One address, two income streams and a highly visible Main Street location come together at 729 East Main Street, a familiar Rangely landmark positioned at the east gateway into town. This well-maintained mixed-use property offers approximately 1,800 square feet divided between an occupied commercial suite in front and a two-bedroom apartment in back, creating an appealing opportunity for an investor, owner-user or live/work buyer.
The commercial portion features a bright street-facing reception or showroom area, multiple offices and workspaces, a kitchenette, half bath and additional storage or flex space. Its adaptable layout could support a variety of office, service, studio, retail or other locally approved uses.
The residential portion includes a comfortable living room, functional kitchen with abundant cabinetry, two bedrooms, a full bath, laundry area and additional flex space. Separate entrances allow both sides to operate independently. The property currently generates $1,600 per month in combined rent, with the commercial space rented for $550 and the apartment rented for $1,050, providing $19,200 in annual gross income.
Both tenants are on month-to-month agreements and have expressed interest in remaining. Based on current rents and reported operating expenses, the estimated cap rate at the current asking price is approximately 10%, subject to Buyer verification. The owners have invested substantially in the property and maintained it well.
Additional features include generous off-street parking, rear alley access, fenced outdoor areas, a private patio, mature shade trees and a detached storage shed. Its prominent location makes it easy to find, while its long history has made it a recognizable part of the Rangely community.
Continue operating it as an income-producing mixed-use investment, occupy one portion while leasing the other, or explore a different configuration subject to local zoning and approval. Properties combining commercial visibility, residential income, parking and adaptable space are difficult to find. Schedule a private showing and see the possibilities at 729 East Main Street. THE PHOTOS ARE ONLY THE BEGINNING-CLICK THE VIDEO AND 3D MATTERPORT LINKS TO TOUR BOTH SPACES FROM ANYWHERE!
