502 W Main St, New Castle, CO 81647

Building Details

Year Built

1898

Listing office Douglas Elliman Real Estate g***@elliman.com Show Phone

Listing date Jun 23, 2026

Source Elliman

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Overview

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.

Map

City

New Castle

County

Garfield

State

Colorado

Longitude

-107.5355702

Latitude

39.5717076

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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