Park County, MT
6.75 Acres M/L

1106 W Park Street
Livingston, MT 59047

Price	$3,350,000
Listing	#13562

Licensing & Compliance Broker

Andrew Westlake

Office: 515.222.1347
Mobile: 515.771.7588
Andrew@PeoplesCompany.com

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Description

Peoples Company is pleased to exclusively represent the Yellowstone Gateway Mall, a 47,777 square foot multi-tenant retail center in Livingston, MT.

The center offers a strong mix of national and local tenants including The UPS Store, Yellowstone Gifts and Sports, Aestetic Oral Arts, Crust and Crumb Bakery, Pony Express Lube and Upper Cut Salon. The center is anchored by a newly renovated and expanded Ace Hardware store occupying over 15,000 square feet with a lease extending through 2024 and additional renewal options through 2034.

The leases feature rental increases of up to 10% and staggered lease expirations providing investors a strong and stable return. Expenses are shared between tenants, neighboring Shopko and Landlord.

Current vacancy of 7,000 square feet provides tremendous upside potential as 2015 CAP rate approached 4%. The property is projected to cap at 6.5% when fully leased and before scheduled rate increases take effect.

Livingston is a growing community that thrives on tourism and local industry. Sitting at the junction of Interstate 90 and Highway 89, the route to Yellowstone National Park's North entrance, Livingston is a destination and stop-over point for thousands of travellers annually.

The subject property is located on Highway 89 (W. Park Street) just .5 miles off I-90 on the interstate business loop offering excellent visibility to traffic counts of 12,000 vehicles daily. Its location provides quick access to Bozeman (25 miles) and Yellowstone National Park (50 miles).

Legal Description

S23, T02 S, R09 E, C.O.S. 1896, PARCEL 000, TRACT IN NE4NE4

Directions

Take Park St. Exit from I-90 west to property on right

Improvements

Recent major include new roof in 2016 & 2017, HVAC upgrades and n ew LED lighting.