1 W 1st Street #7 W 1st Street, Cortez, CO 81321
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1 W 1st Street #7 W 1st Street, Cortez, CO 81321
1 W 1st Street #7 W 1st Street, Cortez, CO 81321
1 W 1st Street #7 W 1st Street, Cortez, CO 81321
1 W 1st Street #7 W 1st Street, Cortez, CO 81321
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Lee Roufa

Lee Roufa

+1(970) 729-0526
$ 289,000
Est. payment /mo
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1 W 1st Street #7 W 1st Street Cortez, CO 81321

3 Baths

2,610 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi-Use

Listing Status Active

Purchase Type For Sale

Square Footage 2,610 sqft

Price per Sqft $110

Subdivision Cortez Original

MLS Listing ID 836302

Year Built 1922

Tax Year 2026

Lot Size 6,969 Sqft

Acres 0.16

Property Sub-Type Multi-Use

Property 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.

Location

State CO

County Montezuma

Interior

Heating Forced Air, Heat Pump, Other

Cooling Central A/C, Other

Flooring Carpet, Laminate, Vinyl

Furnishings Unfurnished

Exterior

Parking Features On Street, Off Street, 2-10 Total Spaces

Utilities Available Electric, Internet, Natural Gas

Roof Type Metal,Other

Building

Story 1

Foundation Crawl Space, Other, Slab, Stone

Sewer Public Sewer Installed

Water Public

New Construction No

Colorado Real Estate Network (CREN) + Sold
Listed by United Country Blue Sky Homes and Land

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Lee Roufa

Lee Roufa

Broker License Partner Engel & Volkers Telluride | License ID: ec100033234

+1(970) 729-0526

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1 W 1st Street #7 W 1st Street