Address
123 N Lena Street Ridgway, CO
Price
$ 1,600,000
Property Attributes
  • MLS#777639
  • TypeCommercial
  • CountyOURAY
  • CityRidgway
  • AreaRidgway
  • Zip81432
  • StyleRestaurant
  • Year Built1986
  • Taxes5560
  • Price$ 1,600,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage2808
  • Lot Size4,356 SqFt
Listing Provided Courtesy Of:
Ponderosa Real Estate The Source For Real Estate
Data Source:
Colorado Real Estate Network
Property Description

The historic True Grit Café is a turnkey opportunity you can make your own! Located in the heart of Ridgway on the Goldbelt of Hartwell Park. This location is high traffic and well known by locals and tourists alike. True Grit was started in 1986 and has been an iconic restaurant in Southwestern Colorado ever since then. The café pays tribute to the “old west” with art and décor and in fact has been the center of the Old West Fest which has been held every autumn in Ridgway for several years (excluding 2020). This thriving business has a 7% cap rate and there is room for increase. Even with the covid pandemic, the loyal customer base has kept the restaurant profitable and the revised business model has even increased numbers and with less expense. True Grit offers not only dine in and take out but also a $250,000/year catering service. In addition to the restaurant, there is room to increase profits/income by expanding on site to add employee housing – a definite need in the Ridgway area. Purchase price not only includes all inventory, stellar reputation and management systems in place but also a transition/training period to help the proud new owner take over and proceed with ease. The real estate building has been recently appraised which validates pricing. If you are ready to live in one of the most beautiful places in Colorado and escape the rat race of the city, this is your opportunity to enjoy life while continuing a long tradition of excellence and history. Are you ready to see your dreams of living and working in Ridgway come true? See this today!

Price History
1/7/2021 Listed $1,600,000

General Features

Available Utilities Electric, Fiber Optics, Internet, Natural Gas, Phone, Sanitary Sewer, Water
Class COMMERCIAL
Cooling Forced Air
Flooring Tile, Wood
Heating Forced Air
New Construction Y/N No
Parking On Street
Sewer Public Sewer Installed
Status Active
Status Active
Stories 2
Subdivision None
Type Restaurant
Utilities Electric, Internet, Natural Gas, Phone, Sanitary Sewer, Water
Zoning Historical Business

Interior Features

1/2 Baths 2
Air Conditioning No
Finished SF 2808
Fixtures Included Yes
Heating Forced Air
Total Rooms 1

Exterior Features

Carport No
Construction Frame
Domestic Water Public
Foundation Basement-Partial Finish
Lot Dimensions 4285 sq ft
Lot Size Area 0.1
Railroad Siding/spur No
Water Rights/irrig. No
Waterfront No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 81432

Price
AVG $1.13M
$1.6M
Taxes
AVG $6,686
$5,560
Visits
AVG 16
15
Year Built
AVG 1987
1986
Walkscore
AVG 46
58
Data Provided by Walkscore ® not using MLS data

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