314 Elk Ave
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314 Elk Ave
1,506 SF Retail Building Crested Butte, CO 81224 $2,850,000 ($1,892.43/SF)
INVESTMENT HIGHLIGHTS
- 30-year business with unique product offering
- Historic building with multiple uses since construction: post office (39 years), movie theater & roller rink
- Prime location in the commercial hub of the Last Great Colorado Ski Town
EXECUTIVE SUMMARY
Own a piece of Crested Butte history! 314 Elk offers the buyer a prime commercial location, a historically significant building and a successful turnkey retail business enjoyed by all ages for generations to come. PRIME LOCATION – 314 Elk is situated in the heart of the Town's "B-1" business district. This core commercial zone and the surrounding residential neighborhoods were designated on the National Register of Historic Places in 1974, which has protected the Town’s mining heritage and architectural charm. As a result, these 3-4 blocks of Elk Avenue have become the epicenter of commercial activity in the North Valley with an eclectic mix of shops, restaurants and bars. HISTORIC BUILDING – 314 Elk was constructed in 1900 and consists of 1,506 square feet in one story on a parcel 24.5 feet wide and 120 feet deep. The building reflects Crested Butte’s historic commercial construction: rectangular frame design, false front with bracketed cornice, drop siding, large display windows, double panel glazed doors, transoms and kickplates. The Property’s historic significance is enhanced by the variety of uses over time. Most notably, the Property served as the Town post office from 1925 to 1964. In addition, 314 Elk was the address of a hotel, a mortuary, a furniture store, a roller rink, a movie theater, a photography/book shop and now a chocolate confectionery. TURNKEY BUSINESS – 314 Elk is home to longtime Crested Butte favorite, the Rocky Mountain Chocolate Factory. The store is independently owned and operated by the Seller under a franchise agreement with the Durango-based Rocky Mountain Chocolate Factory, Inc (RMCF). RMCF supports 152 franchised locations (plus 2 owned stores) and was ranked in the Franchise 500 by Entrepreneur Magazine for 2024. RMCF was founded in 1981, began franchising in 1990 and went public in 1996 trading on the Nasdaq. RMCF generates approximately $30 million in annual sales and has a $20 million market capitalization. THE OFFERING – 314 Elk is offered for $2.85M including the building and business operations.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
1,506 SF
Building Class
C
Year Built/Renovated
1885/1975
Price
$2,850,000
Price Per SF
$1,892.43
Tenancy
Single
Building Height
1 Story
Building FAR
0.58
Lot Size
0.06 AC
Zoning
B1 Business District - Permitted uses include retail, office, financial institutions, medical, dental, personal services, clubs, theatres, shop crafts, rental/repair, museum
Frontage
25’ on Elk Avenue
AMENITIES
- Signage
Walk Score®
Very Walkable (72)
Bike Score®
Biker's Paradise (100)
PROPERTY TAXES
| Parcel Number | R030160 | Improvements Assessment | $120,910 |
| Land Assessment | $96,160 | Total Assessment | $217,070 |
PROPERTY TAXES
Parcel Number
R030160
Land Assessment
$96,160
Improvements Assessment
$120,910
Total Assessment
$217,070
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314 Elk Ave
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