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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Retail space
501 Elk Ave Crested Butte, CO 81224-5433
Entity Owned
5-yr Hold
Free & Clear
Property ID
US13-1403510
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1885
Total area
4,610 SF
Lot
0.24 ac (10,500 SF)
APN
325503112006
UPID
US13-1403510
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
-
Your Cup Restaurant Cafe & Coffee Shop
-
A Crested Butte Spa & Nail Salon Spa & Massage Center
-
Calico Queen Tattoo Tattoo & Piercing Shop
-
Velveteen MediSpa Medical Clinic Skin Care Clinic
-
Nail Room Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.99M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$1.90M
Owner & transaction history
501 Elk Ave LLC · 5 yrs held
501 Elk Ave LLC
since 2021
Last sale
$1.9M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,880,000
ML approach
$1,985,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,840,000
Current use
COMMERCIAL (GENERAL)
$2,295,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $1.85M (Feb 5 2021)
Last sale anchor
$1.85M
Feb 5 2021
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
$412 / 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
$33,056
Tax year 2023
Assessed value
$482,060
Assessed 2023
Previous assessed
$348,310
+38.4% YoY
Effective rate
6.86%
On assessed value
Assessed land
$290,020
Assessed improvement
$192,040
Land market value
$1,039,500
Improvement market value
$718,300
Total market value
$1,757,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1885
Heating
NONE
Stories
1
Total area
4,610 SF
Lot
0.24 ac (10,500 SF)
APN
325503112006
UPID
US13-1403510
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
RETAIL STORES Current
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.3M
RETAIL STORES Current
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
1885
Heating
NONE
Stories
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
501 Elk Ave LLC
Entity
Free & Clear · 5 yrs held
Mailing address
227 W MONROE ST STE #5000, CHICAGO, IL 60606-5087
Ownership since
2021
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
Feb 5, 2021
$1,850,000
501 Elk Ave LLC
Gunnison Savings & Loan Association
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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