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Listing Courtesy of: Heather Featherman - Signature Properties Ebner & Associates, LLC

$5,500,000

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615 TEOCALLI Avenue Crested Butte, CO 81224

Mixed Use Residence

Beds

5 Baths

8,271 Sq. Ft.

0.3 Acre Lot

Property Activity

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Last updated on 11/28/2024 7:44 AM

Listing Details

Commercial business opportunity in coveted downtown Crested Butte! Currently run as the Crested Butte Hostel and business is booming! Originally purchased for future hotel development, The Hostel re-opened with all new furnishings, mechanical systems, appliances paint and carpeting in winter of 19/2...0. New windows installed throughout the building summer 2024. The property has several unique features: -Tourist zoning with residential and commercial lodging allowed -Permitted commercial hotel rooms for 40 pillows -25 dedicated parking spaces -5 water meters with paid tap fees -Oversized utilities and infrastructure -No Historic constraints on renovation -Turnkey cash flow Operation The hostel is currently providing lodging and laundry services and a quiet clean space to work, read or play to many out of town guests. The Hostel consists of 13 double occupancy rooms and 2 - two bedroom apartments, a full service laundromat, (all new washers(11) and dryers(12)), a full commercial kitchen with a long term lease and a communal guest kitchen. This property is an investorâ??s dream with the potential to modify use and renovate the current layout, or operate as is with a positive cash flow. Continue reading

MLS#

819028

Property Type

Mixed Use

Bathrooms

5 Full

Year Built

1997

Square Feet

8,271 sq. ft

Price per Sq. Ft.

$664.97