Historic Telluride photos

Commercial Market Bulletin

Telluride Real Estate Updates

The Colorado commercial real estate market segment in Telluride has seen serious activity and momentum.

The significant 2013 commercial sales were:

  • Mahr Building, 131 West Colorado Avenue: Sold Price $2,440,000 MLS # 29436
  • Dahl Haus, 122 South Oak Street: Sold Price $1,250,000 MLS # 26449
  • Senate/Wick Building, 125 South Spruce Street: Sold Price $2,050,000 MLS # 29887
  • Telluride Times Building, 224 East Colorado Avenue: Sold Price $2,200,000 MLS # 28408
  • Fly Me to the Moon Saloon, 132 East Colorado Avenue: Sold Price $600,000 MLS #29379
  • And of course the sale of the Zoline property (The four corners parcel, the intersection of Pacific and Fir); Not in MLS

Year to date 2014 sales are:

  • The Music Store, 201 East Colorado Avenue: Sold Price $2,200,000 MLS #31132
  • Montana Placer, 210 South Oak Street: Sold Price $2,495,000 MLS #28538
  • Shanghai Building, 126 East Colorado Avenue: Sold Price $1,800,000 MLS #30015
  • Lots 9 & 11 corner of Pacific/Spruce: Sold Price $2,275,000 MLS #30872
  • Smuggler Units 225 South Pine: Sold Price $1,650,000 MLS #30052
  • Telluride Times Building, 224 East Colorado Avenue: Sold Price $2,598,000 MLS #30505
  • The half block near the post office. Sold Price $5,800,000 Not in MLS

This leaves only a few whole structure commercial properties listed:

  • The Steaming Bean, 221 West Colorado Avenue: List Price $2,495,000 MLS #29845
  • This property is fully entitled with a penthouse residential unit in the back.
  • The Yarn Shop, 320 West Colorado Avenue: List Price $1,890,000 MLS # 30009
  • Blue Point Restaurant, 123 South Oak: List Price $3,450,000 MLS # 28129
  • The Old Wagner gallery, 120 North Fir: List Price $1,750,000 MLS # 30131
  • The Studio Frank Building, 290 S. Townsend: List Price $4,375,000 MLS # 29582
  • The Old Bank Building, 109 West Colorado: List Price $2,350,000 MLS # 31277
  • That is all for free standing commercial structures listed.

Smaller commercial and office spaces also have seen a lot of activity. With a series of sales in the New San Juan Building, Heritage Building and Elks Building.
Good examples for current listings are:

  • The Arroyo Space (2 units), 220 East Colorado: List Price $798,811 MLS # 30330
  • The Hot Yoga Space, 220 East Colorado: List Price $326,346 MLS # 30183

Again very few properties are available.

I hope this commercial overview helps. Feel free to contact me with any questions about commercial property.

Telluride mountain views

Deep Creek Mesa

Telluride Neighborhood Market Report

Looking for a Telluride, Colorado property? First, let’s define Deep Creek Mesa properties of course the Aldasoro Ranch subdivision, Sunnyside, Last Dollar Subdivision, Meadows at Deep Creek Mesa, Deep Creek Ranches, Diamond Ranch, Aldasoro Ranch, Golden Ledge and Grey Head.

Deep Creek Mesa has southern exposure, sun and spectacular views of the Wilson Range (San Miguel Mountains) the Ski Area, Town of Telluride, Ilium Valley, the San Sophia Ridge and Grey Head. Truly 360 degree views. Deep Creek Mesa has been a very popular residential area because of the sun, views and wildlife.

Like most real estate markets in the US and the Telluride area in particular, Deep Creek Mesa is waking up from a recession slumber. In general the residential improved properties have had some more activity than the vacant land parcels, this is probably due to the fact that because of the recession many improved residential properties have been offered for sale at or below replacement cost. Some of the most notable of the last two years sales are of course Pagomo in Grey Head for $13,200,000 and 387 Two Creeks Drive in Sunnyside for $6,150,000.

