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223 Higgins Ave Missoula, MT 59802

Sponsored
For Sale
$3,887,000

13,000 SF Mixed-Use Investment Opportunity

Property size:
13,000 SF

Description

Added:
Feb 3, 2025
Days on Market:
352
This exceptional 13,000 square foot building, constructed in 1895, presents a unique investment opportunity in the heart of downtown Missoula, Montana. Situated on a 0.12-acre lot at 223 N Higgins Avenue, this property boasts a striking brick exterior and retains much of its original charm. Recent updates have modernized the main and lower floors, each comprising 5,200 square feet. Currently, these floors are leased to a thriving restaurant and bar, providing immediate and substantial rental income. The tenant desires to continue leasing, offering a stable income stream for the new owner. The upper floor, a 2,600 square foot office space, offers flexibility. The current owners are open to continuing their lease or vacating, allowing for diverse future uses. Large windows on the front of the office provide stunning views of Higgins Street. The asking price of $3,887,000 is based on a projected capitalization rate of 6% and comparable property sales. Showings are by appointment only. The possibility exists to assume a low-interest rate loan for a portion of the financing. This is a rare chance to acquire a piece of Missoula's history and establish a strong presence in the vibrant downtown area.

Property Features for 223 Higgins Ave

General Information

Property type
Other commercial real estate
Square Feet
13,000 SF
Lot Size
5,227 SF

Building Details

Year Built
1895

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Listing Contact
Tamra Widhalm

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Property Insight Report

Property Profile Location Intelligence

Current Use by Public Records

River & Range Catering Catering Food And Drink Supplier appartments Holiday Apartment Rental Stave & Hoop Speakeasy ... Bar Pangea Bar & Restaurant ... Restaurant

Suggested Use

Realty agency Restaurant Dental Office Spa & Massage Hair Salon Law Firm Nail Salon Building Supply Clothing Store Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Missoula
County
Missoula
State
Montana
Longitude
-113.9946
Latitude
46.87193

FAQs

What type of property is this?
Commercial real estate - 13,000 SF Mixed-Use Investment Opportunity
Where is this commercial real estate located?
The property is located at 223 Higgins Ave Missoula, MT.
What is the asking price?
The asking price for this property is $3,887,000.
More about this property
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