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.
-
0BEDS
-
0.16ACRES
-
0BATHS
-
01/2 BATHS
-
2,610SQFT
-
$111$/SQFT
School Ratings & Info
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.
![[Colorado Real Estate Network] logo](https://static.boomtownroi.com/content/photos/CREN/idx/idx-large.gif)
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2026. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer
Real Estate listings held by companies other than Destination DRO Real Estate Group contain that company’s name.
Fair Housing Disclaimer
This data was last updated: 2026-07-19T23:56:25.713.