490 BroadwayCortez, CO 81321

Property Details for 490 Broadway

Year built

1990

Lot size

0.28 AC

Property size (Sq ft)

2,542 SF

Zone code

C

Property type

Industrial properties

Property subtype

Other distribution properties

APN

561127400018

APU

561127400018

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $534,715

  Hospitality

  $489,796

  Educational

  $407,505

  Medical

  $421,520

  Retail

  $633,896

Location Insight

City

Cortez

County

Montezuma

State

Colorado

Latitude

37.3434

Longitude

-108.597

Property Tax & Assessments

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