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165 Midland Avenue, Basalt, CO 81621

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For Sale

$13,495,000

4 beds • 3 baths • 2 half baths • 5,547 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Other Residential
    Property type

  • $2,432.85
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

Located only 20 minutes from Aspen, Colorado this Residential and Commercial land opportunity is in the heart of downtown Basalt, Colorado. The property consists of .322 acres with significant possibility to develop a gorgeous penthouse and/or a high end condominium hotel complex above the commercial space below. There is approximately 5,400 existing square foot multi-use space built on the property. The historical dining and bar area are accented by two fireplaces which consists of approximately 1,820 square feet. The remaining commercial space located on the lower level consists of the Kitchen, Office and Storage areas. The restaurant business is included in the list price. Residential Space: Three residential units are also located on the property on the upper level and to the rear of the building with transferable rental income. Future developments will require approvals from the Town of Basalt. Commercial Space: Includes Dining, Bar, Kitchen, Office and Storage areas on the first floor. Patios: Remodeled attached Patio which is approx. 1,820 square foot with a new roof and drop down enclosures to house guests year round with installed infra heaters. New Stone Patios allow for additional seating in the summer. Property also has an outdoor play ground for children. Square Footage: Seller represents that the square footage amounts are approximates. Buyer to verify square footages. Feasibility Study: Feasibility study created in 2023 identifies future development possibilities. Property is not being conveyed with entitlements. Buyer to verify entitlements with the Town of Basalt and obtain approvals.
MLS# 187509

Courtesy Of Douglas Elliman Real Estate

(970) 925-8810

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Exterior Type
    Brick
  • Lot Size
    0.32 Acres

Map and Directions

Directions to 165 Midland Avenue, Basalt, CO 81621

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Copyright © 2025 Aspen/Glenwood Springs MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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