Retail Condominium For
For Sale
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101 E Broadway, Missoula, MT 59802
Retail condominium with 18,340 square feet available for sale.
Property Size18,340 SF
Price / SF$134.95
Days on Market141
Property Features for 101 E Broadway
General Information
Standard status
Active
Size
18,340 SF
Property subtype
Retail
Zoning
D-C
Building Details
Year Built
1900
Year Renovated
1984
Buildings
1
Units
1
Listing Agency:
Sterling CRE Advisors
(425) 250-3290
Listed By:
Connor McMahon · License #MT RRE-RBS-LIC-88267
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 10 at 1:35PM
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
Investment Insights
Based on property information with market context.
This property is a retail condominium offering approximately 18,340 square feet of space. It is located at 101 E Broadway, Missoula, MT 59802.
Key Highlights
- Large retail space: ±18,340 sf
- Retail condominium
- Year built: 1900
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
$226,462
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
9.15%
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%
$4,529,240
$4.5M
Cap Rate 7%
$3,235,171
$3.2M
Cap Rate 9%
$2,516,244
$2.5M
Market Conditions
NOI Build-Up for 18,340 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
$330.1K $18.00/SF
− Vacancy
−$6.6K −$0.36/SF
EGI
$323.5K $17.64/SF
− OpEx
−$97.1K −$5.29/SF
NOI
$226.5K $12.35/SF
Area
Missoula County, MT
Vacancy
2.00%
Lease Rate
$18.00 /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%
$4,529,240
Cap Rate 7%
$3,235,171
Cap Rate 9%
$2,516,244
Alternative Uses
Best Use
Retail
$3.24M
$2.83M – $3.77M
NOI $226,462 @ 7.0% cap · market cap 9.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.29M
$4.63M – $6.17M
NOI $370,147 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
81
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail condominium with 18,340 square feet available for sale.
Where is this retail space located?
The property is located at 101 E Broadway Missoula, MT.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: Large retail space: ±18,340 sf; Retail condominium; Year built: 1900
