238 S 2nd Street, Montrose, CO 81401
Local realty services provided by:CENTURY 21 West Slope Realty
238 S 2nd Street,Montrose, CO 81401
$499,900
- 4 Beds
- 2 Baths
- 2,939 sq. ft.
- Single family
- Active
Listed by: delphine jadot
Office: keller williams colorado west realty970-252-8528
MLS#:833462
Source:CO_CREN
Price summary
- Price:$499,900
- Price per sq. ft.:$170.09
About this home
Downtown Montrose Commercial Investment & Business Opportunity | 238 S 2nd Street Position your business, expand your investment portfolio, or relocate to one of Western Colorado's fastest-growing commercial hubs. Located in the heart of Downtown Montrose, this landmark property—affectionately known as the "Grand Old Lady"—has stood proudly since 1898 and has been thoughtfully renovated to combine historic character with modern functionality. Situated just steps from Main Street, this highly visible downtown location offers exceptional accessibility, walkability, and business exposure. Customers and tenants alike will appreciate proximity to local favorites including The Rathbone, Colorado Boy, MSSO, Eatery 66, City Market, retail shops, professional services, and the vibrant downtown business district. The property's flexible configuration creates multiple income and business-use opportunities: • Owner-user business headquarters with supplemental rental income • Professional office, boutique retail, wellness, or service-based business • Mixed-use live/work environment • Multi-tenant commercial configuration • Investment property with future repositioning potential A standout feature is the separate upper-level apartment, complete with its own living space and kitchen. Whether used as a long-term rental, employee housing, owner's residence, or executive suite, this income-producing component provides flexibility and additional revenue potential rarely found in downtown commercial properties. The property offers approximately 2,939 square feet plus basement storage and sits on a 0.14-acre lot with valuable alley access and a detached one-car garage/carport. The alley access creates additional convenience for deliveries, employee parking, tenant access, storage, or future operational needs. Investment & Business Highlights • Prime downtown Montrose location • Historic building with modern improvements • Income-producing upper-level apartment • Highly walkable business district • Flexible mixed-use and multi-tenant possibilities • Valuable alley access and rear garage • Strong owner-user or investment opportunity • Potential value-add and redevelopment upside • Excellent visibility near Main Street Montrose continues to experience substantial economic growth as the commercial, healthcare, recreation, and tourism hub of Western Colorado. The recent Downtown Main Street revitalization efforts have further enhanced accessibility, infrastructure, streetscapes, and the overall business environment, creating new momentum for downtown investment and entrepreneurship. Potential buyers may also explore a variety of business development resources and incentives available through the City of Montrose Development and Revitalization Team (DART), including downtown business assistance programs, façade improvement opportunities, low-interest revitalization funding, and business relocation support. For qualifying projects, historic designation and preservation initiatives may provide access to state and federal historic preservation funding opportunities, while Region 10 administers Enterprise Zone incentives and business assistance programs designed to support business growth, job creation, and property investment throughout the region. Eligibility requirements apply and should be independently verified by buyers. Whether you're an entrepreneur seeking a flagship location, an investor pursuing mixed-use income potential, or a business owner looking to relocate to a thriving Western Colorado community, 238 S 2nd Street presents a rare opportunity to own a piece of Montrose history while capitalizing on its future growth....
Contact an agent
Home facts
- Year built:1898
- Subdivision & Development:None
- Listing ID #:833462
- Added:153 day(s) ago
- Updated:September 11, 2026 at 02:44 PM
Rooms and interior
- Bedrooms:4
- Total bathrooms:2
- Full bathrooms:1
- Flooring:Carpet-Partial, Tile
- Living area:2,939 sq. ft.
Heating and cooling
- Cooling:Forced Air
- Heating:Electric Baseboard
Structure and exterior
- Roof:Composition
- Year built:1898
- Building area:2,939 sq. ft.
- Lot area:0.14 Acres
- Architectural Style:Victorian
- Levels:2 Story
Schools
- High school:Montrose 9-12
- Middle school:Centennial 6-8
- Elementary school:Pomona K-5
Utilities
- Water:City Water
- Sewer:Public Sewer
Finances and disclosures
- Price:$499,900
- Price per sq. ft.:$170.09
Features and amenities
- Amenities:Electricity, Natural Gas, Phone - Cell Reception, Unfurnished
Parking
- Carport spaces:1
New listings near 238 S 2nd Street
- New
$575,000New4 beds 2 baths1,965 sq. ft.1308 Gold Creek, Montrose, CO 81403
MLS# 838947Listed by: COLDWELL BANKER DISTINCTIVE PROPERTIES - New
$398,000New2 beds 2 baths702 sq. ft.17917 6650 Road, Montrose, CO 81403
MLS# 838938Listed by: LIV SOTHEBY'S INTERNATIONAL REALTY - TELLURIDE - New
$1,300,000New-- beds 7 baths6,208 sq. ft.832 N 2nd Street, Montrose, CO 81401
MLS# 838919Listed by: RENFROW REALTY - New
$440,000New3 beds 3 baths2,042 sq. ft.1717 Leeds Avenue, Montrose, CO 81401
MLS# 838914Listed by: KELLER WILLIAMS REALTY SOUTHWEST ASSOCIATES, LLC - MONTROSE - New
$636,600Active4 beds 3 baths2,122 sq. ft.3341 Kestrel Loop, Montrose, CO 81401
MLS# 838876Listed by: KELLER WILLIAMS REALTY SOUTHWEST ASSOCIATES, LLC - MONTROSE - New
$1,375,500Active6 beds 6 baths5,178 sq. ft.2209 Hatton Place, Montrose, CO 81401
MLS# 838853Listed by: UNITED COUNTRY SNEFFELS REALTY - New
$679,000Active3 beds 3 baths2,619 sq. ft.12795 6600 Road, Montrose, CO 81401
MLS# 838840Listed by: COLDWELL BANKER DISTINCTIVE PROPERTIES - New
$174,000Active37.79 Acrestbd Happy Canyon Road, Montrose, CO 81401
MLS# 838838Listed by: NORRIS-PHILLIPS REAL ESTATE, LLC - New
$650,000Active4 beds 2 baths2,288 sq. ft.62874 Niagara Road, Montrose, CO 81403
MLS# 838786Listed by: RE/MAX ALPINE VIEW - New
$525,000Active3 beds 2 baths2,013 sq. ft.1214 Peppertree Drive, Montrose, CO 81401
MLS# 838815Listed by: NEXTHOME VIRTUAL