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.