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    123 N Lena Street

    Ridgway, CO 81432
    • $1,550,000
    • STATUS: Active
    • ON SITE: 200 days
    • MLS #: 39071
    UPDATED: 23 min ago
    $1,550,000
    • 0
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 2
      1/2 BATHS
    • 2,808
      SQFT
    • $552
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1986
    County:

    School Ratings & Info

    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 inand 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. 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!

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    © Copyright 2021 by Telluride Association of REALTORS, Inc. ALL RIGHTS RESERVED WORLDWIDE. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Telluride Association of REALTORS, Inc. IDX information is provided exclusively 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 is deemed reliable but is not guaranteed accurate by the MLS or Telluride Properties. Data last updated: 2021-07-27T22:49:13.723.

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    123 N Lena Street Ridgway, CO 81432

    • Price: $1,550,000
    • Status: Active
    • Updated: 23 min ago
    • MLS #: 39071
    0
    Beds
    0
    Baths
    2
    ½ Baths
    0.1
    Acres
    2,808
    SQFT
    $552
    $/SQFT
    1986
    Built
    Neighborhood:
    None
    County:
    Ouray
    Area:
    Ridgway - 71 (Major Area 70)
    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 inand 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. 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

    Level Street Level Open Area Parking On Street Only Parking On Street Special Location None Substructure Other

    Interior Features

    Appliances Commercial Kitchen Extra Rooms Office Primary Heat Forced AirGas Total Units 1

    Property Features

    Business Inclusions BooksClients ListFixtures IncludedInventoryManagementNameOther Commercial Type Commercial Spaces Common Utilities Regular Phone Disclosures None Electric Power Company Gas Natural Lease Info1 Ask Listing Agent Major Area 70 Possession Closing REO No RETT None Sanitation Sewer Short Sale No Sq Ft Source Assessor Tax Year 2020 Taxes 5560.08 Tenants 1 Utility Phone Lines Regular Phone Utility Primary Heat Forced Air Water City Zoning Commercial

    Listing provided courtesy of Kari Girard of Ponderosa Real Estate The Source For Real Estate.
    © Copyright 2021 by Telluride Association of REALTORS, Inc. ALL RIGHTS RESERVED WORLDWIDE. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Telluride Association of REALTORS, Inc. IDX information is provided exclusively 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 is deemed reliable but is not guaranteed accurate by the MLS or Telluride Properties. Data last updated: 2021-07-27T22:49:13.723.

     
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    237 South Oak Street
    Telluride CO, 81435