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    400 Palomino Trail

    Ridgway, CO 81432
    • $1,150,000
    • STATUS: Active
    • ON SITE: 151 Days
    • MLS #: 782541
    $1,150,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    • 1,952
      SQFT
    • $589
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    2006
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Ridgway Real Estate.


    Description

    Turnkey, well established and popular vacation rental business in a custom built (2007), carbon emission free, two-story building situated on a frontage road paralleling U.S. Highway 550 in an edge-of-town General Commercial zone where mixed uses and live-work arrangements are encouraged. The business, known as Cow Creek Suites, offers two fully and beautifully furnished apartments: a ground-floor open concept studio and a second-floor, one-bedroom, one-bath with full kitchen, laundry and office/guest bedroom. It is nicely irrigated with water provided through the HOA. A contained storage room and mechanical room are each accessed with their own exterior entrances. The ground floor unit is easily converted back to commercial, office or retail space as a use by right. According to reporting by listing service VRBO (subsidiary of Expedia, Inc.) on their booking platform these rentals have consistently outperformed 95% of their market during the past several years (a market including the towns of Telluride and Ouray comprised of over 1500 listed lodging properties). The occupancy rate for the five-year period ending December 31, 2020, was 64% including many long-time repeat guests. Confirmed reservations for 2021 are already at 65% occupancy. Furnishings included. Buried optical fiber is on the property with residential and commercial symmetrical service plans available up to 1000 Mbps download and 1000Mbps upload. Building is extremely energy efficient with central heating and air conditioning provided by an air-source all-climate heat pump (no fossil fuels burned on premises). Be sure and see listings on the VRBO website (property #s 130480 and 597318) for additional information including photos, guest reviews and availability calendar. Short term rental licenses are required by the Town of Ridgway and capped at 50. Transfers are not allowed however about half the available licenses are currently available. Property is situated on a frontage road paralleling US Highway 550 near its intersection with Colorado Highway 62, the northern entry to Colorado's famous San Juan Skyway Scenic Byway, considered by many the most scenic part of Colorado's Scenic and Historic Byway System. Property is just 9 highway miles north of the charming, historic mining town of Ouray, 37 highway miles from the ski-resort/festival town of Telluride (airport code TEX), and 26 highway miles south of the burgeoning retirement community of Montrose (airport code MTJ). Montrose Memorial Hospital is the #1 Small Hospital in Colorado (receiving an overall grade of A+ by the Lown Institute) and is the only Colorado hospital to place for the sixth consecutive year in the Top 100 Rural & Community Hospitals in the United States.

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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: 2021-10-26T23:56:21.717.
    www.homesforsaledurango.com/homes/117703742
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    400 Palomino Trail Ridgway, CO 81432

    • Price: $1,150,000
    • Status: Active
    • MLS #: 782541
    0
    Beds
    2
    Baths
    0
    ½ Baths
    0.22
    Acres
    1,952
    SQFT
    $589
    $/SQFT
    2006
    Built
    Neighborhood:
    Other
    County:
    Ouray
    Area:
    Ridgway
    Property Description
    Turnkey, well established and popular vacation rental business in a custom built (2007), carbon emission free, two-story building situated on a frontage road paralleling U.S. Highway 550 in an edge-of-town General Commercial zone where mixed uses and live-work arrangements are encouraged. The business, known as Cow Creek Suites, offers two fully and beautifully furnished apartments: a ground-floor open concept studio and a second-floor, one-bedroom, one-bath with full kitchen, laundry and office/guest bedroom. It is nicely irrigated with water provided through the HOA. A contained storage room and mechanical room are each accessed with their own exterior entrances. The ground floor unit is easily converted back to commercial, office or retail space as a use by right. According to reporting by listing service VRBO (subsidiary of Expedia, Inc.) on their booking platform these rentals have consistently outperformed 95% of their market during the past several years (a market including the towns of Telluride and Ouray comprised of over 1500 listed lodging properties). The occupancy rate for the five-year period ending December 31, 2020, was 64% including many long-time repeat guests. Confirmed reservations for 2021 are already at 65% occupancy. Furnishings included. Buried optical fiber is on the property with residential and commercial symmetrical service plans available up to 1000 Mbps download and 1000Mbps upload. Building is extremely energy efficient with central heating and air conditioning provided by an air-source all-climate heat pump (no fossil fuels burned on premises). Be sure and see listings on the VRBO website (property #s 130480 and 597318) for additional information including photos, guest reviews and availability calendar. Short term rental licenses are required by the Town of Ridgway and capped at 50. Transfers are not allowed however about half the available licenses are currently available. Property is situated on a frontage road paralleling US Highway 550 near its intersection with Colorado Highway 62, the northern entry to Colorado's famous San Juan Skyway Scenic Byway, considered by many the most scenic part of Colorado's Scenic and Historic Byway System. Property is just 9 highway miles north of the charming, historic mining town of Ouray, 37 highway miles from the ski-resort/festival town of Telluride (airport code TEX), and 26 highway miles south of the burgeoning retirement community of Montrose (airport code MTJ). Montrose Memorial Hospital is the #1 Small Hospital in Colorado (receiving an overall grade of A+ by the Lown Institute) and is the only Colorado hospital to place for the sixth consecutive year in the Top 100 Rural & Community Hospitals in the United States.
    Exterior Features

    Acreage Range Less Than 1/2 Approx Irrig Acres 0.22 Carport Yes Carport Spaces 1 Lot Dimension Rectanglual Parking 2-10 Total Spaces Property Attached No Roof Metal Sewer Public Sewer InstalledSewer Tap Paid Stories 2 Street Description City/TownPaved Water PublicTap Installed Paid Water Well No Waterfront YN No

    Interior Features

    Cooling Type Central A/CForced Air Finished Sq Ft 1952 Flooring Laminate Foundation Slab Heating System Forced AirHeat Pump Main Sq Ft 992 One Quarter Baths 0 Total Offices 0 Upper Sq Ft 960

    Property Features

    Books Available No Cam No Covenants Yes Current Use Lodging Disclosures Covenants Documents On File CovenantsLegal Description Exchange Trade No Existing Utilities ElectricSanitary SewerWater Fixtures Included Yes Inventory Included No Landlord Pays Building InsuranceElectricInterior MaintenanceOa DuesReal Estate TaxesSewer/WaterSnow RemovalTrash Lease Included Yes New Construction YN No Oa Fees 109.40 Oa Fees Frequency Annually Oa Name Eastside Owners Association Yes Possible Property Use Bar/LoungeGeneral OfficeLodgingMixed-UseProfessional/MedicalRetail StorefrontShowroom Railroad Siding Spur No Real Estate For Sale Yes Reo Lender Owned No Tax Year 2020 Total Taxes 2400 Total Water Meters 1 Type Multi-Use W/Res Variable Rate No Water Rights Yes Zoning Type CommercialMixed Use

    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: 2021-10-26T23:56:21.717.
     
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    Berkshire Hathaway HomeServices Western Colorado Properties
    842 Main Ave
    Durango CO, 81301
    Listing courtesy of Ridgway Real Estate.