25
See all 25 photos
$375,000
Est. payment /mo
3 Baths
3,181 SqFt
Price Dropped by $15K
30 W 1st Street Cortez, CO 81321
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Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 3,181 sqft
Price per Sqft $117
Subdivision Cortez
MLS Listing ID 822843
Year Built 1952
Annual Tax Amount $4,731
Tax Year 2025
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type Office
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.
Location
State CO
County Montezuma
Interior
Heating Forced Air
Cooling Forced Air
Flooring Carpet, Laminate, Vinyl
Furnishings Unfurnished
Exterior
Parking Features On Street, 2 Hour Parking Only
Utilities Available Electric, Internet, Natural Gas, Phone, Sanitary Sewer, Water
Roof Type Metal
Building
Story 1
Foundation Crawl Space, Slab
Sewer Public Sewer Installed
Water Public
New Construction No
Listed by Century 21 West Slope Realty
NEARBY SCHOOL & BUSINESS
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