119 Colorado AveTelluride, CO 81435

This exceptional 2,858 square foot commercial property, situated on a 0.07-acre lot at 119 W Colorado Avenue in the heart of Telluride, CO, presents a unique opportunity for retailers, developers, or penthouse end-users. The building enjoys a highly desirable location on the 100 block of Colorado Avenue, benefiting from significant pedestrian traffic. A key advantage is the positive reception received from the Historic Architectural Review Commission (HARC) regarding a schematic proposal for condominium land subdivision of a rear lot. While not yet approved, this positive consensus significantly streamlines the path for future development. The property's existing structure is non-historic. The future owner will be responsible for submitting more detailed architectural plans for a proposed building on the vacant rear lot, followed by HARC approval and a replat of the underlying lot. This presents a chance to create a new structure while leveraging the existing building's prime location. The asking price for this remarkable investment opportunity is $5,200,000. The property's central location and the promising development potential make it an attractive proposition for discerning investors seeking a foothold in Telluride's vibrant commercial landscape. This is a rare chance to acquire a property with significant upside in a highly sought-after location.