This residential/agricultural parcel offers an attractive homesite with agricultural utility, water rights, and long-term land value. The property includes valuable water rights, enhancing its utility and long-term value while creating opportunities for agricultural production, specialty crops, hobby farming, greenhouse operations, or boutique agricultural enterprises. Complementing the adjacent commercial parcel (offered both individually or together MLS# 30075027) if purchased together, the properties create a rare opportunity to establish a true live/work campus, allowing an owner to operate a business while maintaining an adjacent residence. The combination also lends itself to innovative destination concepts such as an event venue, wedding venue, agritourism operation, experiential lodging, seasonal farm market, "pick-your-own" flower or specialty crop business, garden center, artisan marketplace, wellness retreat, or other complementary business models that benefit from both commercial exposure and agricultural character (subject to applicable approvals and regulations). This parcel is within the Hamel Acres Subdivision, CCR's Include: Permitted for agricultural operations. Limited to a single residential dwelling and attached or detached garage building. Any additional structures erected shall be for agricultural use only, subject to CAPS review and approval at the time of land use permit review. All structures shall be located within a 0.5 Acre Building Envelope. With continued population growth, increasing traffic along Interstate 90, and limited commercial land remaining at the Frenchtown interchange, opportunities of this caliber are becoming increasingly scarce. Whether you're an investor seeking future appreciation, a developer pursuing a signature project, or an owner-user looking to build a business with room to grow, this flexible offering presents a truly unique opportunity in the heart of Western Montana. *Pre-approval or proof of funds is required before scheduling a property tour.