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117 Ponderosa DriveRidgway, CO 81432Price: $1,275,000

  • Price: $1,275,000
  • Est. Mortgage of $/month
  • 108 Days on Market
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Federal 30-year interest rate: 3.04% last updated on Apr 15, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $1,275,000List Price
  • 11Bedrooms
  • 3Acreage
  • 1985Year Built
  • 14,528Square Feet
Listed by Scott Elkins of Telluride Realty, LLC

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The Keep" Ridgway CO (Telluride) Simply put, there is nothing else like it in the Telluride/Ouray region. Zoned Commercial Multi-Use or Mixed Use or 100% Residential, this substantial 14,500+foot structure is ready for your vision! Just 38 miles to Telluride, as you pass Ralph Lauren's Ranch or 14 minutes to the local Hot Springs resort. This huge structure can become a full residence (all 15,000 feet of it , if you choose, or go mixed use, with home and office with a live/work/play situation) The lot is 3.2+ acres with future building potential (country store or garages etc ) The lot borders open space to the North and the Golf Course abuts it to the East. This stellar location includes a breathtaking backdrop of the jagged Cimmarron’s and San Juans and the 14,000 ft Mt Sneffels. The lot also borders/ abuts the Divide Ranch & Clubs Award-winning 18 hole Golf Course (3rd-4th Hole). This parcel was the original corporate residences of the developer and golf clubhouse built in 1983,(formally Fairway Pines), and has been resurrected with many recent improvements: a fitness center /Gym /ADU-rental unit /residence / new flooring / turf /decking/ Bar / flooring / entertainment area and stage /indoor basketball, 2 tennis courts / putt putt / 2 climbing walls and batting cages and golf driving. The extensive improvements include, but not limited to ADA compliance modification in 2012, new roof 2012 , newly engineered septic and conversion to natural gas. The possibilities for highest and best use include but are not limited to...Brewery/Restaurant/Distillery/Medical Marijuana MMJ/, Country Store, General, Office, Lodging, Professional/Medical, basically you can name it! A wedding planner and events/retreat /music live work play layout seems very easy! The prior sprawling indoor salt water pool (2,400 feet) can easily be brought back into compliance, currently its set up as a music venue/sunken entertainment area. This is truly an incredible lifestyle and live work opportunity ,for the wise visionary as there is not another live work play structure for 20 miles in the county/ town or region. Currently vacant income projected. Gym income would easily be 3k a month, The ADU could be rented for 2k easily per month . Airbnb or wedding income easily over 50k a year. The total projected income could be over 100k without much work in our opinion. * a SUP would need to be applied for thru the county. Income projected : 2k a month for the ADU = $24,000 Main residence =3k month =$36,000 Summary $60,000 @ 4% cap rate = $1,200,000 This does NOT include any income from the gym or venue or grounds for weddings etc, This simple projection is for a "long term" rental income, the short term or airbnb would be dramatically higher ****Please view the 2 videos( virtual tour), they will help explain the amenities and parcel*****

Property Details of 117 Ponderosa Drive

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 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.
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Real Estate listings held by companies other than Grace Golden Country Homes LLC contain that company's name.
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The data on this site was last updated April 20, 2021

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