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$ 140,729
Est. payment | /mo
$ 140,729
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Building
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20263798
Annual Tax Amount $1,258
Lot Dimensions 120 x 76 x 120 x 76
Property Sub-Type Building
Property Description
One address, two income streams and a highly visible Main Street location come together at 729 West 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 West Main Street. THE PHOTOS ARE ONLY THE BEGINNING—CLICK THE VIDEO AND 3D MATTERPORT LINKS TO TOUR BOTH SPACES FROM ANYWHERE!
Location
State CO
Area Rangely
Direction 729 E Main Street is located on State Highway 64 (which runs straight through town as Main Street), situated on the south side of E Main Street between S Stanolind Ave and S Crest St
Others
Virtual Tour https://my.matterport.com/show/?m=iBQ8syssp79
Listed by REED REAL ESTATE GROUP, LLC
Nearby Locations
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