Tbd Sligo And Cactus
Cortez, CO 81321

$1,850,000

Description

Perfect development/investment property located adjacent to Walmart, the new high school, Walgreens, and a small shopping strip center. Approximately 68 acres in several contiguous pieces, although one piece of 5.7 acres located on Cactus is non-contiguous to the others. The Cactus property would be available to be purchased separately for $695,000. It faces Walmart and the high school and is just south of the Bureau of Reclamation office building offering very nice views to the east of the La Plata Mountains. The larger parcel has frontage on Sligo Street, East 7th Street, as well as frontage on Highway 160 (Main Avenue). With all of the development in the area, a lot of the off-site infrastructure has already been completed when Walmart and the high school were built. This is definitely an A+ property location. There are numerous possibilities with these properties. You could consider mixed-use with apartments, condos/townhomes, restaurant, tire store, medical complex, or other commercial along Main Avenue and along Sligo. A small professional office building would be appropriate as well. With over 400 in town residential sales during the last three years, this could be an excellent spot to develop detached single-family homes. The latest annual average daily traffic (AADT) count was taken in 2016. One study was just east of Sligo and the other was a little bit further West on Main. Those counts range between 17,000-20,000 vehicles per day. Although the owners would sell off the 5.7 acre piece fronting on Cactus separately, their preference is to sell everything to one purchaser. This would also be a very good parcel of land to acquire and develop part of it and perhaps have your IRA own part of it. Call me and I can go over some of the details in that regard.

Details

MLS#745167
Sub-TypeResale
StatusActive
Days On Site8

Features

Acreage68.00
Property ViewYes

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Area Information

StateCO
CountyMontezuma
CityCortez
Zip Code81321
AreaCortez
Listing VS Median (in 81321)
Price:
$1,850,000
low | high
Med:
$158,300
100% of Average
On Site:
8
low | high
Med:
412
2% of Average
Listing Updated: 05/22/2018
MLS Number: 745167
Listing Provided By:
Rick Lorenz  of  The Wells Group of Durango Inc.



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