U. S. Securities and Exchange Commission
                         Washington, D. C.  20549


                                FORM 10-QSB


[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the quarterly period ended January 31, 2006

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from                to
                                    --------------    ---------------


                      Commission File No. 0000-4494
                      -----------------------------

                     Commercial Property Corporation
                     -------------------------------
      (Exact name of small business issuer as specified in its charter)

         Delaware                                      13-5661446
         --------                                      ----------
(State or Other Jurisdiction of                  (I.R.S. Employer I.D. No.)
 incorporation or organization)

                          9005 Cobble Canyon Lane
                            Sandy, Utah 84093
                            -----------------
                 (Address of Principal Executive Office)

      Issuer's Telephone Number, including Area Code:  (801) 942-0555

                                   N/A
                                   ---
(Former name, former address and former fiscal year, if changed since last
report)

Check whether the Issuer (1) has filed all reports required to be filed by
Sections 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the Issuer was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.

(1)  Yes X     No                  (2)  Yes X   No
        ---      ---                       ---    ---

Indicate by check mark whether the registrant is a shell company (as defined
by Rule 12b-2 of the Exchange Act)  Yes X   No
                                       ---    ---
<PAGE>
             APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Not applicable.


                   APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the Issuer's classes
of common stock, as of the latest practicable date:

                            March 9, 2006

                              2,054,652
                              ---------

Transitional small business disclosure format (check one):  Yes X   No
                                                               ---    ---
                  PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements.

          The financial statements of the Commercial Property Corporation, a
Delaware corporation (the "Company," "we," "our" or words of similar import)
required to be filed with this 10-QSB Quarterly Report were prepared by
management, and commence on the following page, together with Related Notes.
In the opinion of management, the Financial Statements fairly present the
financial condition of the Registrant.
<PAGE>
                 COMMERCIAL PROPERTY CORPORATION
                  (A Development Stage Company)

              UNAUDITED CONDENSED FINANCIAL STATEMENTS

                         January 31, 2006
<PAGE>
                 COMMERCIAL PROPERTY CORPORATION
                  [A Development Stage Company]




                             CONTENTS

                                                                     PAGE

          Unaudited Condensed  Balance Sheet,
               January 31, 2006                                       F-2


          Unaudited Condensed Statements of Operations,
               for the three months ended January 31, 2006
               and 2005 and from the re-entering of
               development stage on November 19, 1997
               through January 31, 2006                               F-3


          Unaudited Condensed Statements of Cash Flows,
               for the three months ended January 31, 2006
               and 2005 and from the re-entering of
               development stage on November 19, 1997
               through January 31, 2006                               F-4


          Notes to Unaudited Condensed Financial Statements     F-5 - F-8

<PAGE>
                 COMMERCIAL PROPERTY CORPORATION
                  (A Development Stage Company)
                UNAUDITED CONDENSED BALANCE SHEETS


                              ASSETS

                                                                 January 31,
                                                                    2006
CURRENT ASSETS

 Cash                                                            $          -
                                                                 ------------
  Total Current Assets                                           $          -
                                                                 ------------
                                                                 $          -
                                                                 ============

          LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES

 Accounts payable                                                $     34,986
 Advances from shareholder                                             25,670
                                                                 ------------
  Total Current Liabilities                                            60,656
                                                                 ------------

COMMITMENTS AND CONTINGENCIES
[See Note 7]                                                                -
                                                                 ------------
  Total Liabilities                                                    60,656
                                                                 ------------
STOCKHOLDERS' EQUITY (DEFICIT):
     Preferred stock, $.001 par value, 10,000,000
     shares authorized, no shares issued and
     outstanding                                                            -
     Common stock, $.001 par value, 50,000,000
     shares authorized, 2,054,652 shares issued
      and outstanding                                                   2,055
     Capital in excess of par value                                 2,033,097
     Retained deficit                                              (2,011,964)
     Deficit accumulated during the development
      stage                                                           (83,844)
                                                                   ----------
          Total Stockholders' Equity (Deficit)                        (60,656)
                                                                   ----------
                                                                   $        -
                                                                   ==========


