Are you planning on investing in a commercial property in Telluride, CO soon? Here are a couple of things to note about the local commercial real estate market.
What’s available in the market?
If you are thinking of starting a new business or expanding your local empire, Telluride commercial real estate has a couple of properties in store for you.
- Retail spaces: The past couple of months have seen several retail spaces enter the market. Property sizes range from 800 to over 2,000 square feet. Some of these retail spots can also function as office spaces, or both at the same, depending on your business needs.
- Hospitality: A rare opportunity has appeared if you are interested in delving into Telluride’s tourism and hospitality industry. The historic Sheridan Saloon Building on Main Street is currently up for sale for $3,500,000. It offers 2,952 square feet of space, floor-to-ceiling glass in the storefront, two entrances, and a set-up ready for Telluride’s new top restaurant.This property is even more appealing for three reasons. First, its location is one of Telluride’s most heavily trafficked areas. Second, it comes with the prestige of being one of the town’s oldest buildings. Finally, the Sheridan Saloon Building also has the potential to be expanded into a multi-unit condo.
- Investment properties: Dreaming of owning and running your own bed-and-breakfast in America’s coolest ski town? Here’s your chance. The Dahl Haus, another one of Telluride’s historic properties, is up for sale for $2,700,000. It can be a small three-room B&B, a rental property, or even your second home in Telluride.
What’s going on in Telluride?
There are a couple of significant developments on the way in Telluride.
- Potential new land for hospital. The Telluride Hospital District, which runs the Telluride Regional Medical Center, announced last May that they signed a Memorandum of Understanding) with Genesee Properties for the potential hand over of a 2.6-acre piece of land to accommodate the new medical facility.
- A new hotel in Telluride. Telluride Ajax Investment Partners’ purchase of the 10-parcel lot in the corner of Willow Street and East Colorado Avenue didn’t fall through. Instead, the property was sold to Town Park Partners LLC for $12.75 million. The new 50-room hotel will be developed by Blue Sage Ventures. The hotel idea has initially been opposed by a majority of local developers who wanted to raise condo developments in the lot instead.There is no news yet on how the hotel would look. It was, however, promised that it would be different. People also expect the new hotel to attract more people to that part of Downtown Telluride.
Invest in a commercial property in Telluride, CO
Find out why real estate investors and business owners are clamoring to own a piece of Telluride, CO commercial real estate. Explore your options in Telluride, CO real estate with the best Realtor in the area. For over 29 years, Jim Lucarelli has provided the best real estate service in town. Get in touch with us today by calling 970.728.0213, or send an email to jim(dotted)lucarelli(at)compass(dotted)com.