Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    411 Last Chance Gulch Helena, MT 59601-5015
    Back to Search
    Property profile & analytics

    411 Last Chance Gulch, Helena, MT 59601-5015

    View on Map
    • Investment properties
    • 35,584 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US52-0902046
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jmacs Pottery / (Bike/Boat/Book/etc) Store

    Property Details for 411 Last Chance Gulch

    Year built
    1880
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    05-1888-30-2-04-03-0000
    APU
    5188830204030000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 17, 2026 — Ifh Holdings LLC — Deed · related $750k · Independence Bank
    Mar 12, 2026 — Gotliebs Five LLC — Deed · related $750k · Independence Bank

    Description

    This iconic 1880 Helena, Montana retail property, the Iron Front Hotel, is offered at $1,100,000. Situated on a 10,193 sq ft lot at 411 N Last Chance Gulch, this landmark building boasts a rich history and significant potential. Currently, it features two ground-floor retail tenants, The General Mercantile and Anchor G Events (occupying the entire fourth floor and 417 N Last Chance Gulch), with a third space leased and commencing occupancy in November. The current monthly rent roll is $8,500, increasing to $11,100 starting December 1st. The upper two floors, formerly used as residential "sleeping rooms," are currently vacant following an August 2023 fire that caused damage to a small portion of the building, leaving the structural integrity intact. These floors present a unique opportunity for redevelopment into residential apartments or additional commercial space. A feasibility study is available under a non-disclosure agreement. The property is located in an Opportunity Zone and is eligible for historic preservation tax credits and Tax Increment Financing (TIF) funds. The building benefits from a recently repaired roof and a boiler replaced in 2014. The seller is open to offers, including equity partnerships, to facilitate renovation and revitalization. Detailed financial information, including the rent roll, is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Helena
    County
    Lewis And Clark
    State
    Montana
    Longitude
    -112.037
    Latitude
    46.5909
    CBSA code
    25740
    CBSA name
    HELENA, MT MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,955
    $0.00
    $0.00
    $1,438,852
    -
    $224,152
    $1,214,700
    $1,438,852

    Comparable in this City

    • Value Estimation by Request
      804 SF

      2300 Euclid Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      2300 Euclid Ave, Helena, MT 59601-1401
      View Details
    • Value Estimation by Request
      1,908 SF

      310 Broadway St

      OFFICE/RESIDENTIAL (MIXED USE)
      310 Broadway St, Helena, MT 59601-4237
      View Details
    • Value Estimation by Request
      3,045 SF

      201 California St

      OFFICE/RESIDENTIAL (MIXED USE)
      201 California St, Helena, MT 59601-4974
      View Details
    • Value Estimation by Request
      1,820 SF

      200 Montana Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      200 Montana Ave, Helena, MT 59601-3894
      View Details
    • Value Estimation by Request
      658 SF

      1801 Montana Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1801 Montana Ave, Helena, MT 59601-0805
      View Details
    • Value Estimation by Request
      1,229 SF

      234 Lyndale Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      234 Lyndale Ave, Helena, MT 59601-2913
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      10-Acre Mixed-Use Property Available

      Mixed-use property with four buildings, long-term leases, and growth potential.
      2823 Airport Rd, Helena, MT 59601
      View Details
    • $3,800,000
      0.88 Acres

      Helena 10-Unit Multifamily Complex

      Luxury 10-plex, high occupancy, prime location.
      2296 Deerfield Ln, Helena, MT 59601
      View Details
    • Contact for pricing
      6,128 SF

      Helena Mixed-Use Property For Sale

      Two buildings on 1.05 acres suitable for various commercial uses.
      3210 Euclid Ave, Helena, MT 59601
      View Details
    • $2,500,000
      1,368 SF

      Historic Helena Auto Salvage Yard

      Prime Development Land, High Visibility
      3175 Prospect Ave, Helena, MT 59601
      View Details
    • $799,000

      Prime Commercial Land Opportunity

      Two platted lots ideal for development in Helena, Montana.
      935 West Custer Ave, Helena, MT 59601
      View Details

    Similar Nearby for Lease

    • $0.16 SF/Yr
      1,629 SF

      Helena Office Space: Artisan Block Gem

      1629 SF Class A Office, Prime Location
      40 14Th St, Helena, MT 59601
      View Details
    • Contact for pricing

      Medical Office on North Montana

      4,050 SF medical office space for lease.
      2231 N Montana Ave, Helena, MT 59601
      View Details
    • $10 SF/Yr

      Renovated Retail Space on Montana

      Renovated retail space with high traffic and strong co-tenancy.
      3073 North Montana Ave, Helena, MT 59601
      View Details
    • Contact for pricing
      1,814 SF

      Former Bank on Euclid Avenue

      Versatile commercial space with drive-in canopy in Helena, MT.
      1135 Euclid Ave, Helena, MT 59601
      View Details
    • $16 SF/Yr

      Downtown Helena Office Suite

      Premier office space in a historic downtown landmark building.
      24 W 6Th Ave, Helena, MT 59601
      View Details
    • Contact for pricing
      6,056 SF

      Helena Office Spaces For Rent

      Class B office spaces available in Helena, Montana.
      600 Lola St, Helena, MT 59601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    411 Last Chance Gulch
    Helena, MT 59601-5015
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    411 Last Chance Gulch, Helena, MT, 59601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!