411 N Last Chance Gulch
About this property
The Iron Front building, a stalwart of downtown Helena, is back on the market. This landmark building has been a significant part of downtown Helena's history since the late 1800s, featuring the beautiful fourth-floor Windsor Ballroom and retail spaces along Last Chance Gulch, home to The General Mercantile. The two interior floors, consisting of 39 units, were originally used as a hotel and most recently served as residential "sleeping rooms" with shared bathrooms until a fire in August 2023 led to their vacancy. The building is now ready for its next phase. Plumbing and electrical systems are antiquated and need to be updated. The interior floors could be restored to residential apartments or converted for commercial use. More information on the building is available and the current owner is interested in all offers, including partnership/investment on a renovation project. Contact Beau Stumberg at 406-439-2884, or your real estate professional today. A feasibility study was conducted over the winter which available with a signed NDA. Because the building is historical, it is eligible for a number of grant and tax credit opportunities, most notably historic tax credits. The current owner is ready and motivated to sell but is also interested in equity partnerships or other creative solutions to get the property habitable again. Currently there are two tenants, The General Mercantile and Anchor G Events. Anchor G operates the entire fourth floor and 417 N Last Chance Gulch, which is one of the three commercial/retail spaces on the ground floor. The third space is undergoing a large remodel and should be ready to be leased in summer of 24. Rent roll is found in the documents. The two residential floors are out dated and in rough condition. They need of major repair due to the fire, which occurred in one small portion of the building. Current rent roll is $8500 per month with the third retail space under construction and set to rent for $15-$18 per square foot, modified gross.
About this property
The Iron Front building, a stalwart of downtown Helena, is back on the market. This landmark building has been a significant part of downtown Helena's history since the late 1800s, featuring the beautiful fourth-floor Windsor Ballroom and retail spaces along Last Chance Gulch, home to The General Mercantile. The two interior floors, consisting of 39 units, were originally used as a hotel and most recently served as residential "sleeping rooms" with shared bathrooms until a fire in August 2023 led to their vacancy. The building is now ready for its next phase. Plumbing and electrical systems are antiquated and need to be updated. The interior floors could be restored to residential apartments or converted for commercial use. More information on the building is available and the current owner is interested in all offers, including partnership/investment on a renovation project. Contact Beau Stumberg at 406-439-2884, or your real estate professional today. A feasibility study was conducted over the winter which available with a signed NDA. Because the building is historical, it is eligible for a number of grant and tax credit opportunities, most notably historic tax credits. The current owner is ready and motivated to sell but is also interested in equity partnerships or other creative solutions to get the property habitable again. Currently there are two tenants, The General Mercantile and Anchor G Events. Anchor G operates the entire fourth floor and 417 N Last Chance Gulch, which is one of the three commercial/retail spaces on the ground floor. The third space is undergoing a large remodel and should be ready to be leased in summer of 24. Rent roll is found in the documents. The two residential floors are out dated and in rough condition. They need of major repair due to the fire, which occurred in one small portion of the building. Current rent roll is $8500 per month with the third retail space under construction and set to rent for $15-$18 per square foot, modified gross.
Features and Additional Information
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