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Rare investment opportunity in the heart of West Yellowstone! This unique property combines residential living with exceptional commercial potential on two original lots combined into one expansive parcel, offering desirable B-3 Commercial zoning and endless possibilities. Whether you’re looking for employee housing, retail, warehouse space, offices, mixed-use development, or nightly lodging (subject to local regulations and approvals), this property is positioned to meet a wide variety of investment goals. Generate income from day one with two existing rental units, one "front" home featuring 3 bedrooms, 1 bathroom, kitchen, laundry room and living area. The back unit is complete with separate entrance, a kitchen, living room, laundry room, 3/4 bathroom and bedroom. There are five separate trailer pads, providing immediate cash flow while you plan for future development. The property also features SIX individual water and sewer hookups, adding tremendous value and flexibility for development. Ideally located within walking distance of West Yellowstone’s iconic Main Street, you’ll enjoy easy access to restaurants, shopping, entertainment, schools, grocery stores, outfitters, and Yellowstone Airport. Just minutes from the west entrance of Yellowstone National Park, this location benefits from millions of annual visitors and strong year-round demand for housing, lodging, and commercial services. Outdoor recreation is second to none. Enjoy world-renowned blue-ribbon trout fishing on the Madison River, boating and fishing at nearby Hebgen Lake, plus endless opportunities for hiking, mountain biking, horseback riding, wildlife viewing, snowmobiling, cross-country skiing, and exploring the surrounding Gallatin and Targhee National Forests. Whether you’re searching for an income-producing investment, a live-work opportunity, employee housing, or a property with exceptional redevelopment potential, this offering delivers unmatched versatility in one of Montana’s premier gateway communities. Continue generating income from the existing rentals and trailer pads, or capitalize on the flexibility of B-3 Commercial zoning to bring your vision to life. Commercial properties with existing cash flow, utility infrastructure, and redevelopment opportunities this close to Yellowstone National Park are increasingly rare. Don’t miss this chance to own a highly versatile, income-producing property in one of Montana’s strongest tourism and investment markets.

• Bedrooms
  4
• Bathrooms
  2
• Sq Footage
  1924
• Acres
  0.68
• Days on Market
  10

Additional Features

• Bathrooms Total Integer
  2
• Bedrooms Total
  4
• Building Area Total
  1924
• City
  West Yellowstone
• Contract Status Change Date
  2026-07-16
• Cooling
  None
• Directions
  Enter West Yellowstone from North on Hwy 191 turn right onto Hwy 20, turn left on North Hayden Ave and right on Firehole. Property is on right.
• Heating
  Forced Air
• Heating
  Yes
• Latitude
  44.662405
• Listing Contract Date
  2026-07-16
• Listing Key
  1177172721
• List Price
  1150000
• Living Area
  1924
• Longitude
  -111.111209
• Lot Size Acres
  0.68000
• Lot Size Square Feet
  29621
• MLS Area Major
  West Yellowstone
• MLS Area Minor
  5 W - West Yellowstone City
• MLS Status
  Active
• Original List Price
  1150000
• Originating System Name
  S W M T
• Ownership
  Full
• Parcel Number
  R R G16723
• Photos Count
  34
• Postal Code
  59758
• Property Sub Type
  Building
• Property Type
  Commercial Sale
• Sewer
  Public Sewer
• Standard Status
  Active
• Subdivision Name
  None
• Tax Annual Amount
  5273.00
• Tax Legal Description
  WEST YELLOWSTONE ORIGINAL PLAT, S34, T13 S, R05 E, BLOCK 8, LOT 16A, ACRES 0.68, AMENDED PLAT B-47-A16
• Tax Year
  2025
• Unparsed Address
  625 Firehole
• Utilities
  Electricity Available, Sewer Available, Water Available
• Water Source
  Public
• Year Built
  1940

Let me show you this listing!