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117 Ponderosa

Ridgway, CO 81432
  • $1,125,750
  • STATUS: Active
  • ON SITE: 292 Days
  • MLS #: 777406
$1,125,750
  • 0
    BEDS
  • 3.38
    ACRES
  • 6
    BATHS
  • 2
    1/2 BATHS
  • 14,528
    SQFT
  • $77
    $/SQFT
Type:
Multi-Family
Built:
1985
County:
Area:

School Information

Elementary School:
Middle School:
High School:
Listing courtesy of Telluride Realty, Llc.


Description

Introducing "The Keep", Ridgway CO (Telluride) Simply put, there is nothing else like it in the Telluride/Ouray region. Zoned Commercial Multi-Use or Mixed Use or 100% Residential, this substantial 14,500+foot structure is ready for your vision! Just 38 miles to Telluride, as you pass Ralph Lauren's Ranch or 14 minutes to the local Hot Springs resort. The lot is 3.2+ acres with future building potential (country store or garages etc ) The lot borders open space to the North and the Golf Course abuts it to the East. This stellar location includes a breathtaking backdrop of the jagged Cimmarrons and San Juans and the 14,000 ft Mt Sneffels. The lot also borders/ abuts the Divide Ranch & Clubs Award-winning 18 hole Golf Course (3rd-4th Hole). This parcel was the original corporate residences of the developer and golf clubhouse built in 1983,(formally Fairway Pines), and has been resurrected with many recent improvements: a fitness center /Gym /ADU-rental unit /residence / new flooring / turf /decking/ Bar / flooring / entertainment area and stage /indoor basketball, 2 tennis courts / putt putt / 2 climbing walls and batting cages and golf driving. The extensive improvements include, but not limited to ADA compliance modification in 2012, new roof 2012 , newly engineered septic and conversion to natural gas. The possibilities for highest and best use include but are not limited to...Brewery/Restaurant/Distillery/Medical Marijuana MMJ/, Country Store, General, Office, Lodging, Professional/Medical, basically you can name it! A wedding planner and events/retreat /music live work play layout seems very easy! The prior sprawling indoor salt water pool (2,400 feet) can easily be brought back into compliance, currently its set up as a music venue/sunken entertainment area. This is truly an incredible lifestyle and live work opportunity ,for the wise visionary as there is not another live work play structure for 20 miles in the county/ town or region. Currently vacant Income projected : 2k a month for the ADU = $24,000 Main residence =3k month =$36,000 Summary $60,000 @ 4% cap rate = $1,200,000 This does NOT include any income from the gym or venue or grounds for weddings etc, this is "long term" rental income, the short term or airbnb would be dramatically higher. ( Camp/ Retreat / Church / Housing / non profit /Multifamily / JV -VC / Tech start up all allowed)

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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Berkshire Hathaway HomeServices Western Colorado Properties contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-10-22T23:56:23.41.
www.homesforsaledurango.com/homes/112975217
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117 Ponderosa Ridgway, CO 81432

  • Price: $1,125,750
  • Status: Active
  • MLS #: 777406
0
Beds
6
Baths
2
½ Baths
3.38
Acres
14,528
SQFT
$77
$/SQFT
1985
Built
Neighborhood:
Fairway Pines/Divide Ranch
County:
Ouray
Area:
Log Hill
Elementary School:
Ridgway K-5
Middle School:
Ridgway 6-8
High School:
Ridgway 9-12
Property Description
Introducing "The Keep", Ridgway CO (Telluride) Simply put, there is nothing else like it in the Telluride/Ouray region. Zoned Commercial Multi-Use or Mixed Use or 100% Residential, this substantial 14,500+foot structure is ready for your vision! Just 38 miles to Telluride, as you pass Ralph Lauren's Ranch or 14 minutes to the local Hot Springs resort. The lot is 3.2+ acres with future building potential (country store or garages etc ) The lot borders open space to the North and the Golf Course abuts it to the East. This stellar location includes a breathtaking backdrop of the jagged Cimmarrons and San Juans and the 14,000 ft Mt Sneffels. The lot also borders/ abuts the Divide Ranch & Clubs Award-winning 18 hole Golf Course (3rd-4th Hole). This parcel was the original corporate residences of the developer and golf clubhouse built in 1983,(formally Fairway Pines), and has been resurrected with many recent improvements: a fitness center /Gym /ADU-rental unit /residence / new flooring / turf /decking/ Bar / flooring / entertainment area and stage /indoor basketball, 2 tennis courts / putt putt / 2 climbing walls and batting cages and golf driving. The extensive improvements include, but not limited to ADA compliance modification in 2012, new roof 2012 , newly engineered septic and conversion to natural gas. The possibilities for highest and best use include but are not limited to...Brewery/Restaurant/Distillery/Medical Marijuana MMJ/, Country Store, General, Office, Lodging, Professional/Medical, basically you can name it! A wedding planner and events/retreat /music live work play layout seems very easy! The prior sprawling indoor salt water pool (2,400 feet) can easily be brought back into compliance, currently its set up as a music venue/sunken entertainment area. This is truly an incredible lifestyle and live work opportunity ,for the wise visionary as there is not another live work play structure for 20 miles in the county/ town or region. Currently vacant Income projected : 2k a month for the ADU = $24,000 Main residence =3k month =$36,000 Summary $60,000 @ 4% cap rate = $1,200,000 This does NOT include any income from the gym or venue or grounds for weddings etc, this is "long term" rental income, the short term or airbnb would be dramatically higher. ( Camp/ Retreat / Church / Housing / non profit /Multifamily / JV -VC / Tech start up all allowed)
Exterior Features

Carport No Garage No Property Attached No Water Well No Waterfront YN No

Interior Features

Main Sq Ft 13951 One Quarter Baths 0 Total Office Dens 0 Unit1 Baths 1 Unit1 Bedrooms 3 Unit1 Square Feet 2600 Unit2 Baths 6 Unit2 Bedrooms 10 Unit2 Square Feet 12000 Upper Sq Ft 577

Property Features

Covenants Yes Green Certification No Hoa Yes Hoa Name Divide Horse Setup No Multi Story Yes New Construction YN No Reo Lender Owned No Tax Year 2018 Total Electric Meters 1 Total Gas Meters 1 Total Taxes 4550 Total Water Meters 1 Type Triplex Unit1 Monthly Rent 2000 Unit2 Monthly Rent 10000 Water Rights No

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Berkshire Hathaway HomeServices Western Colorado Properties contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-10-22T23:56:23.41.
 
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Berkshire Hathaway HomeServices Western Colorado Properties
842 Main Ave
Durango CO, 81301
Listing courtesy of Telluride Realty, Llc.