318 Elk Ave - Mixed Retail FOR SALE


Crested Butte, CO 81224
$6,500,000 USD
540-272-1628
318 Elk Ave, Crested Butte, CO for Sale
$6,500,000 USD
Mixed Retail - FOR SALE
1/2
null | Request Cap Rate

318 Elk Ave
Crested Butte, CO 81224


OVERVIEW

An exceptional opportunity to acquire one of downtown Crested Butte's largest and most significant mixed-use investment opportunities. Ideally situated in the heart of historic Elk Avenue, Butte Plaza offers a rare combination of stable income, a diversified tenant mix, and an irreplaceable location in one of Colorado's most sought-after mountain communities. The property encompasses approximately 13,770 rentable square feet, including 10 commercial suites occupied by established local businesses and 8 residential studio apartments, providing diversified income from 18 leased units while reducing vacancy risk. Commercial leases provide reimbursement of common operating expenses and commercial property taxes, while the residential apartments generate consistent year-round income. Offered at a price well below the estimated cost to acquire land and construct a comparable mixed-use asset in downtown Crested Butte, this offering represents an exceptional long-term investment opportunity. With limited development opportunities along Elk Avenue, escalating construction costs, and the scarcity of large commercial buildings in downtown Crested Butte, Butte Plaza offers an increasingly rare opportunity to acquire a substantial downtown asset that would be extremely difficult to replicate today. The building has benefited from a recently installed membrane roof system, recent exterior painting, and a professionally maintained elevator, helping minimize near-term capital expenditures. Its premier downtown location provides exceptional visibility, strong pedestrian traffic, and immediate access to Crested Butte's restaurants, retail, galleries, and year-round community events. Whether held as a long-term income-producing investment or as a legacy asset, Butte Plaza offers stable cash flow, diversified tenancy, high barriers to entry, and exceptional long-term appreciation potential in one of Colorado's most supply-constrained resort markets

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$472 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

318 Elk Ave

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Mixed Retail

ADD'L SUBTYPES

Storefront, Storefront Retail/Office, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1983

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22

LAND SF

9,375

ZONING

-

APN/PARCEL ID

R003354

ASK ABOUT THIS PROPERTY

Michael SwanColdwell Banker Mountain PropertiesMore Info
540-272-1628

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Michael SwanColdwell Banker Mountain PropertiesMore Info
540-272-1628

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.