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    123 N Lena Street

    Ridgway, CO 81432
    • $1,600,000
    • STATUS: Active
    • ON SITE: 105 days
    • MLS #: 777639
    UPDATED: 122 min ago
    $1,600,000
    • 0
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 2
      1/2 BATHS
    • 2,808
      SQFT
    • $570
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1986
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Ponderosa Real Estate The Source For Real Estate.


    Description

    The historic True Grit Caf 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 caf pays tribute to the "old west with art and dcor 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!

    Monthly Payment Calculator

    The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
    FULL CREN Disclaimer

    Real Estate listings held by companies other than The Dawn Howe Group | Keller Williams Realty contain that company’s name.
    Fair Housing Disclaimer

    This data was last updated: 2021-04-22T23:56:26.81.
    www.crestedbutteliving.com/homes/113073795
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    123 N Lena Street Ridgway, CO 81432

    • Price: $1,600,000
    • Status: Active
    • Updated: 122 min ago
    • MLS #: 777639
    0
    Beds
    0
    Baths
    2
    ½ Baths
    0.1
    Acres
    2,808
    SQFT
    $570
    $/SQFT
    1986
    Built
    Neighborhood:
    None
    County:
    Ouray
    Area:
    Ridgway
    Property Description
    The historic True Grit Caf 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 caf pays tribute to the "old west with art and dcor 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!
    Exterior Features

    Acreage Range Less Than 1/2 Carport No Construction Frame Lot Dimension 4285 Sq Ft Parking On Street Property Attached Yes Sewer Public Sewer Installed Stories 2 Street Description City/TownPaved Water Public Water Well No Waterfront YN No

    Interior Features

    Cooling No Cooling Type Forced Air Finished Sq Ft 2808 Flooring TileWood Foundation Basement-Partial Finish Furn Fixt Equip Yes Heating Fuel Source Natural Gas Heating System Forced Air Heating System1 Forced Air Lower Sq Ft 0 Main Sq Ft 1767 One Quarter Baths 0 Total Offices 1 Upper Sq Ft 1041

    Property Features

    Available Utilities ElectricFiber OpticsInternetNatural GasPhoneSanitary SewerWater Books Available Yes Cam No Cap Rate Percent 7 Covenants Yes Current Business Resturant Current Use RestaurantBar Desc Of Business Resturant Documents On File LeasesLegal DescriptionProfit/Loss Enterprise Zone No Exchange Trade No Existing Utilities ElectricInternetNatural GasPhoneSanitary SewerWater Fixtures Included Yes Inventory Included Yes Lease Included Yes Monthly Cam Charges -0- Monthly Insurance Charges -0- New Construction YN No Owners Association No Possible Property Use Bar/LoungeMixed-UseRestaurantRetail Storefront Railroad Siding Spur No Real Estate For Sale Yes Reo Lender Owned No Tax Year 2020 Total Electric Meters 1 Total Gas Meters 1 Total Taxes 5560.08 Total Water Meters 1 Type Restaurant Type Of Sale Asset Variable Rate Yes Water Rights No Year Started 1986 Zoning Type Commercial

    The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
    FULL CREN Disclaimer

    Real Estate listings held by companies other than The Dawn Howe Group | Keller Williams Realty contain that company’s name.
    Fair Housing Disclaimer

    This data was last updated: 2021-04-22T23:56:26.81.
     
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    The Dawn Howe Group | Keller Williams Realty
    PO Box 2142
    Crested Butte CO, 81224
    Listing courtesy of Ponderosa Real Estate The Source For Real Estate.