Address
123 N Lena Street Ridgway, CO
Price
$ 1,550,000
Property Attributes
  • MLS#39071
  • TypeCommercial
  • CountyOURAY
  • CityRidgway
  • AreaRidgway - 71
  • Zip81432
  • StyleCommercial Spaces
  • Year Built1986
  • Taxes$ 5560
  • Price$ 1,550,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size4,356 SqFt
Listing Provided Courtesy Of:
Ponderosa Real Estate The Source for Real Estate
Data Source:
Telluride MLS (TRIDEMLS)
Property Description

The historic True Grit Cafe 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 cafe pays tribute to the ''old west'' with art and decor 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

Price History
1/8/2021 Listed $1,600,000
5/12/2021 4% - $1,550,000

General Features

# Of Tenants 1
Appliances Commercial Kitchen
Area Ridgway - 71 (Major Area 70)
City Ridgway
County Ouray County
Directions Take Sherman Street (Hwy 62) to Lena Street and turn north to property.
Disclosures None
Electric Power Company
Gas Y/N Natural
Half Baths 2
Heating Forced Air, Gas
Listingmembername Kari Girard
Listingofficephone (970) 626-9700
Major Area 70
Parking On Street
Possession Closing
Property Type E
REO No
Short Sale No
Status Active
Street Name Lena
Subdivision None
Tax Year 2020
Taxes 5560.08
Terms Cash, CTNL
Type Commercial Spaces
Water City
Year Built 1986
Zoning Commercial

Interior Features

Extra Rooms Office
Level Street Level
Street Suffix Street
Total Rooms 1

Exterior Features

Mls Identifier 20080911124808778632000000
Substructure Other

Amenities

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

Property vs Commercial Average in 81432

Price
AVG $1.15M
$1.55M
Taxes
AVG $5,774
$5,560
Visits
AVG 20
17
Year Built
AVG 1989
1986
Walkscore
AVG 46
57
Data Provided by Walkscore ® not using MLS data

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