411 N Last Chance Gulch Helena, MT 59601

Property Details for 411 N Last Chance Gulch

Year built

1880

Construction

WOOD

Lot size

0.23 lot acres

Property size

35,584 SF

Property type

Investment properties

Property subtype

Live-work space

APN

05-1888-30-2-04-03-0000

APU

5188830204030000

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.