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1146 E HWY 50Salida, CO 81201Price: $2,750,000

  • Price: $2,750,000
  • 507 Days on Market
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Federal 30-year interest rate: 7.22% last updated on Nov 30, 2023
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $2,750,000List Price
  • 1.1Acreage
  • 8,660Square Feet

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Location, Opportunity and Income...this one has it all! This well maintained commercial property is currently used as monthly rentals and has virtually no vacancy. There are 18 single units with mini kitchens, 1 modular home and 1 manufactured home, laundry, outdoor park/picnic area and ample parking. The rooms rent for $800-$1200/month each, the modular home rents for $2,000/month and the manufactured home is currently traded with groundkeeper (previously rented for $1000/month. Currently 14 units are rented under 1 lucrative lease from a local business for its employee housing. If monthly rentals are not your thing, you can revert back to a traditional motel model and rent out nightly. There is also excellent development potential to re-develop into condos or townhomes for lease or sale. Excellent location on a highly visible and bustling section of Highway 50 in the popular mountain town of Salida Colorado. Property is only minutes from downtown Salida where quaint shops, restaurants and bars abound. Salida is a popular tourist destination offering world class whitewater rafting, skiing, fishing, mountain biking and hunting. Centrally located within a couple hours drive to all major city's and airports in Colorado. The lot is quite large at 1.1 acres - room to expand or develop into multi-unit neighborhood. Come check out this dynamic business opportunity today!

Property Details of 1146 E HWY 50

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Listed by Susan Dempsey Hughes and Hunter Smith of Pinon Real Estate Group LLC

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