502 W Main Street,New Castle, CO 81647
New Castle, CO 81647
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.
Details
| MLS # | 1014470 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1898 |
| Days On Site | 64 |
| Listing Provided By | Douglas Elliman Real Estate | Gabriel Molnar |
Features
| SQ Feet | 7,474 |
|---|---|
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 8 |
| Zoning | New Castle - C/1 |
| Acreage | 0.11 |
Taxes
| Property | 7309 |
|---|
Area Information
| State | CO |
|---|---|
| County | Garfield |
| City | New Castle |
| Zip Code | 81647 |
| Area | Out of Area |
| Community Name | See Remarks |
| Listing VS Median (in See Remarks) | |
Price: $1,450,000 low | high Med: $1,299,000 sqft: 7,474 low | high Med: 1,813 $ / sqft: $194 low | high Med: $716 On site: 64 low | high Med: 127 | |
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Learn More About This Property
| State | CO |
|---|---|
| County | Garfield |
| City | New Castle |
| Zip Code | 81647 |
| Area | Out of Area |
| Community Name | See Remarks |
| Listing VS Median (in See Remarks) | |
Price: $1,450,000 low | high Med: $1,299,000 sqft: 7,474 low | high Med: 1,813 $ / sqft: $194 low | high Med: $716 On site: 64 low | high Med: 127 | |
