$3,500,000
208 Ryman Street
Missoula, MT 59802
MLS# 22216165
18163 sqft


208 Ryman Street, Missoula, MT 59802
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Property Description
Investors, look no further! This property is a conglomerate of commercial condos spread over 18,000 sqft in the historic Palace Hotel, located in the heart of Downtown Missoula. Condos are 100% rented to four different tenants with an annual gross income of $324,000 and a net cap rate of over 8%. The main floor is roughly 11,000 sqft and is home to a Hair Salon, Cannabis Store, Commercial Kitchen, Casino, and a 600 person music venue and whiskey bar. The basement condos is roughly 7,000 sqft and is occupied with a Pool Hall, and off premise Alcohol Catering Business. The structure of the Palace Hotel building is shared with Missoula Housing Authority. Both MHA and Bavarian are in a condo association that shares the buildings expenses and maintenance.

Details
Maps
Documents
Contract Data
Current Price: $3,500,000
Property Sub-Type: Commercial
Listing Date: 2022-11-16
List Price: $3,500,000
List Price/SqFt: 192.7
Selling Office Comm.: 2.5
Sellers Preferred Title Company: TSI
Agent Owned: No
REO/Bank Owned: No
Sold Data
Status: Active
Potential Short Sale: No
General Property Description
Square Feet Estimate: 10000-20000
Total Sq. Ft.: 18163
Lot Acres: 0.35
Lot SqFt.: 15340
Waterfront: None
Legal and Taxes
Covenant: No
Zoning: CBD-4
Taxes: 29770.9
Tax Year: 2021
Legal: PALACE CONDOMINIUMS, S22, T13 N, R19 W, MASTER See Title for full legal description.
Location
House Number: 208
Street Name: Ryman
Street Suffix: Street
State: MT
Zip Code: 59802
County: Missoula
Country: United States
City Limits: Yes
Directions: Building is located on the SE corner of Broadway and Ryman, downtown Missoula.
Geo Lat: 46.872154
Geo Lon: -113.995377
Property Features
Terms Of Sale: Cash; Conventional
Offering: For Sale Bldg./Land; For Sale Building
Present Usage: Food/Beverage; Office; Retail; Service; Storage
Occupancy: Fully Leased
Gross Annual Income: $100,000 - $500,000
Age: Over 20 Years
Condition: Good
Stories Above Ground: One
Construction: Brick; Concrete; Wood/Frame
Floors: Carpeting; Concrete Slab; Tile; Wood
Foundation: Poured Concrete
Supplements
Financials and other information available with signed NDA (see document.) Call Scott MacIntyre at 406-529-9377 or your real estate professional.

Listing Office: Soula Realty

Listing Agent: Scott MacIntyre

Last Updated: November - 16 - 2022

208 Ryman Street, Missoula, MT 59802 - MLS# 22216165
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

IDX information provided courtesy of the Montana Regional MLS, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.