Commercial Sale · Active

543 S 5th

Montrose, CO 81401

5 Baths · 3,779 Sq Ft

$750,000

Mixed Use

Property Type

0.14 acres

Lot Size

1900

Year Built

$198

Price per Sq Ft

837948

MLS #

About This Property

Rarely does a downtown property offer this much character, flexibility, and income-producing potential in one package. Built in 1900, this iconic brick property is distinguished by beautiful original arch work, a matching brick fence and gate, and an uncommon layout that already provides multiple living spaces—with additional potential for a third unit. The main residence offers just under 3400 square feet with 2300+ of that across the main and upper levels, plus a finished basement at just above 1000 square feet with its own separate entry, living and flexible sleeping spaces, and a 3/4 bath. Add a kitchenette in this ripe and ready space and capitalize on the potential for a third unit here!

The already existing configuration provides tremendous versatility for a primary residence, multi-generational living, rental income, or an investment property with multiple potential revenue streams. Inside, historic craftsmanship takes center stage. Remarkable original Douglas fir millwork, including the banister and living room fireplace surround, complements metal accents and an eclectic blend of vintage and updated finishes. A spacious entry opens into the main living room, where a bay window and expansive leaded-glass windows fill the home with natural light.

The separate dining room flows into a well-appointed kitchen featuring a large built-in refrigerator, gas range and oven, dishwasher, island, and beverage fridge.Down the hall are original built-ins, a powder room, and a generous den/flex space with exposed brick and abundant character. The adjoining laundry room provides direct access to the back deck and yard, complete with a fire pit, greenhouse, and one of two entrances to the property's accessory dwelling unit (ADU). Upstairs in the main home, three well-appointed bedrooms share a full hall bath, while the expansive primary suite offers a luxurious retreat with an attached bath featuring a clawfoot soaking tub, walk-in shower, and dual porcelain pedestal sinks. The primary walk-in closet includes built-ins and ample storage.

Lovingly known as the "Bird House," the detached ADU adds even more versatility. Approximately 400 square feet on the main level plus an upper loft, it features a bunk room, functional kitchen, bathroom, and living area—all packed with character. The loft provides additional seating, sleeping, and workspace. For an investor, house hacker, multi-generational household, or owner seeking flexible space, the possibilities here are substantial.

The existing layout already supports multiple uses, while the finished basement and overall configuration create intriguing potential for additional living or rental space. With its historic architecture, downtown location, existing ADU, finished basement, and rare multi-unit potential, this is far more than a distinctive home—it is an opportunity to own a piece of Montrose history with the flexibility to shape it around your investment strategy. Property cooling features mini-split systems. Come discover this truly unique downtown property and imagine what it could become.

73 days on market

Listed by Kerri Noonan-Inda · NextHome Virtual · 970-258-9300

Last updated: 9/8/2026 10:45 AM · Source: Colorado Real Estate Network (CREN), MLS#: 837948

Property Details

Key Details

Property Type Commercial Sale
Sub Type Mixed Use
Status Active
Price per Sq Ft $198
Subdivision Montrose City
MLS # 837948
Days on Market 73
Full Baths 2
Half Baths 1
Three-Quarter Baths 2

More Details

Year Built 1900
Lot Size (Sq Ft) 6,098
Acres 0.14
Annual Taxes $3,213
Tax Year 2026
State CO
County Montrose
Zoning Mixed Use,Office

Interior

Heating Hot Water, Other
Cooling Other
Flooring Carpet, Tile, Wood

Exterior & Parking

Parking Features Concrete, On Street, Off Street
Roof Composition

Building & Lot

Sewer Public Sewer
Water Source Public
New Construction No

Location

Price History

DateEventPrice
9/2/2026 Price change
Source: Colorado Real Estate Network (CREN) #837948
$750,000 $198/sqft
9/2/2026 Price change
Source: Colorado Real Estate Network (CREN) #837947
$750,000 -2.0% $198/sqft
8/10/2026 Listed for sale
Source: Colorado Real Estate Network (CREN) #837948
$765,000 +2.0% $202/sqft
8/9/2026 Listed for sale
Source: Colorado Real Estate Network (CREN) #837947
$750,000 $198/sqft
5/28/2026 Listing removed
Source: Colorado Real Estate Network (CREN) #830542
—
5/17/2026 Price change
Source: Colorado Real Estate Network (CREN) #830542
$750,000 $198/sqft
12/20/2025 Listed for sale
Source: Colorado Real Estate Network (CREN) #830542
$750,000 $198/sqft

SOURCE: 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 (CREN). All data deemed reliable but not guaranteed and should be independently verified. The information contained in this publication is subject to change without notice.

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Listing information last updated September 8, 2026 at 10:45 AM.

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