Most likely as soon as some of the lower valued (about a handful) improved properties sell or contract vacant land will start picking up again. The following I see as a good value for this summer’s sales season:

Improved Properties:

  • 335 Old Toll Road ● Ask Price $2,799,000 ● MLS #30516 ● 4 bed ● 4 bath ● 5,686 SQFT ● 4.21 Acres
  • 55 Old Toll Road ● Ask Price $2,395,000 ● MLS #30628 ● 5 bed ● 3.5 bath ● 4,244 SQFT ● 3.37 Acres
  • The above two properties are located in the Meadows at Deep Creek Mesa Subdivision, no transfer tax, Dogs are allowed, both have a fireplace or wood burner, free cable TV, Internet and phone.
  • 217 E Serapio Drive ● Ask Price $2,259,000 ● MLS #25064 ● 5 bed ● 4.5 bath ● 5,018 SQFT ● 3.4 Acres
  • 106 Miguel Road ● Ask Price $3,100,000 ● MLS #30217 ● 5 bed ● 5 bath ● 6,335 SQFT ● 3.08 Acres
  • 209 Aldasoro Road ● Ask Price $2,475,000 ● MLS #30922 ● 5 bed ● 5.5 bath ● 5,498 SQFT ● 2.77 Acres

Vacant Land:

  • Aldasoro Lot 105, TBD Basque Road ● Ask Price $630,000 ● MLS #30462 ● 1.8 Acres
  • Aldasoro Lot 103, 305 Basque Road ● Ask Price $595,000 ● MLS #29903 ● 4.54 Acres
  • Meadows at Deep Creek Mesa Lot 6, TBD Old Toll Road ● Ask Price $599,000 ● MLS #31350 ● 4.3 Acres
  • Aldasoro Lot 45, TBD Aldasoro BLVD ● Ask Price $549,000 ● MLS #27503 ● 2.12 Acres
  • Aldasoro Lot 51, 109 Aguirre Road ● Ask Price $619,900 ● MLS #30981 ● 2.77 Acres

35 Acre Parcels:

Golden Ledge, Parcel #6, TBD Three Sisters Way ● Ask Price $1,695,000 ● MLS #31497 ● 35 Acres
The seller wants this property gone this summer, bring offers.

I hope this gives a good market overview for Deep Creek Mesa. If you want views, sun and elk please take a tour of Deep Creek Mesa.

Historic image of downtown Telluride

Historic Panoramic Photos

Telluride, Colorado History

These are a series of photos of the Telluride Historic District and town that can help you find particular property and analyze shape and configuration. Another good photo resource is Volume 2 of the Rio Grande Southern Story “Telluride, Pandora and the Mines Above”.

Historic image of downtown Telluride

National Register of Historic Places

Telluride, Colorado

In 1966, the U.S. Senate enacted a bill that preserves and protects historic landmarks, places, and districts. A historic district includes buildings, properties, or historically rich land that is protected because of its history or architectural significance.

Telluride is a designated National Historic Landmark District that encompasses 80 acres of downtown Telluride and 7 acres outside of downtown. As one of four communities in Colorado with this designation, Telluride residents are committed to the preservation efforts of its Old West architecture, open space, and small mountain town lifestyle.

Telluride is a wonderful community to be a part of and we take great pride in our town’s architecture and that of the homes built here.

For more information on Telluride, Colorado history and its National Historic Landmark District, please view the PDF version of the town’s registration form.

Sanborn map

1908 Telluride Map

Historic Telluride, CO

The Sanborn Insurance Company made maps of many towns and cities in the U.S. and these are valuable resources for historians and historic preservation analysis. This Telluride map is a compilation of a loose-leaf set of maps for Telluride and is dated 1908. This is the last Sanborn map before the expiration of the Period of Significance in 1913. If your home or building is shown on this map, it is historic.

