40 Broadway St Price &Butte, MT 59701

Property Details for 40 Broadway St Price &

Year built

1910

Construction

WOOD

Lot size

0.34 AC

Property size (Sq ft)

48,192 SF

Zone code

6

Property type

Office properties

Property subtype

Office buildings

APN

01-1197-13-1-15-23-0000

APU

1119713115230000

Description

This exceptional mixed-use property, located at 40 E Broadway Street in Butte, Montana, presents a unique investment opportunity. Originally constructed in 1893 as the Ellwood Block and later expanded in 1912 as the Montana Electric Building, this 24,100+ square foot property boasts a rich history and significant potential. The buildings, currently connected to adjacent structures, sit on a 7,851 square foot lot and are zoned C3 Mixed Use Commercial, allowing for a variety of development options. The upper floors are ideally suited for residential conversion, while the street level is perfect for retail or dining establishments. Sweeping views from the lower rooftop of the "Price" building offer potential for an outdoor space. Existing infrastructure includes elevator service and fire suppression systems. The mid-century turquoise paneling has been removed from the Montana Electric Building, revealing a restorable historic facade. While the Ellwood Block's original details remain covered, a handsome bay-fronted facade could be restored. A transferable Qualified Opportunity Zone Fund is established, and the application process for Federal Historic Tax Credits is underway. The property's location within the Urban Revitalization Agency boundary may qualify it for additional grants and loan programs for restoration and redevelopment. Note that a new owner will be responsible for separating utilities from the Western bordering structure(s) and obtaining a new property address.

• CAP approach

  CAP return

  Valuation

  6%

  $8,618,436

  6.5%

  $7,955,479

  7%

  $7,387,230

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,275,016

  Geo Method

  $10,275,016

• Alternative Use

  Use

  Valuation

  Residential

  $9,864,794

  Hospitality

  $9,036,098

  Educational

  $7,517,928

  Medical

  $7,776,480

  Retail

  $11,694,554

Location Insight

City

Butte

County

Silver Bow

State

Montana

Latitude

46.0136

Longitude

-112.534

CBSA code

15580

CBSA name

BUTTE-SILVER BOW, MT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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