215 Linden StCortez, CO 81321

Property Details for 215 Linden St

Year built

1978

Lot size

0.48 AC

Property size (Sq ft)

4,128 SF

Zone code

C

Property type

Office properties

Property subtype

Office buildings

APN

561126235002

APU

561126235002

Description

This exceptional 5,738 square foot office building at 215 N Linden in Cortez, CO, presents a compelling investment opportunity. Situated on a 0.26-acre lot, the property boasts a strong rental history with all suites currently leased, generating consistent annual income. The building features six suites, each with its own unique layout and amenities. Suite A, remodeled two years ago, includes a reception area, two private offices, two bathrooms, and storage. Suite B offers five separate offices, a kitchenette, and three bathrooms. Suite C, currently used as a church, comprises a large kitchenette/gathering area, a worship room, and two bathrooms. Suite D contains a reception area, two offices, and one bathroom. The lower level houses two additional suites (E1 and E2), accessed from the rear parking lot. Suite E1 features a large office divided into two sections, a kitchenette, and a bathroom. Suite E2 includes a reception area and a large office/storage area, plus a connected 670 square foot storage room. All suites are equipped with individual water heaters and cooling systems, and updated flooring. Convenient on-street and off-street parking is available. The property is attractively landscaped and features a welcoming wood sign. Located in the vibrant town of Cortez, nestled between Durango and Telluride, and near recreational attractions like Mesa Verde National Park and McPhee Reservoir, this property offers both strong financial returns and a desirable location. This is a turnkey investment ready for a new owner.

• CAP approach

  CAP return

  Valuation

  6%

  $758,625

  6.5%

  $700,269

  7%

  $650,250

• Comparable approach

  Method

  Valuation

  Relative Method

  $840,071

  Geo Method

  $341,055

• Alternative Use

  Use

  Valuation

  Residential

  $868,334

  Hospitality

  $795,389

  Educational

  $661,754

  Medical

  $684,513

  Retail

  $1,029,396

Location Insight

City

Cortez

County

Montezuma

State

Colorado

Latitude

37.3514

Longitude

-108.59

Property Tax & Assessments

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