502 W Main Street, New Castle, CO 81647
502 W Main Street, New Castle, CO 81647,Video Tour
502 W Main Street, New Castle, CO 81647
502 W Main Street, New Castle, CO 81647
502 W Main Street, New Castle, CO 81647
502 W Main Street, New Castle, CO 81647
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Chery&Co. Real Estate

Chery&Co. Real Estate

+1(970) 625-4441
Listed by Douglas Elliman Real Estate-Willits
$ 1,450,000
Est. payment | /mo

7,474 SqFt

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$ 1,450,000
Est. payment | /mo
Save Virtual Tour

7,474 SqFt

Key Details

Property Type Commercial

Sub Type Business with Real Estate

Listing Status Active

Purchase Type For Sale

Square Footage 7,474 sqft

Price per Sqft $194

MLS Listing ID 193444

Year Built 1898

Annual Tax Amount $7,309

Tax Year 2025

Lot Size 5,000 Sqft

Acres 0.11

Property Sub-Type Business with Real Estate

Source Aspen Glenwood MLS

Property Description

New PRICING - Now offered at 9.2% Cap Rate. ++++ Turnkey mixed-use income property in excellent condition on Main Street in one of Colorado's most exciting small towns. At the reduced ask price, existing lodging operations produce a 9.2% cap rate. Seven residential units plus a ground-floor commercial space currently leased to a salon, with a retained restaurant hood vent and grease trap that preserves future food and beverage potential. ++++ New Castle recently won the 2026 Colorado Downtown Excellence Award for Best Place in the small community category, recognizing its thriving Main Street revitalization -- and the Ore House Inn sits at the center of it.++++ Strong operational history with established presence across all major short-term rental platforms -- a buyer steps into an active, revenue-producing operation with listings, systems, and reviews already in place. Flexible exit: continue as STR, pivot to furnished monthly stays, or convert to long-term residential leasing. Directly on Main Street with draw from the Glenwood Springs/Vail/Aspen corridor.

Location

State CO

County Garfield

Area New Castle

Zoning C/1 Commercial

Direction At the corner of Main Street and N. 5th Street. On the north side of Main Street.

Exterior

Parking Features Electric Vehicle Charging Station(s)

Roof Type Membrane

Building

Lot Description Corner Lot

Water Public

Others

Tax ID 212331222019

Virtual Tour https://my.matterport.com/show/?m=EM6W4Jh4jxs

Aspen Glenwood Springs MLS (AGSMLS)

Nearby Locations

Chery&Co. Real Estate

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(970) 625-4441

frontdesk@cherylchandler.com

120 W 5th St, Rifle, Colorado, 81650, United States

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502 W Main Street