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    165 Midland Ave Basalt, CO 81621

    For Sale
    $14,000,000

    COMMERCIAL - Basalt, CO

    Property size:
    5,364 SF
    Lot size:
    0.32 Acres
    Days on Market:
    33
    Last Refresh:
    Dec 5 at 12:06 am

    Property Features for 165 Midland Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    C-2
    APN
    246707416001
    Basement
    Crawl Space
    Size
    5,364 SF
    Lot size
    0.32 Acres

    Building Details

    Year built
    1896
    Floors in Building
    2
    Building materials
    Frame, Brick
    Roof type
    Composition

    Douglas Elliman Real Estate (970) 925-8810 [email protected]

    Listing agent Cynthia Milling (970) 379-1771

    Listing date Nov 3, 2025

    Copyright © 2025 Aspen/Glenwood Springs MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Basalt Landmark with Redevelopment Potential

    This historic landmark property, the Colorado Midland Hotel, was built in 1896 and is recognized as a designated historic structure. It is situated in downtown Basalt, near boutiques, dining options, and the Roaring Fork River. The property features a first-floor restaurant and upper-level residential/office spaces. The C-2 Downtown Business District zoning encourages a mix of commercial, residential, and institutional uses. The building was remodeled in 2006, preserving its original architectural details. Existing leases for the commercial and residential units provide income. The property has approximately 0.32 acres and an existing +/-5,364 square feet of floor area. The site allows for redevelopment under Basalt's C-2 zoning. Conceptual studies suggest the feasibility of a boutique hotel or mixed-use redevelopment with ground-floor commercial and upper-level residential units. A 2023 Feasibility Study detailing potential buildout options is available upon request. The property is offered without entitlements, and all interested parties are encouraged to conduct independent due diligence with the Town of Basalt.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tempranillo Restaurant Spanish Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Basalt
    County
    Eagle
    State
    Colorado
    Longitude
    -107.033254
    Latitude
    39.368714

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    FAQs

    What type of property is this?
    Mixed-use property - Iconic mixed-use property in downtown Basalt with income potential.
    Where is this mixed-use property located?
    The property is located at 165 Midland Ave Basalt, CO.
    What is the asking price?
    The asking price for this property is $14,000,000.
    What are key features of this property?
    This property features: - Prime downtown location on Midland Avenue with high visibility.; - Mixed-use zoning (C-2) allows for flexible redevelopment options.; - Significant redevelopment potential on 0.322 acres with +\/-5,364 sq. ft.
    (970) 379-1771
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    Basalt, CO 81621
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    165 Midland Ave Basalt, CO 81621
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