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240 Buttermilk Lane
Aspen, CO 81611
FOR SALE · Active
$5,500,000
4.50
Acres
MLS# 191421
Cumulative Days on Market: 277 · Includes prior listings · Currently listed since 01/23/26 · Data provided by the MLS.

Property Description

One of Aspen's last remaining ski-in / ski-out estate opportunities, this exceptional 4.5-acre parcel is situated on the lower slopes of Buttermilk Mountain, offering a rare opportunity to create a significant new residence in a highly accessible Aspen location.

Far more than a vacant parcel, the property is now well into the planning and design process. The ownership team has engaged F and M Architects of Snowmass Village, an accomplished local architecture firm recognized for its thoughtful, site-responsive residential work throughout the Aspen area, together with an experienced team of civil engineers, landscape designers, land planners, and other consultants. The result is a comprehensive, site-specific development plan created expressly for this property.

The current design contemplates a residence of up to 5, 750 square feet, with the potential for up to 8, 250 square feet through the addition of a Transferable Development Right (TDR). Site Plan Review and Activity Envelope applications are scheduled for submission to Pitkin County in August 2026, with approvals anticipated in summer 2027 and a building permit targeted for January 2028.

For a buyer who wants to build rather than begin the lengthy planning process from scratch, this represents a compelling window of opportunity: acquire the land now and step into an established design and entitlement process with an experienced professional team already in place. The plans have been developed specifically for the site and can provide the foundation for taking the property through approvals and into construction.

As ownership continues to advance the project through entitlements, permitting, and ultimately construction, the offering is expected to transition from vacant land to a fully developed residential project, with pricing adjusted accordingly.

Ideally positioned between Aspen and Snowmass, the property offers ski-in / ski-out access on Buttermilk and convenient proximity to Aspen Highlands, Aspen Mountain, Snowmass Ski Area, and the amenities of Aspen.

An opportunity to buy into the vision today--before the vision becomes the finished home.

Buyer to independently verify all development potential, approvals, timelines, plans, and TDR requirements to their satisfaction.

Property Highlights

Property Type
RES Vacant Land
Property Sub Type
Single Family Lot
Acres
4.50
Cumulative Days on Market
277

Location

Area
Aspen
City/Township
Aspen
Subdivision
Buttermilk
County
Pitkin
Zoning
AR-10

Property Details

Price
$5,500,000
Property Type
RES Vacant Land
Property Sub Type
Single Family Lot

Terms

Terms

Cumulative Days on Market
277

Taxes

Tax

Tax (Annual)
$38,610.80

Heating, Cooling & Utilities

Utilities

Water Source
Community

Lot

Acres
4.50
Lot Size
4.50
Lot Size Area Sq Ft
182,952
Listed by Aspen Snowmass Sotheby's International Realty - Hyman Mall
Listing Data last updated 10/25/2026 03:00 am
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Property History

Today
Property information last updated
274 days ago
Status Active. This is the date the listing was placed on market.
Cumulative Days on Market: 277 days (includes prior listings) · Currently listed since January 23, 2026. Data provided by the MLS.