120 W Broadway Street , Butte, MT 59701
Butte, MT 59701
Description
Located in Uptown Butte, the Grand Hotel is a +/- 29,220 SF mixed-use property situated on a 5,140 SF lot. Built in 1917, this six-story building features +/- 4,870 SF per floor, with the Quarry Brewery occupying the lower level and Derailed Bike Shop along with a private event space on the ground level. Floors 3-6, currently shell space, were formerly used as hotel rooms and are structurally designed to accommodate five condo units per floor, for a total of 20 units. The proposed floor plan includes three 2 BR/2 BTH units, one 2 BR/1 BTH unit, and one studio unit per floor, offering a unique opportunity for an adaptive reuse project. This iconic property generates income while presenting significant upside potential through the 20-unit condo conversion. Situated in a Qualified Opportunity Zone, the Grand Hotel is eligible for Historic Tax Credits and benefits from its location within the URA District, which offers incentives for revitalization. Additionally, the offering includes a 2,091 SF vacant lot on Broadway Street. This property was appraised in 2023 at $2,050,000, offering immediate equity upon purchase.
Details
| Mls | 398145 |
|---|---|
| Listing Type | For Sale |
| Subtype | Resale |
| Status | Active |
| Year | 1917 |
| Days On Site | 20 |
| Listing Provided By | Starner Commercial Real Estate | Michael Reams |
Features
| Sq Feet | 29,220 |
|---|---|
| Zoning | C3 - Central Commercial |
| Acreage | 0.12 |
Market Activity 59701
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Learn More About This Property
| State | MT |
|---|---|
| County | Silver Bow |
| City | Butte |
| Zip Code | 59701 |
| Area | Butte and Surrounding Areas |
| Subarea | 10BNE Butte N of Front | E of Montana |
| Listing VS Median (in 59701) | |
Price: $1,300,000 low | high Med: $319,000 SqFt: 29,220 low | high Med: 2,411 $ / SqFt: $44 low | high Med: $132 On Site: 20 low | high Med: 60.000000 | |