1300 E Main St Cortez, CO 81321
For Sale
1 / 5
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.
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Taco Bell Restaurant Take-out & Catering
C General Commercial District NB Neighborhood Business District I Industrial O Open District PUD Planned Unit Development Section 3.03 Residential Zone Districts Cortez Land Use Code Update Chapter 3 | Page 3-3 Cortez Land Use Code thereof. Where uncertainty exists as to the boundaries of districts as shown on the Official Zoning Maps, the following rules sh…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
C · Cortez, COC General Commercial District NB Neighborhood Business District I Industrial O Open District PUD Planned Unit Development Section 3.03 Residential Zone Districts Cortez Land Use Code Update Chapter 3 | Page 3-3 Cortez Land Use Code thereof. Where uncertainty exists as to the boundaries of districts as shown on the Official Zoning Maps, the following rules shall apply: 1. Boundaries indicated, as approximately following streets, highways or alleys shall be construed to follow the centerline of such street, highway or alley. 2. Boundaries indicated, as approximately following platted lot lines shall be construed as following such lines. 3. Boundaries indicated, as approximately following City limits shall be construed as following City limits. 4. Boundaries indicated as approximately following the centerline of irrigation ditches or drainage ways shall be construed to follow such centerline. 5. Boundaries indicated as parallel to or extensions of features indicated in this Subsection shall be so construed. Distances not specifically indicated on the original zoning map shall be determined from the graphic scale on the map. 6. Whenever any street, alley, or other public way is vacated by official action of the City Council, the zoning district line adjoining each side of such street, alley or other public way shall be automatically extended to the centerline of such vacated street, alley or way, and all area so involved shall then and henceforth be subject to all regulations of the extended districts. 3.02.3 Zoning of Annexed Territory. A. All territory hereafter annexed to the City shall apply for the appropriate Zone District at the time of annexation per the procedure established by this Code for Zoning Amendments. B. All City approvals, such as a site development plan or building permit, must be obtained before construction. 3.03 Residential Zone Districts 3.03.1 Purpose. A. Residential Zone Districts. In order to secure for the persons who reside there a comfortable, healthy, safe, walkable and pleasant environment in which to live, sheltered from incompatible and disruptive activities and to encourage a diversity of housing options, the following residential districts are established. B. Zone Districts 1. Residential Estate District (RE) - Legacy Zone District 2. Residential Single-Family District (R-1) 3. Residential Multi-Family District (R-2)
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
