🏢 11% Cap Rate | Historic Downtown Cortez CO Commercial | $10K Seller Credit

[Allison Klein]

🏢 11% Cap Rate | Historic Downtown Cortez CO Commercial | $10K Seller Credit

Address: 7 W 1st Street, Cortez, Colorado 81321
Asking Price: 💲289,000
Cap Rate: ≈ 11% (current + potential rents)
Zoning: Neighborhood Commercial
Lot / Building Type: Mixed - Use / Commercial with Residential Potential

💡 Property Highlights

• $10,000 Seller Concession toward closing costs with a full-price offer
• Prime downtown location one block off Main Street
• Three income-producing units:
  • Main building (vacant – previously $1,850 / mo) with attached studio
  • Tanning salon leased through July 2026 at $800 / mo
• New roof (Completed April 2025)
• Historic designation secured through City of Cortez → valuable tax credits + incentives for renovations
• Flexible Neighborhood Commercial zoning allows professional use, residential conversion, or multifamily development (buyer to verify)

📈 Investment Summary

Based on existing and projected rents, this asset offers:
✅ Approx. 11% cap rate
✅ Immediate cash flow + value-add potential
✅ Tax-advantaged historic status
✅ Strong tenant demand in a tight market

🌄 Why Cortez CO

Cortez sits in Southwest Colorado’s Four Corners corridor, minutes from Mesa Verde National Park, Durango, and the Ute Mountain Casino.
It’s a service and tourism hub with limited commercial inventory—ideal for investors seeking stable, smaller-market returns and long-term appreciation.

🧭 Ideal For

• Texas, Arizona, and California investors diversifying into cash-flow markets
• 1031 exchange buyers
• Developers or owner-users wanting mixed-use potential with built-in incentives

📞 Next Steps

DM me or comment below for full MLS packet and virtual tour or on-site showing details