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 BEGINNINGCLICK THE VIDEO AND 3D MATTERPORT LINKS TO TOUR BOTH SPACES FROM ANYWHERE!
Details
| MLS # | 20263798 |
|---|---|
| Listing Type | For Sale |
| Style | Building |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 22 |
| Listing Provided By | REED REAL ESTATE GROUP, LLC | THE JOE REED TEAM |
Features
| Zoning | Commercial |
|---|
Taxes
| Tax Annual Amount | 1258 |
|---|
Area Information
| State | CO |
|---|---|
| City | Rangely |
| Zip Code | 81648 |
| Area | Rangely |
| Listing VS Median (in 81648) | |
Price: $140,729 low | high Med: $315,000 On site: 22 low | high Med: 152 | |
Market Activity 81648
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Learn More About This Property
| State | CO |
|---|---|
| City | Rangely |
| Zip Code | 81648 |
| Area | Rangely |
| Listing VS Median (in 81648) | |
Price: $140,729 low | high Med: $315,000 On site: 22 low | high Med: 152 | |