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$1,700,000

  • For Sale
  • Active
  • Multi-Family
  • 0.07 Acres
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Prime Mixed-Use Asset Historic District Main Street Frontage Turnkey + Income Producing 331 Main Street offers an exceptional mixed-use opportunity in the heart of Old Town Longmont's Historic District. Originally home to Longmont's first J.C. Penney's Business and now recognized on the National Historic Register, this 6,322 sq ft landmark blends historic significance with modern functionality, strong visibility, and consistent income. The main level features a leased retail storefront along Main Street and a full commercial kitchen in the rear-ideal for hospitality, specialty retail, production, or service-based concepts. The upper level includes two residential units-a studio apartment and a two-bedroom apartment with a private rooftop deck offering sweeping views of downtown and the surrounding district. With updated systems, roof improvements, and interior enhancements, the property supports long-term stability, reduced operating costs, and reliable tenant retention. Modified Gross leases (utilities + taxes included) further streamline operations for both tenants and ownership. In 1898, a young James Cash Penney opened his first shop here at 331 Main Street, a meat market and bakery that became the foundation of what would grow into the national JCPenney department store chain. Over the next century, this historic Main Street building housed long-standing retailers like Woelz Brothers Clothing and now stands as a contributing building in the Downtown Longmont National Historic District. Showings must be at least a 24 hour notice. Showings begin Friday November 21st.

Full Property Details for 331 Main St

General

  • Price: $1,700,000
  • Taxes: $23,447
  • Status: Active
  • Type: Multi-Family
  • Source: IRES
  • MLS ID: 1047588
  • Updated: 12/17/2025
  • Added to Site: 61 day(s) ago

Business

  • Business Type: Professional/Office, Retail-Downtown, Mixed, Variety

Interior

  • Appliances: Fire Alarm

Additional Information

  • Other Features: Fire Sprinklers, Storage on Site

Location

  • Area: Longmont
  • County: Boulder
  • Subdivision: Longmont Ot

School Information

  • School District: ST Vrain Dist RE 1J
  • Elementary School: Central
  • Middle School: Westview
  • High School: Longmont

Heating & Cooling

  • Cooling Type: Central Air, Ceiling Fan(s), Variable Air Volume, Multi Units
  • Heating Type: Forced Air

Utilities

  • Gas: Yes
  • Gas: XCEL
  • Sewer: Public Sewer
  • Water: City
  • Utility Description: Natural Gas Available, Electricity Available, 220-Volt Electricity, High-Speed Internet Available

Structural Information

  • Construction: Frame, Brick, Stone
  • Exterior Const.: Frame, Brick, Stone
  • Basement: Yes
  • Basement Desc.: Full, Crawl Space
  • Roof: Rubber
  • Sq. Ft. Source: Assessor
  • Year Built: 1944

Lot Features

  • Property View: City
  • Lot Size (Acres): 0.07
  • Lot Size (Sq. Ft.): 3,108
  • Frontage: City Street
  • Street/Road Desc.: Asphalt, Concrete
  • Lot Features: Historic District, City Limits, Paved, Curbs, Gutters, Sidewalks, Street Light, Alley
  • Potential Use: Multi-Family, Business, Commercial, Industrial
  • Zoning: Mixed Use

Green Features

  • Energy Efficient: High Efficiency Furnace

Financial Considerations

  • Operating Expenses: $45,671
  • Tax Amount: $23,447
  • Terms: Cash, Conventional, 1031 Exchange
  • Tenant Pays: Deposit

Disclosures and Reports

  • Special Conditions: Private Owner
  • Exclusions: Front Retail- some track lighting, some covers on the drop ceiling. Kitchen-all other equipment is excluded except for the over head hood Upstairs - Camera is not included, modems
  • Property ID: R0609090

Listed by Compass - Boulder (303) 487-5472

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Listing agent

— 331 Main St —

  • Compass - Boulder

    303-487-5472

3037467316

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 331 Main St

School District:St. Vrain Valley School District Re 1j
NameGradesDistance
Central Elementary School, Longmont, CO
1020 4th Avenue, Longmont, CO 80501
PK-50.3 mi
Westview Middle School
1651 Airport Road, Longmont, CO 80503
6-83.2 mi
Longmont High School
1040 Sunset Street, Longmont, CO 80501
9-121.2 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 331 Main St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
11/19/2025
Listed
$1,700,000
161.54%
MLS
2/28/2020
Sold
$650,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 331 Main St

Year
Property Taxes
Change
Tax Assessment
Change
2024
-100%
-100%
2023
$23,162
11%
$226,576
20%
2022
$20,877
1%
$188,500
—
2021
$20,590
-14%
$188,500
-16%
2019
$24,077
32%
$224,170
31%
2018
$18,271
-7%
$171,100
-8%
2017
$19,705
38%
$186,792
40%
2016
$14,327
4%
$133,423
—
2015
$13,727
18%
$133,423
20%
2014
$11,660
—
$111,186
—
2013
$11,697
—
$111,186
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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NMLS#: 1598647

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Listed by Compass - Boulder (303) 487-5472

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331 Main St, Longmont, CO 80501 (MLS# 1047588) is a Multi-Family property with units containing 0 bedrooms and 0 full bathrooms. 331 Main St is currently listed for $1,700,000 and was received on November 19, 2025. Want to learn more about 331 Main St? Do you have questions about finding other Multi-Family real estate for sale in Longmont? You can browse all Longmont real estate or contact a Coldwell Banker agent to request more information.

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