The accompanying notes are an integral part of these unaudited condensed
financial statements.
                                F-2
<PAGE>

                 COMMERCIAL PROPERTY CORPORATION
                  (A Development Stage Company)
             UNAUDITED CONDENSED STATEMENTS OF OPERATIONS

                                                                   From the
                                                                Re-entering of
                                           For the           Development Stage
                                      Three Months Ended      on November 19,
                                          January 31,           1997 through
                                      2006          2005     January, 31, 2006

REVENUE                               $      -  $      -          $       -
                                      --------  --------          ---------
EXPENSES
 General and administrative              1,716     5,272             83,844
                                      --------  --------          ---------
LOSS FROM OPERATIONS                    (1,716)   (5,272)           (83,844)

CURRENT INCOME TAX EXPENSE                   -         -                  -

DEFERRED INCOME TAX EXPENSE                  -         -                  -
                                      --------  --------          ---------
NET LOSS                              $ (1,716) $ (5,272)         $ (83,844)
                                      ========  ========          =========
LOSS PER COMMON SHARE                 $   (.00) $   (.01)
                                      ========  ========

The accompanying notes are an integral part of these unaudited condensed
financial statements.
                                F-3
<PAGE>
                 COMMERCIAL PROPERTY CORPORATION
                  (A Development Stage Company)
             UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS

                                                                   From the
                                                                Re-entering of
                                           For the           Development Stage
                                      Three Months Ended      on November 19,
                                          January 31,           1997 through
                                      2006          2005     January 31, 2006

Cash Flows from Operating Activities:
  Net loss                                $  (1,716)  $   (5,272)  $ (83,844)
  Adjustments to reconcile net loss to
   net cash used by operating activities:
   Stock issued for services rendered             -            -      18,963
   Changes in assets and liabilities:
   Increase (decrease) in accounts payable     (126)      (5,371)     38,016
                                          ---------   ----------   ---------
        Net Cash (Used) by Operating
        Activities                           (1,842)     (10,643)    (26,865)
                                          ---------   ----------   ---------
Cash Flows from Investing Activities              -            -           -
                                          ---------   ----------   ---------
        Net Cash Provided by Investing
        Activities                                -            -           -
                                          ---------   ----------   ---------
Cash Flows from Financing Activities:
  Capital contributions                           -            -       1,195
  Advances from related party                 1,842       10,643      25,670
                                          ---------   ----------   ---------
   Net Cash Provided by Financing
    Activities                                1,842       10,643      26,865
                                          ---------   ----------   ---------
Net Increase (Decrease) in Cash                   -            -           -

Cash at Beginning of Period                       -            -           -
                                          ---------   ----------   ---------
Cash at End of Period                     $       -   $        -   $       -
                                          =========   ==========   =========
Supplemental Disclosures of Cash Flow information:

  Cash paid during the period for:
  Interest                                $       -   $        -   $       -
  Income taxes                            $       -   $        -   $       -

Supplemental Schedule of Noncash Investing and Financing Activities:

  From the re-entering of development stage on November 19, 1997 through
  January 31, 2006:

    In January 2006, a company paid legal fees of $3,030 on behalf of the
    Company for an acquisition that was terminated.  The payment was treated
    as a contribution to capital.

    In April 1998, the Company issued 1,742,500 shares of common stock for
    services rendered valued at $8,713.

    In March 1998, the Company issued 205,000 shares of common stock for
    services rendered valued at $10,250.

