​Q. How does the price of Ourays 9 Acres compare with other properties in the area?
A. Priced at $1.198 million for both parcels, this spectacular building site is less than $130k per acre for the nine adjoining acres. This places it in line with the limited supply of undeveloped land within the Ouray city limits, yet for an historic and breath taking Colorado mountain town - and the parcel size, location, and zoning - a bargain (when recently compared - of 35 land parcels for sale in Ouray, it was the 6th lowest per square foot). The easy access, zoning flexibility (C2 allows for commercial, residential, and/or industrial usage), and site preparation already done make it rare and valuable. Work has been completed and the parcel subdivided into two - a four acre southern section, and a five acre northern section. The southern four acres is already equipped with a turn lane off of US550 onto a street – the land being donated to the city by J&E Enterprises for the future Uncompahgre Street and accompanying river bridge that will connect River Road on the west side of Ouray with US 550 on the east. Therefore, the southern four acres will become an even more valuable corner lot, at the intersection of US550 and Uncompahgre Street. Adding further value has been the filling and raising of the southern four acres to street level. Views towards the San Juans and Mt. Abram to the south of the property are inspiring. We love most of the real estate within the city and county of Ouray, and are proud to have been developing some of it for over four decades. We are fortunate to have this particular parcel in our property portfolio ... and the opportunity can be yours.
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Q. Will you sell the individual parcels that are currently 5 and 4 acres?
A. Yes, the southern 3.9 acres - the corner lot, where US550 and the future Uncompahgre Street and bridge intersect, is priced at $599,000., and the northern 5.3 acres is also priced at $599,000. We believe it would be a wise investment to buy both parcels, develop one, and then follow up with further development or lot sale of the second. As the developer of the first parcel, you will be able to positively influence the value of the second.
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Q. What types of property neighbors are there?
A. We believe good neighbors on all fronts ... to the south of Uncompahgre Street is the commercial warehouse space known as BIOTA – the original developer. Motels, cabins, and RV parks are just south of this. Across US550 to the east are town homes and streets with attractive single family homes. Just past the NE corner of the property is a city park, rink, and climbing area. Directly north is a luxury single family development with 8 lots and 2 beautiful and spacious homes currently built and owner occupied. A bridge across the river is in place for trail users that include hikers and bikers. North of the subdivision is a beautiful and spacious ranch. On the west side of the property is the Uncompahgre River and just on the west side of it are lots and single-family houses. The aerial video provides excellent views of neighboring properties.
Q. What do you think the ideal usage of the property is?
A. We have sketched out a variety of possible uses on the IDEAS page, including town homes, an additional hotel with resort lodging, a modern convention and recreation center, a single ranch or a few ranches, apartments, a storage center, an RV park, a storage space business, a convenience center, a car wash, an off-road center, a museum tied to area interests, a transportation company needing parking and warehouse space– the list is as long as our (and your) imagination. Even someone that simply speculates on increasing values in Ouray. The C2 zoning designation provides for potential residential, commercial, and industrial use.
With two parcels, it is exciting to imagine a residential use on the north parcel, and a commercial use on the south parcel at Uncompahgre Street, across from the warehouse. Lodging demand has continued to increase, with most of the hotels and inns at summer capacity, even as VRBO, AirBnb, and other rental sites have grown in popularity and added to the bed count. Plans for multi-million dollar additional room accommodations only increase traffic and opportunities - "rising water raises all ships." J&E can produce and provide a variety of agreed upon reports, including commercial feasibility studies for stakeholders, funding agencies, banks, and other interested parties.
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Q. Some of the sketches show different lot configurations. How would this occur?
A. J&E Investment Corp (dba J&E Enterprises) went through the planning and approval process with the city to divide the single 9 acre parcel into the current 2 parcels of 5 and 4 acres. The same would be done for a building project where perhaps 3 lots were desired, or many single family home sites. Negotiations with the city regarding fees for water and waste taps would be a normal part of property plan approval and development.
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Q. I am a Realtor - can I represent the property?
A. Yes, we will negotiate and accept a contract with a commission for your realty services. We respect the value of professional representation on J&E Enterprise's commercial projects. There are many excellent and knowledgeable agents within the area. We will assist you with showing and discussing the property - we want to help the agent and the future owner with information and ideas.
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Q. I notice the property is next to the river. Does it ever flood?
A. The primary concern throughout Colorado is with "flash flooding" during the summer "monsoon" period. Farther uptown some of the watershed areas feed into creeks, and flumes have been built to reduce the highest concern, which is damage from rock slides. At the property, the Uncompahgre has been re-channeled both deeper and wider, and designed to exceed 100 year flood plain levels. Further, through time, fill has been added to raise the property elevation and further mitigate flooding potential.
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Q. What is the weather like?
A. Related to elevation and the arid SW, Ouray truly experiences four wonderful seasons. Storms come in the form of the "monsoon" thunderstorms in July and August and produce the multitude of alpine wildflowers, while frontal snow storms from the west coast throughout the winter keep the ski areas happy. Snowfall averages 139" while close by ski areas will get three times this amount. People say the winter is much milder than winter in the Midwest and Northeast US. Flowering trees, daffodils, and other spring flowers bloom with abundance. Most days are blue skies, clean fresh air with passing puffy white clouds.
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Q. What activities are there in the town and region?
A. Ouray has a new hot springs pool built in the historic and beautiful city park area. There are also a number of thermal hot springs around the area, catering to the many tourists and travelers that have discovered SW Colorado. Ouray's traffic counts and lodging nights are experiencing strong growth - Ouray has been discovered! Off-roading is very popular, with jeeps and atvs traversing the incredible old mining routes. Hikers and climbers love the trails and rock and ice formations - some of the San Juan peaks are over 14,000 feet and the whole region is as scenic as it gets. There are four ski areas within a couple of hours including Telluride, Durango Mountain, Crested Butte, and Powderhorn. As the crow flies, Telluride is less than ten miles from Ouray! Silverton and its train station is only 25 miles away and features extreme skiing and exciting winter activities. There are a variety of snowmobile trails and roads within the region. It is only three hours to Moab , with two spectacular national parks and a whole different weather pattern. Abundant wildlife is in the area, including deer, elk, moose, and bear. Whether you hunt with a camera, rifle, or golf club you’ll get your shot. Horseback is still a popular way for many in the area to traverse the trails. Livestock, ranching, and mining are key area and Colorado industries, still providing an authentic western feel, even today. As they say - so much to do and so little time.
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Q. How do I get to the property?
Airline service from major airline carriers is available at Montrose (MTJ), which is 35 miles north on US550. Additional service is available from Grand Junction (GJT - approx. 90 miles north (I70 and US50), and also from Durango (DRO - which is 73 miles south (US550)). Ouray and SW Colorado are situated centrally between Denver, Albuquerque, Salt Lake City, Phoenix, and Las Vegas. Highway access is via US550 from Durango and Montrose, and US50 and I70 from the east and west, Area rental car companies and Telluride Express provide a large number of ground transportation options. WARNING: You are going to want to stay weeks not days. Many National Parks are within a few hours!
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