493 Main St Creede, CO 81130-5094
This exceptional mixed-use property, located at 493 S Main St in Creede, Colorado, presents a unique investment opportunity. The 3,011 square foot building, constructed in 2002, sits on a 5,000 square foot lot and boasts five units, offering a blend of residential and commercial potential. The permitted zoning allows for both commercial and residential use, making it ideal for a variety of ventures. Currently configured as four professionally decorated apartments (all furnishings included), this property offers immediate rental income potential. The apartments are thoughtfully designed, with varying layouts and amenities. Mayfly Manor features three bedrooms and two and three-quarter bathrooms, a full kitchen, and a sitting area. Stonefly Flat offers one bedroom, a three-quarter bath, a kitchenette, and laundry facilities. Upstairs, Caddis Cove includes two bedrooms, one bathroom, a full kitchen, and a living room. Finally, Hopper Hideaway boasts one bedroom, one bathroom (with a jacuzzi tub and separate shower), a full kitchen, a living room, and its own laundry area. The building's prime downtown location, across from Kip's Grill, places it within walking distance of restaurants, shops, art galleries, and the Creede Repertory Theatre. The large covered front porch provides an ideal spot to enjoy Creede's vibrant events, such as the Fourth of July parade. The asking price is $1,090,000, translating to $362.01 per square foot. This two-story building represents a rare opportunity to acquire a thriving, established business in a desirable Colorado mountain town.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.