The Roscoe Portfolio
The Roscoe Portfolio is a package of 15 retail, office, and residential condominium units totaling 20,193 rentable square feet within the Majestic Plaza Condominium in Crested Butte, CO. The aggregate of the properties in Roscoe Portfolio represents a 52.86% interest in the Majestic Plaza Condominium HOA.
Majestic Plaza Condominium
Majestic Plaza Condominium is a mixed-use condominium association 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 Majestic Plaza is anchored by the town's only movie theater, and also by one of the Crested Butte’s two US Post Office locations. Within the block (but not part of Majestic Plaza) is the town’s only grocery store, a coffee shop, and a yoga studio. There is a local bus stop on the block which provides free service throughout Crested Butte and to the ski area in Mt. Crested Butte, and via transfer to Gunnison.
Majestic Plaza occupies a strategic location at the gateway to Crested Butte. All traffic that flows from Gunnison into Crested Butte must pass by Majestic Plaza.
Majestic Plaza offers unobstructed views of Crested Butte Mountain and the surrounding peaks.
Building construction varies. Construction methods and materials include: CMU, poured concrete over corrugated metal decking, metal bar joists, wooden joists, slab on grade, concrete spread footings, concrete foundation wall, timber post and beam, dimensional lumber framing, metal stud framing, wood siding, insulated membrane flat roofs with roof drains. All buildings are 2 story with stairs.
The buildings in Majestic Plaza were built in from 1981 to 1997. Roscoe Development Corp. was the original developer of 507, 509/511, and 525 Red Lady and did a gut remodel on 717 Sixth in 1994. The Roscoe Portfolio properties have always been professionally managed.
The buildings were professionally designed by local architects who understand the extreme snow and weather that is common in the Colorado mountains.
The Seller has enjoyed uncommonly low vacancy of the Roscoe Portfolio throughout its ownership. Currently, the only vacancy is one 2nd floor office space recently converted from a video arcade (shown below).
Condominium Units in Portfolio
The Roscoe Portfolio consists of 15 condominium units in the Majestic Plaza Condominium located in four buildings situated in Block 48, Lots 17-32, Crested Butte, Colorado as follows:
507 Red Lady Avenue
- Majestic Plaza Unit 110, Retail / Office, 6,889 RSF, Built 1994
(Unit 110 contains two separate rentable units. See more info on Investment page)
509 / 511 Red Lady Avenue
- Majestic Plaza Unit 120, Retail, 1,492 SF, Built 1994
- Majestic Plaza Unit 121, Retail, 1,393 SF, Built 1994
- Majestic Plaza Unit 220, Retail, 593 SF, Built 1994
- Majestic Plaza Unit 221, Retail, 939 SF, Built 1994
- Majestic Plaza Unit 222, Retail, 991 SF, Built 1994
- Majestic Plaza Unit 223, Retail, 759 SF, Built 1994
525 Red Lady Avenue
- Majestic Plaza Unit 241, Residential, 900 SF, Built 1997
- Majestic Plaza Unit 242, Residential, 1,021 SF, Built 1997
- Majestic Plaza Unit 243, Residential, 976 SF, Built 1997
- Majestic Plaza Unit 244, Residential, 1,035 SF, Built 1997
- Majestic Plaza Unit 245, Residential, 892 SF, Built 1997
- Majestic Plaza Unit 246, Residential, 1,031 SF, Built 1997
717 Sixth Street
- Majestic Plaza Unit A, Retail, 799 SF, Built 1981, Renovated 1994
- Majestic Plaza Unit B, Retail, 483 SF, Built 1981, Renovated 1994