502 W Main Street

New Castle, CO 81647 / Townsite of New Castle

MLS ID# 181760 Active
Residential Income

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$1,775,000

5 beds

6 baths

None Garage

7474 sqft

0.11 acres

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

Description

Welcome to Ore House Inn! This property has a rich history and is an iconic landmark in the small mountain town of New Castle. With a full remodel over the last several years, the building and business are truly turn key and ready for a new owner. The property offers seven residential units and one commercial space. Currently the commercial space is leased through 2024 to a boutique gift shop and the seven residential units are being used as short term rentals. The ground floor consists of the commercial space plus one residential unit and upstairs are six additional rooms that are connected with hallways that characterize New Castle's mining history. This property has a history of strong cash flow and little vacancy. With the Western Slope continuing to experience rapid growth, there is no reason to believe this trend will not continue for many years to come. Located on Main Street, it's an easy stroll to restaurants, shops, hiking and biking trails. The interstate is located just a couple of minutes away and also within a short drive are world class rivers, famous hot springs, several golf courses, skiing, hunting, camping, climbing and more. Aspen, Vail and Grand Junction are just one hour away. The property has four private parking spots including an EV charging station. Whether you're searching for a stable investment property, short term rental, or a mixed use space to accommodate your commercial needs, this property should be considered. Welcome to Ore House Inn! This property has a rich history and is an iconic landmark in the small mountain town of New Castle. With a full remodel over the last several years, the building and business are truly turn key and ready for a new owner. T... show more

Location Info

• Type Residential Income
• Major Area New Castle
• Area 10-New Castle Proper
• Street # 502
• Street Direction Pfx W
• Street Name Main
• Street Suffix Street
• City/Town New Castle
• State/Province CO
• Postal Code 81647

Keywords Info

• Bedrooms 5
• Total Baths 6
• Baths - Full 6
• Baths - 3/4 0
• Baths - Half 0
• Lot Size 3,001 - 6,000
• Acreage Refer to Lot Size
• Garage None
• Pre-Fabricated Home No

Listing Info

• Seller is licensed Realtor No
• SB% 2
• Variable Comm True
• Flat Fee No
• REO No
• Agency Excl Right to Sell
• Member Association Glenwood Association
• County Garfield
• Deeds Special Warranty

General Info

• SubLoc Townsite of New Castle
• Legal Section: 31 Township: 5 Range: 90 Subdivision: ORIGINAL TWNSTE NEW CASTLE Block: 8 Lot: 1 AND:- Lot: 2
• Zoning Mixed Use
• Nbr of Acres 0.11
• Lot SqFt 5000
• Lv Ht SqFt 7474
• Unfinished SqFt 0
• Total SqFt 7474
• Price/LvH SqFt 237.49
• Levels 2
• Main Floor Master Yes
• Year Built 1898
• Parcel # 212331222019
• Account # R380283
• Directions USE GPS to 502 Main St. New Castle CO 81647

Financing Info

• Metro Tax District No
• Taxes 5294.84
• Tax Year 2023
• Transfer Tax No
• HOA Dues Y/N No
• HOA Transfer Fee No
• Earnest $/% 50,000
• Earnest $ Payable To Title Company of the Rockies

Details

• Style

  Two Story

• Construction

  Frame

• Exterior

  Brick Veneer

• Substructure

  Unfinished Basement

• Roof

  Membrane

• Condition

  Excellent

• Heating

  Baseboard, Forced Air

• Gas

  Natural Gas

• Water

  City

• Cooling

  A/C

• Sanitation

  Sewer

• Possession

  DOD

• Extras

  Electric Vehicle Hook-Up, Guest/Caretaker Qtrs, Softener

• Terms Offered

  Cash, New Loan

• Mineral Rights

  No

• Water Rights

  No

• Documents on File

  Financials

• Location Amenities

  Views

• Sign

  Yes