Historic Landmark Mixed-Use
165 Midland Avenue Basalt, CO 81621
165 Midland Avenue, Basalt, CO, 81621
$12,500,000
For Sale
$12,500,000
COMMERCIAL - Basalt, CO
Property Size5,364 SF
Lot Size0.32 Acres
Price / SF$2,330
Days on Market892
Property Features for 165 Midland Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C-2
- Basement
- Crawl Space
- Standard status
- Active
- APN
- 246707416001
- Size
- 5,364 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Condominium Units 1,2 and 3, Building 1, AND CONDOMINIUM UNIT 11, BUILDING 3 Frying Pan Inn Condomimiiums.
- Tax Annual Amount
- 19113
Building Details
- Year built
- 1896
- Floors in Building
- 2
- Building materials
- Frame, Brick
- Roof type
- Composition
Listing Agency
Douglas Elliman Real Estate-Willits
(970) 925-8810
310 Market Street #104, Aspen, CO
Listed by
Cynthia Milling · License #EA.001328368
(970) 379-1771
Added: Feb 9, 2024 Updated: May 14 at 6:56 pm Checked: Jul 20 at 9:06 pm
MLS# 182521
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This historically significant property, the Colorado Midland Hotel, was built in 1896 and is recognized as a designated historic structure. The landmark building is situated in downtown Basalt, near boutiques, dining options, and the Roaring Fork River. The property offers investment and redevelopment potential. Studies suggest the feasibility of a boutique hotel or mixed-use redevelopment with ground floor commercial space and upper-level residential units. The existing configuration includes 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 commercial and residential units provide income. The site, with approximately 0.32 acres and an existing +/-5,364 sq. ft. of floor area, allows for redevelopment under Basalt's C-2 zoning. 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.
Key Highlights
- Prime Downtown Location: Situated in the heart of Basalt on Midland Avenue.
- Mixed‑Use Redevelopment Potential: Zoned C‑2, allowing for a dynamic blend of uses.
- Historic Landmark: Iconic Colorado Midland Hotel, built in 1896, offering exceptional character.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Tempranillo Restaurant
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Hotel - Iconic Basalt property with redevelopment potential in prime downtown location.
Where is this hotel located?
The property is located at 165 Midland Avenue Basalt, CO.
What is the asking price?
The asking price for this property is $12,500,000.
What are key features of this property?
This property features: Prime Downtown Location: Situated in the heart of Basalt on Midland Avenue.; Mixed‑Use Redevelopment Potential: Zoned C‑2, allowing for a dynamic blend of uses.; Historic Landmark: Iconic Colorado Midland Hotel, built in 1896, offering exceptional character.
