Inactive - Ryan Thompson - Coldwell Banker Distinctive Properties Logo
$1,450,000
( $194.01Per Sq Foot )
 $7,784 est/mo Sourced by Back At You
Source MLS Verified

502 W Main Street,New Castle, CO 81647

New Castle, CO 81647

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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 #193444
Listing TypeFor Sale
StyleBusiness With Real Estate
Sub-TypeResale
StatusActive
Year1898
Days On Site61
Listing Provided ByDouglas Elliman Real Estate-Willits | Gabe Molnar

Features

SQ Feet7,474
ZoningC/1 Commercial
Acreage0.11

Taxes

Property7309

Area Information

StateCO
CountyGarfield
CityNew Castle
Zip Code81647
AreaNew Castle
Listing VS Median (in 81647)
Price:
$1,450,000
low | high
Med:
$707,000
100% of Average
sqft:
7,474
low | high
Med:
2,096
100% of Average
$ / sqft:
$194
low | high
Med:
$338
24.324186516046% of Average
On site:
61
low | high
Med:
3.5
100% of Average
Sourced by Back At You

Market Activity 81647

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Additional Information

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© Copyright 2026 by Aspen/Glenwood Springs MLS, Inc. ALL RIGHTS RESERVED WORLDWIDE. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Aspen/Glenwood Springs MLS, Inc.

Contact

Learn More About This Property

Ryan Thompson

Ryan Thompson

Coldwell Banker Distinctive Prop

RRE-RBS-LIC-81435 (406) 600-6530ryanmontanarealty@gmail.com
StateCO
CountyGarfield
CityNew Castle
Zip Code81647
AreaNew Castle
Listing VS Median (in 81647)
Price:
$1,450,000
low | high
Med:
$707,000
100% of Average
sqft:
7,474
low | high
Med:
2,096
100% of Average
$ / sqft:
$194
low | high
Med:
$338
24.324186516046% of Average
On site:
61
low | high
Med:
3.5
100% of Average
Sourced by Back At You
Listing Updated: June 22, 2026 at 10:35:05 AM PDT

Inactive - Ryan Thompson - Coldwell Banker Distinctive Properties