502 W Main Street,New Castle, CO 81647
New Castle, CO 81647
Description
Commercial and Multi-Family/Short Term Rental Investment property in the desirable mountain town of New Castle, CO! Located downtown on Main Street, this property could be a possible work-live scenario, or be used strictly for investment with a current cap rate of over 9.22% if ran as an STR operation. Pro-Forma Cap is nearly at 12% if converted to long term rentals. All FF&E and furnishings included! Property has 7 individual residential units used for Short Term Rentals currently (AirBNB / VRBO), as well as a commercial unit on main level with infrastructure for a restaurant, but currently leased to a Salon through 2029. The entire property has been remodeled and updated, and comes turn-key with all furnishings, equipment and FF&E used for the short-term rental business. Rare property to find in a quickly appreciating.
Details
| MLS # | 20262854 |
|---|---|
| Listing Type | For Sale |
| Style | Commercial |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 70 |
| Listing Provided By | VENTURE GROUP | KYLE SERRANO |
Features
| Zoning | Commercial |
|---|
Exterior
| Lot Features | Corner Lot |
|---|
Taxes
| Tax Annual Amount | 7309 |
|---|
Area Information
| State | CO |
|---|---|
| County | Garfield |
| City | New Castle |
| Zip Code | 81647 |
| Area | New Castle |
| Listing VS Median (in 81647) | |
Price: $1,450,000 low | high Med: $895,000 On site: 70 low | high Med: 44 | |
Market Activity 81647
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Learn More About This Property
| State | CO |
|---|---|
| County | Garfield |
| City | New Castle |
| Zip Code | 81647 |
| Area | New Castle |
| Listing VS Median (in 81647) | |
Price: $1,450,000 low | high Med: $895,000 On site: 70 low | high Med: 44 | |
