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30 W 1st St 2,544 SF 100% Leased Office Building Cortez, CO 81321 $390,000 ($153.30/SF)
INVESTMENT HIGHLIGHTS
- Located on a corner lot with exceptional exposure.
EXECUTIVE SUMMARY
Exceptional commercial investment opportunity in the heart of Cortez, Colorado. This well-maintained freestanding office building is fully leased to long-term professional tenants, each with a tenancy history dating back to the early 1990s. All tenants are on Modified Gross Leases, providing steady income with reduced owner responsibility. The building includes three individual suites, each featuring two private offices, copy room and a restroom. Interiors have been tastefully updated with modern finishes, and the exterior showcases professional curb appeal with clean, well-maintained landscaping. Located just off Main Street, this property offers excellent visibility, easy access, and close proximity to downtown amenities. A market-stabilized vacancy factor of 5% has been applied for conservative underwriting, though the property is currently 100% occupied. At the current income level, the asset reflects a strong CAP rate of approximately 4.91% — making it an ideal, low-maintenance addition to any investor portfolio.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Office/Residential
Building Size
2,544 SF
Building Class
C
Year Built
1952
Price
$390,000
Price Per SF
$153.30
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
2,544 SF
Building FAR
0.35
Lot Size
0.17 AC
Zoning
CBD - Commercial
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | R009609 | Improvements Assessment | $60,099 |
| Land Assessment | $9,095 | Total Assessment | $69,194 |
PROPERTY TAXES
Parcel Number
R009609
Land Assessment
$9,095
Improvements Assessment
$60,099
Total Assessment
$69,194
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30 W 1st St
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