257 Sherman Street

Ridgway, CO 81432

$2,495,000
Price
Beds
5
1/2 Baths
9,100 Sq. Ft.
$274 / Sq. Ft.
9,100
Sq. Ft.
$274
per Sq. Ft.

Description

Seeking an investment opportunity in Southwest Colorado? This splendid Rio Grande Building is strategically positioned at the convergence of CO HWY 550 and CO HWY 62, nestled alongside the picturesque Uncompahgre River and adjacent to Rollin Park in downtown Ridgway. The property's current positive cash flow presents an attractive option for investors anticipating future appreciation. Notably, residential real estate in Ridgway experienced a staggering 70% appreciation within two years, while commercial...Seeking an investment opportunity in Southwest Colorado? This splendid Rio Grande Building is strategically positioned at the convergence of CO HWY 550 and CO HWY 62, nestled alongside the picturesque Uncompahgre River and adjacent to Rollin Park in downtown Ridgway. The property's current positive cash flow presents an attractive option for investors anticipating future appreciation. Notably, residential real estate in Ridgway experienced a staggering 70% appreciation within two years, while commercial real estate appreciated a fraction of that. Currently leased to four thriving businesses, this property offers versatility for the future. With over 28 parking spaces and potential expansion, the current zoning permits various uses, including office, retail, and dining establishments. Crafted with superior construction and premium materials such as copper gutters and windows, the architecture pays homage to Ridgway's rich history of mining, ranching and railroad heritage. Ridgway, CO, is nestled amidst some of the world's most iconic mountain peaks, including several 14'ers.
  1. Listed by Karen McCarthy • Coldwell Banker Distinctive Properties

Property Details for 257 Sherman Street

Water Front
Yes
Zoning
Commercial
Waterfront
River/Stream

Location

Listing Courtesy of Coldwell Banker Distinctive Properties, Karen McCarthy
Add your commute
LISTING UPDATED: 04/02/2024 10:21 AM

Property Details for 257 Sherman Street

StatusActive
MLS #811560
Days on Market51
Taxes$44,982 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial / Multi-Use
Year Built2006
Lot Size0.51 AC / 22,215 SF
CountyOuray County

Location

Listing Courtesy of Coldwell Banker Distinctive Properties, Karen McCarthy
Add your commute

Building Information for 257 Sherman Street

Stories-Residences5Year Built2006Lot Size0.51 AC / 22,215 SF

Payment Calculator

$17,365 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,616

Property Taxes

$3,749

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 257 Sherman Street

Summary
Location and General Information
  • Directions: At the convergence of CO HWY 550 and CO HWY 62, turn west on Sherman Street / CO HWY 62. Travel .2 miles. The Rio Grand Building is on the left.
Owner
  • Owner Name: Exodus / Hawk
Parking
  • Carport Y/N: No
  • PARKING: 20 + Total Spaces
Taxes and HOA Information
  • Tax Account ID: R005184
  • Tax Year: 2024
  • Total Taxes $: 44982.24
Property
Property and Assessments
  • FIPS Code: 08091
  • Legal/Lot Block: COLBY MINOR SUBDIVISION Lot: 2 S: 16 T: 45 R: 8
  • Photo Count: 28
  • New Construction Y/N: No
  • Covenants Y/N: NO
Lot Information
  • Special Assemnt Y/N: No
  • Water Rights/Irrigation: No
  • Current Property Use: Mixed Use
  • Possible Property Use: Mixed-Use
  • Lot Dimension: .51 Acre
  • Parcel ID #: 4.30516322002E11
Utilities
  • Internet Service Y/N: Yes
  • Internet Provider: Century Link
  • Water Well: No
Multi Family
Multi-Family Information
  • # of Units: 5
Interior and Exterior Features
Room Information
  • 1/2 Baths: 5
  • 3/4 Baths: 0
  • 1/4 Baths: 0
  • Total Baths: 5.00
Interior Features
  • Furnished: Unfurnished
  • Foundation: Basement-Unfinished
  • Heating Fuel/Source: Natural Gas
  • Cooling: Central A/C, Forced Air
  • Heating System: Forced Air
Exterior Features
  • Roof: Composition
Rental
Rental Information
  • CAM Y/N: No

Property History for 257 Sherman Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 257 Sherman Street

Taxable ValueLand$141,680Additions$568,480Total$710,160
Tax Record2023$44,982 ($3,749 / month)
Home Facts
Total Finished SqFt3,136 SqFtAbove Grade Finished SqFt3,136 SqFtLot Size22,346 SqFtStyleStoresYear Built2006CountyOURAYAPN430516322002

Schools near 257 Sherman Street

This home is within Ridgway R-2 School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Ridgway Elementary School
PublicPK to 5

Ridgway Middle School
Public6 to 8

Ridgway High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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257 Sherman Street is a mixed use property for sale in Ridgway, CO 81432. This property was listed for sale on March 13, 2024 by Coldwell Banker Distinctive Properties, it's currently listed at $2,495,000. It has been on the market for a total of 51 days and was last sold on June 12, 2015. This listing's school district is Ridgway R-2 School District. Nearby schools include Ridgway Elementary School, Ridgway Middle School and Ridgway High School. 257 Sherman Street is a 0-bed, 2.5-bath, 9,100 sqft mixed use property built in 2006.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Coldwell Banker Distinctive Properties, Karen McCarthy

Based on information from one of the following Multiple Listing Services: CRENMLS, Telluride Association of REALTORS, Grand Junction Area REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRENMLS, Telluride Association of REALTORS, Grand Junction Area REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.