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Telephone Building 124 N 3rd St 7,378 SF Office Building Cripple Creek, CO 80813 $1,200,000 ($162.65/SF)
Investment Highlights
- Mixed-use building, in Cripple Creek’s Gaming District, featuring retail, office, and residential space with strong income potential.
- Includes basement shop and storage space, additional unfinished commercial suites, and a separate 0.34-acre parking lot for tenants.
- Newly remodeled building with 18-foot ceilings, three private offices, a conference room, a luxury apartment, and modern finishes throughout.
- Historic 1900 structure with preserved architectural character, radiant heat, easy Highway 67 access, and occupancy-ready space.
Executive Summary
Discover an exceptional investment opportunity in the heart of the Gaming Zone at 124 N 3rd Street, a newly remodeled mixed-use building offering unmatched versatility and upscale finishes. This property combines expansive retail and office space with premium residential units, creating a dynamic environment for both business and lifestyle. The main level features a large retail/office area with 18-foot ceilings, a conference room, and three private offices, all complemented by high-quality furniture and equipment. Additional basement storage/shop space adds functionality.
Upstairs, a luxurious apartment is fully completed and move-in ready, boasting top-of-the-line furniture and appliances. Additional residential options include a nearly finished apartment and a one-bedroom efficiency unit with a smart layout and modern finishes. The property also includes a large storage area with a separate entrance and a valuable surface parking lot (.34 acres) north of Carr Avenue, ensuring convenient off-street parking for tenants and visitors. The building was originally constructed around 1900 and retains significant architectural details typical of commercial properties of that era. Primary heat is radiant, but the piping has been routed to the original radiators, which helps retain the interior's historic character.
The heat source runs on propane, and the propane tanks are included. It could easily be converted to natural gas. There is a finished retail space with direct access from Third Street, and two other potential retail or shop spaces that are not finished. The property is being sold as is; buyer brokers are welcome, and compensation can be discussed in private.
124 N 3rd Street offers strong potential for income generation through retail, office, and residential leasing, supported by its prime location and recent renovations. Ideal for investors seeking a turnkey property with multiple revenue streams.
Upstairs, a luxurious apartment is fully completed and move-in ready, boasting top-of-the-line furniture and appliances. Additional residential options include a nearly finished apartment and a one-bedroom efficiency unit with a smart layout and modern finishes. The property also includes a large storage area with a separate entrance and a valuable surface parking lot (.34 acres) north of Carr Avenue, ensuring convenient off-street parking for tenants and visitors. The building was originally constructed around 1900 and retains significant architectural details typical of commercial properties of that era. Primary heat is radiant, but the piping has been routed to the original radiators, which helps retain the interior's historic character.
The heat source runs on propane, and the propane tanks are included. It could easily be converted to natural gas. There is a finished retail space with direct access from Third Street, and two other potential retail or shop spaces that are not finished. The property is being sold as is; buyer brokers are welcome, and compensation can be discussed in private.
124 N 3rd Street offers strong potential for income generation through retail, office, and residential leasing, supported by its prime location and recent renovations. Ideal for investors seeking a turnkey property with multiple revenue streams.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
7,378 SF
Building Class
C
Year Built/Renovated
1899/2023
Price
$1,200,000
Price Per SF
$162.65
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
2,459 SF
Building FAR
0.89
Lot Size
0.19 AC
Zoning
BUSINESS - BUSINESS HISTORIC FOR THE BUILDING, ALSO IN THE GAMING ZONE. PARKING LOT IS BUSINESS BUFFER HISTORIC
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Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Demographics
Demographics
1 mile
3 mile
5 mile
2020 Population
1,082
1,307
2,544
2025 Population
1,082
1,305
2,396
Population Growth '20-'25
0.0%
-0.2%
-5.8%
2020 Households
497
600
1,169
2025 Households
499
603
1,107
Household Growth '20-'25
0.4%
0.5%
-5.3%
Average Age
47
47
48
Median Household Income
$49,152
$49,419
$57,837
Daytime Employees
1,973
2,525
2,815
Total Businesses
118
163
220
College Degree + Higher
19%
19%
21%
Property Taxes
| Parcel Number | R0000480 | Total Assessment | $25,781 (2025) |
| Land Assessment | $23,132 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,649 (2025) | Tax Year | 2023 Payable 2024 |
Property Taxes
Parcel Number
R0000480
Land Assessment
$23,132 (2025)
Improvements Assessment
$2,649 (2025)
Total Assessment
$25,781 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023 Payable 2024
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Contact the Sale Advisor
Telephone Building | 124 N 3rd St