615 Teocalli Ave Crested Butte, CO 81224

Property Details for 615 Teocalli Ave

Year built

1999

Lot size

0.30 lot acres

Property size

8,271 SF

Property type

Mixed-use properties

Property subtype

Hospitality properties

Description

This exceptional investment opportunity presents a 3-story, 8,271 sq ft mixed-use building in downtown Crested Butte, Colorado. Currently operating as a successful hostel with multiple revenue streams, including lodging, a laundromat with 11 washers and 12 dryers, and a commercial kitchen under a long-term lease. The property boasts 22 beds across 13 double occupancy rooms and two two-bedroom apartments, providing ample accommodation for guests. Built in 1999, the hostel underwent a complete renovation in 2019/20, featuring new furnishings, mechanical systems, appliances, paint, and carpeting. New windows were installed in Summer 2024. The 0.3-acre lot includes 25 dedicated parking spaces and 5 water meters with paid tap fees. The property benefits from tourist zoning, allowing for residential and commercial lodging, with permits for 40 hotel rooms. Oversized utilities and infrastructure are in place, and there are no historic renovation constraints. This turnkey operation offers significant potential for continued growth and profitability, either by maintaining the current successful model or by modifying the use and renovating the layout to maximize its potential. Located in the desirable mountain town of Crested Butte, known for its ski resort and recreational opportunities, this property is poised to benefit from the town's continued growth. The asking price is $5,500,000.