$1,450,000
502 Main
New Castle
502 W Main Street, New Castle, CO 81647
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.
Listing Courtesy of
Gabe Molnar
Douglas Elliman Real Estate-Willits - (970) 925-8810
DETAILS
- StatusActive
- Year Built1898
- FurnishedYes
- Total Square Feet7474
- Acres0.11
- Lot Size5000
- Property ConditionGood
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