Add Listing
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    412 Elk Ave Crested Butte, CO 81224-5434

    • Medical offices
    • 1,035 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-1397709
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Cedar and Sage Integrative Medicine / Alternative Medicine Practice / Spa & Massage Center
    • Cedar & Sage / Alternative Medicine Practice / Spa & Massage Center
    • Mr. Michael Faktor / Dental Office
    • Chelsea Stangl / Dental Office
    • Axis Health System - Crested Butte / Medical Clinic

    Property Details for 412 Elk Ave

    Year built
    1890
    Lot size
    0.14 lot acres
    Property size
    1,035 SF
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    325503176005
    APU
    325503176005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Crested Butte
    County
    Gunnison
    State
    Colorado
    Longitude
    -106.984
    Latitude
    38.8695

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $16,085
    $101,840
    $132,730
    $234,570
    -
    $594,000
    $1,192,370
    $1,786,370

    Comparable in this City

    • Value Estimation by Request
      1,962 SF

      525 Red Lady Ave, Unit 142

      DENTAL BUILDING • 1,962 SF
      525 Red Lady Ave, Crested Butte, CO 81224-9896
      View Details
    • Value Estimation
      $920,000
      4,552 SF

      326 Belleview

      OFFICE BUILDING • 4,552 SF
      326 Belleview, Crested Butte, CO 81224-8706
      View Details
    • Value Estimation by Request
      142 SF

      123 Elk Ave, Unit 4

      OFFICE BUILDING • 142 SF
      123 Elk Ave, Crested Butte, CO 81224
      View Details
    • Value Estimation by Request
      224 SF

      120 Elk Ave, Unit 6

      OFFICE BUILDING • 224 SF
      120 Elk Ave, Crested Butte, CO 81224-5008
      View Details
    • Value Estimation by Request
      457 SF

      315 Belleview Avef

      OFFICE BUILDING • 457 SF
      315 Belleview Avef, Crested Butte, CO 81224-8706
      View Details
    • Value Estimation by Request
      562 SF

      241 Gillaspey Ave, Unit C2

      OFFICE BUILDING • 562 SF
      241 Gillaspey Ave, Crested Butte, CO 81224-9617
      View Details

    Similar Nearby for Sale

    • $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
    • $450,000

      Buckhorn Ranch Runway Access Parcel

      Commercial parcel with runway access and residential use potential.
      136 N Avion Dr, 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
    • $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
    • $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
    • $599,000
      1.10 Acres

      Crested Butte Homesite Opportunity

      1.1-acre homesite near downtown Crested Butte and outdoor recreation.
      389 Meadow Dr, Crested Butte, CO 81224
      View Details
    Request Owner's contact information
    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.
    412 Elk Ave
    Crested Butte, CO 81224-5434
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!