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    Commercial Building in Glendive, Montana Title is generated by Realmo AI

    301 N Merrill Ave, Glendive, MT 59330

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    For Sale
    $342,000

    Commercial Building - Glendive, MT

    Property size:
    7,116 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $48/SF
    Added:
    Sep 6, 2025
    Days on Market:
    274
    Last Refresh:
    Jun 6 at 5:06 pm

    Property Features for 301 N Merrill Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Interior features
    Flooring- Laminate, Flooring- Carpet
    Exterior features
    Corner Lot, View Of City
    Standard status
    Active
    APN
    1626123512308000
    Size
    7,116 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1908
    Building materials
    Brick, Other, Unknown
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Eric Smeltzer

    Listing agent Eric Smeltzer

    Listing office Smeltzer Auctions & Real Estate 203 Highland Park Road, Glendive, MT

    Listing date Sep 6, 2025

    MLS# 331339 Listing URL

    Copyright © 2026 Glendive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large 7116 Sq Ft main floor retail space with basement.
    • Handicapped accessible with multiple front and back entrances.
    • Potential for 5‑6 storefront divisions with individual bathrooms.
    • Includes 3 FANG furnaces and 3 central AC units.
    • Corner lot with view of city.
    • Existing tenant (beauty salon) with laminated flooring and multiple rooms.

    Overview

    The subject property is a brick and concrete, wood-framed building with 7116 square feet on the main floor and a basement. The building is handicapped accessible, with all retail space located on the same level. It features six entrance doors at the front and multiple back doors. The property is equipped with three FANG furnaces and three CA units. The main floor could be divided into at least five or six storefronts, offering multiple large spaces with smaller rooms in the rear, plus half bathrooms for each. Currently, one space is leased by a beauty salon. This section has two front entrances (one closed off) and one rear entrance. The salon space includes laminated flooring, five rooms, a laundry room, and a half bathroom. It also features a water fountain for filling bottles and a wash sink, with central air and FANG heat supplied from the adjacent space. The roof appears to be in good condition. The property is located in Glendive, Montana, in Dawson County, with a lot size of 0.17 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Glendive
    County
    Dawson
    State
    Montana
    Longitude
    -104.711776
    Latitude
    47.106512

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    FAQs

    What type of property is this?
    Retail space - 7116 sq ft commercial building suitable for multiple storefronts.
    Where is this retail space located?
    The property is located at 301 N Merrill Ave Glendive, MT.
    What is the asking price?
    The asking price for this property is $342,000.
    What are key features of this property?
    This property features: Large 7116 Sq Ft main floor retail space with basement.; Handicapped accessible with multiple front and back entrances.; Potential for 5‑6 storefront divisions with individual bathrooms.
    (406) 377-1169
    We can help!
    Listing Contact
    Eric Smeltzer
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    301 N Merrill Ave, Glendive, MT 59330
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