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Kalispell,MT 59901
Key Details
Property Type Commercial
Sub Type Building/Land
Listing Status Active
Purchase Type For Sale
Square Footage 3,532 sqft
Price per Sqft $368
MLS Listing ID 30056965
Construction Status Updated/Remodeled,See Remarks
HOA Y/N No
Annual Tax Amount $7,883
Tax Year 2024
Lot Size 0.490 Acres
Acres 0.49
Property Sub-Type Building/Land
Property Description
• Current Cap Rate: ~6.54% • Value-add potential with lease escalations / bumping rents on shop and residential unit Booming Downtown Kalispell!!! Steps to the Parkline Trail and soon to be redeveloped mall. This well-located, high traffic countn(22k APD per MDT), fully-leased mixed-use property offers stable cash flow with upside. Combining commercial and residential income, plus billboard lease revenue, it's a turnkey investment with potential for increased yield through strategic improvements or rent increases.
Ownership has spent $450k+ in last 12 months on complete remodel/ upgrades.
• Complete interior and site remodel with full change of use.
• New roof (• New HVAC systems and plumbing throughout.
• Two new ADA bathrooms, and 2 showers.
• Updated 1BR/1BA apartment.
• New site work including fresh asphalt (front and rear) and 6 added parking spaces. (18 total)
• New front concrete sidewalk/ ADA parking/ entrance and approach. • New curbing and wonderful landscaping, fully irrigated.
• New fencing, in front and rear.• Opened up back exit for parking via city alley for better traffic flow.
• Large, level backyard with mature trees and grass.
Investment Highlights
• Stable tenant roster with long-term leases.
• Triple income streams from commercial (NNN & gross) and residential.
• Billboard income adds $2,200 annually.
• High-traffic / visibility location along E Idaho St / Highway 2. (approx 24k/day)
• Perfect re-development site in future, open lot to West and small lot to East – could negotiate with other owners to combined for larger development.
• Lot size ~0.49 acres with paved parking and mature fenced yard.
• Zoned B-2 General Business / commercial flex – Ideal for eventual mixed-use redevelopment.
• Remodeled Back apartment with in-unit laundry, fenced yard & old-growth trees.
• Garage bays & overhead doors in the shop as well as main building (2 and 2)
• Clear frontage & excellent visibility for tenants and marketing
Financial Snapshot
• Net Income: ~$85,000/ yr
• Current Cap Rate: ~6.54%
• Value-add potential with lease escalations / bumping rents on shop and residential unit
(Garage to be painted in the next few weeks)
Location
State MT
County Flathead
Community Curbs,Street Lights,Sidewalks
Zoning Commercial
Interior
Interior Features InteriorFeatures
Heating Ductless,Forced Air,Gas,Stove
Cooling Central Air,Ductless
Fireplace No
Exterior
Community Features Curbs,Street Lights,Sidewalks
Utilities Available Cable Available,Cable Connected,Electricity Connected,Natural Gas Available,Natural Gas Connected,High Speed Internet Available
Water Access Desc Public
Roof Type Metal,Other
Present Use Mixed Use,See Remarks
Road Frontage City Street,Highway
Garage No
Building
Foundation Slab,Basement
Sewer Public Sewer
Water Public
Construction Status Updated/Remodeled,See Remarks
Others
Tax ID 07396608203110000
Special Listing Condition Standard