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Downtown Montrose Commercial Investment Opportunity | 238 S 2nd Street | Position your business or expand your portfolio in the heart of Downtown Montrose. This "Grand Old Lady," standing proudly since 1898, has recently undergone an extensive renovation—blending historic charm with modern functionality. Ideally located just off Main Street in the business district, the property offers strong visibility, easy access, and proximity to established businesses, dining, and everyday services. Start your mornings with a short walk to The Rathbone for coffee, enjoy the convenience of City Market just across the street for daily shopping, and unwind in the evening with a walk to MSSO, Colorado Boy, or Eatery 66 for a true downtown dining experience. The central location and flexible layout create multiple opportunities: * Mixed-use potential (live/work configuration) * Multi-tenant or single-user occupancy * Upper level can function as a separate apartment or integrate seamlessly with the main level. Offering approximately 2,939 sq ft plus basement storage, this property sits on a 0.14-acre lot with a one-car garage accessible from the alley. The current configuration includes 4 bedrooms and 2 bathrooms with 2 kitchens, allowing for owner-occupancy, rental income potential, or both. Investment Highlights: * Prime downtown location with consistent activity * Walkable to coffee shops, restaurants, and daily conveniences * Potential for **owner-user or investment property** * Flexible layout for **multi-tenant or live/work use** * Opportunity for **value-add improvements or repositioning** Montrose continues to grow as a regional hub for Western Colorado, supporting local businesses and attracting visitors year-round with proximity to the Black Canyon of the Gunnison and nearby mountain destinations.
| LAST UPDATED | 4/9/2026 | YEAR BUILT | 1898 |
|---|---|---|---|
| COMMUNITY | Montrose City | COUNTY | Montrose |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | Montrose City |
|---|---|
| HEAT | Forced Air, Natural Gas |
| LOT | 6098 sq ft |
| PARKING | On Street |
| TAXES | 1870.48 |
| UTILITIES | Natural Gas Available |
| WATER | Public |
| ZONING | Commercial |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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*Estimate only
Listed with Keller Williams Colorado West Realty
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2026. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
Real Estate listings held by companies other than Real contain that company’s name.
Fair Housing DisclaimerThis data was last updated: 4/30/26 4:19 PM PDT
This IDX solution is (c) Diverse Solutions 2026.
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