The accompanying notes are an integral part of these unaudited condensed
financial statements.
                                F-4
<PAGE>
                 COMMERCIAL PROPERTY CORPORATION
                  (A Development Stage Company)
         NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     Organization - Commercial Property Corporation ("the Company") was
     organized under the laws of the State of Delaware on November 15, 1955
     as Inland Mineral Resources Corp., but later changed its name to Parker-
     Levitt Corporation.  The Company has been known as Commercial Property
     Corporation since 1977.  The Company was previously engaged in various
     real estate and development projects.  The Company had entered into
     several business acquisitions with subsidiaries and held various limited
     partnership interests.  The operations of the Company were not
     successful and the Company discontinued the majority of its operations
     by 1981.  In 1984, the Company had its corporate charter canceled by the
     State of Delaware.  In 1997, the Company issued common stock which
     resulted in a change in control.  The Company is considered to have re-
     entered into a new development stage on November 19, 1997.  In June
     2003, the Company was reinstated with the State of Delaware.  The
     Company is presently an inactive shell pursuing a suitable business
     opportunity.  Any transaction with an operating company will likely be
     structured similar to a reverse acquisition in which a controlling
     interest in the Company will be acquired by the successor operation.  In
     such a transaction, the shareholders of the Company will likely own a
     minority interest in the combined company after the acquisition and
     present management of the Company will likely resign and be replaced by
     the principals of the operating company.

     Condensed Financial Statements - The accompanying financial statements
     have been prepared by the Company without audit.  In the opinion of
     management, all adjustments (which include only normal recurring
     adjustments) necessary to present fairly the financial position, results
     of operations and cash flows at January 31, 2006 and 2005 and for the
     periods then ended have been made.

     Certain information and footnote disclosures normally included in
     financial statements prepared in accordance with generally accepted
     accounting principles in the United States of America have been
     condensed or omitted.  It is suggested that these condensed financial
     statements be read in conjunction with the financial statements and
     notes thereto included in the Company's October 31, 2005 audited
     financial statements.  The results of operations for the periods ended
     January 31, 2006 and 2005 are not necessarily indicative of the
     operating results for the full year.

     Development Stage - The Company is considered a development stage
     company as defined in Statement of Financial Accounting Standards No. 7.

     Cash and Cash Equivalents - The Company considers all highly liquid debt
     investments purchased with a maturity of three months or less to be cash
     equivalents.

     Income Taxes -The Company accounts for income taxes in accordance with
     Statement of Financial Accounting Standards No. 109, "Accounting for
     Income Taxes" which requires an asset/liability approach for the effect
     of income taxes.

     Loss Per Share - The computation of loss per share is based on the
     weighted average number of shares outstanding during the period
     presented in accordance with Statement of Financial Accounting Standards
     No. 128, "Earnings Per Share" [See Note 6].

                               F-5
<PAGE>
                 COMMERCIAL PROPERTY CORPORATION
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]

     Accounting Estimates - The preparation of financial statements in
     conformity with generally accepted accounting principles in the United
     States of America requires management to make estimates and assumptions
     that affect the reported amounts of assets and liabilities, the
     disclosures of contingent assets and liabilities at the date of the
     financial statements and the reported amount of revenues and expenses
     during the reported period.  Actual results could differ from those
     estimated.

     Recently Enacted Accounting Standards - Statement of Financial
     Accounting Standards ("SFAS") No. 151, "Inventory Costs - an amendment
     of ARB No. 43, Chapter 4", SFAS No. 152, "Accounting for Real Estate
     Time-Sharing Transactions - an amendment of FASB Statements No. 66 and
     67", SFAS No. 153, "Exchanges of Nonmonetary Assets - an amendment of
     APB Opinion No. 29", SFAS No. 123 (revised 2004), "Share-Based Payment",
     SFAS No. 154, "Accounting Changes and Error Corrections - a replacement
     of APB Opinion No. 20 and FASB Statement No. 3", and SFAS No. 155,
     "Accounting for Certain Hybrid Financial Instruments   an amendment of
     FASB Statements No. 133 and 140", were recently issued.  SFAS No. 151,
     152, 153, 123 (revised 2004), 154 and 155 have no current applicability
     to the Company or their effect on the financial statements would not
     have been significant.

