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    502 W Main St New Castle, CO 81647

    For Sale
    $1,770,000

    COMMERCIAL - New Castle, CO

    Days on Market:
    156
    Last Refresh:
    Dec 9 at 3:06 pm

    Property Features for 502 W Main St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active

    VENTURE GROUP (970) 778-0796

    Listing agent Kyle Serrano (970) 778-0796

    Listing date Jul 7, 2025

    Overview

    New Castle Investment Property

    This commercial and multi-family investment property is located in the mountain town of New Castle, Colorado, on Main Street. The property features a commercial unit on the main level, currently leased to a salon through 2029, and seven individual residential units used for short-term rentals. The commercial space has infrastructure for a restaurant. The entire property has been remodeled and updated, and is offered turn-key with all furnishings, equipment, and FF&E used for the short-term rental business. The property could be used as a work-live scenario, or strictly for investment. The property has strong existing cash-flow and still upside for increased NOI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    Garfield
    State
    Colorado
    Longitude
    -107.535589
    Latitude
    39.571693

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    FAQs

    What type of property is this?
    Mixed-use property - Commercial and multi-family investment property in New Castle, Colorado.
    Where is this mixed-use property located?
    The property is located at 502 W Main St New Castle, CO.
    What is the asking price?
    The asking price for this property is $1,770,000.
    What are key features of this property?
    This property features: - High Cap Rate: Current cap rate over 8% indicates strong investment potential.; - Turn-Key Short Term Rental Business: Includes all furnishings, equipment, and FF&E for immediate operation.; - Prime Location: Located downtown on Main Street in the desirable mountain town of New Castle, CO.
    (970) 778-0796
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    502 W Main St New Castle, CO 81647
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    New Castle, CO 81647
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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
    502 W Main St New Castle, CO 81647
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