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    Property profile & analytics

    501 Elk Ave Crested Butte, CO 81224-5433

    • Retail space
    • 4,610 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimation
    $1,895,000
    Last Sale
    Feb 05, 2021
    $1,850,000
    Location Intelligence
    Property ID
    US13-1403510
    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

    • Your Cup / Tea House
    • A Crested Butte Spa & Nail Salon / Spa / Nail Salon
    • Calico Queen Tattoo / Body Piercing Shop / Tattoo Shop
    • Velveteen MediSpa / Nail Salon / Skin Care Clinic
    • Nail Room / Nail Salon

    Property Details for 501 Elk Ave

    Year built
    1885
    Lot size
    0.24 lot acres
    Property size
    4,610 SF
    Property type
    Retail space
    APN
    325503112006
    APU
    325503112006

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,880,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,875,000
      6.5%
      $1,775,000
      7%
      $1,820,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,050,000
      Geo Method
      $1,735,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,090,000
      Retail
      $1,965,000
      Mixed-Use
      $2,215,000
      Hospitality
      $1,975,000
      Educational
      $2,010,000
      Residential Income
      $1,875,000
      Energy
      $2,085,000
      Income-Based Land
      $1,870,000
      Food Service
      $2,160,000

    Location Insight

    • Map
    • Local Demand
    City
    Crested Butte
    County
    Gunnison
    State
    Colorado
    Longitude
    -106.982
    Latitude
    38.87

    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
    $33,056
    $290,020
    $192,040
    $482,060
    -
    $1,039,500
    $718,300
    $1,757,800

    Comparable in this City

    • Value Estimation by Request
      3,668 SF

      321 Elk Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,668 SF
      321 Elk Ave, Crested Butte, CO 81224
      View Details
    • Value Estimation
      $380,000
      590 SF

      510 Elk Ave, Unit 3

      RETAIL STORES (PERSONAL SERVICES) • 590 SF
      510 Elk Ave, Crested Butte, CO 81224-5433
      View Details
    • Value Estimation
      $160,000
      370 SF

      523 Riverland Dr, Unit 2B

      RETAIL STORES (PERSONAL SERVICES) • 370 SF
      523 Riverland Dr, Crested Butte, CO 81224-9835
      View Details
    • Value Estimation
      $480,000
      689 SF

      717 6th Sta

      RETAIL STORES (PERSONAL SERVICES) • 689 SF
      717 6th Sta, Crested Butte, CO 81224-5673
      View Details
    • Value Estimation
      $695,000
      5,964 SF

      201 Elk Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,964 SF
      201 Elk Ave, Crested Butte, CO 81224-9608
      View Details
    • Value Estimation
      $1,110,000
      6,780 SF

      318 Elk Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,780 SF
      318 Elk Ave, Crested Butte, CO 81224-5450
      View Details

    Similar Nearby for Sale

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      $1,350,000
      2,099 SF

      Mixed-Use Property in Crested Butte

      Multi-use property with retail and residential space in prime location.
      428 Elk Ave, Crested Butte, CO 81224
      View Details
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      437 SF

      Crested Butte Storefront - $400K

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      717 6 St, Crested Butte, CO 81224
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      564 SF

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      564 SF retail/commercial unit in the heart of Crested Butte.
      309 Belleview - #1-A, Crested Butte, CO 81224
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    • $530,000
      573 SF

      Retail Unit in Prime Location

      573 SF retail unit in the heart of Crested Butte.
      309 Belleview - #1-B, Crested Butte, CO 81224
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    • $697,000
      820 SF

      Crested Butte Retail/Office Unit

      820 SF retail/commercial unit in the heart of Crested Butte.
      309 Belleview - #1-C, Crested Butte, CO 81224
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    • $489,000
      4,000 SF

      Established Event Rental Business Opportunity

      Event rental company serving the Gunnison Valley for sale.
      80 Buckley Dr, Crested Butte, CO 81224
      View Details
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    Crested Butte, CO 81224-5433
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    Realmo Value Estimation

    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.

    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.

    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
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