165 Midland Avenue, Basalt, CO 81621
$12,500,000
Property Type:
Residential
Bedrooms:
2
Baths:
4
Square Footage:
5,364
Lot Size (sq. ft.):
13,939
Status:
Active
Current Price:
$12,500,000
List Date:
3/25/2025
Last Modified:
5/22/2026
Listing Details MLS# 187509
Location Info
- Type
- Condominium
- Right of First Refusal
- No
- Major Area
- Basalt
- Area
- 05-Basalt Proper
- Original List Price
- 13495000
- Asking Price
- 12500000
- Street #
- 165
- Street Name
- Midland
- Street Suffix
- Avenue
- City/Town
- Basalt
- State/Province
- CO
- Postal Code
- 81621
- Furnished
- Unfurnished
Keywords Info
- Total Baths
- 4
- Baths - Full
- 2
- Baths - Half
- 2
- Acreage
- Refer to Lot Size
- Garage
- No
- Pre-Fabricated Home
- No
Listing Info
- New Construction
- No
- Seller/Owner is Licensed
- No
- Short Sale
- No
- REO
- No
- Auction
- No
- In Foreclosure
- No
- Member Association
- Aspen Association
- County
- Eagle
General Info
- Sub/Loc
- Townsite of Basalt
- Legal
- Condominium Units 1,2 and 3, Building 1, AND CONDOMINIUM UNIT 11, BUILDING 3 Frying Pan Inn Condomimiiums.
- Zoning
- C-2
- Nbr of Acres
- 0.32
- Lot SqFt
- 13939
- Lv Ht SqFt
- 5364
- Total SqFt
- 5364
- Price/LvH SqFt
- 2330.35
- ud_i_02
- 2
- Main Floor Primary Bedroom
- No
- Year Built
- 1896
- Year Remodeled
- 2006
- Parcel #
- 246707416001
- Directions
- From Aspen head down valley on Hwy 82 and exit at the town of Basalt. Take a right and drive over the bridge onto Midland Avenue. Property is located in the middle of the town on the right next to Alpine Bank.
Financing Info
- Metro Tax District
- No
- Taxes
- 19113.32
- Tax Year
- 2025
- Transfer Tax
- No
- HOA Dues Y/N
- No
- HOA Transfer Fee
- No
More Information
Remarks
- Public Remarks
- A rare opportunity to acquire one of Basalt's most iconic and historically significant properties- the Colorado Midland Hotel, built in 1896 and recognized as a designated historic structure. Currently home to the renowned Tempranillo Restaurant, this landmark building is ideally situated in the heart of downtown Basalt, steps from local boutiques, fine dining, and the Roaring Fork River. Property Highlights • Prime Downtown Location on Midland Avenue - Central lot on Basalt's main street corridor, surrounded by active retail, dining, and cultural amenities. • Mixed-Use Potential - Existing configuration includes first-floor restaurant and upper-level residential. • Zoning: C-2 Downtown Business District - Encourages a dynamic blend of commercial and residential uses within a pedestrian-friendly setting. • Historic Charm, Modern Upgrades - Carefully remodeled in 2006 while preserving its original architectural details. • Transferable Income - Existing leases for both commercial and residential units provide immediate cash flow. With approximately 0.322 acres and an existing ±5,364 sq. ft. of floor area, the site allows for significant redevelopment potential under Basalt's C-2 zoning. The property is offered without entitlements, and all interested parties are encouraged to conduct independent due diligence with the Town of Basalt. Refer to MLS 182521 for more information on the Commercial Mixed Use Development Opportunity.
Property Features
Construction:
Brick; Frame
Roof:
Composition Shingles
Condition:
Good
Gas:
Natural Gas
Water:
Community
Possession:
DOD; Negotiable; Subject to Lease
Extras:
Landscaping; Storage Shed
Terms Offered:
Cash
Disclosures:
1031 Exchange
Mineral Rights:
No
Water Rights:
No
Documents on File:
CC & R's; Easements; Financials; Leases; Survey/ILC
Location Amenities:
Corner Lot
Sign:
No
Tempranillo Survey 2006 ›
Listing Office:
Douglas Elliman Real Estate-Willits
Last Updated: May - 22 - 2026
Broker Attribution:
(970) 925-8810
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