27 Cascade AveMontrose, CO 81401

Property Details for 27 Cascade Ave

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.06 AC

Property size (Sq ft)

2,760 SF

Property type

Retail properties

Property subtype

Retail space

APN

3767-284-07-003

APU

376728407003

Description

This exceptional 18,325 square foot building located at 27 S CASCADE Avenue, Montrose, CO presents a rare investment opportunity. A beloved community landmark for nearly a century, this former theater offers immense potential for adaptive reuse or continued operation as a cinematic venue. The property boasts three screening rooms with seating capacities of 84, 168, and 245, respectively, along with three sets of men's and women's restrooms, and a fully equipped snack bar/retail area. Situated on a 0.22-acre lot, the building is zoned B-1 Central Business, providing flexibility for a variety of commercial uses. A significant advantage is its designation as an Opportunity Zone, offering substantial tax benefits to qualified investors through deferred capital gains taxes. The asking price of $1,700,000 is for the real estate

• CAP approach

  CAP return

  Valuation

  6%

  $745,614

  6.5%

  $688,259

  7%

  $639,098

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,415,422

  Geo Method

  $574,639

• Alternative Use

  Use

  Valuation

  Residential

  $580,572

  Hospitality

  $531,801

  Educational

  $442,452

  Medical

  $457,669

  Retail

  $688,259

Location Insight

City

Montrose

County

Montrose

State

Colorado

Latitude

38.4798

Longitude

-107.878

CBSA code

33940

CBSA name

MONTROSE, CO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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