Pending

49617 N Highway 550

Durango CO, 81301

$3,500,000


$399.45 per sqft

Pending

4 Baths

8,762 sqft

Commercial

Built in 1969

Courtesy of Coldwell Banker Distinctive Properties with Listing Contact: 970-759-8919 

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.

791707

MLS ID

March 27, 2022

Listed

November 15, 2024

Updated

Map

49617 N Highway 550
Durango CO, 81301

Interior Features

Total Stories

1


Total Bathrooms

4


Full Bathrooms

2


Three-Quarter Bathrooms

2


Floor Description

Laminate, Slate, Tile


Fireplace

Yes


Cooling

No


Heating

Yes


Heating Description

Forced Air, Fireplace(s), Propane

Exterior/Building Features

Lot Size

2.9 Acres


Roof

Membrane


Sewer

Connected, Public Sewer

Other Property Details

Area Name

Durango Mountain Area


Days on Market

967


Garage

No


Parking

Parking Space(s)


Parking Total

8


View

No


County

La Plata


Water Source

Public


Pool

No

Listing History

Date

Event

Price

6/21/2024

Pending

2/25/2024

Active

2/14/2024

Pending

11/30/2023

Price change

$3,500,000

3%

8/31/2023

Price change

$3,375,000

-10%

4/27/2023

Active

Courtesy of Coldwell Banker Distinctive Properties with
Listing Contact: 970-759-8919 


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Data last updated on: 11/15/2024

 

 

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