2935 Patterson RdGrand Junction, CO 81504

Property Details for 2935 Patterson Rd

Year built

1971

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.68 AC

Property size (Sq ft)

5,920 SF

Zone code

R-0

Property type

Specialty properties

APN

2943-082-60-004

APU

294308260004

Description

This exceptional mixed-use property at 2935 Patterson Road in Grand Junction, Colorado, presents a compelling investment opportunity. Priced at $844,000, this 5,876 square foot building sits on a 0.68-acre lot and boasts a highly desirable location with excellent visibility and direct access to Patterson Road. The building, constructed in 1971 and classified as Class B, features two stories and offers a versatile layout suitable for a variety of uses. The main level showcases an open floor plan, ample picture windows, private entrances, and separate men's and women's restrooms. The lower level includes offices, two break rooms, ADA-compliant access, and a private entrance. The property includes paved and gravel parking areas, providing ample parking for tenants and visitors. A key advantage is the prominent pole signage along Patterson Road, enhancing visibility and attracting potential customers. The MU-1 zoning allows for a wide range of uses, including residential, commercial, and many other possibilities, such as single-family residences, multi-family dwellings, group living facilities, daycare centers, community assembly spaces, funeral homes, vocational trade schools, medical/dental clinics, animal care facilities, brew pubs/distilleries, restaurants, mobile food vendors, offices, personal service businesses, and small retail sales and service establishments. This property offers a unique blend of functionality, location, and zoning flexibility, making it an ideal investment for owner-users or investors seeking a high-return opportunity in a thriving market. The price per square foot is among the lowest on Patterson Road, representing a significant value proposition. The property's features, combined with its strategic location and flexible zoning, make it an attractive prospect for a diverse range of potential uses.

• CAP approach

  CAP return

  Valuation

  6%

  $1,233,010

  6.5%

  $1,138,160

  7%

  $1,056,870

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,204,750

  Geo Method

  $489,110

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,214,200

  Retail / Commercial

  $1,140,640

  Mixed-Use / Specialty

  $1,140,670

  Hospitality / Lodging

  $842,211

  Office

  $1,138,160

  Institutional / Educational

  $1,187,300

  Residential Income

  $1,389,140

  Multifamily

  $1,643,330

  Automotive / Energy

  $1,017,690

  Parking / Income-Based Land

  $347,141

  Restaurant / Food Service

  $602,022

  Healthcare / Senior Housing

  $1,165,530

Location Insight

City

Grand Junction

County

Mesa

State

Colorado

Latitude

39.0913

Longitude

-108.509

CBSA code

24300

CBSA name

GRAND JUNCTION, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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