Listing Agency: VENTURE GROUP Show Phone

Listed By: Kyle Serrano · License #II100075682 Show Phone

Added: Jun 16 Changed: Sep 6 Last Checked: Sep 7 at 8:06PM

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MLS# 20262854

Copyright © 2026 Grand Junction Area Association of Realtors. 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 remodeled mixed-use property combines seven individual residential units currently operated as short-term rentals with a commercial space on the main level. The residential component includes the furnishings, equipment, and FF&E used in the existing short-term rental operation. The commercial unit has restaurant infrastructure and is leased to a salon through 2029.

Located at 502 W Main Street in downtown New Castle, the property offers a work-live configuration or continued income-producing use. The current short-term rental operation reflects a cap rate of over 9.22%, while the stated pro forma cap rate approaches 12% under a long-term rental model.

Key Highlights

• Seven individual residential units currently used for short‑term rentals
• Main‑level commercial unit leased to a salon through 2029
• Restaurant infrastructure in the commercial space

Property Analytics

Property Profile

Current Use

Ore House Inn Hotel & Motel Coin Cloud Bitcoin ... Atm

Suggested Use

Top Pick Building Supply Real Estate Agency Dental Office Law Firm Auto Parts Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

7

Residential units

Multi-tenant

Tenancy

Turnkey business

Opportunity

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

201

Businesses Nearby

Explore this area Business Placement

Demographics for 81647, CO

7,445

Population

2,808

Households

2.7

Avg Household Size

37

Median Age

31%

College-Educated

95%

High-School Grad

284.9 sq mi

ZIP Area

26

Density / Sq Mi

$80,139

Median Household Income

$48,493

Median Earnings

$1,581

Median Rent

$470,000

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this short term rental properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Short term rental property - Remodeled mixed-use property with furnished residential rentals and an occupied commercial unit.

Where is this short term rental property located?

The property is located at 502 W Main Street New Castle, CO.

What is the asking price?

The asking price for this property is $1,450,000.

What are key features of this property?

This property features: Seven individual residential units currently used for short‑term rentals; Main‑level commercial unit leased to a salon through 2029; Restaurant infrastructure in the commercial space