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Property profile & analytics
OFF-MARKET
Distribution properties

490 Broadway Cortez, CO 81321-3426

2,542 SF 0.28 ac lot Built 1990
Individually Owned 4-yr Hold Free & Clear
Property ID
US13-1951911
Property summary
AI-generated overview

This exceptional mixed-use commercial property in Cortez, Colorado, presents a unique investment opportunity. Located at 490 S Broadway, this 2,542 square foot building sits on a 0.28-acre lot, boasting a highly visible corner location with convenient access to 5th Street and Broadway. The property benefits from excellent proximity to popular businesses such as Sonic, Arby's, and the new Popeye's Chicken, as well as several new car dealerships, ensuring high visibility and foot traffic. The building features two distinct shop areas. The larger shop area includes three work bays with three east-facing and one west-facing (drive-through) overhead roll-up doors, each equipped with a drainage/mud pit. This area also offers ample shelving and cabinet space, two furnaces, a washer and dryer, and a carport bay. The second shop area, ideal for window tinting, interlock system checks, and windshield repair, features a single bay with a north-facing overhead roll-up door, storage, a refrigerator/employee break room, shelving, cabinets, and a solid concrete floor. The main area comprises an office, customer counter/waiting space, storage, a water heater closet, a utility sink, a coffee machine/microwave, and all existing furniture and equipment. Access is available from both shop areas, the north parking lot, and the south main entrance on 5th Street. A half-bathroom and mechanical room are located on the exterior south side. The property offers both front and rear parking. Recent improvements include a roof repair and coating (2021), installation of a backflow prevention device (2021), a Navien tankless water heater (2022), and recent sewer line cleaning and inspection. The sale includes all business equipment and assets, excluding the business name, records, signs, training, computer, and other related assets (unless negotiated separately). The business assets can be purchased separately for $95,000, potentially including an extended lease agreement. The real estate cannot be sold separately from the business assets. A metal storage container on the property is excluded from the sale.

Property profile
Verified
Property type Distribution properties
Use group COM AUTO TRANS/STORAGE
Year built 1990
Total area 2,542 SF
Lot 0.28 ac (12,197 SF)
Zoning code C
APN 561127400018
UPID US13-1951911
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Precision Detailing & Glass Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Charles Willism Bates Rlt · 4 yrs held
Charles Willism Bates Rlt
since 2022
Last sale
$175,000
4 recorded transactions
2022
Price N/A
2021
Price N/A
2011
Price N/A
2006
$175,000
Zoning & alternative use
C · Cortez, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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