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    244 Washington St Monument, CO 80132

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    For Sale
    $636,500

    Commercial property with two dwellings, offering flexibility and multiple income streams.

    Building Details

    Year built
    1915

    Source: LEE AND ASSOCIATES REAL ESTATE, INC. Agent STEPHANIE LEE MRP

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Monument Income-Producing Commercial Property

    Located in downtown Monument, this commercial property offers income-producing potential. The property includes two separate dwellings on a landscaped lot. The front home, approximately 1,444 square feet, contains 3 bedrooms and 1 full bath. It is currently configured as private office space, with each bedroom functioning as an individual office. A smaller flex room provides additional leasable space. The kitchen features large windows and skylights. The front home is suitable for use as a residence or a short-term rental. Tucked behind the main home is a fully updated 640-square-foot guest cottage with 1 bedroom, a loft, and a 3/4 bath. French doors open to a private courtyard. The cottage is currently operated as a short-term rental. Zoned for commercial use, the property is located within walking distance of Monument Lake, restaurants, shops, farmers markets, and concerts in the park. The property is located in a walkable district. It offers potential for expanding an investment portfolio, launching a business, or on-site living while generating income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Monument
    County
    El Paso
    State
    Colorado
    Longitude
    -104.8723864
    Latitude
    39.0921883

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    FAQs

    What type of property is this?
    Mixed-use property - Commercial property with two dwellings, offering flexibility and multiple income streams.
    Where is this mixed-use property located?
    The property is located at 244 Washington St Monument, CO.
    What is the asking price?
    The asking price for this property is $636,500.
    What are key features of this property?
    This property features: - Income-producing commercial property with two separate dwellings on one lot.; - Prime downtown Monument location, walkable to Monument Lake, restaurants, shops, and events.; - Front home (approx. 1,444 sq ft) currently configured as office space with potential for residential or short-term rental conversion.
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    Monument, CO 80132
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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
    244 Washington St Monument, CO 80132
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