     Restatement - In March 2005, the Company effected a 2-for-1 forward
     stock split.  The financial statements have been restated, for all
     periods presented, to reflect the stock splits and change in par value
     [See Note 2].

     In April 1998, the Company effected a 100-for-1 reverse stock split.  In
     December 2004, the Company amended its articles of incorporation to
     change the common stock par value.  The financial statements have been
     restated, for all periods presented, to reflect the stock split and
     change in par value [See Note 2].

     Reclassification - The financial statements for periods prior to January
     31, 2006 have been reclassified to conform to the headings and
     classifications used in the January 31, 2006 financial statements.

NOTE 2 - CAPITAL STOCK

     Preferred Stock   In December 2004, the Company amended its articles of
     incorporation to authorize 10,000,000 shares of preferred stock, $.001
     par value, with such rights, preferences and designations and to be
     issued in such series as determined by the Board of Directors.  No
     shares are issued and outstanding at January 31, 2006.

     Common Stock - In March 1998, the Company issued 205,000 shares of its
     previously authorized but unissued common stock for services valued at
     $10,250.  The stock issuance resulted in a change of control of the
     Company.  The former officers and directors resigned and new officers
     and directors were appointed.

                               F-6
<PAGE>
                 COMMERCIAL PROPERTY CORPORATION
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 2 - CAPITAL STOCK [Continued]

     In April 1998, the Company effected a 100-for-1 reverse stock split.  No
     shareholder was to be reduced to less than 50 shares; therefore, an
     additional 56,632 shares were issued in conjunction with the reverse
     split.  The financial statements have been restated, for all periods
     presented, to reflect the stock split.

     In April 1998, the Company issued 1,742,500 shares of its previously
     authorized but unissued common stock for services valued at $8,713.

     In December 2004, the Company amended its articles of incorporation to
     authorize 50,000,000 shares of common stock with $.001 par value.
     Previously, the Company had authorized 3,000,000 shares of common stock
     with $.01 par value.  The financial statements have been restated for
     all periods presented to reflect the change in par value.

     In March 2005, the Company effected a 2-for-1 forward stock split.  The
     financial statements have been restated, for all periods presented, to
     reflect the stock split.

     The Company incurred legal fees pursuant to an unsuccessful acquisition.
     Upon termination of the acquisition in January 2006 the target company
     paid $3,030 of legal fees on behalf of the Company.  The payment has
     been treated as a contribution of capital.

NOTE 3 - RELATED PARTY TRANSACTIONS

     Advances - An officer/shareholder of the Company has paid expenses
     totaling $25,670 on behalf of the Company.  The advances are due on
     demand and bear no interest.

     Management Compensation - During the three months ended January 31, 2006
     and 2005, the Company did not pay any compensation to its officers and
     directors.

     Office Space - The Company has not had a need to rent office space.  An
     officer/shareholder of the Company is allowing the Company to use his
     home as a mailing address, as needed, at no expense to the Company.

NOTE 4 - GOING CONCERN

     The accompanying financial statements have been prepared in conformity
     with generally accepted accounting principles in the United States of
     America, which contemplate continuation of the Company as a going
     concern.  However, the Company has no on-going operations and has
     current liabilities in excess of current assets.  These factors raise
     substantial doubt about the ability of the Company to continue as a
     going concern.  In this regard, management is proposing to raise any
     necessary additional funds not provided by operations through loans or
     through sales of its common stock or through a possible business
     combination with another company.  There is no assurance that the
     Company will be successful in raising this additional capital or in
     establishing profitable operations.  The financial statements do not
     include any adjustments that might result from the outcome of these
     uncertainties.

