Helena Hospitality for Sale
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Rodeway Inn Helena (‘Hotel’ or ‘Property’) located in Helena, Montana. The Choice Hotels International, Inc.-branded Hotel is offered at $2,200,000 or $46,809 per key.
The Rodeway Inn Helena is a three-story hotel with 47-rooms, located at 2020 Prospect Avenue in Helena, Montana. The Hotel is easily accessible off Prospect Avenue, near its intersection with Interstate 15. Various common area amenities at the Property include ample parking, business center, and vending machines.
In 2024, the hotel generated $691,000 in gross revenue and achieved $259,000 in net operating income (NOI), representing a strong NOI margin of 37.4 percent. The hotel is attractively priced at a Capitalization rate of 10.1 percent, offering investors a compelling opportunity to acquire the asset at a conservative valuation with significant upside potential.
As the heart of the Helena, Montana Metropolitan Statistical Area (MSA)—which includes Lewis and Clark, Jefferson, and Broadwater counties—Helena offers a uniquely stable and resilient investment environment, underpinned by its role as the Montana state capital and a regional healthcare and administrative hub. One of Helena’s most compelling investment fundamentals lies in its highly stable employment base, dominated by state and federal government agencies. The state government alone employs over 10,000 individuals, accounting for more than 50 percent of the local workforce, and supporting a consistently low unemployment rate of just 2.7 percent. With a regional population nearing 97,000 and a city population of approximately 36,000, Helena is experiencing steady demographic and economic growth. The area’s connectivity enhances its investment appeal: Interstate 15 provides vital north-south highway access, and Helena Regional Airport (HLN) offers direct flights to Denver, Salt Lake City, and Seattle, linking investors and employers to national business centers. For those seeking a low-risk, high-stability market with strong public-sector anchors and growing regional influence, Helena stands out as a smart, long-term investment destination within the Northern Rockies.
Adding to stability is the region’s booming healthcare economy. St. Peter’s Health (1.5 miles), a 99-bed hospital and regional medical hub, is the largest private employer with over 3,000 employees. Additionally, Shodair Children’s Hospital (1.7 miles) and the Fort Harrison VA Medical Center (6.3 miles) contribute significantly to Helena’s status as a regional center for specialized healthcare. Health insurance giant Blue Cross Blue Shield of Montana (2.8 miles) also maintains a large campus in Helena, employing nearly 300 professionals.
Higher education further supports economic diversity and talent development. Carroll College (2.5 miles), a private liberal arts institution, and Helena College (1.0 miles), part of the University of Montana system, both offer academic and vocational training that feeds into the city’s healthcare, technology, and aerospace sectors. Notably, Boeing (3.7 miles) maintains a manufacturing facility in Helena and collaborates directly with Helena College to train aerospace and manufacturing talent. In recent years, fintech firms such as SoFi (2.2 miles) have also established operations in Helena.
Helena Regional Airport (2.8 miles) enhances the city's connectivity and economic competitiveness, offering commercial air service that supports business travel, government operations, and tourism. Its accessibility is a strategic asset for attracting investment and facilitating regional mobility.
Beyond its economic resilience, Helena is rich in cultural, historic, and recreational assets that generate year-round demand for housing, tourism, and hospitality services. The city’s downtown, anchored by the Grandstreet Theatre (2.2 miles)—one of the largest community theaters in Montana—hosts a full season of performances and educational programming. The Helena Civic Center (2.4 miles), a historic venue and regional hub for concerts, conferences, and cultural events, adds to the city’s vibrancy and ability to attract regional audiences and events. Historic landmarks such as the Cathedral of St. Helena (1.9 miles), and the Montana State Capitol (1.5 miles) draw a steady stream of heritage-focused tourism. Fort Harrison (6.0 miles), home to the Montana National Guard and the Montana Military Museum, also attract visitors and supports veteran-related services. The upcoming, Montana Heritage Center will be opening at the end of 2025.
Outdoor recreation is a key lifestyle draw. Mount Helena City Park (3.3 miles) offers 600+ acres of accessible hiking, mountain biking, and panoramic city views, while neighboring Mount Ascension Park (2.8 miles) adds even more terrain for outdoor enthusiasts, with a network of challenging trails that appeal to advanced hikers and mountain bikers. Spring Meadow Lake State Park (4.5 miles) provides a family-friendly destination for swimming, fishing, and paddle boarding. The Great Northern Carousel (2.0 miles), located in the heart of Helena’s downtown, remains a beloved attraction for both residents and tourists.
Helena, Montana is experiencing strong economic momentum, driven by strategic investments in housing, infrastructure, education, and business development. In East Helena alone, over 2,300 new housing units are planned, alongside key infrastructure upgrades like a $3.6 million wastewater system and new water pipelines to support streamlined development. Transportation is also a priority, with $4.5 million in federal funding allocated for projects that will improve connectivity to I-15 and Highway 12, open land for development, and enhance public safety. The city’s Helena Forward initiative is reshaping land use policy to guide smart, inclusive growth, while the Railroad Urban Renewal TIF District continues to revitalize downtown and attract redevelopment. Education infrastructure is set to expand significantly as the public school district prepares a bond proposal to build a new high school and address long-standing maintenance needs. Meanwhile, Helena’s business and tech sectors are growing steadily, supported by Opportunity Zone incentives and a rising number of professional service firms like Tempest Technologies, Can-Do Ideas, PayneWest Insurance, and Figure Technologies. Altogether, these coordinated efforts position Helena for sustainable, balanced growth, with an emphasis on livability, innovation, and long-term resilience.
BROKER OF RECORD
Adam Christofferson
Montana
P: (801) 736-2300
Lic #: MT: RRE-BRO-LIC-15748
