1518 Prospect AveHelena, MT 59601

Property Details for 1518 Prospect Ave

Year built

1973

Construction

STEEL FRAME

Lot size

0.42 AC

Property size (Sq ft)

5,940 SF

Property type

Retail properties

Property subtype

Retail space

APN

05-1888-29-3-25-10-0000

APU

5188829325100000

Description

This exceptional commercial property, located at 1518 Prospect Ave in Helena, Montana, offers 11,880 square feet of versatile space ideal for a variety of businesses. The building, constructed in 1973 and extensively renovated in 2020, boasts a Class B designation and features a two-story design with 12-foot ceilings. The layout includes 5,940 square feet on each floor, easily accessible via stairs or an elevator. The lower level offers convenient drive-in access. The property sits on a sizable 18,200 square-foot lot and includes a dedicated parking area with 12 spaces, one loading dock, and one dock-high door. The building is equipped with 3-phase power. Its B-2 General Commercial zoning allows for diverse uses, including executive, medical, and creative office spaces, as well as retail opportunities. The property enjoys a highly desirable location across from the new Benefis Specialty Care Center, and is surrounded by numerous amenities including Starbucks, Safeway, Ramada Hotel, and several banks and fast-food restaurants. Annual property taxes are $12,237, and insurance is $6,100 per year. The lease rate is $14.00 per square foot, plus NNNs. This is a single-tenant space.

• CAP approach

  CAP return

  Valuation

  6%

  $1,561,555

  6.5%

  $1,441,435

  7%

  $1,338,476

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,191,498

  Geo Method

  $3,191,498

• Alternative Use

  Use

  Valuation

  Residential

  $1,215,905

  Hospitality

  $1,113,762

  Educational

  $926,637

  Medical

  $958,506

  Retail

  $1,441,435

Location Insight

City

Helena

County

Lewis And Clark

State

Montana

Latitude

46.5914

Longitude

-112.014

CBSA code

25740

CBSA name

HELENA, MT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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