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637 Idaho Street

Kalispell, MT 59901

JUST LISTED
$1,300,000
Commercial Sale Listing
3,532 SqFt

Summary

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 (<5 yrs old) 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)

Details

  • Type
    Building/Land
  • Approx Sq Feet
    3,532
  • Cooling
    Central Air,Ductless
  • Heating
    Ductless, Forced Air, Gas, Stove
  • Utilities
    Cable Available, Cable Connected, Electricity Connected, Natural Gas Available, Natural Gas Connected, High Speed Internet Available
  • Days on Market
    3
  • Listing Courtesy of
    Glacier Sotheby's International Realty Whitefish
  • MLS #
    30056965

Location

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ERA® and the ERA Logo are registered service marks owned by ERA Franchise Systems LLC. Robyn L. Erlenbush Real Estate, P.C. fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to ERA Franchise Systems LLC nor any of its affiliated companies. © 2019 Robyn L. Erlenbush Real Estate, P.C. All rights reserved.

 

All property data and market statistics are pulled from Big Sky Country MLS.

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