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30 W 1st Street, Cortez, CO 81321
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$400,000
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Home Details for 30 W 1st Street
Price
$400,000
Type
Commercial/Industrial
Year Build
1952
Sq. Ft.
3181
Lot Size
0.16
County
Montezuma
Basement
Crawl Space
Tax
$4,731.92
MLS®️ Listing#
822843
On exitrealty.com
286 days
Property 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.
- Heating Information
- Forced Air
- Natural Gas
- Water Features
- Public
- Utilities
- Natural Gas Available
- Parking
- On Street
- Basement
- Crawl Space
Listing Courtesy: Century 21 West Slope Realty
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Date Last Updated 2025-04-14 02:15:24
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Market statistics compiled from data from Colorado Real Estate Network.
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