322 Spruce StMissoula, MT 59801

Property Details for 322 Spruce St

Year built

1935

Construction

WOOD

Lot size

0.18 AC

Property size (Sq ft)

1,909 SF

Zone code

6

Property type

Investment properties

Property subtype

Live-work space

APN

04-2200-22-2-50-03-0000

APU

4220022250030000

Description

This exceptional investment opportunity in downtown Missoula presents a unique blend of commercial and residential income potential. The property encompasses three buildings situated on a 0.18-acre lot at 322 W Spruce Street. The main building, encompassing addresses 322 and 322B, offers a substantial 5,953 square feet of space. The front building's main level (1365 sq ft) features a bright and spacious office layout, including two large private offices, a full bathroom, a reception area, and a combined kitchen/dining area. The upper level (separate entrance) provides two additional office spaces and a kitchen area. The lower level (322B), at 1312 square feet, includes 796 square feet of living space and is currently rented separately. Adding to the income potential, a triplex built in 1927 sits at the rear of the property. This triplex comprises 1248 square feet on the main level, divided into two one-bedroom units, and a 650-square-foot unit in the full basement. The property includes off-street parking, a significant advantage in a bustling downtown area. This well-maintained property offers a diverse range of income streams and presents a compelling investment opportunity in a highly desirable Missoula location. Additional documents are available for detailed information on the individual units and rental history. The property addresses include 322, 322 1/2, 322B, 324, 326, and 328 W Spruce Street. The asking price is $1,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $341,397

  6.5%

  $315,136

  7%

  $292,626

• Comparable approach

  Method

  Valuation

  Relative Method

  $407,018

  Geo Method

  $407,018

• Alternative Use

  Use

  Valuation

  Residential

  $390,768

  Hospitality

  $357,941

  Educational

  $297,803

  Medical

  $308,045

  Retail

  $463,249

Location Insight

City

Missoula

County

Missoula

State

Montana

Latitude

46.8755

Longitude

-113.996

CBSA code

33540

CBSA name

MISSOULA, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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