An entire town located less than an hour from the iconic Yellowstone National Parkis up for sale for a shockingly low price. For just $2.6 million, you could be the proud new owner of an entire town just outside of gorgeous Yellowstone National Park. The town of Pray, located in the heart of Paradise Valley in southern Montana, offers a unique combination of history, charm, and investment opportunity.
Founded in 1907, Pray has its own zip code and a post office and includes a historic General Store that has stood the test of time. This town has already generated a staggering $300,000 in rental income in 2023, making it an attractive prospect for prospective buyers. With expectations of continued growth in rental income through 2024 and 2025, this venture could quickly turn into a profitable real estate investment.
Unlocking the Potential of Pray
Pray's rental income reportedly comes from five housing units, which include three beautiful Amish cabins constructed by Mill Canyon Log Homes in Idaho. These cabins are praised for their sturdy construction using 10-inch logs in the traditional Swedish cope style, making them a desirable option for renters. Mike Rutkowski, the town's listing agent from eXp Realty, emphasizes that the current infrastructure allows for further development, including plans for eight or nine additional cabins in a spacious 5-acre field that lies just beyond the main properties.
While the existing rental income is impressive, the potential for tourism growth in the area is equally intriguing. Pray is positioned well to attract visitors passing through on their way to the numerous tourist attractions near Yellowstone, which include Pine Creek Lodge and the Chico Hot Springs. With the scenic backdrop of Montana's landscapes, there’s a golden opportunity to create a hub for travelers seeking adventure.
Flexible Zoning and Development Opportunities
One of Pray’s most attractive attributes is its lack of zoning laws, which offers buyers the flexibility to develop the town as they see fit. This means new owners could choose to preserve the existing historic charm, or pivot the focus towards a thriving tourist market. The possibility of building luxury homes—or even a combination of both—positions Pray as a versatile property with numerous pathways to profitability.
The community spirit in Pray is also apparent. Although the influx of luxury developments is changing the landscape, locals hold a strong appreciation for their town’s history. The General Store serves as a local landmark, once a place where families weighed their newborns on a meat scale, creating a rich history that connects the past to the present.
A Tourist Destination in the Making
The traffic analysis of the surrounding area reveals a staggering 400,000* travelers pass by on Highway 89 each year en route to Yellowstone. Experts believe that with a little effort, Pray could capitalize on this traffic, turning brief visits into longer stays filled with experiences. Future owners may consider strategies to channel this visitor traffic, appealing to tourists looking for authentic experiences rooted in the spirit of the Old West.
Prospective buyers have shown interest in preserving historical landmarks such as Pray Bar and the town’s post office. Since Pray is not listed on the National Register of Historic Places, there is the potential for creative development that honors the past while inviting new opportunities. This mix of preservation and innovation could lead to a rich tourist destination that stands out in the marketplace.
Economic Viability and Future Growth
With a shrinking pool of available properties and rising real estate prices across Montana, acquiring an entire town is a once-in-a-lifetime prospect. The building blocks for growth—uniquely constructed cabins, established rental income properties, and tourist proximity—combine to create a compelling narrative of economic viability. For investors seeking to buy a town near Yellowstone, Pray represents a significant opportunity for expansion.
Achieving profitability in Pray isn’t without its challenges, but the rewards could be transformative. As described by Rutkowski, the opportunities to attract visitors while celebrating history could create a legacy that draws families and adventurers alike. The flexibility in development could encourage diverse business models, from rustic retreats to charming inns that honor the spirit of the Old West.
Historical and economic factors aside, owning Pray means taking on responsibility for the community, which brings its own rewards. Preserving the history while inviting new businesses to thrive ensures that Pray remains a beloved destination for both locals and tourists.
A Community Awaits You
Imagine being the steward of a *living* historical site. The people, the scenery, and the history are all integral parts of Pray, Montana. Travelers who come through often return to capture pictures of the charming General Store or experience the town's rich past. This ethos fosters connections that last.
Investing in Pray isn’t just a good business decision; it’s a chance to create a lasting legacy. With the entire community at your fingertips, the options are virtually limitless. The potential for tourism growth, development, and rental income in beautiful Montana make this town a treasure waiting for its next chapter.
Whether you are looking to invest in real estate in Montana**, build a luxury getaway, or restore a piece of Americana, now is the time to seize this unique opportunity. Take the first step toward making Pray your own, a town that offers a vision shaped by creativity, community, and adventure.