424 Higgins AveMissoula, MT 59802

  • Turn key restaurants
  • 8,550 SF
For Lease
$24/SF/YR View listing

Property Details for 424 Higgins Ave

Year built
1900
Construction
WOOD
Lot size
0.08 AC
Property size (Sq ft)
8,550 SF
Zone code
6
Property type
Turn key restaurants
APN
04-2200-22-2-39-09-0000
APU
4220022239090000

Description

This exceptional four-story, 11,800-square-foot mixed-use building, constructed in 1900 and renovated in 2019, presents a rare opportunity in Missoula's vibrant downtown. Located on North Higgins Avenue, it boasts approximately 9,522 square feet of vacant space, offering significant potential for a variety of uses. The ground floor features approximately 11,800 square feet of street-level retail space, ideal for a flagship store or multiple tenants. A fully equipped bar with water and drain access is already in place. The upper three floors provide approximately 5,300 square feet of versatile office and event space. The second floor includes three large private offices, two restrooms, a kitchenette, open workspaces, and dual porch terraces. The third floor offers an expansive open event space with a wet bar, restroom, and a fully built-out suite with its own restroom and storage. The building is zoned CBD-4 and benefits from abundant natural light and elegant custom wood trim throughout. This historically significant property offers a unique blend of character and modern functionality, making it an exceptional investment opportunity in a thriving Montana market. The building's prime location ensures high visibility and accessibility.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,771,990
    6.5%
    $1,635,680
    7%
    $1,518,850
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,895,860
    Geo Method
    $1,895,860
  • Alternative Use

    Use
    Valuation
    Industrial / Distribution
    $3,214,720
    Mixed-Use / Specialty
    $1,619,750
    Hospitality / Lodging
    $1,175,220
    Office
    $1,599,610
    Institutional / Educational
    $1,680,280
    Residential Income
    $1,965,930
    Multifamily
    $2,413,800
    Automotive / Energy
    $1,440,240
    Parking / Income-Based Land
    $506,985
    Restaurant / Food Service
    $820,898
    Healthcare / Senior Housing
    $1,671,380

Location Insight

City
Missoula
County
Missoula
State
Montana
Latitude
46.8735
Longitude
-113.993
CBSA code
33540
CBSA name
MISSOULA, 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
$33,061
-
-
$1,903,648
-
$524,388
$1,379,260
$1,903,648

FAQs

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