Property Description
• 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 visibility 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)
Property Details 637 Idaho Street, Kalispell, MT 59901
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Estimated Monthly Mortgage Calculator
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