237 Higgins AveMissoula, MT 59803

Property Details for 237 Higgins Ave

Year built

2006

Construction

WOOD

Property size (Sq ft)

2,736 SF

Property type

Office properties

Property subtype

Other office properties

APN

04-2200-33-4-19-07-7003

APU

4220033419077003

Description

This exceptional mixed-use investment opportunity presents two leased condominiums at 237 SW Higgins Avenue A and B in Missoula, Montana, 59803. Offered at $1,250,000, this property boasts a combined square footage of 2,840 on a large lot with ample parking. Built in 2006, the building is in excellent condition and features a basement with an elevator and stairs, providing equipment and storage space. Each unit has its own hot water equipment located in the basement. Both units are currently under long-term leases with annual escalators, ensuring consistent and growing rental income. The current annual income exceeds $60,800, with tenants responsible for their share of common area charges. The seasoned tenants provide a stable and reliable income stream. This property's prime location in Missoula, Montana, combined with its strong financial performance and excellent condition, makes it an ideal investment for discerning buyers seeking a secure and profitable venture. The lot size encompasses both condominiums.

• CAP approach

  CAP return

  Valuation

  6%

  $489,294

  6.5%

  $451,656

  7%

  $419,395

• Comparable approach

  Method

  Valuation

  Relative Method

  $583,343

  Geo Method

  $583,343

• Alternative Use

  Use

  Valuation

  Residential

  $560,053

  Hospitality

  $513,006

  Educational

  $426,815

  Medical

  $441,493

  Retail

  $663,934

Location Insight

City

Missoula

County

Missoula

State

Montana

Latitude

46.8402

Longitude

-113.999

CBSA code

33540

CBSA name

MISSOULA, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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