$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: 193444

Interior Features

Bathrooms: 0
Basement: No

Exterior Features

Lot Size: 0.11 Acres

Other Property Details

Taxes: $7,309
Tax Frequency: Annually
Furnished: Yes

Listed by Gabe Molnar with Douglas Elliman Real Estate-Willits, Listing Contact: (970) 925-8810

The IDX display contains information sourced from the Aspen Glenwood MLS as of 6/23/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

Data last updated on 6/23/2026 at 5:03 AM UTC