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    605 1St St Montrose, CO 81401

    For Sale
    $365,000

    Prime Location, Office & Apartment

    Property size:
    2,231 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional mixed-use property at 605 & 605 1/2 N 1st Street in Montrose, CO, presents a unique investment opportunity. The 2,231 square foot building sits on a 0.12-acre lot and offers a blend of commercial and residential space. The main level comprises a spacious office area, perfect for a variety of businesses. This level includes ample room for multiple desks, a private office, a full bathroom, and a convenient kitchen area. Upstairs, a completely separate two-bedroom, one-bathroom apartment provides additional income potential or comfortable living quarters. The property features excellent curb appeal, enhanced by mature trees and a well-maintained lawn. Its prime location places it within easy walking distance of numerous retail shops and restaurants, ensuring high visibility and convenient access to local amenities. The building also includes a basement, offering additional storage or potential for expansion. Priced at $365,000, this property offers a compelling combination of commercial and residential income streams in a desirable Montrose location. This is an ideal opportunity for an investor seeking a versatile and well-situated property with strong potential for return.

    Property Features for 605 1St St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    2,231 SF
    Lot Size
    5,227 SF

    Building Details

    Year Built
    1905
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Aspen Ridge Insurance Insurance Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Montrose
    County
    Montrose
    State
    Colorado
    Longitude
    -107.8754
    Latitude
    38.48205

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Location, Office & Apartment
    Where is this mixed-use property located?
    The property is located at 605 1St St Montrose, CO.
    What is the asking price?
    The asking price for this property is $365,000.
    Request Owner's contact information
    605 1St St Montrose, CO 81401
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    Montrose, CO 81401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    605 1St St Montrose, CO 81401
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