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0 Baths
7,474 sqft

$1,450,000

502 W Main Street, New Castle CO, 81647

Price per sqft$194.01
Built in1898
Property size7,474 sqft
Property typeCommercial

Overview

Active

Listed Jun 22, 2026

Updated Jun 23

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.

Additional information

MLS® ID
1014470

Interior Features

Bathrooms
0
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.11 Acres

Other Property Details

Taxes
$7,309
Tax Frequency
Annually
Furnished
Yes

Listed by: Douglas Elliman Real Estate, Gabriel Molnar,
Listing Contact: 970-366-0379 

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Data last updated 5:13 AM UTC, 6/23/2026

 

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