970.349.6653 \\ 401 Elk Avenue, Crested Butte


507 Red Lady, Crested Butte, CO 81224

Active
$3,300,000

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.

MLS#: 777036
Unit Majestic Plaza Unit 110 |
1.15 ACRES
YEAR BUILT: 1994
TAXES: $13,367.41

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Listing courtesy of Doug D'apuzzo
Doug D'apuzzo, Independent Broker

ZONING
T, Pud

REALESTATE INCLUDED
Yes

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Data last updated on: March 06, 2021

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