165 Midland Ave, Basalt, CO 81621

This property presents a development opportunity with mixed-use zoning in downtown Basalt. The Colorado Midland Hotel, a designated historic structure built in 1896, is situated in the heart of downtown Basalt, near boutiques, dining options, and the Roaring Fork River. The property combines character with investment and redevelopment potential, offering income from residential units on the upper level and a commercial restaurant below. The property is located on Midland Avenue in a central lot surrounded by retail, dining, and cultural amenities. The existing configuration includes a first-floor restaurant and upper-level residential/office spaces. The C-2 Downtown Business District zoning encourages a blend of commercial, residential, and institutional uses. The property was remodeled in 2006 while preserving its original architectural details. Existing leases for commercial and residential units provide income. With 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. Conceptual studies indicate the feasibility of a luxury boutique hotel or mixed-use redevelopment with ground-floor commercial and upper-level residential units. 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.