Mixed-Use Building with High
New
For Sale
$579,000
1521 Cooper Street, Missoula, MT 59802
Missoula, MT
Property Size4,640 SF
Lot Size0.18 Acres
Price / SF$124.78
Days on Market3
Property Features for 1521 Cooper Street
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Lot size
0.18 Acres
Building Details
Year built
1955
Listing Agency:
Engel & Volkers Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Dawn Maddux · License #RRE-BRO-LIC-31860
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 2:06PM
MLS# 30067098
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes a 4,640-square-foot building on a 7,797-square-foot lot. The 1955 structure has 3,360 square feet on the main level, arranged with three high-ceiling areas and a lobby that creates a defined entrance. Two bathrooms are located on the lower level.
An additional 1,280 square feet occupies the upper level, providing enclosed space within the building’s multi-level configuration. C-14 zoning and the combination of open, high-ceiling areas, lobby space, bathrooms, and upper-level square footage support a range of commercial layouts, subject to applicable approvals and requirements.
An additional 1,280 square feet occupies the upper level, providing enclosed space within the building’s multi-level configuration. C-14 zoning and the combination of open, high-ceiling areas, lobby space, bathrooms, and upper-level square footage support a range of commercial layouts, subject to applicable approvals and requirements.
Key Highlights
- 4,640‑square‑foot building on a 7,797‑square‑foot lot
- C‑14 zoning
- 3,360 square feet on the main level
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,706
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$674,120
$674.1K
Cap Rate 7%
$481,514
$481.5K
Cap Rate 9%
$374,511
$374.5K
Market Conditions
NOI Build-Up for 4,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.2K $11.04/SF
− Vacancy
−$3.1K −$0.66/SF
EGI
$48.2K $10.38/SF
− OpEx
−$14.4K −$3.11/SF
NOI
$33.7K $7.26/SF
Area
Missoula County, MT
Vacancy
6.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$674,120
Cap Rate 7%
$481,514
Cap Rate 9%
$374,511
Alternative Uses
Best Use
Flex RnD
$819.0K
$716.6K – $955.5K
NOI $57,328 @ 7.0% cap · market cap 9.90%
Second Best
Industrial
$481.5K
$421.3K – $561.8K
NOI $33,706 @ 7.0% cap · market cap 5.82%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,647 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-14 zoning supports a flexible commercial layout with high-ceiling areas, an entry lobby, upper-level space, and two bathrooms.
Where is this mixed-use property located?
The property is located at 1521 Cooper Street Missoula, MT.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 4,640‑square‑foot building on a 7,797‑square‑foot lot; C‑14 zoning; 3,360 square feet on the main level
