About this property
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 8%. 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 mountain-town, with strong existing cash-flow and still upside for increased NOI.
Property details
- Property Type
- Improved property
- Building Type
- Freestanding
- Building Size
- 7,474 sqft
- Zoning
- Commercial
- Area
- New Castle
- Taxes
- 5891.44
- Lot Dimensions
- 50x100
- Lot Description
- Corner Lot
Location
- Address
-
502 W. Main Street
New Castle, Colorado 81647