1 W 1st Street – Downtown Colorado Commercial Investment | 11% Cap Rate | $10K Seller

[Allison Klein]

🏢 1 W 1st Street – Downtown Colorado Commercial Investment | 11% Cap Rate | $10K Seller Credit | Value-Add Opportunity

Address: 7 W 1st Street, Cortez, CO
Price: $289,000
Cap Rate: ~11% (current + potential rents)
Use: Commercial / Mixed-Use / Residential Conversion Potential
Zoning: Neighborhood Commercial

⭐ Why San Antonio Investors Should Look Closely at This Deal

San Antonio investors frequently seek out-of-state opportunities that offer:
✔ Strong cap rates
✔ Value-add potential
✔ Low acquisition cost compared to Texas markets
✔ Mixed-use flexibility
✔ Cash-flow + appreciation upside
✔ Properties with tax incentives

This downtown commercial property checks every box — plus it includes historic designation, providing access to significant tax breaks for renovation and improvements.

🏠 Income Breakdown

• Main building – currently vacant; previously rented at $1,850/month

  • Includes an attached studio

• Tanning salon tenant – leased through July 2026 at $800/month

• Combined current + projected rents deliver approx. 11% cap rate

• Strong demand for small commercial & mixed-use space in the downtown Cortez area

🛠️ Property Features

• New roof completed April 2025

• Historic designation approved

  • Qualifies for renovation incentives & tax benefits

• Flexible zoning allows:

  • Office

  • Retail

  • Residential conversion

  • Mixed-use

  • Small multifamily (buyer to verify)

• Located one block off Main Street

• Multiple exit strategies: lease-up, convert, redevelop, or hold as mixed-use

📈 Investor Upside & Value-Add Potential

• Vacant main building offers immediate upside with new lease or conversion

• Historic tax incentives can substantially reduce renovation costs

• Neighborhood Commercial zoning offers excellent flexibility

• In-demand location with:

  • Limited small commercial inventory

  • Consistent tenant demand

  • Strong appreciation trend for downtown properties

• Perfect for:

  • 1031 exchange buyers

  • Out-of-state commercial investors

  • BRRRR-style commercial investors

  • Investors looking for cash flow + redevelopment options

🌍 Location Benefits

• Positioned in the walkable downtown area near restaurants and services

• One block off Main Street with high traffic visibility

• Close to regional attractions including Mesa Verde, Four Corners, and Durango

• Growing interest from out-of-state buyers looking for affordable commercial inventory

💰 Seller Incentive

Seller is offering a $10,000 concession toward closing costs with a full-price offer.
Huge benefit for investors looking to lower cash-to-close and increase ROI.

📞 Request Information

Listed by:
Allison Klein & Mindi Clark
United Country Blue Sky Homes and Land

Allison 970-946-9409

Mindi 970-769-0072