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    237 Higgins Ave Missoula, MT 59803

    For Sale
    $1,250,000

    Two leased condos, excellent income, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use investment opportunity presents two leased condominiums at 237 SW Higgins Avenue A and B in Missoula, Montana, 59803. Offered at $1,250,000, this property boasts a combined square footage of 2,840 on a large lot with ample parking. Built in 2006, the building is in excellent condition and features a basement with an elevator and stairs, providing equipment and storage space. Each unit has its own hot water equipment located in the basement. Both units are currently under long-term leases with annual escalators, ensuring consistent and growing rental income. The current annual income exceeds $60,800, with tenants responsible for their share of common area charges. The seasoned tenants provide a stable and reliable income stream. This property's prime location in Missoula, Montana, combined with its strong financial performance and excellent condition, makes it an ideal investment for discerning buyers seeking a secure and profitable venture. The lot size encompasses both condominiums.

    Property Features for 237 Higgins Ave

    General Information

    Property type
    Mixed-use properties

    Building Details

    Year Built
    2006
    Units
    2

    HighLights

    • Exceptional mixed‑use investment opportunity in Missoula, MT.
    • Offered at $1,250,000, this property features two leased condos totaling 2,840 square feet.
    • Located on a large lot with ample parking, the 2006‑built building is in excellent condition.
    • Features a basement with elevator, stairs, and individual hot water equipment for each unit.
    • Both units have long‑term leases with annual rent escalations, generating over $60,800 in annual income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Smile Missoula Dentist Dr. George M. ... Dentist Althauser Andrew DDS Dentist Edward Jones - Financial ... Financial Consultant Missoula Veterinary Dentistry ... Veterinarian

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Missoula
    County
    Missoula
    State
    Montana
    Longitude
    -113.9991904
    Latitude
    46.8401605

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    FAQs

    What type of property is this?
    Mixed-use property - Two leased condos, excellent income, prime location.
    Where is this mixed-use property located?
    The property is located at 237 Higgins Ave Missoula, MT.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Exceptional mixed-use investment opportunity in Missoula, MT.; Offered at $1,250,000, this property features two leased condos totaling 2,840 square feet.; Located on a large lot with ample parking, the 2006-built building is in excellent condition.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    237 Higgins Ave Missoula, MT 59803
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