EXPERIENCE

OUR

MOUNTAIN LIFESTYLE

Commercial real estate portfolio

in downtown Crested Butte.

COMMERCIAL REAL ESTATE PORTFOLIO

The Roscoe Portfolio is comprised of 15 retail, office and residential units totaling 20,193 rentable square feet within the Majestic Plaza Condominium in Crested Butte, CO.  The Roscoe Portfolio holds a controlling interest in the Majestic Plaza Condominium HOA. The Roscoe Portfolio contains a diversified tenant mix and well-designed investment grade real estate in a dynamic resort market with a stable cash flow and significant upside potential.

Highlights:

  • Vail Resorts.  Vail Resorts purchased of the Crested Butte ski area in September 2018, making Crested Butte Vail's fifth Colorado ski resort along with Beaver Creek, Breckenridge and Keystone.  Accordingly, Crested Butte is part of Vail's Epic Pass, which includes access to Vail's vast network of ski areas around the world. 

  • Strong rental history with diverse mix of quality long-term tenants. The property has a strong rental history to a diverse mix of quality tenants including retail, office, medical, and residential use.  More than 80% or our valued commercial tenants have been in the property for over a decade.  

  • Prime, highly visible location. The property is highly visible at the gateway to Crested Butte.  All traffic coming into Crested Butte must pass by Majestic Plaza.

  • Three anchors.  The property is anchored by three tenants:  Crested Butte’s only grocery store, the town's only movie theater, and one of the town's two US Post Office locations.

  • Professionally managed, single ownership.  The has always been professionally managed.

  • Controlling interest in HOA.  The entire Roscoe Portfolio represents a controlling interest in the Majestic Plaza HOA.

  • Significant upside potential.  Most of the commercial leases were originally based on the condominium square footage.  The property has since been re-measured by an AIA architect to determine Rentable Square Feet.   Significant upside potential can be captured by basing new and renewing leases on Rentable SF vs. Condo SF.

  • Flexible Condominium Ownership Structure.  Totaling 20,193 rentable sq. ft., the 15 separate condominium units can be sold individually if desired. 

  • Excellent parking.  Parking is available on three sides of the property, and owners and their guests have deeded access to the main parking lot contiguous to the property to the north.  Parking ratio 3.15 per 1,000 SF (condominium).

  • Situated on highly traveled free local bus route.  The Mountain Express carries locals and tourists between Crested Butte, Mt. Crested Butte, and Gunnison.

  • Outstanding views of Crested Butte Mountain.  Majestic Plaza offers magnificent views of Crested Butte Mountain and the surrounding peaks.

  • Significant barriers to entry.  The Town of Crested Butte's policies against growth would make it prohibitively expensive to build a competing property.

  • Strong Colorado economy.  According to an August 2018 article published by financial news outlet 24/7 Wall Street, Colorado was found to have the #1 best economy in the United States for the second year in a row, and an August 2018 report released by University of Colorado LEEDS School of Business projects the Colorado state economy to grow much faster than anticipated, adding thousands more jobs than expected.

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Commercial

Core 

​509/511 (on left) and 507 Red Lady Ave

  • Unit 110:  Movie Theater

  • Unit 120:  Dental Office

  • Unit 121:  US Post Office

  • Units 220-223:  2nd Floor Offices

Strong mix of local office, medical, and retail tenants and a federal government tenant, all with multi-year leases.​

  • Gross Building Area in Portfolio: 13,056

Residential

Apartments

​525 Red Lady Ave

  • Units 241 - 246

Six spacious one bedroom, one bath rental apartments on 2nd floor with reserved parking.  Local rental housing demand is extremely strong.

  • Gross Building Area in Portfolio:  5,855

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Prime Retail.jpg

Prime

Retail

​717 Sixth St.

  • Unit A: Florist

  • Unit B: Home Electronics

Prime retail space with highly visible frontage on high traffic parking lot with multi-year leases to solid local tenants.

  • Gross Building Area in Portfolio:  1,282