Follow us on Facebook or Instagram

Give us a call 970-872-3322

$6,500,000
0.22± Acres
Active
Gunnison County, CO
Contact Maps

318 Elk, Crested Butte, Colorado

MLS ID: 836736
Status: Active
Price: $6,500,000
Acres: 0.22±
Type: Development, Commercial
Address: 318 Elk
City, State: Crested Butte, CO
County: Gunnison County
ZIP Code: 81224
Lat/Long: 38.869488, -106.985021
Parcel Number: 325503177004
Listed by: Letitia Mcelroy Swan of Coldwell Banker Mountain Properties
Bathrooms: 8
SqFt: 6,610
Year Built: 1983

Description

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.

Additional Information

Interior

Bathrooms Full: 8
Building Area Total: 13,770
Furnished: Unfurnished
Heating (Yes/no): Yes
Heating: Baseboard, Electric, Natural Gas

Exterior

Lot Size Dimensions: 9375
Parking Features: On Street
Road Frontage Type: City Street
Road Surface Type: Paved
Roof: Membrane, Metal
Stories: 3
Water Source: Public

Financial/HOA/Schools

Days On Market: 3
Tax Annual Amount: 21365.48
Zoning Description: Commercial

Extra Information

Disclosures: Seller Disclosure

Maps

Get Directions
  • NAIP
  • Satellite
  • Topography

,

Interested? Contact Us Today About This Listing

  • This field is for validation purposes and should be left unchanged.

All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information current as of July 16, 2026 at 12:00:00 PM UTC.

SOURCE: The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network (CREN). All data deemed reliable but not guaranteed and should be independently verified. The information contained in this publication is subject to change without notice. TERMS OF USE: This publication is designed to provide information with regard to the subject matter covered. This listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional services and that the publisher and authors are not offering such advice in this publication. If real estate, legal, or other expert assistance is required, the services of a competent, professional person should be sought. WARRANTY: COLORADO REAL ESTATE NETWORK (CREN) MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. COLORADO REAL ESTATE NETWORK SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL. "COPYRIGHT (2026) by COLORADO REAL ESTATE NETWORK" 121 N PARK AVENUE, MONTROSE, CO 81401 USA ALL RIGHTS RESERVED WORLDWIDE. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of Colorado Real Estate Network (CREN). PUBLISHER'S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act of 1968 and the Colorado Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.

Listed By: Letitia Mcelroy Swan of Coldwell Banker Mountain Properties