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507 Red Lady Avenue , Majestic Plaza

Crested Butte, CO 81224
  • $3,300,000
  • STATUS: Active
  • ON SITE: 312 Days
  • MLS #: 777036
UPDATED: 62 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, 52 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 Berkshire Hathaway HomeServices Western Colorado Properties contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-10-20T14:56:28.43.
www.homesforsaledurango.com/homes/112562188
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507 Red Lady Avenue , Majestic Plaza Crested Butte, CO 81224

  • Price: $3,300,000
  • Status: Active
  • Updated: 62 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, 52 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 BarGeneral OfficeMixed UseOtherSpecial 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 Berkshire Hathaway HomeServices Western Colorado Properties contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-10-20T14:56:28.43.
 
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Berkshire Hathaway HomeServices Western Colorado Properties
842 Main Ave
Durango CO, 81301
Listing courtesy of Doug D'apuzzo, Independent Broker.