Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    22 1st St Cortez, CO 81321-3702
    Back to Search
    Property profile & analytics

    22 1st St, Cortez, CO 81321-3702

    View on Map
    • Retail space
    • 2,400 SF
    • 0.06 lot acres
    Off-Market
    Last Sale Mar 16, 2021
    $92,300
    Property ID
    US13-2141963
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 22 1st St

    Year built
    1928
    Lot size
    0.06 lot acres
    Zone code
    CBD
    Property type
    Retail space
    APN
    561126303011
    APU
    561126303011

    Description

    This exceptional 2,400 square foot retail property presents a unique opportunity in the heart of Cortez, Colorado. Situated at 22 E 1ST STREET, this historic building enjoys a highly desirable location, boasting close proximity to the Cortez Post Office and the recently revitalized Calkins Commons. The property sits on a 0.06-acre lot, offering convenient access and visibility for any business. The interior layout is well-designed to accommodate a variety of retail uses, featuring a spacious main retail area perfect for showcasing products or services. In addition to the expansive retail space, a smaller, dedicated office area is included, providing a private workspace for administrative tasks or client meetings. This versatile space allows for a seamless blend of retail operations and business management. The building's historic character adds to its charm and appeal, offering a unique aesthetic that will attract customers and enhance brand identity. The asking price for this exceptional property is $275,000. This represents a compelling investment opportunity in a thriving community with strong potential for growth and return. Don't miss the chance to own a piece of Cortez history and establish your business in this prime location. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cortez
    County
    Montezuma
    State
    Colorado
    Longitude
    -108.585
    Latitude
    37.3477

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,326
    $4,350
    $29,153
    $33,503
    -
    $15,000
    $100,529
    $115,529

    Comparable in this City

    • Value Estimation by Request
      1,745 SF

      25 Beech St

      RETAIL STORES (PERSONAL SERVICES)
      25 Beech St, Cortez, CO 81321-3751
      View Details
    • Value Estimation by Request
      2,300 SF

      9 Main St

      RETAIL STORES (PERSONAL SERVICES)
      9 Main St, Cortez, CO 81321-3133
      View Details
    • Value Estimation by Request
      3,375 SF

      27885 Hwy 160

      RETAIL STORES (PERSONAL SERVICES)
      27885 Hwy 160, Cortez, CO 81321-9365
      View Details
    • Value Estimation
      $1,040,000
      7,484 SF

      1211 Main St

      RETAIL STORES (PERSONAL SERVICES)
      1211 Main St, Cortez, CO 81321-2910
      View Details
    • Value Estimation by Request
      576 SF

      40 Main St

      RETAIL STORES (PERSONAL SERVICES)
      40 Main St, Cortez, CO 81321-3209
      View Details
    • Value Estimation
      $1,245,000
      8,951 SF

      2288 Main St Ste A

      RETAIL STORES (PERSONAL SERVICES)
      2288 Main St Ste A, Cortez, CO 81321-4234
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,380 SF

      11576 Road 24, Cortez, CO 81321

      Mixed-use properties
      11576 Road 24, Cortez, CO 81321
      View Details
    • $305,000
      1,989 SF

      Cortez Retail Space For Sale

      Retail space available in Cortez, Colorado.
      137 And 141 N Madison, Cortez, CO 81321
      View Details
    • $449,000
      9,715 SF

      Cortez Commercial Property For Sale

      Commercial property in Cortez, CO, with 9,715 square feet.
      27 S Broadway, Cortez, CO 81321
      View Details
    • Contact for pricing
      1,626 SF

      Historical Building in Cortez Business

      Historical building in prime condition with warehouse and parking.
      30 N Market St, Cortez, CO 81321
      View Details
    • Contact for pricing
      2,542 SF

      Commercial Property with Business Assets

      Commercial property with shop areas and included business equipment.
      490 S Broadway, Cortez, CO 81321
      View Details
    • Contact for pricing
      5,000 SF

      Commercial Building and Warehouse

      Commercial building and warehouse with showroom, office, and additional building.
      2415 E Empire St, Cortez, CO 81321
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    22 1st St
    Cortez, CO 81321-3702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    22 1st St, Cortez, CO, 81321
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!