                               F-7
<PAGE>
                 COMMERCIAL PROPERTY CORPORATION
                  [A Development Stage Company]

         NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 5 - LOSS PER SHARE

     The following data shows the amounts used in computing loss per share:


                                                For the Three
                                               Months Ended
                                                 January 31,
                                         _________________________
                                              2006     2005
                                           ______________________

   Loss available to common shareholders
   (numerator)                             $(1,716)      $ (5,272)
                                           ______________________

   Weighted average number of common
   shares outstanding used in loss per share
   during the period (denominator)         2,054,652    2,054,652
                                           ______________________


  Dilutive loss per share was not presented; as the Company had no common
  equivalent shares for all periods presented that would effect the
  computation of diluted loss per share.

NOTE 6 - COMMITMENTS AND CONTINGENCIES

  The Company has not been active for 20 years, since it discontinued its
  real estate operations.  Management believes that there are no valid
  outstanding liabilities from prior operations.  If a creditor were to come
  forward and claim a liability, the Company has committed to contest the
  claim to the fullest extent of the law.  Due to various statutes of
  limitations and because the likelihood that a 20-year old liability would
  not still be valid, no amount has been accrued in these financial
  statements.

                               F-8
<PAGE>
Item 2.   Management's Discussion and Analysis or Plan of Operation.
--------------------------------------------------------------------

Plan of Operation.
------------------

         The Company has not engaged in any material operations since the
fiscal year ended October 31, 1981, or during the quarterly period ended
January 31, 2006, or to the date hereof.

         The Company's plan of operation for the next 12 months is to:(i)
consider guidelines of industries in which the Company may have an interest;
(ii) adopt a business plan regarding engaging in business in any selected
industry; and (iii) to commence such operations through funding and/or the
acquisition of a "going concern" engaged in any industry selected.

         During the next 12 months, the Company's only foreseeable cash
requirements will relate to maintaining the Company in good standing or the
payment of expenses associated with reviewing or investigating any potential
industries as a business venture, which the Company expects to pay from its
cash resources or loans from members of management.

Item 3.   Controls and Procedures.
----------------------------------

    As of the end of the period covered by this Quarterly Report, we carried
out an evaluation, under the supervision and with the participation of our
President and Secretary/Treasurer, of the effectiveness of the design and
operation of our disclosure controls and procedures.  Based on this
evaluation, our President and Chief Financial Officer concluded that our
disclosure controls and procedures are effectively designed to ensure that
information required to be disclosed or filed by us is recorded, processed or
summarized, within the time periods specified in the rules and regulations of
the Securities and Exchange Commission.  It should be noted that the design of
any system of controls is based in part upon certain assumptions about the
likelihood of future events, and there can be no assurance that any design
will succeed in achieving its stated goals under all potential future
conditions, regardless of how remote.  In addition, we reviewed our internal
controls, and there have been no significant changes in our internal controls
or in other factors that could significantly affect those controls subsequent
to the date of their last evaluation.

                    PART II - OTHER INFORMATION

Item 1.   Legal Proceedings.
----------------------------

          None; not applicable.

Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds.
----------------------------------------------------------------------

          None; not applicable.

Item 3.   Defaults Upon Senior Securities.
------------------------------------------

          None; not applicable.

Item 4.   Submission of Matters to a Vote of Security Holders.
--------------------------------------------------------------

          None; not applicable.

Item 5.   Other Information.
----------------------------

          None; not applicable.

Item 6.   Exhibits.
-------------------

          Exhibits.

               31.1 302 Certification of David C. Merrell

               31.2 302 Certification of Kristine M. Rogers

               32   906 Certification

<PAGE>

                               SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Quarterly Report to be signed on its
behalf by the undersigned there unto duly authorized.

                                        Commercial Property Corporation

Date: 3/13/2006                         By/s/David C. Merrell
     ----------                         -------------------------------------
                                        David C. Merrell
                                        Director and President


Date: 3/13/2006                         By/s/Kristine M. Rogers
     ----------                         -------------------------------------
                                        Kristine M. Rogers
                                        Secretary and Treasurer