26
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$1,450,000
Est. payment /mo
Active
502 W Main Street New Castle, CO 81647
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Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20262854
Annual Tax Amount $7,309
Lot Dimensions 50 x 100
Property Sub-Type Commercial
Property Description
Commercial and Multi-Family/Short Term Rental Investment property in the desirable mountain town of New Castle, CO! Located downtown on Main Street, this property could be a possible work-live scenario, or be used strictly for investment with a current cap rate of over 9.22% if ran as an STR operation. Pro-Forma Cap is nearly at 12% if converted to long term rentals. All FF&E and furnishings included! Property has 7 individual residential units used for Short Term Rentals currently (AirBNB / VRBO), as well as a commercial unit on main level with infrastructure for a restaurant, but currently leased to a Salon through 2029. The entire property has been remodeled and updated, and comes turn-key with all furnishings, equipment and FF&E used for the short-term rental business. Rare property to find in a quickly appreciating.
Location
State CO
County Garfield
Area New Castle
Direction Located on the corner of W Main St and 5th Street in New Castle, CO.
Building
Lot Description Corner Lot
Listed by VENTURE GROUP
NEARBY SCHOOL & BUSINESS
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