Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    65 Gillaspey Ave Crested Butte, CO 81224

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    12-unit storage facility with redevelopment potential in CB South.

    Property size:
    2,091 SF
    Lot size:
    0.31 Acres

    Property Features for 65 Gillaspey Ave

    General Information

    Standard status
    Active
    Size
    2,091 SF
    Lot size
    0.31 Acres

    We can help!

    Listing Contact
    Carolyn Wayne-Cerio
    Source: Exprealty

    Listing Agency: Peak Property Management & Sales Listing Agent: Carolyn Wayne-Cerio

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    CB South Storage Opportunity

    This property presents a business opportunity with a 12-unit storage building, currently operating at 0% vacancy. Located in the commercial district of CB South, the lot offers redevelopment potential for creating additional commercial or residential spaces. The existing structure includes eight 10x20 sqft units with ground-level garage doors and four 10x10 sqft units with door access. The units currently generate a gross rental income of $2080 per month.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Auto Repair Shop Nail Salon Gym & Fitness Center Department Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crested Butte
    County
    Gunnison
    State
    Colorado
    Longitude
    -106.8858746
    Latitude
    38.8110379

    Nearby Similar for Sale

    • $389,000
      4,000 SF

      Established Event Rental Business

      Event rental company serving the Gunnison Valley for sale.
      80 Buckley Dr, Crested Butte, CO 81224
      View Details
    • $1,400,000
      2,350 SF

      Restaurant and Gas Station Opportunity

      Restaurant, convenience store, and gas station in Crested Butte, Colorado.
      228 Elcho Ave, Crested Butte, CO 81224
      View Details
    • $507,000
      564 SF

      Crested Butte Retail/Commercial Unit

      564 SF retail/commercial unit in the heart of Crested Butte.
      309 Belleview - #1-A, Crested Butte, CO 81224
      View Details
    • $530,000
      573 SF

      Retail Unit in Crested Butte

      573 SF retail unit in the heart of Crested Butte.
      309 Belleview - #1-B, Crested Butte, CO 81224
      View Details
    • $697,000
      820 SF

      Crested Butte Retail/Office Unit

      820 SF retail/office space in the heart of Crested Butte.
      309 Belleview - #1-C, Crested Butte, CO 81224
      View Details
    • $949,000
      1,925 SF

      Versatile Office Space Near Elk Avenue

      1925 SF office space in Crested Butte's Historic District.
      214 6 St, Crested Butte, CO 81224
      View Details
    • $625,000
      829 SF

      Crested Butte Office Space

      Excellent street-level office space in Crested Butte's best commercial building.
      426 Belleview Ave, Crested Butte, CO 81224
      View Details
    • $699,000
      1,347 SF

      Mixed-Use Property in Crested Butte

      Commercial space and long-term rental condo in prime location.
      611 3 St, Crested Butte, CO 81224
      View Details
    • $599,000
      989 SF

      Versatile Mixed-Use Property in Crested Butte

      Unique property with office space and residential condo in downtown.
      503 Red Lady Ave, Crested Butte, CO 81224
      View Details
    • $3,000,000
      4,073 SF

      Crested Butte Multi-Use Building

      Multi-unit building with commercial and residential spaces in Crested Butte.
      309 Belleview Ave, Crested Butte, CO 81224
      View Details
    • $1,350,000
      2,099 SF

      Mixed-Use Property in Crested Butte

      Multi-use property with retail and residential space in prime location.
      428 Elk Ave, Crested Butte, CO 81224
      View Details
    • $155,000
      0.33 Acres

      Crested Butte Residential Land

      Hillside lot with views in Crested Butte, Colorado.
      263 Anderson Dr, Crested Butte, CO 81224
      View Details

    FAQs

    What type of property is this?
    Self storage facility - 12-unit storage facility with redevelopment potential in CB South.
    Where is this self storage facility located?
    The property is located at 65 Gillaspey Ave Crested Butte, CO.
    What are key features of this property?
    This property features: - 0% vacancy rate indicating high demand and consistent income.; - Located in the commercial district of CB South, offering redevelopment potential.; - Opportunity to build up, creating more commercial or residential space.
    (970) 349-6339
    Request Owner's contact information
    65 Gillaspey Ave Crested Butte, CO 81224
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    65 Gillaspey Ave
    Crested Butte, CO 81224
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    65 Gillaspey Ave Crested Butte, CO 81224
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Carolyn Wayne-Cerio
    (970) 349-6339
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!