117 ponderosa
117 ponderosa Ridgway, Colorado 81432 United States

$1,125,750
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Introducing "The Keep", Ridgway CO (Telluride) Simply put, there is nothing else like it in the Telluride/Ouray region. Zoned Commercial Multi-Use or Mixed Use or 100% Residential, this substantial 14,500+foot structure is ready for your vision!...

Listing Courtesy of Telluride Realty, LLC

Listing Courtesy of Telluride Realty, LLC
$1,125,750
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4
Full Baths
2
Partial Baths
14,528 Sq Ft.
Interior
3.38 Acres
Exterior
Multi-Family Homes
Property type
1985
Year Built
777406
Web Id
777406
MLS ID
Fairway Pines/Divide Ranch
Subdivision
289
days ago

About 117 ponderosa

Introducing "The Keep", Ridgway CO (Telluride) Simply put, there is nothing else like it in the Telluride/Ouray region. Zoned Commercial Multi-Use or Mixed Use or 100% Residential, this substantial 14,500+foot structure is ready for your vision! Just 38 miles to Telluride, as you pass Ralph Lauren's Ranch or 14 minutes to the local Hot Springs resort. The lot is 3.2+ acres with future building potential (country store or garages etc ) The lot borders open space to the North and the Golf Course abuts it to the East. This stellar location includes a breathtaking backdrop of the jagged Cimmarrons and San Juans and the 14,000 ft Mt Sneffels. The lot also borders/ abuts the Divide Ranch & Clubs Award-winning 18 hole Golf Course (3rd-4th Hole). This parcel was the original corporate residences of the developer and golf clubhouse built in 1983,(formally Fairway Pines), and has been resurrected with many recent improvements: a fitness center /Gym /ADU-rental unit /residence / new flooring / turf /decking/ Bar / flooring / entertainment area and stage /indoor basketball, 2 tennis courts / putt putt / 2 climbing walls and batting cages and golf driving. The extensive improvements include, but not limited to ADA compliance modification in 2012, new roof 2012 , newly engineered septic and conversion to natural gas. The possibilities for highest and best use include but are not limited to...Brewery/Restaurant/Distillery/Medical Marijuana MMJ/, Country Store, General, Office, Lodging, Professional/Medical, basically you can name it! A wedding planner and events/retreat /music live work play layout seems very easy! The prior sprawling indoor salt water pool (2,400 feet) can easily be brought back into compliance, currently its set up as a music venue/sunken entertainment area. This is truly an incredible lifestyle and live work opportunity ,for the wise visionary as there is not another live work play structure for 20 miles in the county/ town or region. Currently vacant Income projected : 2k a month for the ADU = $24,000 Main residence =3k month =$36,000 Summary $60,000 @ 4% cap rate = $1,200,000 This does NOT include any income from the gym or venue or grounds for weddings etc, this is "long term" rental income, the short term or airbnb would be dramatically higher. ( Camp/ Retreat / Church / Housing / non profit /Multifamily / JV -VC / Tech start up all allowed)

Listing Courtesy of Telluride Realty, LLC, CREN MLS

PROPERTY INFORMATION

Waterfront
No

ADDITIONAL INFORMATION

Number of Units
2
Listing Courtesy of Telluride Realty, LLC

Listing Courtesy of Telluride Realty, LLC

Listing Courtesy of Telluride Realty, LLC

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