309 Main StLewistown, MT 59457

Property Details for 309 Main St

Year built

1913

Construction

WOOD

Lot size

0.04 AC

Property size (Sq ft)

5,720 SF

Zone code

6

Property type

Retail space

APN

08-2467-15-1-16-07-0000

APU

8246715116070000

Description

This stunning 7,200 square foot building, designed by Link & Haire in 1913 and meticulously updated since 2006, presents a unique investment opportunity in the heart of Lewistown, Montana. Situated on a 0.04-acre lot at 309 W Main Street, this historical gem boasts beautiful hardwood floors, original trim and doors, and modern amenities including a new roof and boiler. The building's street-level retail space has housed a thriving beauty salon for years, providing a proven track record of success. The second floor, previously used as medical offices and more recently as general office space, offers 1,800 square feet currently available for lease. A residential rental unit with two bedrooms and two bathrooms occupies the top floor, generating consistent rental income. The building features updated plumbing, electrical systems, and a new fire alarm system. Currently generating $2,130 per month in rental income from the first and third floors, this property offers significant potential for increased revenue through strategic leasing of the vacant second floor. Detailed rental history and expense records are available upon request. All showings require prior arrangement. Please respect the privacy of current tenants and refrain from disturbing them. This is a rare chance to acquire a historically significant, income-producing property in a desirable downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,544,638

  6.5%

  $1,425,819

  7%

  $1,323,975

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,073,294

  Geo Method

  $3,073,294

• Alternative Use

  Use

  Valuation

  Residential

  $1,202,732

  Hospitality

  $1,101,696

  Educational

  $916,598

  Medical

  $948,121

  Retail

  $1,425,819

Location Insight

City

Lewistown

County

Fergus

State

Montana

Latitude

47.065

Longitude

-109.426

Property Tax & Assessments

FAQs

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