165 Midland Avenue

Basalt, CO 81621 / Basalt Center

MLS ID# 182521 Active
Commercial

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$13,495,000

0.32 acres

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• Description
• Location Info
• Keywords Info
• Listing Info
• General Info
• Financing Info
• Details

Description

Located only 20 minutes from Aspen, Colorado this Commercial Land Opportunity is in the heart of downtown Basalt, Colorado. The property consists of .322 acres with significant possibility to develop high end condominium hotel units. Presently, there is approximately 5,400 square foot multi-use space built on the property. The historical dining and bar area are accented by two fireplaces which consists of approximately 1,820 square feet. The remaining commercial space consists of the Kitchen, Office and Storage areas all on the first floor. Three residential units are also located on the property on the upper level and to the rear of the building. Future developments will require approvals from the Town of Basalt. Restaurant Space: Includes the Kitchen, Office and Storage areas on the first floor. Patios: Remodeled attached Patio which is approx. 1,820 square foot with a new roof and drop down enclosures to house guests year round with installed infra heaters. New Stone Patios allow for additional seating in the summer. Property also has an outdoor play ground for children. Square Footage: Seller represents that the square footage amounts are approximates. Buyer to verify square footages. Feasibility Study: Feasibility study created in 2023 identifies future development possibilities. Property is not being conveyed with entitlements. Buyer to verify entitlements with the Town of Basalt and obtain approvals. Located only 20 minutes from Aspen, Colorado this Commercial Land Opportunity is in the heart of downtown Basalt, Colorado. The property consists of .322 acres with significant possibility to develop high end condominium hotel units. Presently, th... show more

Location Info

• Inside City Limits Yes
• Condominiumized Yes
• Zoning City Basalt Colorado
• Zoning County Eagle County
• Type Commercial
• Major Area Basalt
• Area 05-Basalt Proper
• Street # 165
• Street Name Midland
• Street Suffix Avenue
• City/Town Basalt
• State/Province CO
• Postal Code 81621

Keywords Info

• Total Building SqFt 5,001 - 10,001
• Association Dues No

Listing Info

• Occupant Owner
• Seller is licensed Realtor No
• Short Sale No
• REO No
• Auction No
• Agency Excl Right to Sell
• Foreclosure No
• Member Association Glenwood Association
• Deeds Special Warranty

General Info

• SubLoc Basalt Center
• County Eagle
• Legal Condominium Units 1,2 and 3, Building 1, AND CONDOMINIUM UNIT 11, BUILDING 3 Frying Pan Inn Condomimiiums.
• Zoning C-2
• Lot SqFt 13939
• Nbr of Acres 0.32
• Levels 2
• Total SqFt 5547
• Unit SqFt 1820
• Inventory No
• Account # R025604
• Parcel # 246707416001
• Year Built 1892
• Year Remodeled 2006
• Directions From Aspen head down valley on Hwy 82 and exit at the town of Basalt. Take a right and drive over the bridge onto Midland Avenue. Property is located in the middle of the town on the right next to Alpine Bank.

Financing Info

• Metro Tax District No
• Taxes 15480.2
• Tax Year 2023
• Transfer Tax No
• Total HOA Fee Per Year 0
• HOA Management Contact None
• Earnest $/% 5%
• Earnest $ Payable To GBM LLC
• Seller Will Trade No

Details

• Allowable Uses

  Hotel/Lodge, Income, Mixed Use, Restaurant/Bar, Retail, Single Family Res

• Current Use

  Restaurant, Other:Residential

• Construction

  Brick, Frame

• Substructure

  Crawl Space

• Roof

  Composition Shingles

• Condition

  Good

• Electric

  Yes

• Gas

  Natural Gas

• Water

  Community

• Sanitation

  Community

• Parking

  11 - 20 Spaces, Off Site, Street Parking

• Access

  Paved

• Extras

  Fire Alarm, Fireplace, Furnished, Kitchen Area, Landscaped, Living Quarters, Smoke Detectors, Storage

• Location Amenities

  Corner Lot, High Traffic Loc, High Visibility, Highway Access

• Occupant

  Owner Occupied, Tenant Occupied

• Disclosures

  1031 Exchange, Lease/Mve Out Clause

• Documents on File

  CC & R's, Easements, Financials, Leases, Rent Roll, Survey/ILC

• Water Rights

  No

• Mineral Rights

  No

• Terms Offered

  Cash, Joint Venture, Lease w/Option to Purchase

• Sign

  No

• Possession

  DOD, Negotiable, Subject to Lease