Updated Mixed-Use
For Sale
$1,500,000
302/304 2nd Avenue W, Kalispell, MT 59901
CommercialSale, Kalispell, MT
Property Size12,000 SF
Lot Size0.16 Acres
Price / SF$125
Days on Market141
Property Features for 302/304 2nd Avenue W
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Zoning description
6
Rooms
Basement
Parking
8
Parking features
On Street, Alley
Interior features
OpenFloorplan
Lot features
Level
View
Mountains, City
Directions
2nd Ave West, South to 302 on right
Standard status
Active
APN
07396618138010000
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 001, BLK 068, KAL, in s18-T28N-R21W
Tax Annual Amount
16608
Legal Description
Lot 001, BLK 068, KAL, in s18-T28N-R21W
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Wall Unit(s)
Water source
Public
Amenities
on and off-street parking
alley shipping and receiving door
overnight parking for tenants
Building Details
Year built
1900
Number of units
4
Flooring type
Laminate, Concrete, Carpet
Building materials
Block, WoodFrame
Roof type
Rubber
Listing Agency:
Keller Williams Realty Northwest Montana
(406) 752-4700
Listed By:
Ted Dykstra Jr · License #RRE-BRO-LIC-10713
(406) 249-8345
Added: Apr 25
Changed: Sep 12
Last Checked: Sep 12 at 8:06AM
MLS# 30068983
Copyright © 2026 Montana Regional MLS. 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 combines an open-span ground floor suited to retail use with three upstairs apartments reached through private entrances. The residential component includes two studio units and a three-bedroom, one-bath owner’s unit. The basement is designated for storage only. Interior updates include remodeled finishes, while building systems include forced-air natural gas heat and wall-unit cooling. The structure was built in 1900 and occupies 0.163 acres.
Located at 302/304 2nd Avenue W in Kalispell, the corner lot provides both on-street and alley parking. An alley shipping and receiving door supports property access, and overnight tenant parking is available. The property is across from Black Rifle Coffee and the Downtown Post Office, one block from Sykes Diner, a barber shop, banks, shopping, and restaurants, and three blocks from the Kalispell Police and Fire Departments. The sale includes the real estate only; the business is excluded.
Located at 302/304 2nd Avenue W in Kalispell, the corner lot provides both on-street and alley parking. An alley shipping and receiving door supports property access, and overnight tenant parking is available. The property is across from Black Rifle Coffee and the Downtown Post Office, one block from Sykes Diner, a barber shop, banks, shopping, and restaurants, and three blocks from the Kalispell Police and Fire Departments. The sale includes the real estate only; the business is excluded.
Key Highlights
- Open‑span ground floor with retail use potential
- Three upstairs apartments: two studios and one 3‑bedroom, 1‑bath unit
- 0.163‑acre corner lot at 302/304 2nd Avenue W
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
$112,000
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
7.47%
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%
$2,240,000
$2.2M
Cap Rate 7%
$1,600,000
$1.6M
Cap Rate 9%
$1,244,444
$1.2M
Market Conditions
NOI Build-Up for 12,000 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
$211.7K $17.64/SF
− Vacancy
−$8.0K −$0.67/SF
EGI
$203.6K $16.97/SF
− OpEx
−$91.6K −$7.64/SF
NOI
$112.0K $9.33/SF
Area
Flathead County, MT
Vacancy
3.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,240,000
Cap Rate 7%
$1,600,000
Cap Rate 9%
$1,244,444
Alternative Uses
Best Use
Retail
$2.43M
$2.13M – $2.84M
NOI $170,226 @ 7.0% cap · market cap 11.35%
Second Best
Apartment 5plus
$1.60M
$1.40M – $1.87M
NOI $112,000 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$2.68M
$2.34M – $3.13M
NOI $187,546 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Open retail space is paired with three upstairs apartments and basement storage on a corner lot.
Where is this mixed-use property located?
The property is located at 302/304 2nd Avenue W Kalispell, MT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Open‑span ground floor with retail use potential; Three upstairs apartments: two studios and one 3‑bedroom, 1‑bath unit; 0.163‑acre corner lot at 302/304 2nd Avenue W
