502 W Main Street, New Castle, CO 81647
sale
$1,450,000
|
Other
Courtesy Of Douglas Elliman Real Estate
New PRICING - Now offered at 9.2% Cap Rate. ++++ Turnkey mixed-use income property in excellent condition on Main Street in one of Colorado's most exciting small towns. At the reduced ask price, existing lodging operations produce a 9.2% cap rate. Seven residential units plus a ground-floor commercial space currently leased to a salon, with a retained restaurant hood vent and grease trap that preserves future food and beverage potential. ++++ New Castle recently won the 2026 Colorado Downtown Excellence Award for Best Place in the small community category, recognizing its thriving Main Street revitalization -- and the Ore House Inn sits at the center of it.++++ Strong operational history with established presence across all major short-term rental platforms -- a buyer steps into an active, revenue-producing operation with listings, systems, and reviews already in place. Flexible exit: continue as STR, pivot to furnished monthly stays, or convert to long-term residential leasing. Directly on Main Street with draw from the Glenwood Springs/Vail/Aspen corridor.
Read More About This Property
Read Less About This Property
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. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Age: Over 50 Years Old
- Amenities: Security System
- Exterior Type: Frame
- Legal Description: SECTION: 31 TOWNSHIP: 5 RANGE: 90 SUBDIVISION: ORIGINAL TWNSTE NEW CASTLE BLOCK: 8 LOT: 1 AND:- LOT: 2
- MLSID: 193444
- Roof Type: Membrane
Data powered by Attom Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.