573 Crete CirGrand Junction, CO 81505

Property Details for 573 Crete Cir

Year built

2006

Construction

STEEL FRAME

Property size (Sq ft)

4,387 SF

Zone code

C-2

Property type

Grocery and convenience stores

APN

2945-102-58-003

APU

294510258003

Description

This exceptional Grand Junction investment opportunity presents a 20,639 square foot, multi-tenant building situated on one acre at 573 W Crete Cir, 81505. The property, zoned C-2, features a blend of traditional office and warehouse space, ideal for diverse business needs. The two-story building boasts 10,787 square feet of well-appointed office space and a 9,852 square foot warehouse area with six 14-foot overhead doors. Constructed of durable cinder block, the building is complemented by attractive landscaping and ample off-street parking. The property enjoys a highly convenient location, offering easy access to major roadways. Currently operating at 100% occupancy with a modified lease structure, this Class B property is priced at $2,307,000, representing an attractive 8.50% cap rate. The flexible layout allows for various office and warehouse space combinations, catering to a wide range of tenants. This is a turnkey investment opportunity with strong potential for future growth and return.

• CAP approach

  CAP return

  Valuation

  6%

  $1,185,148

  6.5%

  $1,093,982

  7%

  $1,015,841

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,249,803

  Geo Method

  $913,384

• Alternative Use

  Use

  Valuation

  Residential

  $922,815

  Hospitality

  $845,294

  Educational

  $703,274

  Medical

  $727,461

  Retail

  $1,093,982

Location Insight

City

Grand Junction

County

Mesa

State

Colorado

Latitude

39.0876

Longitude

-108.584

CBSA code

24300

CBSA name

GRAND JUNCTION, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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