Description
Remarks: Investors, look no further! This property is a conglomerate of commercial condos spread over 18,000 sqft in the historic Palace Hotel, located in the heart of Downtown Missoula. Condos are 100% rented to four different tenants with an annual gross income of $324,000 and a net cap rate of over 8%. The main floor is roughly 11,000 sqft and is home to a Hair Salon, Cannabis Store, Commercial Kitchen, Casino, and a 600 person music venue and whiskey bar. The basement condos is roughly 7,000 sqft and is occupied with a Pool Hall, and off premise Alcohol Catering Business. The structure of the Palace Hotel building is shared with Missoula Housing Authority. Both MHA and Bavarian are in a condo association that shares the buildings expenses and maintenance.
-
0BEDS
-
0.35ACRES
-
0BATHS
-
01/2 BATHS
-
18,163SQFT
-
$193$/SQFT
School Ratings & Info
Description
Remarks: Investors, look no further! This property is a conglomerate of commercial condos spread over 18,000 sqft in the historic Palace Hotel, located in the heart of Downtown Missoula. Condos are 100% rented to four different tenants with an annual gross income of $324,000 and a net cap rate of over 8%. The main floor is roughly 11,000 sqft and is home to a Hair Salon, Cannabis Store, Commercial Kitchen, Casino, and a 600 person music venue and whiskey bar. The basement condos is roughly 7,000 sqft and is occupied with a Pool Hall, and off premise Alcohol Catering Business. The structure of the Palace Hotel building is shared with Missoula Housing Authority. Both MHA and Bavarian are in a condo association that shares the buildings expenses and maintenance.
© 2023 Montana Regional MLS. Information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed and should be independently verified. Data last updated: 2023-03-22T00:18:50.35.
