101 Central AveGreat Falls, MT 59401

  • Office properties
  • 15,000 SF
For Sale
$595,000 View listing

Property Details for 101 Central Ave

Year built
1895
Construction
WOOD
Lot size
0.17 AC
Property size (Sq ft)
15,000 SF
Property type
Office properties
Property subtype
Office buildings
APN
02-3015-12-2-18-01-0000
APU
2301512218010000

Description

This exceptional Class A commercial property, located at 101 Central Avenue in Great Falls, Montana, presents a unique investment opportunity. Originally constructed in 1890 as a bank, this two-story building boasts 15,000 square feet of space and features several intact vaults. Substantially renovated in 1954, the building, formerly known as the Montana Power Building, is situated on a 0.17-acre lot and benefits from four distinct street addresses with individual access points. The ground floor is easily divisible into four separate commercial units, ideal for retail or office tenants. The second floor offers ample space for the development of approximately seven sizable apartments. This prime location within Great Falls' Central Business Historic District offers significant advantages, including its designation within an Opportunity Zone, Tax Increment Financing (TIF) District, and Business Improvement District (BID). All major utilities are connected, including electricity, natural gas, sewer, water, cable, and internet. The permitted zoning is commercial, allowing for diverse uses. The property is offered fee simple and is currently vacant, providing immediate occupancy for a new owner. This building has been highlighted in the Great Falls Downtown Visioning project as a key development opportunity.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,755,647
    6.5%
    $2,543,674
    7%
    $2,361,983
  • Comparable approach

    Method
    Valuation
    Relative Method
    $3,198,150
    Geo Method
    $3,198,150
  • Alternative Use

    Use
    Valuation
    Residential
    $3,154,156
    Hospitality
    $2,889,190
    Educational
    $2,403,772
    Medical
    $2,486,442
    Retail
    $3,739,201
101 Central Ave, Great Falls, Montana

Location Insight

City
Great Falls
County
Cascade
State
Montana
Latitude
47.5057
Longitude
-111.306
CBSA code
24500
CBSA name
GREAT FALLS, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$5,575
-
-
$296,300
-
$77,250
$219,050
$296,300

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