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.

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Basic Information

Parcel Number R1010001140

Location

Address121 W Colorado Avenue
AreaTown of Telluride - 11 (Major Area 10)
Building Number121
CountySan Miguel County
Mls Area Minor Town of Telluride - 11 (Major Area 10)
StateCO
StreetW Colorado Avenue
SubdivisionNone
TownTelluride
Zip81435

Amenities

Other AmenitiesBasement

Water Body

Water AccessCity

Tax Information

Taxes$36,435

Rooms

Bathroom1
Bathrooms Total Decimal 0.5
Extra Rooms Bath(s)
Half Baths1

Building

BasementCrawl Space
Building ConstructionBlock, Frame, Wood (Painted)
Year Built1970

Utilities

Common Utilities Regular Phone
Heat SystemBaseboard
Heating FuelNatural
Heating YN Yes

Legal

ZoningCommercial

Parking

Open Area Parking 3 Car +

Basic Information

List Price$5,600,000
MLS Number42328
Mls Status Active
Modification Date05/05/2026
Property SubTypeCommercial Spaces
Property TypeCommercial/Industry
StatusACT

Exterior

RoofOther

Property Information

Acreage0.07
Lot Size Square Feet 3,125
Square Feet1,088

Other

Date Listed03/06/2024
Major Change Type Price Reduced
Special Listing Conditions Other See Addendum, RETT
View Count485

"Based on information submitted to Telluride AOR as of September 27, 2026 6:48 PM UTC . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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121 W Colorado AvenueTelluride, CO 81435MLS Number 42328

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121 W Colorado AvenueTelluride, CO 81435MLS Number 42328

$/month over payments

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More Info

Basic Information

Location

Amenities

Water Body

Tax Information

Rooms

Building

Utilities

Legal

Parking

Basic Information

Exterior

Property Information

Other

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