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Property profile & analytics
OFF-MARKET
Estimated value
$2,080,000
Office buildings
211 Elk Ave Crested Butte, CO 81224-9608
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US13-1407964
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Total area
4,000 SF
Lot
0.06 ac (2,614 SF)
APN
325503136013
UPID
US13-1407964
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Maggie Dethloff | Crested Butte, Colorado | Bluebird Real Estate | 2023 GCAR Realtor of the Year Real Estate Agency
-
Bluebird Real Estate Real Estate Agency
-
Jana Barrett | Top Real Estate Agent | Crested Butte, Colorado | Real Estate Agency
-
The Bona Team Real Estate Agency
-
Trevor Bona | Discover Crested Butte Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.42M
Blend (final)
Blend
$2.08M
Owner & transaction history
Wbb Re LLC · 9 yrs held
Wbb Re LLC
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.5M
+47.5%
Commercial (general)
$2.0M
+19.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Crested Butte submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Crested Butte submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,670,000
Current use
RETAIL STORES
$2,465,000
Change: +48% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,990,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$2.08M
Range $1.87M – $2.29M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$520 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$37,730
Tax year 2023
Assessed value
$550,220
Assessed 2023
Previous assessed
$395,900
+39.0% YoY
Effective rate
6.86%
On assessed value
Assessed land
$101,720
Assessed improvement
$448,500
Land market value
$364,580
Improvement market value
$1,637,520
Total market value
$2,002,100
Applied tax rate
200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1999
Heating
NONE
Stories
2
Total area
4,000 SF
Lot
0.06 ac (2,614 SF)
APN
325503136013
UPID
US13-1407964
Jurisdiction
GUNNISON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.0M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Heating
NONE
Stories
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Wbb Re LLC
Entity
Mailing address
PO BOX 1788, CRESTED BUTTE, CO 81224-1788
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2020
—
Wbb Re LLC
—
Deed
related
$935,000 · Inwood National Bank
Apr 26, 2017
$1,250,000
Wbb Re LLC
Elk Investments L L C
Warranty Deed
$937,500 · Elk Investments L L C
Sep 7, 2006
—
Robert Ernest Geier
Elk Investments LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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