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123 N Lena

  
Property Info
123 N Lena
Ridgway, CO 81432
$1,550,000
2808 Square Feet
Commercial
MLS# 777639
County: Ouray
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Property Details

The historic True Grit Café 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 café pays tribute to the “old west” with art and décor 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 in and 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. The real estate building has been recently appraised which validates pricing. 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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Interior Features
  • 2808 Square Feet
  • Number of Units: 1
  • Zoning: Commercial
  • Building Use: Restaurant, Bar
Exterior Features
  • 0.10 Acres

Courtesy of Kari Girard

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This data was last updated: 2021-06-14 12:16pm

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PUBLISHER'S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act of 1968 and the Colorado Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.