631 Sherman Street
$1,025,000
—
2
2,315
2,315
$443
Description
Investors, multi-family developers, and artists—this is your chance to own a versatile property in the heart of Ridgway, Colorado! Located in the Historic Business Zone, this property offers some of the most flexible zoning regulations in Western Colorado. Don't be misled by the term "Historic"—there are no architectural restrictions or requirements to preserve old structures. Instead, this zone provides expansive opportunities for mixed-use development, including commercial, residential, multi-family...Investors, multi-family developers, and artists—this is your chance to own a versatile property in the heart of Ridgway, Colorado! Located in the Historic Business Zone, this property offers some of the most flexible zoning regulations in Western Colorado. Don't be misled by the term "Historic"—there are no architectural restrictions or requirements to preserve old structures. Instead, this zone provides expansive opportunities for mixed-use development, including commercial, residential, multi-family housing, retail, restaurants, and more. Key Features: Mixed-use zoning: Build residential units, art studios, galleries, restaurants, retail spaces, or professional offices all under one roof. 2315 sq. ft. single-level building: Currently divided into two separate spaces—a fabric arts gallery and workshop on the west end and an office supply store on the east end. 35-foot maximum building height: Ideal for expanding upward—imagine adding additional floors for stunning mountain views and increased revenue potential. Minimal setbacks: Take full advantage of the lot’s footprint to maximize building space. Ample parking: Located on the north side of the lot, providing convenience for tenants, customers, or gallery visitors. This property, built in 1993, offers the chance to completely reimagine the space. Whether you’re looking to create multi-family units, a thriving art gallery, or a combination of residential and commercial spaces, this property is ready for your vision. With high visibility and foot traffic in Ridgway's core, it's perfect for retail or dining establishments that cater to locals and tourists alike. For investors, the opportunity to expand is significant—an additional building lot on the west side (available separately) provides the possibility for more structures and parking, allowing you to scale your investment. The creative potential for this property is limitless, from artisan studios to boutique hotels, or a mix of residential lofts and commercial spaces. Unlock the potential of Ridgway’s most desirable location. This Ouray County gem is a blank canvas for your next profitable venture. Don’t miss out on this unique opportunity in this fast-growing Colorado mountain town.
- Listed by Todd Schroedel • United Country Sneffels Realty
Property Details for 631 Sherman Street
Water Front
No
ZoningMixed Use
LISTING UPDATED: 10/26/2024 01:38 AM
Property Details for 631 Sherman Street
Status | Active |
---|---|
MLS # | 818966 |
Days on Market | 31 |
Taxes | $8,511 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Mixed Use |
MLS Type | Commercial / Multi-Use |
Year Built | 1993 |
Lot Size | 0.16 AC / 6,969 SF |
County | Ouray County |
Building Information for 631 Sherman Street
Stories-Residences2Year Built1993Lot Size0.16 AC / 6,969 SF
Property Information for 631 Sherman Street
Property History for 631 Sherman Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 631 Sherman Street
Taxable ValueLand$49,910Additions$84,450Total$134,360
Tax Record2023$8,510 ($709 / month)
Home Facts
Total Finished SqFt3,772 SqFtAbove Grade Finished SqFt3,772 SqFtLot Size7,144 SqFtStyleStoresYear Built1993CountyOURAYAPN430516302001
Schools near 631 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.
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