502 W Main Street

New Castle, CO 81647 / Townsite of New Castle

MLS ID# 181763 Active
Commercial

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$1,775,000

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

• Inside City Limits Yes
• Condominiumized No
• Zoning City New Castle
• Zoning County Garfield
• Type Commercial
• 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

Association Dues

No

Listing Info

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

General Info

• SubLoc Townsite of New Castle
• County Garfield
• Country United States
• Legal Section: 31 Township: 5 Range: 90 Subdivision: ORIGINAL TWNSTE NEW CASTLE Block: 8 Lot: 1 AND:- Lot: 2
• Zoning Mixed Use
• Lot SqFt 5000
• Nbr of Acres 0.11
• Levels 2
• Total SqFt 7474
• Unit SqFt 267.59
• Business Name Ore House
• Account # R380283
• Parcel # 212331222019
• Year Built 1898
• 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
• Earnest $/% 50,000
• Earnest $ Payable To Title Company of the Rockies

Details

• Allowable Uses

  Hospitality, Hotel/Lodge, Income, Mixed Use, Multi-Family Res, Office, Restaurant/Bar, Retail, Single Family Res

• Current Use

  Income

• Construction

  Frame

• Substructure

  Unfinished Basement

• Roof

  Membrane

• Condition

  Excellent

• Heating/Cooling

  Baseboard, Central AC, Forced Air

• Gas

  Natural Gas

• Water

  City

• Sanitation

  Sewer

• Extras

  Electric Vehicle Hook-Up, Employee Quarters

• Location Amenities

  View

• Documents on File

  Financials

• Water Rights

  No

• Mineral Rights

  No

• Terms Offered

  Cash

• Sign

  Yes

• Possession

  DOD