About This Home

This 0-bedroom, 0-bathroom commercial at 502 W Main Street in New Castle, CO is listed for $1,450,000. on a N/A lot.

Listing Description

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 9.22% if ran as an STR operation.

Pro-Forma Cap is nearly at 12% if converted to long term rentals. All FF&E and furnishings included! 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.

Monthly Cost Estimate

$7,755/mo

20% down · 6.5% · 30 years

Principal$1,049
Interest$6,283
Insurance$423

Estimates only. Actual payments may vary.

Location

502 W Main Street

New Castle, CO 81647

Questions & Answers

This 0-bedroom, 0-bathroom commercial at 502 W Main Street is listed at $1,450,000. The estimated monthly payment is $7,755 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

This property is listed by Kyle Serrano.

KS

Kyle Serrano

Agent at VENTURE GROUP

Listed by VENTURE GROUP · Broker phone: 970-778-0796

MLS# 20262854· Source: Grand Junction Area Association of Realtors· 133 days on PropertySimple

Copyright © 2026 Grand Junction Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

502 W Main Street, New Castle, CO 81647

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