Updated 3 days ago on .
π 11% Cap Rate | Historic Commercial Property in Cortez, CO | $10K Seller Concession
π 1 W. 1st Street, Cortez, Colorado
Seller offering a $10,000 concession toward closing costs with a full-price offer!
This prime downtown Cortez commercial property is just one block off Main Street and offers three units:
β’ Main building (currently vacant, last rented for $1,850/mo) with attached studio
β’ Tanning salon leased through July 2026 at $800/mo
β’ New roof (April 2025)
β’ Historic designation through the City of Cortez (tax incentives for renovation and improvement projects)
Zoned Neighborhood Commercial, allowing for professional use, residential conversion, or multifamily redevelopment (buyer to verify).
Based on current and potential rents, this property yields an 11% cap rate with strong upside through modernization or mixed-use development.
Cortez is a growing tourism and service hub near Durango, Mesa Verde National Park, and the Four Corners region, making it ideal for stable tenants and long-term appreciation.
π° Price: $289,000
π DM me or comment if you'd like more information