Location, Location, Location! Prime Mixed-Use Development Opportunity in the heart of Ridgway, Colorado. Situated in the Downtown Historic Business District, this parcel is ideal for investors looking to create a dynamic blend of residential and commercial spaces in the fast-growing Ouray-Telluride corridor. A blank template for a true legacy property with incredible long-term value. Unbeatable zoning and development flexibility allows for three-stories of construction (up to 35 feet high),rooftop patios, and a variety of mixed-use options, including retail shops, restaurants, bars, luxury townhomes, a boutique hotel, galleries, outdoor entertainment areas, and/or high-end condominiums. A conceptual design is included with the listing, demonstrating the site’s diverse potential. Located within close proximity to Ridgway’s beautiful parks, markets, schools, banks, churches, community hubs, scenic trails and outdoor recreation, the property has high visibility and great walkability. Pedestrian-friendly infrastructure is already in place, with landscaped sidewalks and street enhancements surrounding the property. Investors will appreciate the existing infrastructure, including municipal water & sewer, electricity, natural gas, and high-speed internet. The property is currently improved with a rented single-family residence providing an interim income stream. A wonderful opportunity to invest in the future of southwest Colorado - - Ridgway has become a premier destination thanks to its strategic location between Telluride, Ouray, Silverton and Montrose. With strong tourism, a growing community, and unparalleled mountain views, this is a rare opportunity to bring your vision for Colorado’s future to life. See also MLS #20251286 for the sale of the adjacent property at 172 N. Laura Street. Together, the properties represent 5-contiguous town lots (an entire quarter block bounded by two streets and two alleyways).