737 Townsend Ave Montrose, CO 81401

This mixed-use property in Montrose, CO, presents a compelling investment opportunity. Located at 737 S Townsend Ave (Highway 550), this 1,917 sq ft building sits on a 0.25-acre lot and boasts high visibility due to its prime location on a major thoroughfare with one of the highest CDOT traffic counts. The property features two units: a main level with four offices and an ADA-compliant bathroom, currently rented for $1200/month, and a remodeled 500 sq ft studio apartment/office (with a private deck) rented for $1295/month until March 31, 2025. This space has been successfully rented for both commercial and residential use, making it ideal for short-term rentals. The second floor offers two finished rooms/offices currently used for storage. The building, constructed in 1910 and extensively renovated in 2005, 2014, and 2020, includes central heating and air conditioning, a metal roof, updated vinyl windows, wood floors, and a security alarm system. The sewer line was partially replaced/repaired in 2020. The property benefits from a 13' high steel tube signage frame, with the city permitting additional signage. The B-2 zoning allows for a wide range of uses, including but not limited to: medical offices, restaurants, traditional offices, retail, and residential. The seller will lease back the first floor for at least one year. The asking price is $599,000 ($312.47/sq ft). Buyer to verify specific use with the City Planning Department. APN: 3767-342-27-014. A 1031 exchange is permitted.