About this property

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.

Features and Additional Information