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801-813 Main Avenue Durango CO Real Estate

Rare opportunity to own one of Downtown Durango's most prominent Historic Buildings. The 24,002 sqft 3-story NEWMAN BUILDING on the corner of 8th and Main is being offered for sale for the first time in over 50 years. This historical property was built in 1892 by prominent businessman Charles Newman, who made his fortune in drug stores and also owned the Swansea Mine in Rico and went on to become a Colorado State Senator. The Newman Building was built in the Richardsonian Romanesque style with red sandstone ashlar blocks from Ramsey's Quarry near Dolores, and includes ornate cornices with gold trim, giving this three-story building its stately look. Mr. Newman dressed this corner edifice with cast iron storefronts and a pressed metal frieze with bas-relief garlands. This is arguably one of the most history rich buildings in all of downtown Durango. Originally home to Smelter National Bank in the 1890's, there is a large walk-in vault on the first floor in what is now a retail space, as well as a specially constructed vault on the 2nd floor which still exists today. The Kiva Movie Theater was added onto the west side of the building in 1928, and in 1930, 20th Century Fox bought the theater where movies were shown into the 1980's. Actor Jimmy Stewart was made an honorary Mayor of Durango in 1952 in a ceremony at the Kiva theater, while filming the movie 'Naked Spur'. In the late 1980's, the theater closed, and that portion of the building was converted into an expansive, open concept retail/bar space that is currently home to a successful pool hall and bar. The building has been beautifully restored and maintained over the years, and the property stretches from Main Ave back to the alley where the Durango & Silverton Narrow Gauge Railroad passes by daily. The upper floors are serviced by an elevator, which when the building was constructed in the 1890's, was a curiosity and people would come to the building just to ride the elevator since it was reported at that time to be the only elevator between Denver and Phoenix. Today, the 2nd and 3rd floor offices all have exterior windows which is a very unique feature. Each floor has a grand staircase entry and beautiful large common atrium areas and wide hallways. The retail spaces on Main Avenue enjoy one of the prime locations in Downtown Durango for pedestrian traffic. There are also 2 retail spaces in the basement with stair access on 8th Street that also benefit from this great location in the heart of downtown. Further down on 8th Street all the way to the alley are 2 successful bars. The Building currently enjoys 100% occupancy and historically has had a very high occupancy rate due to the location and quality of these retail and office spaces. This is truly a generational legacy opportunity to proudly own one of the finest buildings in all of Downtown Durango. Properties like this just don't come along for sale very often so don't miss your chance to learn more about this fine investment today.