$1,775,000
New Castle, CO 81647
MLS# 181760
5 beds | 6 baths | 7474 sqft
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Property 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.
Details
Maps
Location Info
Current Price: $1,775,000
Type: Residential Income
Major Area: New Castle
Area: 10-New Castle Proper
Original List Price: 2000000
Asking Price: 1775000
Street #: 502
Street Direction Pfx: W
Street Name: Main
Street Suffix: Street
City/Town: New Castle
State/Province: CO
Postal Code: 81647
Keywords Info
Bedrooms: 5
Total Baths: 6
Baths - Full: 6
Lot Size: 3,001 - 6,000
Acreage: Refer to Lot Size
Garage: None
Pre-Fabricated Home: No
Listing Info
Listing Date: 2023-11-15
Seller is licensed Realtor: No
REO: No
Member Association: Glenwood Association
County: Garfield
General Info
Sub/Loc: Townsite of New Castle
Legal: Section: 31 Township: 5 Range: 90 Subdivision: ORIGINAL TWNSTE NEW CASTLE Block: 8 Lot: 1 AND:- Lot: 2
Zoning: Mixed Use
Nbr of Acres: 0.11
Lot SqFt: 5000
Lv Ht SqFt: 7474
Total SqFt: 7474
Price/LvH SqFt: 237.49
Levels: 2
Main Floor Master: Yes
Year Built: 1898
Parcel #: 212331222019
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
HOA Dues Y/N: No
HOA Transfer Fee: No
Status Change Info
Status: Active
Remarks
Public Remarks: 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.
Inclusions
Inclusions: All kitchen appliances, laundry equipment, & trade fixtures as of the date of this Listing Agreement shall be included in the advertised price and conveyed to Buyer upon Closing. All personal property & furnishings as of the date of this contract shall also be included
Exclusions
Exclusions: TV Stand in Iceberg Room, Painting by Thomas Elmo Williams in 1892
Property Features
Laundry Facility: Laundry Room
Style: Two Story
Construction: Frame
Exterior: Brick Veneer
Substructure: Unfinished Basement
Roof: Membrane
Condition: Excellent
Heating: Baseboard; Forced Air
Gas: Natural Gas
Cooling: A/C
Sanitation: Sewer
Possession: DOD
Extras: Electric Vehicle Hook-Up; Guest/Caretaker Qtrs; Softener
Terms Offered: Cash; New Loan
Mineral Rights: No
Water Rights: No
Documents on File: Financials
Location Amenities: Views
Sign: Yes
Listing Office: Roaring Fork Sotheby's Meadows
Last Updated: February - 28 - 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) 366-3511