION, CO METROPOLITAN STATISTICAL AREA