1235 1St StHamilton, MT 59840

Property Details for 1235 1St St

Year built

1988

Construction

WOOD

Lot size

5.03 AC

Property size (Sq ft)

60,666 SF

Property type

Outlet malls

APN

13-1467-24-1-03-11-0000

APU

13146724103110000

Description

This exceptional investment opportunity presents the Bitterroot Valley Shopping Center, a 61,120 square foot retail center located at 1235 N 1st St, Hamilton, MT 59840. The property sits on a 6.71-acre lot and comprises two buildings: a 57,759 square foot former Kmart and a 3,340 square foot US Bank branch. Both tenants recently exercised options to extend their leases, ensuring 100% occupancy. The center boasts a strong NOI of $338,896, resulting in an 8.00% cap rate, and is offered at an asking price of $4,000,000 ($65.45/sq ft). Built in 1988, the property benefits from its location on Highway 93 (N. 1st Street), experiencing a high traffic count of 18,360 AADT. The property includes additional developable land adjacent to the former Kmart, offering potential for approximately 16,000 square feet of future retail space. The adjacent Albertson's recently purchased additional land for expansion, further enhancing the center's long-term prospects. This is a core+ investment with a NNN lease structure. The property is strategically positioned in Ravalli County, Montana, offering a compelling combination of strong tenancy, high traffic visibility, and significant future development potential.

• CAP approach

  CAP return

  Valuation

  6%

  $15,948,366

  6.5%

  $14,721,568

  7%

  $13,670,028

• Comparable approach

  Method

  Valuation

  Relative Method

  $32,595,186

  Geo Method

  $32,595,186

• Alternative Use

  Use

  Valuation

  Residential

  $12,418,194

  Hospitality

  $11,374,999

  Educational

  $9,463,865

  Medical

  $9,789,342

  Retail

  $14,721,568

Location Insight

City

Hamilton

County

Ravalli

State

Montana

Latitude

46.2613

Longitude

-114.159

Property Tax & Assessments

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