Investor Special: Three Units, Two Buildings, One Exceptional Opportunity
Downtown Commercial Investment | 11%+ Pro Forma Cap Rate | Cortez, Colorado
Investor opportunity in the heart of downtown Cortez! This mixed-use commercial property offers three income-producing units across two buildings with an attractive 11%+ fully occupied pro forma cap rate and immediate value-add potential.
The primary building is currently vacant, creating an opportunity for an owner-user or investor to lease at market rents immediately. The previous tenant paid $1,850/month (including the attached studio), providing a clear path to increased cash flow. The attached studio is leased through March 2027 at $700/month, while the tanning salon is leased through July 2027 at $850/month, giving you stable in-place income from day one.
Recent capital improvements reduce near-term maintenance expenses, including a new roof installed in April 2025 and fresh exterior paint completed in June 2026 on both buildings.
One of the property's most unique features is the historic designation on the building at 7 W. 1st Street, which may provide access to valuable historic preservation tax incentives and renovation benefits for qualifying improvements.
The Neighborhood Commercial zoning offers flexibility for a variety of future uses, including professional office, residential conversion, multifamily redevelopment, or mixed-use opportunities (buyer to verify all permitted uses with the City of Cortez).
Investment Highlights
- 11%+ Pro Forma Cap Rate
- Three Units Across Two Buildings
- Immediate Value-Add Opportunity
- Existing Long-Term Tenants
- New Roof (2025)
- Fresh Exterior Paint (2026)
- Historic Tax Incentive Potential
- Flexible Neighborhood Commercial Zoning
- Prime Downtown Location One Block from Main Street
Whether you're looking to add a cash-flowing commercial asset, execute a value-add strategy, or reposition a historic downtown property, this offering checks all the boxes. With stable income already in place, significant upside in the vacant unit, and redevelopment potential, this is an investment opportunity that's increasingly difficult to find in today's market.
Call for more information
Allison 970-946-9409
Mindi 970-769-0072