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    Property profile & analytics

    151 W Main St New Castle, CO 81647

    • Commercial real estate
    • 16,453 SF
    • 0.85 lot acres
    For Lease
    View listing
    $2.00 SF/Yr
    Value Estimation
    $510,000
    Location Intelligence
    Property ID
    US13-1096234
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 151 W Main St

    Year built
    1910
    Construction
    METAL FRAME
    Lot size
    0.85 lot acres
    Property size
    16,453 SF
    Property type
    Commercial real estate
    APN
    212331407002
    APU
    212331407002

    Description

    This exceptional opportunity presents itself in a beautifully restored historic school building, located in the heart of New Castle's vibrant downtown. The property, totaling over 16,000 square feet, offers a unique blend of character and modern convenience. Multiple tenancy options are available, with spaces ranging from a minimum of 390 square feet to a maximum contiguous space of 5,176 square feet. Currently, 5,566 square feet of office space is vacant and ready for immediate occupancy. The building boasts over a dozen private offices, allowing for diverse configurations to perfectly suit your business needs, whether you require a single executive office or a larger suite. This prime downtown location provides unparalleled convenience, with easy access to local shops, cafes, and public transportation. The property is zoned for City use within Garfield County, ensuring a seamless transition for your business. The flexible floor plans allow for customization to meet your specific requirements, making this an ideal location for a variety of businesses seeking a unique and functional workspace in a charming mountain town setting. Don't miss this chance to establish your business in this remarkable historic building.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $440,000

    • CAP approach

      CAP return
      Estimation
      6%
      $605,000
      6.5%
      $665,000
      7%
      $585,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $615,000
      Geo Method
      $560,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $630,000
      Retail
      $810,000
      Mixed-Use
      $765,000
      Hospitality
      $605,000
      Educational
      $585,000
      Residential Income
      $605,000
      Energy
      $775,000
      Income-Based Land
      $625,000
      Food Service
      $685,000

    Location Insight

    • Map
    • Local Demand
    City
    New Castle
    County
    Garfield
    State
    Colorado
    Longitude
    -107.532
    Latitude
    39.5711
    CBSA code
    24060
    CBSA name
    GLENWOOD SPRINGS, CO MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $19,649
    $82,860
    $232,580
    $315,440
    -
    $297,000
    $833,610
    $1,130,610

    Comparable in this City

    • Value Estimation by Request
      1,850 SF

      201 Main St

      COMMERCIAL (GENERAL) • 1,850 SF
      201 Main St, New Castle, CO 81647
      View Details
    • Value Estimation
      $335,000
      3,028 SF

      791 Burning Mtn Ave

      COMMERCIAL (GENERAL) • 3,028 SF
      791 Burning Mtn Ave, New Castle, CO 81647-9679
      View Details
    • Value Estimation
      $255,000
      1,178 SF

      312 Main St

      COMMERCIAL (GENERAL) • 1,178 SF
      312 Main St, New Castle, CO 81647
      View Details
    • Value Estimation
      $390,000
      5,120 SF

      126 4th St

      COMMERCIAL (GENERAL) • 5,120 SF
      126 4th St, New Castle, CO 81647-5002
      View Details
    • Value Estimation
      $355,000
      2,403 SF

      810 Castle Vly Blvd

      COMMERCIAL (GENERAL) • 2,403 SF
      810 Castle Vly Blvd, New Castle, CO 81647-9441
      View Details
    • Value Estimation by Request
      3,150 SF

      345 County Rd 262

      COMMERCIAL (GENERAL) • 3,150 SF
      345 County Rd 262, New Castle, CO 81647
      View Details

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    Similar Nearby for Lease

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    151 W Main St
    New Castle, CO 81647
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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