30 W 1ST Street Cortez, CO 81321

Building Details

Year Built

1952

Listing agency Century 21 West Slope Realty j***@thewittgroup.net Show Phone

Listed by Jason Witt

Source Xome

Added: Aug 14, 2024 Updated: Jul 23 at 12:47AM Checked: Jul 23 at 12:47AM

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Investment Insights

Based on property information with market context.

This well-maintained freestanding office building is set up for multiple tenants, with three individual suites. Each suite includes two private offices, a copy room, and a restroom. The interiors have been tastefully updated with modern finishes, and the exterior is maintained with clean landscaping and professional curb appeal.

The property is located just off Main Street in Cortez, Colorado, offering visibility and easy access to downtown amenities.

According to the offering remarks, all suites are currently 100% occupied by long-term professional tenants with tenancy history dating back to the early 1990s. Tenants are on Modified Gross Leases. A market-stabilized vacancy factor of 5% has been applied for conservative underwriting, and the current income level reflects an approximate 4.91% CAP rate.

Key Highlights

• Freestanding office building in Cortez, CO built in 1952
• Three leased suites (100% occupied); tenants have tenancy history dating to the early 1990s
• Each suite includes two private offices plus a copy room and a restroom

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FAQs

What type of property is this?

Office building - Freestanding office building in Cortez with three leased suites, each offering two private offices, a copy room, and a restroom.

Where is this office building located?

The property is located at 30 W 1ST Street Cortez, CO.

What is the asking price?

The asking price for this property is $390,000.

What are key features of this property?

This property features: Freestanding office building in Cortez, CO built in 1952; Three leased suites (100% occupied); tenants have tenancy history dating to the early 1990s; Each suite includes two private offices plus a copy room and a restroom