502 W Main Street, New Castle, CO 81647

Listing agent Kyle Serrano License #II100075682 Show Phone

Listing office VENTURE GROUP 627 24 1/2 RD UNIT D, GRAND JUNCTION, CO Show Phone

Listing date Jun 16, 2026

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MLS# 20262854

Copyright © 2026 Grand Junction Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This for-sale mixed-use property includes seven individual residential units currently operated as short-term rentals (Airbnb/VRBO), along with a commercial unit on the main level with infrastructure for a restaurant. The entire property has been remodeled and updated, and it is offered turn-key with all furnishings, equipment, and FF&E included for the short-term rental business. The main-level commercial space is currently leased to a salon through 2029.

Located downtown on Main Street in New Castle, Colorado, the configuration supports multiple operating models, including a potential work-live scenario or a focused investment approach.

For buyers considering an STR strategy, the seller cites a current cap rate of over 9.22% if run as an STR operation. If the residential units were instead converted to long-term rentals, the pro-forma cap is cited as nearly 12%. The ground-floor commercial space, while leased today, includes the restaurant infrastructure should future repositioning align with a tenant’s concept.

Map

City

New Castle

County

Garfield

State

Colorado

Longitude

-107.535589

Latitude

39.571693

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FAQs

What type of property is this?

Short term rental property - Turn-key property with seven short-term rental units and a ground-floor commercial space, leased to a salon.

Where is this short term rental property located?

The property is located at 502 W Main Street 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: Downtown Main Street New Castle, CO mixed commercial and multi‑family short‑term rental investment property; 7 individual residential units currently operated as short‑term rentals (AirBNB/VRBO); Main level commercial unit with infrastructure for a restaurant; currently leased to a salon through 2029