411 N Last Chance Gulch , Helena, MT 59601
Helena, MT 59601
Description
The Iron Front building, a stalwart of downtown Helena, is back on the market. This landmark building has been a significant part of downtown Helena's history since the late 1800s, featuring the beautiful fourth-floor Windsor Ballroom and retail spaces along Last Chance Gulch. The two interior floors, consisting of 39 units were originally used as a hotel and most recently served as residential "sleeping rooms" with shared bathrooms until a fire in August 2023 led to their vacancy. Located in Oppurtunity Zone and eligible for historic preservation tax credits and TIFF funds for the right project. The interior floors could be restored to residential apartments or converted for commercial use. More information on the building is available and the current owner is interested in all offers, including partnership/investment on a renovation project. Contact Beau Stumberg at 406-439-2884, or your real estate professional today. Agent is related to seller. A feasibility study was conducted over the winter which available with a signed NDA. Because the building is historical, it is eligible for a number of grant and tax credit opportunities, most notably historic tax credits. The current owner is ready and motivated to sell but is also interested in equity partnerships or other creative solutions to get the property habitable again. Currently there are two tenants, The General Mercantile and Anchor G Events. Anchor G operates the entire fourth floor and 417 N Last Chance Gulch, which is one of the three commercial/retail spaces on the ground floor. The third space has a lease in place and will be occupied in November. Rent roll is found in the documents. The two residential floors are out dated and in rough condition. They need of major repair due to age and some fire damage. The fire which occurred in one small portion of the building and damaged only a portion of the building. The building still has its structural integrity. The boiler was replaced in 2014 and is in good shape. The roof has been recently repaired and is in fair condition. Current rent roll is $8500 per month, $11,100 starting Dec. 1st.
Details
| Mls | 30026821 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Buildingname | Iron Front Hotel |
| Subtype | Resale |
| Status | Active |
| Year | 1880 |
| Days On Site | 206 |
| Listing Provided By | Coldwell Banker Commercial Green & Green | Beau Gotlieb Stumberg |
Features
| Sq Feet | 35,584 |
|---|---|
| Acreage | 0.23 |
Market Activity 59601
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Learn More About This Property
| State | MT |
|---|---|
| County | Lewis and Clark |
| City | Helena |
| Zip Code | 59601 |
| Listing VS Median (in 59601) | |
Price: $1,100,000 low | high Med: $425,000 SqFt: 35,584 low | high Med: 3,704 $ / SqFt: $31 low | high Med: $115 On Site: 206 low | high Med: 14.000000 | |