MLS # 22216165
208 Ryman Street, Missoula, Montana 59802

MLS 22216165 $3,500,000

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.

Contact

Spangler Real Estate
Superior, Montana 59872
(406) 822-4415

General Property Description

Days On Market: 76
Listing Date: Nov 16 2022
Property Type: Commercial
Property Sub-Type: Commercial
Lot Acres: 0.35
Year Built: 0
Total Sq. Ft.: 18163
Waterfront: None
List Price/SqFt: 192.70
Square Feet Estimate: 10000-20000

Property Details

Terms Of Sale: Cash,Conventional
Construction: Brick,Concrete,Wood/Frame
Age: Over 20 Years
Condition: Good
Foundation: Poured Concrete
Gross Annual Income: $100,000 - $500,000
Offering: For Sale Bldg./Land,For Sale Building
Present Usage: Food/Beverage,Office,Retail,Service,Storage
Stories Above Ground: One

Legal and Taxes

Assessor Number: 0003283904
Covenant: No
Legal: PALACE CONDOMINIUMS, S22, T13 N, R19 W, MASTERSee Title for full legal description.
Tax Year: 2021
Taxes: 29770.9
Zoning: CBD-4

© 2022 Montana Regional MLS. Information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed and should be independently verified. Listed By: Soula Realty, 2825 Stockyard Unit A-10, Missoula, MT 59808, Scott MacIntyre, (406) 926-6588


Property Location
Free Daily Email

Be the First to Know! Sign up to receive our free daily email, it is great way to watch for the newest property listings. (Privacy Policy)

View email
Free Daily Email
text realestate
Follow Us

Go Country, a web site affiliated with and maintained by Northwest National Real Estate, features exceptional properties that are sorted by category, including country homes, recreation property, ranches, farms, vacant land, hotels, restaurants, rental income, RV and mobile home parks, and more.

View Go Country!

Real Estate Guide

Order your free Country Connection Real Estate Guide.

real estate catalog

Vol. 27, Issue 1 - Fall 2022/Winter 2023

Free Daily Email
text realestate

Go Country, a web site affiliated with and maintained by Northwest National Real Estate features exceptional properties that are sorted by category, including country homes, commercial property, recreation property, ranches, farms, vacant land, hotels, restaurants, rental income, RV and mobile home parks and more.