$3,500,000
2.9± Acres
Active
La Plata County, CO

49617 Highway 550, Durango, Colorado

MLS ID: 791707
Status: Active
Price: $3,500,000
Acres: 2.9±
Type: Development, Commercial
Address: 49617 Highway 550
City, State: Durango, CO
County: La Plata County
ZIP Code: 81301
Parcel Number: 508924313027
Listed by: Jaime Marquez of Coldwell Banker Distinctive Properties
Bathrooms: 4
SqFt: 8,762
Year Built: 1969

Description

Rare opportunity to redevelop mixed-use at the entrance to Purgatory Ski Resort and in the process own an 8,700+ square feet piece of local history. Originally built in 1969 as the Purgatory Inn (see photos), this single level property could tell so many stories! Over the decades it was widely known as several dining establishments including: the Elk Run Lodge, Alpenhauf Tatzer, Buckskin Charlie's, Sweeney's Sows Ear, Powder Monkey, Hamilton Chop House and then the Last Run Grill-Pub-Cafe. Good times! Now there is an opportunity to dreevelop 3 acres of designated mixed-use land to provide much needed real estate at this Resort. In 2018, the Seller completed a $200,000 remodel to convert about half of the single level building into a modern spacious residential vacation rental to be enjoyed year-round by adventure seekers in the mountains. This 5 bedroom, 4 bath residential rental is professionally managed and comes complete with billiards, ping pong, foosball, fire pit, 2 spacious living areas, a full kitchen, a kitchenette and a wet bar and a grand 2-sided wood burning river rock fireplace that used to be a centerpiece of the dining experience. The master suite also has a large wood burning stone fireplace. No covenants, not part of DMR master plan and not a part of the DMMA. A trail leads from the back door straight to the Columbine parking lot and on to the ski runs. Enjoy breathtaking BIG VIEWS of the Needles Mountains from the fire pit and various patios/decks...they might just be among the most spectacular views in all of La Plata County. Located just north of the main entrance to the Purgatory Resort, this location is easily accessible via Highway 550 year-round. This offering is for the 8,762 SF building - with about 4,500 SF of it current utilized as the vacation rental and the balance is used by the Seller personally for storage. Among the storage "spaces" that could be repurposed by the next owner include an indoor pool, the "old" ski shop and an area that used to be the commercial kitchen. PLUS this Offering includes the 2.214 acres of land directly to the south with US Hwy 550 frontage and views. So many options to be considered here...a new owner could consider building 2 additional guest homes to complement the large mountain getaway; (2) Seller has conceptual plans into the County now for 10 RV park model cabins + 100 rental storage containers; (3) it could possibly be brought back to its heyday as a restaurant/bar and/or some kind of market, (4) Seller also has conceptual multifamily plans, or (5) bring your own development plans and ideas! Seller will carry up to $2,000,000 at 7.5% for 3 years! Will also consider a joint venture for the right opportunity. One-of-a-kind offering at Purgatory Ski Resort north of historic downtown Durango, Colorado.

Additional Information

Interior

Bathrooms Full: 2
Building Area Total: 8,762
Fireplace (Yes/no): Yes
Flooring: Laminate, Slate, Tile
Furnished: Furnished
Heating (Yes/no): Yes
Heating: Forced Air, Fireplaces, Propane

Exterior

Foundation Details: Slab
Inclusions: Furniture
Lot Dimensions Source: GISCalculated
Lot Size Dimensions: Irreg 586' x 290'
Parking Features: Parking Spaces
Parking Total: 8
Road Frontage Type: Highway
Road Surface Type: Paved
Roof: Membrane
Stories: 1
Water Source: Public

Financial/HOA/Schools

Days On Market: 788
Zoning Description: Commercial, Mixed Use

Extra Information

Disclosures: Lead Based Paint Disclosure
Documents Available: Aerial, Easements, Other, Plat, Site Plan, Survey
Robert Gash, ALC

Robert Gash, ALC

Cedaredge, Colorado

(970) 986-2955

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Listed By: Jaime Marquez of Coldwell Banker Distinctive Properties