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411 N Last Chance Gulch

Helena, MT 59601
  • $1,100,000
  • STATUS: Active
  • ON SITE: 164 Days
  • MLS #: 30026821
UPDATED: 31 min ago
$1,100,000
  • 0
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1880
County:
Area:

School Ratings & Info

Description

The Iron Front building, a stalwart of downtown Helena, is back on the market. This landmark building has been a significant part of downtown Helena's history since the late 1800s, featuring the beautiful fourth-floor Windsor Ballroom and retail spaces along Last Chance Gulch. The two interior floors, consisting of 39 units were originally used as a hotel and most recently served as residential "sleeping rooms" with shared bathrooms until a fire in August 2023 led to their vacancy. Located in Oppurtunity Zone and eligible for historic preservation tax credits and TIFF funds for the right project. The interior floors could be restored to residential apartments or converted for commercial use. More information on the building is available and the current owner is interested in all offers, including partnership/investment on a renovation project. Contact Beau Stumberg at 406-439-2884, or your real estate professional today. Agent is related to seller. A feasibility study was conducted over the winter which available with a signed NDA. Because the building is historical, it is eligible for a number of grant and tax credit opportunities, most notably historic tax credits. The current owner is ready and motivated to sell but is also interested in equity partnerships or other creative solutions to get the property habitable again. Currently there are two tenants, The General Mercantile and Anchor G Events. Anchor G operates the entire fourth floor and 417 N Last Chance Gulch, which is one of the three commercial/retail spaces on the ground floor. The third space has a lease in place and will be occupied in November. Rent roll is found in the documents. The two residential floors are out dated and in rough condition. They need of major repair due to age and some fire damage. The fire which occurred in one small portion of the building and damaged only a portion of the building. The building still has its structural integrity. The boiler was replaced in 2014 and is in good shape. The roof has been recently repaired and is in fair condition. Current rent roll is $8500 per month, $11,100 starting Dec. 1st.

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© 2024 Montana Regional MLS. Information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed and should be independently verified. Data last updated: 2024-11-11T18:18:55.16.
www.acrealtymontana.com/homes/151104853
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411 N Last Chance Gulch Helena, MT 59601

  • Price: $1,100,000
  • Status: Active
  • On Site: 164 Days
  • Updated: 31 min ago
  • MLS #: 30026821
0
Beds
0
Baths
0
½ Baths
0.23
Acres
1880
Built
County:
Lewis And Clark
Area:
Helena
Property Description
The Iron Front building, a stalwart of downtown Helena, is back on the market. This landmark building has been a significant part of downtown Helena's history since the late 1800s, featuring the beautiful fourth-floor Windsor Ballroom and retail spaces along Last Chance Gulch. The two interior floors, consisting of 39 units were originally used as a hotel and most recently served as residential "sleeping rooms" with shared bathrooms until a fire in August 2023 led to their vacancy. Located in Oppurtunity Zone and eligible for historic preservation tax credits and TIFF funds for the right project. The interior floors could be restored to residential apartments or converted for commercial use. More information on the building is available and the current owner is interested in all offers, including partnership/investment on a renovation project. Contact Beau Stumberg at 406-439-2884, or your real estate professional today. Agent is related to seller. A feasibility study was conducted over the winter which available with a signed NDA. Because the building is historical, it is eligible for a number of grant and tax credit opportunities, most notably historic tax credits. The current owner is ready and motivated to sell but is also interested in equity partnerships or other creative solutions to get the property habitable again. Currently there are two tenants, The General Mercantile and Anchor G Events. Anchor G operates the entire fourth floor and 417 N Last Chance Gulch, which is one of the three commercial/retail spaces on the ground floor. The third space has a lease in place and will be occupied in November. Rent roll is found in the documents. The two residential floors are out dated and in rough condition. They need of major repair due to age and some fire damage. The fire which occurred in one small portion of the building and damaged only a portion of the building. The building still has its structural integrity. The boiler was replaced in 2014 and is in good shape. The roof has been recently repaired and is in fair condition. Current rent roll is $8500 per month, $11,100 starting Dec. 1st.
Exterior Features

Carport YN No Foundation Details Stone Garage YN No Parking Features On Street Road Frontage Type City Street Road Surface Type Asphalt Roof Rubber Waterfront YN No

Interior Features

Basement YN No Fireplace YN No Heating Gas Hot Water Heating YN Yes

Property Features

Building Area Total 35584 Building Features Elevator(s) Current Use Mixed Use Retail Listing Terms Cash Conventional Property Condition See Remarks Property Sub Type Retail Security Features Fire Alarm Sewer Community / Coop Sewer Special Listing Conditions Standard Tax Annual Amount 9688.81 Tax Assessed Value 1438852 Tax Legal Description THOMPSON PLACER S30 T10 N R03 W BLOCK 4 Lot 3 PM 44 Tax Year 2023 Utilities Electricity Available Natural Gas Available Water Source Community / Coop

Listing Agent: Beau Gotlieb Stumberg
Listing Office: Coldwell Banker Commercial Green & Green, Office Contact Info: 406-442-1736


© 2024 Montana Regional MLS. Information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed and should be independently verified. Data last updated: 2024-11-11T18:18:55.16.
 
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A&C Realty Group
Whitefish MT, 59937