Historic Office
1005 Gerald Ave, Missoula, MT 59801
For Sale
Contact for pricing
National Register-listed property with adaptable space and U-R4 zoning for office, medical, wellness, or educational uses.
Property Size18,875 SF
Price / SF$137.75
Days on Market103
Property Features for 1005 Gerald Ave
General Information
Standard status
Size
Property subtype
Zoning
Building Details
Buildings
Listing Agency:
Sterling CRE Advisors
(406) 203-4547
Listed By:
Joe Tredik · License MT RRE-RBS-LIC-108330
(406) 546-4752
Source:
Moodyscre
Added: Jul 30
Changed: Nov 9
Last Checked: Nov 8 at 3:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sterling CRE Advisors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The John R. Toole House is a National Register-listed historic office property with approximately 13,977 square feet above grade and an additional 4,898 square feet of below-grade space. Its existing character and flexible configuration support consideration of professional office, boutique medical or wellness, institutional, educational, and residential condominium concepts subject to historic preservation standards.
The property is located at 1005 Gerald Avenue in Missoula’s University District and carries adopted U-R4 zoning. The historic designation provides eligibility for the Federal 20% Historic Tax Credit and Montana’s 5% Historic Tax Credit for qualified rehabilitation work. The asset may suit an owner-user or mission-driven investor seeking a distinctive property with multiple redevelopment pathways.
The property is located at 1005 Gerald Avenue in Missoula’s University District and carries adopted U-R4 zoning. The historic designation provides eligibility for the Federal 20% Historic Tax Credit and Montana’s 5% Historic Tax Credit for qualified rehabilitation work. The asset may suit an owner-user or mission-driven investor seeking a distinctive property with multiple redevelopment pathways.
Key Highlights
- National Register‑listed historic property at 1005 Gerald Ave, Missoula, MT 59801
- Approximately ±13,977 square feet above grade
- Additional ±4,898 square feet of below‑grade space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$219,988
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,399,760
$4.4M
Cap Rate 7%
$3,142,686
$3.1M
Cap Rate 9%
$2,444,311
$2.4M
Market Conditions
NOI Build-Up for 18,875 SF
Gross rent
$396.4K $21.00/SF
− Vacancy
−$103.1K −$5.46/SF
EGI
$293.3K $15.54/SF
− OpEx
−$73.3K −$3.89/SF
NOI
$220.0K $11.66/SF
Area
Missoula County, MT
Vacancy
26.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,399,760
Cap Rate 7%
$3,142,686
Cap Rate 9%
$2,444,311
Alternative Uses
Best Use
Office B
$3.14M
$2.75M – $3.67M
NOI $219,988 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.44M
$4.76M – $6.35M
NOI $380,945 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Office buildings in Missoula
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - National Register-listed property with adaptable space and U-R4 zoning for office, medical, wellness, or educational uses.
Where is this office building located?
The property is located at 1005 Gerald Ave Missoula, MT.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: National Register‑listed historic property at 1005 Gerald Ave, Missoula, MT 59801; Approximately ±13,977 square feet above grade; Additional ±4,898 square feet of below‑grade space
