120 Broadway St Butte, MT 59701

The Grand Hotel, a stunning six-story mixed-use building at 120 W Broadway Street in Butte, Montana, presents a unique investment opportunity. This iconic 29,220 square foot property, situated on a 0.12-acre lot (5,140 square feet), boasts a rich history, having been built in 1917. Currently generating income from established tenants, including the Quarry Brewery on the lower level and the Derailed Bike Shop and a private event space on the ground floor, the building offers significant upside potential. Floors three through six are currently shell space, previously used as hotel rooms. A proposed plan outlines the conversion of these floors into twenty residential condo units – three two-bedroom/two-bathroom units, one two-bedroom/one-bathroom unit, and one studio unit per floor. This adaptive reuse project is primed for success, given the building's structural design and the high demand for residential units in the area. The property's location within a Qualified Opportunity Zone makes it eligible for Historic Tax Credits, further enhancing its investment appeal. The Uptown Butte location, within the URA District, provides additional incentives for revitalization projects. Adding to the value, a separate 2,091 square foot vacant lot on Broadway Street is included in the sale. A 2023 appraisal valued the entire property at $2,050,000, indicating immediate equity upon purchase at the asking price of $1,300,000.