121 W Colorado Avenue, Telluride, CO 81435 (MLS # 42328)
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This premier high-traffic development and investment opportunity is located on the sunny side of Colorado Avenue in the heart of downtown Telluride, between Fir and Pine Streets, along one of the most active pedestrian blocks in town. Formerly home to Telluride Outside, the existing non-historic structure may be removed and replaced with a dynamic mixed-use project with a two-year HARC approval in place, including a restaurant with a lower-level speakeasy, a three-bedroom penthouse residence, and a one-bedroom affordable housing unit. The property currently provides strong lease income, offering attractive cash flow while a future development is planned. Seller financing is available. See disclosures in the Addendum and click on documents.
| DAYS ON MARKET | 746 | LAST UPDATED | 3/11/2026 |
|---|---|---|---|
| TRACT | None | YEAR BUILT | 1970 |
| COMMUNITY | Town of Telluride - 11 (Major Area 10) | COUNTY | San Miguel County |
| STATUS | Active | PROPERTY TYPE(S) | Commercial |
| PRICE HISTORY | |
| Prior to Mar 11, '26 | $5,900,000 |
|---|---|
| Mar 11, '26 - Today | $5,600,000 |
| ADDITIONAL DETAILS | |
| AREA | Town of Telluride - 11 (Major Area 10) |
|---|---|
| BASEMENT | Crawl Space |
| CONSTRUCTION | Frame |
| LOT | 3049 sq ft |
| SUBDIVISION | None |
| TAXES | 36435.06 |
| UTILITIES | Natural Gas Available |
| ZONING | Commercial |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Telluride Properties
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The data was last updated on: 3/22/26 11:57 AM PDT
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