Positioned in the heart of Trinidad, Colorado, 123 West Cedar Street presents a compelling opportunity for investors or owner-users seeking a versatile retail asset in a growing southern Colorado market. This 6,600-square-foot freestanding building is currently home to a cannabis dispensary, which will vacate upon sale, offering a clean slate for a new operator. The property’s HP-MU (Historic Preservation Mixed Use) zoning supports a wide range of commercial applications, from retail and office to specialty use, making it ideal for entrepreneurs and established businesses alike. The site benefits from its central location within Trinidad’s walkable downtown district, surrounded by restaurants, retailers, and local amenities. With easy access to I-25 and proximity to regional attractions like Trinidad Lake State Park and the historic Santa Fe Trail corridor, the property is well-positioned to capture both local and visitor traffic. The building’s layout and visibility support strong branding potential, and the availability of licenses and FF&E negotiation adds flexibility for buyers looking to transition quickly. Demographic trends within a 5-mile radius show a stable population base with over 4,300 households and a median income exceeding $61,000, supporting a healthy consumer market. Whether repositioned for retail, office, or specialty use, this asset offers a strategic foothold in one of Colorado’s most historic and culturally rich communities.