- Current Cap Rate: ~6.54% - Value-add potential with lease escalations / bumping rents on shop and residential unit Booming Downtown Kalispell!!! Steps to the Parkline Trail and soon to be redeveloped mall. This well-located, high traffic countn(22k APD per MDT), fully-leased mixed-use property offers stable cash flow with upside.
Combining commercial and residential income, plus billboard lease revenue, it's a turnkey investment with potential for increased yield through strategic improvements or rent increases. Ownership has spent $450k+ in last 12 months on complete remodel/ upgrades.
- Complete interior and site remodel with full change of use. - New roof (<5 yrs old) - New HVAC systems and plumbing throughout. - Two new ADA bathrooms, and 2 showers. - Updated 1BR/1BA apartment. - New site work including fresh asphalt (front and rear) and 6 added parking spaces.
(18 total) - New front concrete sidewalk/ ADA parking/ entrance and approach. - New curbing and wonderful landscaping, fully irrigated. - New fencing, in front and rear.- Opened up back exit for parking via city alley for better traffic flow. - Large, level backyard with mature trees and grass.
Investment Highlights - Stable tenant roster with long-term leases. - Triple income streams from commercial (NNN & gross) and residential. - Billboard income adds $2,200 annually. - High-traffic / visibility location along E Idaho St / Highway 2. (approx 24k/day) - Perfect re-development site in future, open lot to West and small lot to East - could negotiate with other owners to combined for larger development.
- Lot size ~0.49 acres with paved parking and mature fenced yard. - Zoned B-2 General Business / commercial flex - Ideal for eventual mixed-use redevelopment. - Remodeled Back apartment with in-unit laundry, fenced yard & old-growth trees. - Garage bays & overhead doors in the shop as well as main building (2 and 2) - Clear frontage & excellent vis
ibility for tenants and marketing Financial Snapshot - Net Income: ~$85,000/ yr - Current Cap Rate: ~6.54% - Value-add potential with lease escalations / bumping rents on shop and residential unit (Garage to be painted in the next few weeks)