Sue Chesler Lincoln

Telluride Real Estate Update

Telluride Getting Its Edge Back

Like a new pair of Solomon Shogun skis, the Telluride real estate market is getting its edge back. The last few years have been slow, and like many real estate markets, Telluride’s spectacular real estate value rise since the 1980’s slowed to a crawl. Inventory increased and transactions were not keeping up with the supply. That is now changing. Transactions both in volume and dollar amounts have increased significantly in 2012. The town of Telluride is leading the charge with single family home sales. Condominium sales in the Mountain Village are picking up. The supply of competitively priced properties is shrinking. It is a Buyer’s market, but many property owners and sellers in the Telluride market have a limited amount of lender exposure on their properties, and this has given good price stability. There is still good value to be purchased, but as the properties are absorbed, new listings will most likely come with a higher asking price.

The commercial market is coming back. Lease rates are stable and vacancy rates are near zero for retail and 2%-3% for office. One unique historic property we are currently offering for sale is the “Mahr Building” in downtown Telluride, located at the site of the first bank robbed by Butch Cassidy. Asking price $2,749,000. View this listing at our website. During the down turn, Telluride was blessed with good snow conditions and our visitor count was minimally affected. The summer season of course is packed with fun events, Bluegrass, Jazz, and Blue & Brews music festivals, and Mountain Film and Film Festival for celluloid lovers. The future is bright for Telluride and Telluride’s real estate market. Come and enjoy our mountains. Call us if you would like to look at real estate.

If you need help looking for homes for sale near Telluride, CO, contact Telluride Real Estate Brokers!

Downtown Telluride

Commercial Properties in Downtown Telluride

Telluride Market Report

A recent sale and a few contracts in this small but significant Telluride commerical real estate market seem to be signaling a change from the lows that were set during the recent recession.

First the good news, and then an analysis of the low sales during the recession. The sale of the Red Brick Condominiums building located at 209 E. Colorado Avenue for $4,500,000 showed market strength for a quality product. This building consisted of two roughly one thousand square foot commercial spaces, a deed-restricted studio apartment, and a 3,300 square foot, 4 bedroom, 4.5 bathroom, luxury penthouse with a large deck. The penthouse was the only unit being offered for sale for $3,300,000. The buyer liked the whole building and wanted to control what was happening below them, and they made an offer to buy the whole building.

Another quality project that just contracted and is scheduled to close in the beginning of December is Ray Messier’s building on South Fir Street listed for $5,600,000. This 4 bedroom, 4 full-bathrooms, 3 half-bathrooms, 4,614 square foot building again demonstrates market rebound and quality sells.

Two other contracts worth noting are the lease-purchase of the Telluride Times Building with asking price $3,183,000, scheduled to close the end of 2013; and the smaller commercial Wasatch II unit listed at $395,000 that contracted within one week of being offered for sale.

The commercial market has to overcome some low, low, recession sales such as the Emporium Building on the corner of Colorado Avenue and North Fir St. It has 4 stories (including basement) and a total of 13,500 square feet. This sale occurred in September 2010 for $3,175,000 or $552 per square foot. The sale of Community Banks’ property (the Old Honga’s Restaurant) on South Oak Street sold together with a development parcel on the corner of Pacific Avenue and Aspen Street for only $3,175,000. This was owned by the FDIC. Other note-worthy low sales were the Bookstore and HUB spaces in the old Pekkarine Building that sold for $394 and $372 per square foot respectively. There were very low prices for strictly retail, main-level, commercial spaces.

As far as listings go, there are not too many commercial properties offered for sale. The only whole-building currently offered on Main Street is the historic Mahr Building listed for $2,749,000 with 3,676 square feet. This is a two story building with expansion potential. Two other whole-buildings are offered for sale on South Oak St: the historic Dahl House, 3,065 square feet listed for $1,394,575; and the old Blue Point Restaurant Building, 4,855 square feet offered at $3,995,000. As far as currently listed properties, I see the Mahr Building and the Dahl House as very well positioned in the market.

Attached also is a market analysis for your review.

Sincerely Yours,

Dirk de Pagter
Managing Broker
Telluride Real Estate Brokers, Inc