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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Office buildings
401 Elk Ave Crested Butte, CO 81224-5434
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US13-1375720
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1997
Total area
3,012 SF
Lot
0.17 ac (7,563 SF)
APN
325503111008
UPID
US13-1375720
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
-
Crested Butte Collection - Kiley Flint Real Estate Agency
-
Crested Butte Real Estate Broker | Kiley Flint of Crested Butte Sotheby's Real Estate Agency
-
Cassie Gates LIV Sotheby's International Realty | Crested Butte & Gunnison Valley Luxury Real Estate Specialist Real Estate Agency
-
Gary Huresky, REALTOR Real Estate Agency
-
Nikki Pulitzer Crested Butte Realtor Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.70M
Blend (final)
Blend
$1.50M
Owner & transaction history
401 Elk Avenue LLC · 13 yrs held
401 Elk Avenue LLC
since 2012
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+47.5%
Commercial (general)
$1.5M
+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
$1,255,000
Current use
RETAIL STORES
$1,855,000
Change: +48% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,500,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±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
$498 / 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
$23,930
Tax year 2023
Assessed value
$348,970
Assessed 2023
Previous assessed
$274,490
+27.1% YoY
Effective rate
6.86%
On assessed value
Assessed land
$208,880
Assessed improvement
$140,090
Land market value
$748,690
Improvement market value
$532,100
Total market value
$1,280,790
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
1997
Heating
NONE
Stories
1
Total area
3,012 SF
Lot
0.17 ac (7,563 SF)
APN
325503111008
UPID
US13-1375720
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
$1.3M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.5M
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
1997
Heating
NONE
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
401 Elk Avenue LLC
Entity
Mailing address
PO BOX 210, CRESTED BUTTE, CO 81224-0210
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2012
$1,095,000
401 Elk Avenue LLC
James F Gebhart Family Trust
Warranty Deed
$821,250 · Bank Of The West
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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