404 N Main St, Gunnison, CO 81230

Property Description

Downtown Gunnison | 4 Contiguous City Lots | 2 Units (1BD/1BA Each) | CC Zoning | Opportunity Zone. A rare chance to secure a premium Main Street location with a well-maintained two-unit property, each 1 bedroom and 1 bathroom, situated across four contiguous city lots—offering both immediate income potential and exceptional long-term upside. Enjoy central Gunnison living within walking distance to shops, cafes, Western Colorado University, and the Whitewater Park, or leverage the site’s significant development flexibility. Zoned B-1 (Professional Business), the property supports a wide range of uses—from mixed-use residential to professional office to boutique lodging. The site previously received Conditional Use approvals from both the City of Gunnison and CDOT for a boutique hotel concept. These approvals have expired but provide valuable precedent and a strong foundation for future entitlement work. Located within the federally designated Gunnison Opportunity Zone, the parcel qualifies for capital gains tax incentives, adding meaningful value for long-term investors and developers. With the Gunnison Valley facing a projected housing shortfall of more than 1,000 units by 2029, demand for residential and lodging inventory remains high. Whether you plan to live, rent, hold, or redevelop, 404 N Main Street offers unmatched Main Street potential in the heart of Gunnison.