Part of old west mining town for sale near Telluride

RICO, Colo. (KDVR) — Whilst property and rent selling prices soar in the Denver metro, out west, there’s an aged mining town named Rico that properties the biggest industrial home on the current market.

In accordance to CoStar and LoopNet, the 1,100-acre Silver Springs at Rico home is the greatest mass business land for sale in the condition. The listing rate is $10 million.

The City of Rico (which indicates “rich” in Spanish) is positioned somewhere around 30 miles southwest of Telluride in unincorporated Dolores County. It was settled in 1879 and nevertheless has just about 150 mines.

The house encompasses U.S. Forest Service land that could be made via an trade in other places in any other Colorado city.

“The probable for a land-swap for conservation and enhancement presents extra benefit to the customer, as does the geothermal element, which could give each an amazing amenity for end users of the assets as nicely as a way for the owner to obtain a web-zero power creating by tapping the renewable energy supply obviously developing on the web-site. We invite investors from Colorado and all in excess of the region to just take a glance at the assets,” Mark King of Remedies RE, who is promoting the assets for the owner, mentioned.

The web page incorporates land in the downtown space and northeastern, southeastern and western boundaries of the town. Rico sits at 8,847 ft nestled in mountains achieving elevations of above 12,000 toes with the Dolores River managing immediately via the town.

Zoning allows for a resort hotel and several hundred housing models, furthermore there is the possible for the development of incredibly hot springs on the home.

“Sites of this scale, at this elevation, with this stage of density currently recognized are exceedingly exceptional. Silver Springs at Rico has the opportunity to be the up coming wonderful mountain resort spot and residential community,” Eric Saunders of Telluride Properties, LLC, who is promoting the property on behalf of the owner stated. “A incredibly hot springs resort resort could anchor the residence and by extension downtown Rico, surrounded by a blend of for-sale and rental housing.”