1300 E Main St, Cortez, CO 81321
- Drive through restaurants
- 1,622 SF
- 0.78 lot acres
Current Use by Public Records
- Taco Bell / Restaurant / Take-out & Catering
Property Details for 1300 E Main St
- Year built
- 1994
- Lot size
- 0.78 lot acres
- Zone code
- C
- Property type
- Drive through restaurants
- APN
- 561125215007
- APU
- 561125215007
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 2, 2023 | $2,379,500 | Emerge Restaurant Group LLC | High Desert Qsrs LLC | Special Warranty Deed | $38.2M · Wells Fargo Bank NA |
| Jul 5, 2018 | — | High Desert Qsrs LLC | — | Deed · related | $8.6M · Wells Fargo Bank NA |
| May 4, 2015 | — | High Desert Qsrs LLC | Tairas INC | Warranty Deed | — |
| Mar 23, 2015 | $800,000 | High Desert Qsrs LLC | Tairas INC | Warranty Deed | — |
Description
This exceptional investment opportunity presents a 1,622 square foot Taco Bell located at 1300 East Main Street in Cortez, Colorado. The property boasts a strong 5.00% cap rate and a substantial net operating income (NOI) of $125,000. This sale-leaseback offers a secure, long-term investment with a 15-year lease featuring built-in rent bumps of 10% every five years, providing a hedge against inflation. The tenant, a franchisee with an impressive portfolio of over 185 units across four brands, ensures a stable and reliable income stream. The property sits on a 0.78-acre lot and was built in 1994. Its prime location on East Main Street, a major thoroughfare with 20,000 vehicles per day, benefits from high visibility and significant foot traffic. Proximity to numerous hotels, RV parks, the Cortez Recreation Center, and Centennial Park further enhances its appeal. The surrounding area includes a variety of national retailers, creating a robust commercial environment. This essential-use, drive-thru restaurant is resilient to economic downturns and demonstrates a strong sales performance and healthy rent-to-sales ratio. The lease is a triple-net (NNN) lease, minimizing landlord responsibilities. This is a rare opportunity to acquire a well-established, high-performing Taco Bell with significant long-term growth potential. The property offers multiple points of entry for easy ingress and egress.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,880,000
- ML approach
- $2,080,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Cortez
- County
- Montezuma
- State
- Colorado
- Longitude
- -108.569
- Latitude
- 37.3493
