$13,495,000
Basalt, CO 81621
MLS# 182521
5547 sqft
1 / 8
Property Description
Located only 20 minutes from Aspen, Colorado this Commercial Land Opportunity is in the heart of downtown Basalt, Colorado. The property consists of .322 acres with significant possibility to develop high end condominium hotel units. Presently, there is approximately 5,400 square foot multi-use space built on the property. The historical dining and bar area are accented by two fireplaces which consists of approximately 1,820 square feet. The remaining commercial space consists of the Kitchen, Office and Storage areas all on the first floor. Three residential units are also located on the property on the upper level and to the rear of the building. Future developments will require approvals from the Town of Basalt. Restaurant Space: Includes the Kitchen, Office and Storage areas on the first floor. Patios: Remodeled attached Patio which is approx. 1,820 square foot with a new roof and drop down enclosures to house guests year round with installed infra heaters. New Stone Patios allow for additional seating in the summer. Property also has an outdoor play ground for children. Square Footage: Seller represents that the square footage amounts are approximates. Buyer to verify square footages. Feasibility Study: Feasibility study created in 2023 identifies future development possibilities. Property is not being conveyed with entitlements. Buyer to verify entitlements with the Town of Basalt and obtain approvals.
Details
Maps
Documents
Location Info
Current Price: $13,495,000
Inside City Limits: Yes
Condominiumized: Yes
Zoning City: Basalt Colorado
Zoning County: Eagle County
Type: Commercial
Major Area: Basalt
Area: 05-Basalt Proper
Asking Price: 13495000
Original List Price: 13495000
Street #: 165
Street Name: Midland
Street Suffix: Avenue
City/Town: Basalt
State/Province: CO
Postal Code: 81621
Keywords Info
Total Building SqFt: 5,001 - 10,001
Association Dues: No
Listing Info
Occupant: Owner
Listing Date: 2024-02-09
Seller is licensed Realtor: No
Short Sale: No
REO: No
Auction: No
Foreclosure: No
Member Association: Glenwood Association
General Info
Sub/Loc: Basalt Center
County: Eagle
Legal: Condominium Units 1,2 and 3, Building 1, AND CONDOMINIUM UNIT 11, BUILDING 3 Frying Pan Inn Condomimiiums.
Zoning: C-2
Lot SqFt: 13939
Nbr of Acres: 0.32
Levels: 2
Total SqFt: 5547
Unit SqFt: 1820
Inventory: No
Parcel #: 246707416001
Year Built: 1892
Year Remodeled: 2006
Directions: From Aspen head down valley on Hwy 82 and exit at the town of Basalt. Take a right and drive over the bridge onto Midland Avenue. Property is located in the middle of the town on the right next to Alpine Bank.
Financing Info
Metro Tax District: No
Taxes: 15480.2
Tax Year: 2023
Transfer Tax: No
Status Change Info
Status: Active
Remarks
Public Remarks: Located only 20 minutes from Aspen, Colorado this Commercial Land Opportunity is in the heart of downtown Basalt, Colorado. The property consists of .322 acres with significant possibility to develop high end condominium hotel units. Presently, there is approximately 5,400 square foot multi-use space built on the property. The historical dining and bar area are accented by two fireplaces which consists of approximately 1,820 square feet. The remaining commercial space consists of the Kitchen, Office and Storage areas all on the first floor. Three residential units are also located on the property on the upper level and to the rear of the building. Future developments will require approvals from the Town of Basalt.
Restaurant Space: Includes the Kitchen, Office and Storage areas on the first floor.
Patios: Remodeled attached Patio which is approx. 1,820 square foot with a new roof and drop down enclosures to house guests year round with installed infra heaters. New Stone Patios allow for additional seating in the summer. Property also has an outdoor play ground for children.
Square Footage: Seller represents that the square footage amounts are approximates. Buyer to verify square footages.
Feasibility Study: Feasibility study created in 2023 identifies future development possibilities. Property is not being conveyed with entitlements. Buyer to verify entitlements with the Town of Basalt and obtain approvals.
Current Use
Other: Residential
Units
Units: 3
Property Features
Allowable Uses: Hotel/Lodge; Income; Mixed Use; Restaurant/Bar; Retail; Single Family Res
Current Use: Restaurant
Construction: Brick; Frame
Substructure: Crawl Space
Roof: Composition Shingles
Condition: Good
Heating/Cooling: Baseboard; Central AC; Central Heating; Electric; Forced Air; Gas; Other
Electric: Yes
Gas: Natural Gas
Water: Community
Sanitation: Community
Parking: 11 - 20 Spaces; Off Site; Street Parking
Access: Paved
Extras: Fire Alarm; Fireplace; Furnished; Kitchen Area; Landscaped; Living Quarters; Restrooms; Smoke Detectors; Storage
Location Amenities: Corner Lot; High Traffic Loc; High Visibility; Highway Access
Occupant: Owner Occupied; Tenant Occupied
Disclosures: 1031 Exchange; Lease/Mve Out Clause
Documents on File: CC & R's; Easements; Financials; Leases; Rent Roll; Survey/ILC; Title Insurance
Water Rights: No
Mineral Rights: No
Terms Offered: Cash; Joint Venture; Lease w/Option to Purchase
Sign: No
Possession: DOD; Negotiable; Subject to Lease
Tempranillo Survey 
Listing Office: Douglas Elliman Real Estate-SMV
Last Updated: February - 27 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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Broker Attribution:
(970) 923-4700