1 W 1st Street,Cortez, CO 81321
Cortez, CO 81321
Description
Prime downtown Cortez commercial investment one block off Main Street. Three units across two buildings with a fully occupied pro forma cap rate of 11.0%+. The main building is currently vacant and was last leased at $1,850/month(this included the studio), offering immediate opportunity to add value and maximize returns. The attached studio is leased through March 2027 at $700/month and the tanning salon through July 2027 at $850/month. New roof on the main building completed April 2025 and fresh exterior paint on both buildings as of June 2026. The 7 W. 1st Street building carries a City of Cortez historic designation, unlocking valuable tax incentives and renovation benefits. Zoned Neighborhood Commercial with flexibility for professional, residential, or multifamily use, subject to buyer due diligence. Steady current income, upside in the vacant unit, tax advantages, and redevelopment potential all in one package. Opportunities like this in downtown Cortez don't come around often.
Details
| MLS # | 836302 |
|---|---|
| Listing Type | For Sale |
| Style | Mixeduse |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 77 |
| Listing Provided By | United Country Blue Sky Homes and Land | Mindi Clark |
Features
| Bath(s) | 3 |
|---|---|
| SQ Feet | 2,610 |
| Basement | Y |
| Story(s) | 1 |
| Units | 3 |
| Zoning | Business,Commercial,Mixed Use,Of |
| Acreage | 0.16 |
Interior
| Cooling Yes / No | Yes |
|---|---|
| Cooling | Central Air, Other |
| Heating Yes / No | Yes |
| Heating | Electric, Forced Air, Heat Pump, Natural Gas, Other |
| Furnished | Unfurnished |
Exterior
| Roof | Metal, Other |
|---|---|
| Foundation Details | Crawlspace, Other, Slab, Stone |
| Lot Features | Corner Lot |
Parking
| Parking Features | Off Street, Parking Spaces, On Street |
|---|
Utilities
| Utilities | Electricity Connected, Natural Gas Available, High Speed Internet Available |
|---|
Other
| List Aor | Four Corners Board Of Realtors |
|---|
Area Information
| State | CO |
|---|---|
| County | Montezuma |
| City | Cortez |
| Zip Code | 81321 |
| Area | Cortez |
| Community Name | Cortez Original |
| Listing VS Median (in Cortez Original) | |
Price: $289,000 low | high Med: $275,000 sqft: 2,610 low | high Med: 2,028 $ / sqft: $111 low | high Med: $136 On site: 77 low | high Med: 129 | |
Market Activity 81321
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Learn More About This Property
| State | CO |
|---|---|
| County | Montezuma |
| City | Cortez |
| Zip Code | 81321 |
| Area | Cortez |
| Community Name | Cortez Original |
| Listing VS Median (in Cortez Original) | |
Price: $289,000 low | high Med: $275,000 sqft: 2,610 low | high Med: 2,028 $ / sqft: $111 low | high Med: $136 On site: 77 low | high Med: 129 | |
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