Located just a few steps to the Lake, this charming turn-of-the-century cottage could be your dream come true! Almost 1400 SF on the main level plus an unfinished basement & a shed for extra storage. Updates include: new Champion windows, flooring, furnace, hot water heater, and the roof is 5 years new! Two outdoor patios already in place for sunny afternoons and evenings around the fire pit! Right across the street is the Lake & park where year-round community events take place, like the Palmer Lake Wine Festival and the 4th of July celebration & fireworks! Active lifestyles enjoy the Palmer Lake recreational amenities like pickleball, disc golf, fishing, volleyball, paddle-boarding, and more! This property is situated in the best part of the village...nestled between Ben Lomand & Sundance Mountains near the glorious Palmer Lake Star (listed on the Historical Register as the largest illuminated star in the world!) & the trailheads leading to National Forest! With Palmer Lake's desirable CC zoning, this home presents so much opportunity! CC zoning has many permitted uses including mixed-use, multi-family, retail, restaurant, office, service business, etc. Nicely-sized corner lot located a few feet from state highway frontage. Start your vacation rental business here, open a Colorado gift shop or even a wine bar! Well-established restaurants (some, even famous) just a few feet away that do amazing business & are an important part of the community identity. Palmer Lake has a thriving live music scene that draws plenty of visitors too! Ample room for on-site parking plus additional public parking nearby. Palmer Lake is quickly evolving into a destination location due to unlimited outdoor recreation, the most picturesque setting and a laid-back vibe you only find in the most spectacular Colorado small mountain towns! It's your story to write...write it somewhere absolutely remarkable!