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.