223 Higgins Ave Missoula, MT 59802

Property Details for 223 Higgins Ave

Year built

1895

Construction

WOOD

Lot size

0.12 lot acres

Property size

7,860 SF

Zone code

6

Property type

Retail space

APN

04-2200-22-2-23-08-0000

APU

4220022223080000

Description

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.