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    507 Red Lady Avenue , Majestic Plaza

    Crested Butte, CO 81224
    • $3,300,000
    • STATUS: Active
    • ON SITE: 146 days
    • MLS #: 777036
    UPDATED: 230 min ago
    $3,300,000
    • 0
      BEDS
    • 1.15
      ACRES
    • 0
      BATHS
    • 4
      1/2 BATHS
    • 6,889
      SQFT
    • $479
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1994
    County:

    School Ratings & Info

    Listing courtesy of Doug D'apuzzo, Independent Broker.


    Description

    Rare opportunity to own a turn key movie theater operation with real estate in downtown Crested Butte, or to redevelop the property to another use. Other potential uses for the property may include retail, office, residential, brewing/distilling, food service. Property is 6,889 rentable square feet (per architect). If the double height spaces in the three theater rooms were to be filled in with 2nd floors, the building would be approximately 9,679 rentable square feet. There are 142 off-street parking spaces for the use of Majestic Plaza owners, tenants, and guests, 60 of which are attributed to the Property. There are very few buildings of this size, and with this kind of off-street parking, anywhere in Crested Butte. Now vacant, for the past 25+ years the Property has operated as a first-run 3-screen movie theater with 300 total seats, and a concession area. There is also a 2nd floor office with a separate entrance (could be connected to theater). Previous tenant operated the fully automated, state-of-the-art digital theater with very small staff. Concession area had a liquor license. Digital projectors, automation system, digital server, and digital sound processor were updated 2013, and the seats were updated in 2017. All theater and concession equipment included in sale. Majestic Plaza Condominium is a mixed-use condominium containing 30 units on 50,000 SF (approx. 1.15 acres) of land occupying the south half Block 48 (Lots 17-32) in Crested Butte, Colorado. The Property for sale in this listing is Majestic Plaza Condominium Unit #110, which is a building with stand alone heating, utilities, and roof. The acreage and lot dimensions stated in this listing is for the entire Majestic Plaza Condominium and not for the Property alone.

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    The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
    FULL CREN Disclaimer

    Real Estate listings held by companies other than The Dawn Howe Group | Keller Williams Realty contain that company’s name.
    Fair Housing Disclaimer

    This data was last updated: 2021-05-06T23:56:27.26.
    www.crestedbutteliving.com/homes/112562188
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    507 Red Lady Avenue , Majestic Plaza Crested Butte, CO 81224

    • Price: $3,300,000
    • Status: Active
    • Updated: 230 min ago
    • MLS #: 777036
    0
    Beds
    0
    Baths
    4
    ½ Baths
    1.15
    Acres
    6,889
    SQFT
    $479
    $/SQFT
    1994
    Built
    Neighborhood:
    Crested Butte
    County:
    Gunnison
    Area:
    Crested Butte
    Property Description
    Rare opportunity to own a turn key movie theater operation with real estate in downtown Crested Butte, or to redevelop the property to another use. Other potential uses for the property may include retail, office, residential, brewing/distilling, food service. Property is 6,889 rentable square feet (per architect). If the double height spaces in the three theater rooms were to be filled in with 2nd floors, the building would be approximately 9,679 rentable square feet. There are 142 off-street parking spaces for the use of Majestic Plaza owners, tenants, and guests, 60 of which are attributed to the Property. There are very few buildings of this size, and with this kind of off-street parking, anywhere in Crested Butte. Now vacant, for the past 25+ years the Property has operated as a first-run 3-screen movie theater with 300 total seats, and a concession area. There is also a 2nd floor office with a separate entrance (could be connected to theater). Previous tenant operated the fully automated, state-of-the-art digital theater with very small staff. Concession area had a liquor license. Digital projectors, automation system, digital server, and digital sound processor were updated 2013, and the seats were updated in 2017. All theater and concession equipment included in sale. Majestic Plaza Condominium is a mixed-use condominium containing 30 units on 50,000 SF (approx. 1.15 acres) of land occupying the south half Block 48 (Lots 17-32) in Crested Butte, Colorado. The Property for sale in this listing is Majestic Plaza Condominium Unit #110, which is a building with stand alone heating, utilities, and roof. The acreage and lot dimensions stated in this listing is for the entire Majestic Plaza Condominium and not for the Property alone.
    Exterior Features

    Carport No Construction 1994 Lot Dimension 400X125 Property Attached Yes Stories 2 Street Description City/TownPaved Water Well No Waterfront YN No

    Interior Features

    Finished Sq Ft 6889 Furn Fixt Equip 3X Dig ProjSound Sys300 SeatsConcession Area One Quarter Baths 0 Total Offices 0

    Property Features

    Books Available No Cam Yes Covenants Yes Current Use General OfficeBarSpecial UseOtherMixed Use Disclosures CovenantsPlat AvailableSeller is Licensed Agent Exchange Trade No Fixtures Included Yes Inventory Included No Lease Included No Monthly Cam Charges 2076.25 Monthly Insurance Charges N/A New Construction YN No Oa Fees N/A Oa Fees Frequency Monthly Oa Name Majestic Plaza Condominium Hoa Owners Association Yes Possible Property Use Bar/LoungeGeneral OfficeOtherProfessional/MedicalRestaurantRetail StorefrontSpecial Use Railroad Siding Spur No Real Estate For Sale Yes Reo Lender Owned No Tax Year 2019 Total Taxes 13367.41 Type Multi-Use Variable Rate No Water Rights No

    The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
    FULL CREN Disclaimer

    Real Estate listings held by companies other than The Dawn Howe Group | Keller Williams Realty contain that company’s name.
    Fair Housing Disclaimer

    This data was last updated: 2021-05-06T23:56:27.26.
     
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    The Dawn Howe Group | Keller Williams Realty
    PO Box 2142
    Crested Butte CO, 81224
    Listing courtesy of Doug D'apuzzo, Independent Broker.