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    Luxury Ski-In/Ski-Out Condominium Title is generated by Realmo AI

    1855 Burgess Creek Road #3, Steamboat, CO 80487

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    For Sale
    $7,975,000

    Luxury 4-bedroom condominium with ski access and high-end finishes.

    Type:Condominium
    Added:
    Apr 25, 2024
    Days on Market:
    767
    Last Refresh:
    May 19 at 9:21 pm

    Property Features for 1855 Burgess Creek Road #3

    General Information

    Standard status
    Active
    Property subtype
    Condominium

    Building Details

    Year Built
    2023

    We can help!

    Listing Contact
    (970) 870-8800

    Listing agent (970) 870-8800 License #0820183

    Listing office The Group Real Estate

    Listing date Apr 25, 2024

    Source Kw

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

    All listing content including descriptions, pricing, images are the copyrighted material of The Group Real Estate

    HighLights

    • Walk‑to‑ski, slopeside location at the base area with views of the ski mountain, base area, and south valley.
    • Luxury finishes and unique design, not a 'cookie‑cutter' unit.
    • Short‑term rentals allowed with impressive rental projections.
    • Private deck with salt‑water hot tub, pre‑plumbed natural gas BBQ, and privacy screen.
    • Attached, heated two‑car garage.
    • Top‑of‑the‑line appliances, gas radiant floor heat, and air‑conditioning on all levels.

    Overview

    This luxury condominium is part of Steamboat's first luxury development at the base area since 2009. Located slopeside above Ski Time Square, this walk-to-ski property offers views of the ski mountain, base area, and south valley. The 4,337 square foot unit features 4 bedrooms and 3.5 bathrooms with custom finishes. Short-term rentals are allowed. Top-of-the-line appliances, gas radiant floor heat, air-conditioning on all levels, and a 3-sided gas-log fireplace are standout details. A spacious deck with privacy screen, a custom pre-plumbed natural gas BBQ, and a salt-water hot tub offer outdoor enjoyment amidst views. The development features a snowmelt driveway system, and common areas will include gas firepits for apres-ski gatherings. The location provides access to skiing, hiking, mountain biking, restaurants, events at the base area, and the transit center. The Crawford at Burgess Creek consists of three duplexes totaling six condominiums, each with its own attached, heated two-car garage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Steamboat
    County
    Routt
    State
    Colorado
    Longitude
    -106.8050272
    Latitude
    40.4604196

    Nearby Similar for Sale

    • $6,350,000

      Luxury Ski Base Development

      Luxury walk-to-ski property with impressive rental projections.
      1855 BURGESS CREEK Road #1, Steamboat, CO 80487,
      View Details
    • $9,500,000

      Luxury Ski-In/Ski-Out Condominium

      Luxury 6-bedroom condominium with ski access and high-end finishes.
      1855 Burgess Creek Road #6, Steamboat, CO 80487,
      View Details
    • $7,975,000

      Luxury Ski Base Condominium

      Walk-to-ski property with high-end finishes and short-term rental potential.
      1855 Burgess Creek Road #4, Steamboat, CO 80487,
      View Details

    FAQs

    What type of property is this?
    Duplex - Luxury 4-bedroom condominium with ski access and high-end finishes.
    Where is this duplex located?
    The property is located at 1855 Burgess Creek Road #3 Steamboat, CO.
    What is the asking price?
    The asking price for this property is $7,975,000.
    What are key features of this property?
    This property features: Walk‑to‑ski, slopeside location at the base area with views of the ski mountain, base area, and south valley.; Luxury finishes and unique design, not a 'cookie‑cutter' unit.; Short‑term rentals allowed with impressive rental projections.
    (970) 870-8800
    We can help!
    Listing Contact
    (970) 870-8800
    Real Estate License ID: 0820183
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    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.

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