$400,000
( $125.75Per Sq Foot )
 $2,147 est/mo Sourced by Back At You

30 W 1st Street , Cortez, CO 81321

Cortez, CO 81321

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Description

Exceptional commercial investment opportunity in the heart of Cortez, Colorado. This well-maintained freestanding office building is fully leased to long-term professional tenants, each with a tenancy history dating back to the early 1990s. All tenants are on Modified Gross Leases, providing steady income with reduced owner responsibility. The building includes three individual suites, each featuring two private offices, copy room and a restroom. Interiors have been tastefully updated with modern finishes, and the exterior showcases professional curb appeal with clean, well-maintained landscaping. Located just off Main Street, this property offers excellent visibility, easy access, and close proximity to downtown amenities. A market-stabilized vacancy factor of 5% has been applied for conservative underwriting, though the property is currently 100% occupied. At the current income level, the asset reflects a strong CAP rate of approximately 4.91% making it an ideal, low-maintenance addition to any investor portfolio.

Details

MLS#822843
Listing TypeFor Sale
StyleOffice Building
Building Name3 Independent Businesses
Sub-TypeResale
StatusActive
Year1952
Days On Site10
Listing Provided ByCentury 21 West Slope Realty | Jason Witt

Features

Bath(s)3
SQ Feet3,181
BasementY
Story(s)1
Units3
ZoningBusiness,Commercial,Office
Acreage0.16

Market Activity 81321

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Listings Checked: 4 minutes ago
StateCO
CountyMontezuma
CityCortez
Zip Code81321
AreaCortez
Community NameCortez
Listing VS Median (In Cortez)
Price:
$400,000
low | high
Med:
$307,500
73.125% of Average
SqFt:
3,181
low | high
Med:
2,086
84.438855705753% of Average
$ / SqFt:
$126
low | high
Med:
$171
13.647095959596% of Average
On site:
10
low | high
Med:
17.000000
58.823529411765% of Average
Sourced by Back At You
Listing Updated: April 14, 2025 at 2:06:04 AM PDT