165 Midland Avenue

Description

A rare opportunity to acquire one of Basalt's most iconic and historically significant properties- the Colorado Midland Hotel, built in 1896 and recognized as a designated historic structure. Currently home to the renowned Tempranillo Restaurant, this landmark building is ideally situated in the heart of downtown Basalt, steps from local boutiques, fine dining, and the Roaring Fork River. Property Highlights • Prime Downtown Location on Midland Avenue - Central lot on Basalt's main street corridor, surrounded by active retail, dining, and cultural amenities. • Mixed-Use Potential - Existing configuration includes first-floor restaurant and upper-level residential. • Zoning: C-2 Downtown Business District - Encourages a dynamic blend of commercial and residential uses within a pedestrian-friendly setting. • Historic Charm, Modern Upgrades - Carefully remodeled in 2006 while preserving its original architectural details. • Transferable Income - Existing leases for both commercial and residential units provide immediate cash flow. With approximately 0.322 acres and an existing ±5,364 sq. ft. of floor area, the site allows for significant redevelopment potential under Basalt's C-2 zoning. The property is offered without entitlements, and all interested parties are encouraged to conduct independent due diligence with the Town of Basalt. Refer to MLS 182521 for more information on the Commercial Mixed Use Development Opportunity.