22 Uncompahgre AveMontrose, CO 81401

Property Details for 22 Uncompahgre Ave

Year built

1908

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.07 AC

Property size (Sq ft)

3,000 SF

Property type

Office buildings

APN

3767-273-28-014

APU

376727328014

Description

This exceptional 3,000 square foot retail property, situated on a 0.06-acre lot at 22 N Uncompahgre Avenue in Montrose, CO, presents a compelling investment opportunity. Currently boasting five tenants, several of whom have enjoyed long-term occupancy in this location, the property demonstrates strong potential for consistent rental income. Recent upgrades significantly enhance its value and appeal. A newer roof and a recently installed heating system ensure efficient and cost-effective operation. The majority of the flooring has also been recently replaced, contributing to the overall modern and well-maintained condition of the building. The property's strong tenant base, coupled with these recent improvements, makes it an attractive proposition for investors seeking a stable and potentially lucrative return. The asking price is $345,000, and owner financing may be available, making this an even more accessible investment opportunity. This property is ideally suited for an investor seeking a low-maintenance, high-yield addition to their portfolio. The prime Montrose location ensures high visibility and accessibility for tenants, further enhancing its investment potential. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $551,326

  6.5%

  $508,917

  7%

  $472,565

• Comparable approach

  Method

  Valuation

  Relative Method

  $610,517

  Geo Method

  $247,860

• Alternative Use

  Use

  Valuation

  Residential

  $631,057

  Hospitality

  $578,044

  Educational

  $480,926

  Medical

  $497,466

  Retail

  $748,107

Location Insight

City

Montrose

County

Montrose

State

Colorado

Latitude

38.4808

Longitude

-107.876

CBSA code

33940

CBSA name

MONTROSE, CO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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