Historic Basalt Mixed-Use
For Sale
Contact for pricing
165 Midland Ave, Basalt, CO 81621
Iconic property with redevelopment potential in downtown Basalt.
Property Size5,547 SF
Lot Size0.32 Acres
Price / SF$2,253
Days on Market870
Property Features for 165 Midland Ave
General Information
Standard status
Active
Size
5,547 SF
Lot size
0.32 Acres
Property subtype
Hospitality, Land, Mixed Use
Building Details
Year Built
1896
Listing Agency:
Douglas Elliman Real Estate-Hyman Ave
Listed By:
Cynthia Milling · License #CO 216500151
Source:
Crexi
Added: Mar 14, 2024
Changed: Jul 10
Last Checked: Jul 28 at 2:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Douglas Elliman Real Estate-Hyman Ave
Investment Insights
Based on property information with market context.
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.
Key Highlights
- Prime Downtown Location: Centrally located on Basalt's main street, close to retail, dining, and the Roaring Fork River.
- Mixed‑Use Zoning (C‑2): Allows for a dynamic blend of commercial, residential, and institutional uses.
- Significant Redevelopment Potential under Basalt's C‑2 zoning, with conceptual studies suggesting a luxury boutique hotel or mixed‑use development.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Dining 9%
7-Eleven
Shops & Services
5,461 visits/mo
0.3 miles
Conoco
Shops & Services
3,648 visits/mo
0.3 miles
Exxon
Shops & Services
2,735 visits/mo
0.4 miles
Phillips 66
Shops & Services
2,227 visits/mo
0.1 miles
SUBWAY
Dining
1,521 visits/mo
0.4 miles
Demographics for 81621, CO
6,034
Population
3,145
Households
1.9
Avg Household Size
41
Median Age
59%
College-Educated
96%
High-School Grad
258.7 sq mi
ZIP Area
23
Density / Sq Mi
$103,721
Median Household Income
$58,008
Median Earnings
$2,220
Median Rent
$1,138,500
Median Home Value
Market
Properties on Market for Mixed-use properties in Basalt
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Iconic property with redevelopment potential in downtown Basalt.
Where is this mixed-use property located?
The property is located at 165 Midland Ave Basalt, CO.
What is the asking price?
The asking price for this property is $12,500,000.
What are key features of this property?
This property features: Prime Downtown Location: Centrally located on Basalt's main street, close to retail, dining, and the Roaring Fork River.; Mixed‑Use Zoning (C‑2): Allows for a dynamic blend of commercial, residential, and institutional uses.; Significant Redevelopment Potential under Basalt's C‑2 zoning, with conceptual studies suggesting a luxury boutique hotel or mixed‑use development.
