502 W Main Street, New Castle, CO 81647
COMMERCIAL - New Castle, CO
- Added:
- Jun 22, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 22 at 11:06 pm
Property Features for 502 W Main Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C/1 Commercial
- Security features
- Security System
- Standard status
- Active
- APN
- 212331222019
- Size
- 7,474 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- SECTION: 31 TOWNSHIP: 5 RANGE: 90 SUBDIVISION: ORIGINAL TWNSTE NEW CASTLE BLOCK: 8 LOT: 1 AND:- LOT: 2
- Tax Annual Amount
- 7309
Utilities
- Water source
- Public
Building Details
- Year built
- 1898
- Building materials
- Frame
- Roof type
- Membrane
Listing agent Gabe Molnar License #FA.100095642 (970) 366-0379
Listing office Douglas Elliman Real Estate-Willits 310 Market Street #104, Aspen, CO (970) 925-8810
Listing date Jun 22, 2026
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Turnkey mixed‑use income property with 7 residential units plus a ground‑floor commercial space leased to a salon
- Offered at a 9.2% cap rate based on existing lodging operations
- Directly on Main Street, with access/demand draw from the Glenwood Springs/Vail/Aspen corridor
- Frame construction; built in 1898
- Public water; membrane roof
- Includes retained restaurant hood vent and grease trap to support future food and beverage use
Overview
Located at 502 W Main Street in New Castle, Colorado, the property sits directly on Main Street within C/1 Commercial zoning. It is positioned to serve guests and residents drawn from the surrounding corridor.
For buyers seeking an income-producing hospitality and mixed-use setup, the offering includes an operating lodging component and an additional leased commercial tenant. The combination of residential units, ground-floor retail tenancy, and available restaurant infrastructure supports multiple paths for continued operation, including ongoing lodging use or other residential leasing options depending on the buyer’s plan.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $174.0k | $23.28 |
| − Vacancy | −$7.8k | −$1.05 |
| EGI | $166.2k | $22.23 |
| − OpEx | −$74.8k | −$10.00 |
| NOI | $91.4k | $12.23 |
Alternative Uses
Current Use by Public Records
Map
- City
- New Castle
- County
- Garfield
- State
- Colorado
- Longitude
- -107.535603
- Latitude
- 39.571719
