609 Clinton StRidgway, CO 81432

Property Details for 609 Clinton St

Year built

1990

Construction

WOOD

Lot size

0.24 AC

Property size (Sq ft)

2,968 SF

Property type

Office properties

Property subtype

Office buildings

APN

430516209004

APU

430516209004

Description

This exceptional 9,580 square foot retail property, situated on a 0.18-acre lot at 609 CLINTON Street in the heart of downtown Ridgway, Colorado, presents a unique investment opportunity. Currently fully leased, the building generates strong rental income from a mix of commercial spaces on the main level and Airbnb rooms on the second floor. Known locally as the "Centennial Building," this iconic structure benefits from its central location in a thriving town experiencing significant growth. Ridgway's strategic position as a gateway to Telluride, Ouray, and Montrose attracts a steady stream of tourists and outdoor enthusiasts. The area boasts abundant recreational opportunities, including nearby hot springs, mountain biking trails, live music venues, and the popular Ridgway State Park, a stunning mountain lake setting just 15 minutes away. The high volume of traffic on Highway 550, including the start of the renowned Million Dollar Highway, ensures significant visibility and accessibility. Furthermore, the property offers potential for expansion

• CAP approach

  CAP return

  Valuation

  6%

  $545,446

  6.5%

  $503,488

  7%

  $467,525

• Comparable approach

  Method

  Valuation

  Relative Method

  $604,005

  Geo Method

  $245,216

• Alternative Use

  Use

  Valuation

  Residential

  $624,325

  Hospitality

  $571,879

  Educational

  $475,796

  Medical

  $492,160

  Retail

  $740,128

Location Insight

City

Ridgway

County

Ouray

State

Colorado

Latitude

38.1527

Longitude

-107.758

CBSA code

33940

CBSA name

MONTROSE, CO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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