1427 Broadway StMissoula, MT 59802
- Hospitality properties
- 9,936 SF
Property Details for 1427 Broadway St
- Year built
- 1950
- Construction
- WOOD
- Lot size
- 0.57 AC
- Property size (Sq ft)
- 9,936 SF
- Zone code
- 7
- Property type
- Hospitality properties
- Property subtype
- Hotels
- APN
- 04-2200-21-2-19-07-0000
- APU
- 4220021219070000
Description
This exceptional .57-acre commercial land parcel, located at 1427 W Broadway Street in Missoula, Montana, presents a unique investment opportunity. Situated within the designated "Next Great Missoula Neighborhood Center" as detailed in the Envision West Broadway master plan, this property offers significant potential for development. Its location in an Opportunity Zone allows investors to leverage federal programs for potential tax advantages. Further enhancing its appeal, the property is zoned C2-4 (community commercial), opening doors to a wide array of development possibilities. The site benefits from convenient access to West Broadway Street and Russell Street, as well as a rear alley providing access to North Russell Street and Hillsdale Street. Adding to its desirability, the property enjoys proximity to Ron's River Trail, offering a connection to downtown and surrounding neighborhoods via a high-quality shared-use path. Public transit is also within walking distance. The Missoula Redevelopment Agency (MRA) may offer tax increment financing support, and projects incorporating income-restricted housing units could be eligible for funding through the MRA Workforce Housing Pilot Program. However, any development must align with the Envision West Broadway Master Plan guidelines. This property's strategic location, zoning flexibility, and potential for government incentives make it an attractive proposition for discerning investors seeking a prime commercial development site in a thriving Montana community. The property's zip code is 59802.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,018,272
- 6.5%
- $1,863,020
- 7%
- $1,729,947
-
Comparable approach
- Method
- Valuation
- Relative Method
- $4,978,368
- Geo Method
- $4,978,368
-
Alternative Use
- Use
- Valuation
- Residential
- $2,033,877
- Hospitality
- $1,863,020
- Educational
- $1,550,011
- Medical
- $1,603,318
- Retail
- $2,411,128
Location Insight
- City
- Missoula
- County
- Missoula
- State
- Montana
- Latitude
- 46.8777
- Longitude
- -114.018
- CBSA code
- 33540
- CBSA name
- MISSOULA, MT METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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