637 Idaho Street$1,300,000
Kalispell, MT
3532.00 SF, 0.49 ACRE
$1,300,000
Property Details
BIG PICTURE
Commercial
3532.00
FT2
0.49
ACRE
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 (<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)PRICE
$1,300,000
FEATURES
- MLS #: 30056965
- Lot: 21,344.40 sqft
- Commercial
- Cooling: Central Air, Ductless
- Heating: Ductless, Forced Air, Gas, Stove
- Price/sqft: $368.06
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