Turnkey Mixed-Use Income
502 W Main St New Castle, CO 81647
502 W Main St, New Castle, CO, 81647
$1,450,000
For Sale
$1,450,000
Turnkey mixed-use building with seven residential units and a ground-floor salon lease, plus retained restaurant venting.
Days on Market25
Property Features for 502 W Main St
General Information
- Standard status
- Active
- Property subtype
- Commercial
Building Details
- Year Built
- 1898
Listing Agency
Douglas Elliman Real Estate
(970) 366-0379
Listed by
Gabe Molnar · License #FA.100095642
(970) 366-0379
Source
Elliman
Added: Jun 23 Checked: Jul 16 at 7:14 am
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Investment Insights
Based on property information with market context.
This turnkey mixed-use property is offered in excellent condition and combines lodging operations with residential and retail/commercial income. The building includes seven residential units and a ground-floor commercial space that is currently leased to a salon. For future food-and-beverage flexibility, the property retains a restaurant hood vent and grease trap, supporting potential restaurant or related concepts without removing that key infrastructure.
The property is located directly on Main Street in New Castle, Colorado, and sits within the Main Street revitalization context described in the remarks. Walking and biking are limited, with a walk score of 13 (car-dependent) and a bike score of 18 (somewhat bikeable), which can be relevant for tenant and guest access patterns.
From an operator or investor standpoint, the asset’s current setup is tied to active lodging operations, with the remarks describing an established short-term rental presence across major platforms. A buyer can step into the existing, revenue-producing operation, or pursue a different operating model based on the building’s existing mix of residential units and the restaurant vent/grease trap infrastructure. Per the seller, the property is now offered at a 9.2% cap rate.
The property is located directly on Main Street in New Castle, Colorado, and sits within the Main Street revitalization context described in the remarks. Walking and biking are limited, with a walk score of 13 (car-dependent) and a bike score of 18 (somewhat bikeable), which can be relevant for tenant and guest access patterns.
From an operator or investor standpoint, the asset’s current setup is tied to active lodging operations, with the remarks describing an established short-term rental presence across major platforms. A buyer can step into the existing, revenue-producing operation, or pursue a different operating model based on the building’s existing mix of residential units and the restaurant vent/grease trap infrastructure. Per the seller, the property is now offered at a 9.2% cap rate.
Key Highlights
- Turnkey mixed‑use building (1898) on Main Street with 7 residential units plus ground‑floor commercial space
- Ground‑floor salon space is currently leased; retained restaurant hood vent and grease trap preserve future food/beverage potential
- New pricing: offered at a 9.2% cap rate based on current lodging operations
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Mixed-use property - Turnkey mixed-use building with seven residential units and a ground-floor salon lease, plus retained restaurant venting.
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 $1,450,000.
What are key features of this property?
This property features: Turnkey mixed‑use building (1898) on Main Street with 7 residential units plus ground‑floor commercial space; Ground‑floor salon space is currently leased; retained restaurant hood vent and grease trap preserve future food/beverage potential; New pricing: offered at a 9.2% cap rate based on current lodging operations
