Historic Basalt Property with Redevelopment
165 Midland Ave Basalt, CO 81621
165 Midland Ave, Basalt, CO, 81621
$12,500,000
For Sale
$12,500,000
Iconic mixed-use property in downtown Basalt with redevelopment potential.
Property Size5,364 SF
Lot Size0.32 Acres
Price / SF$2,330
Days on Market132
Property Features for 165 Midland Ave
General Information
- Standard status
- Active
- Size
- 5,364 SF
- Lot size
- 0.32 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1896
Listing Agency
Douglas Elliman Real Estate
(970) 379-1771
Listed by
Cynthia Milling · License #EA.001328368
(970) 379-1771
Source
Elliman
Added: Mar 11 Updated: Jul 10 at 3:49 pm Checked: Jul 19 at 5:33 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This historic property, the Colorado Midland Hotel, was built in 1896 and is recognized as a designated historic structure. The property is situated in downtown Basalt, near boutiques, dining options, and the Roaring Fork River. The existing configuration includes a first-floor restaurant and upper-level residential/office spaces. The property is zoned C-2 Downtown Business District, which 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 has approximately 0.322 acres and an existing ±5,364 sq. ft. of floor area. The site allows for redevelopment potential 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. Studies indicate the feasibility of a luxury Boutique Hotel or mixed-use redevelopment with ground floor commercial and upper level residential units. The property is located on Midland Avenue, surrounded by retail, dining, and cultural amenities.
Key Highlights
- Prime downtown location on Midland Avenue, steps from amenities and the Roaring Fork River.
- Significant redevelopment potential under C‑2 zoning for a boutique hotel or mixed‑use development.
- Mixed‑use potential with existing restaurant and residential/office spaces.
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?
Mixed-use property - Iconic mixed-use property in downtown Basalt with redevelopment 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 $12,500,000.
What are key features of this property?
This property features: Prime downtown location on Midland Avenue, steps from amenities and the Roaring Fork River.; Significant redevelopment potential under C‑2 zoning for a boutique hotel or mixed‑use development.; Mixed‑use potential with existing restaurant and residential/office spaces.
