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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Flex space
598 23rd 12th Rd Grand Junction, CO 81505-9788
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US13-2462076
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2007
Construction
STEEL FRAME
Total area
7,788 SF
Lot
5.55 ac (241,758 SF)
Zoning code
I-1
APN
2945-081-00-033
UPID
US13-2462076
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
$905k
CAP Approach
CAP
$925k
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$975k
Owner & transaction history
James Wells · 3 yrs held
James Wells
since 2022
Last sale
$1.0M
3 recorded transactions
Zoning & alternative use
I-1 · Grand Junction, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+31.9%
Warehouse, storage
$1.2M
+9.8%
Office building
$1.1M
+4.6%
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
$980,000
ML approach
$905,000
CAP Approach
CAP Return
Estimation
6%
$1,000,000
6.5%
$925,000
7%
$855,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,045,000
Current use
COMMERCIAL (GENERAL)
$1,380,000
Change: +32% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,150,000
Change: +10% · Conversion: Easy
OFFICE BUILDING
$1,095,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$1,050,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10% · vs last sale $1.00M (Nov 17 2022)
Last sale anchor
$1.00M
Nov 17 2022
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
$125 / 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
$35,927
Tax year 2023
Assessed value
$508,140
Assessed 2023
Previous assessed
$406,200
+25.1% YoY
Effective rate
7.07%
On assessed value
Assessed land
$296,780
Assessed improvement
$211,360
Land market value
$1,063,740
Improvement market value
$757,560
Total market value
$1,821,300
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Rooms
5
Bathrooms
1
Total area
7,788 SF
Lot
5.55 ac (241,758 SF)
Zoning code
I-1
APN
2945-081-00-033
UPID
US13-2462076
Jurisdiction
MESA
Zoning & alternative use
I-1 · Grand Junction, CO
Zoning I-1 · permitted uses
I-1 · Grand Junction, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Junction. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
OFFICE BUILDING
RETAIL STORES
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
2007
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
5
Bathrooms
1
Lot
5.55 ac
Current owner
From public records · entity-resolved
James Wells
Individual
Mailing address
598 23RD 12TH RD, GRAND JUNCTION, CO 81505-9788
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2022
$1,000,000
James Wells
Peak Oilfield Services LLC
Special Warranty Deed
$700,000 · Timberline Bank
Sep 2, 2008
$2,100,000
1105 Peters Road LLC
Redlands Parkway LLC
Grant Deed
—
Apr 7, 2006
$102,500
Redlands Parkway LLC
C & K Of Mesa County LLC
Warranty Deed
$92,250 · Joan L Nesbitt
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.
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