Black Bear Manor is a premier turnkey bed and breakfast offered at $2,950,000 with an impressive 8.7% CAP rate. Ideally located at the end of a quiet dead-end street just steps from Main Street and the Uncompahgre River, this beautifully maintained inn offers guests the perfect blend of mountain tranquility and walkable access to the heart of Ouray. The property features ten well-appointed guest rooms, each with a private bathroom and both interior and exterior entrances in 9 of the 10 rooms, providing comfort, privacy, and an efficient layout for owner-operators or hospitality investors. The inn has benefited from extensive 2024–2025 improvements, including all-new Trex decking and balconies, a full exterior repaint, and the complete transformation of Room 1 into a luxurious honeymoon suite. Additional upgrades include two new staff lodging rooms , a full remodel of the observatory with fresh paint, carpet, and furnishings, an updated kitchen, a redesigned outdoor sitting area with a new fountain, upgraded décor and supplies throughout, improved parking lot drainage, a rebuilt roof over the hot tub, drainage and backhoe work around the property, window and sill repairs, new carpet and paint in multiple rooms, dining room enhancements with new countertops and furniture, a new tool shed, and refreshed bathrooms and ceiling fans. These thoughtful updates, combined with the property’s strong reputation and established guest base, create a rare opportunity for an owner-operator seeking onsite living and strong income potential or an investor looking for a profitable, professionally managed asset. With peaceful riverside ambience, mountain views, and immediate access to dining, shopping, and attractions in Ouray’s historic district, Black Bear Manor offers a truly exceptional lodging experience in the “Switzerland of America.”