502 W Main Street

New Castle, CO 81647

About this property

Welcome to Ore House Inn! This property has a rich history and is an iconic landmark in the small mountain town of New Castle. With a full remodel over the last several years, the building and business are truly turn key and ready for a new owner. The property offers seven residential units and one commercial space. Currently the commercial space is leased through 2024 to a boutique gift shop and the seven residential units are being used as short term rentals. The ground floor consists of the commercial space plus one residential unit and upstairs are six additional rooms that are connected with hallways that characterize New Castle's mining history. This property has a history of strong cash flow and little vacancy. With the Western Slope continuing to experience rapid growth, there is no reason to believe this trend will not continue for many years to come. Located on Main Street, it's an easy stroll to restaurants, shops, hiking and biking trails. The interstate is located just a couple of minutes away and also within a short drive are world class rivers, famous hot springs, several golf courses, skiing, hunting, camping, climbing and more. Aspen, Vail and Grand Junction are just one hour away. The property has four private parking spots including an EV charging station. Whether you're searching for a stable investment property, short term rental, or a mixed use space to accommodate your commercial needs, this property should be considered.

Features and Additional Information

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$1,775,000 Active
5 Beds
7,474 SQFT

Presented By Real Estate West

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Get in touch today! Phone: 1-970-243-7100
License #EC100015511
Roaring Fork Sotheby's Meadows
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Area Information

New Castle | Garfield County | Townsite of New Castle

$ 1,775,000
This listing is play_arrow 184.0% higher than the average in the area
$ 625,000 in the area
7,474 SqFt
This listing is play_arrow 373.5% larger than the average in the area
1,579 SqFt in the area
$ 237 $/SqFt
This listing is play_arrow 50.1% less than the average in the area
$ 476 $/SqFt in the area
241 days on site
This listing is play_arrow 377.2% above the average in the area
51 days on site in the area

Schools in the Area

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    Elementary School
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Listed By Shawn Manwaring
Brokerage: Roaring Fork Sotheby's Meadows

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