Three-Suite Retail
For Sale
Contact for pricing
101 E Broadway St, Missoula, MT 59802
Downtown corner retail property with basement storage, two leased suites, and a third suite expected to open this spring.
Property Size18,340 SF
Price / SF$134.95
Days on Market14
Property Features for 101 E Broadway St
General Information
Standard status
Active
Size
18,340 SF
Property subtype
RETAIL
Site & Location
Corner Location
Yes
End Cap
Yes
Anchor Co-Tenants
Dana Gallery
Building Details
Tenancy
Multi
Listing Agency:
Sterling CRE Advisors
(406) 370-6424
Listed By:
Connor McMahon · License ##88267
(406) 370-6424
Source:
Moodyscre
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 2 at 2:08AM
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 18,340-square-foot retail condominium is configured as three separate suites within a downtown Missoula commercial property. Two suites are occupied by established long-term tenants, while the remaining suite is expected to become available this spring. A substantial basement adds storage capacity and may support separately leased storage space.
The property occupies the corner of North Higgins Avenue and West Broadway, with exposure to both pedestrian and vehicular activity. It serves as an end-cap within an active retail block that includes Dana Gallery, a recognized visitor destination. The existing suite arrangement accommodates both continued multi-tenant operation and potential owner occupancy, subject to the applicable lease and use terms.
The property occupies the corner of North Higgins Avenue and West Broadway, with exposure to both pedestrian and vehicular activity. It serves as an end-cap within an active retail block that includes Dana Gallery, a recognized visitor destination. The existing suite arrangement accommodates both continued multi-tenant operation and potential owner occupancy, subject to the applicable lease and use terms.
Key Highlights
- 18,340 SF retail condominium with three separate suites
- Two suites leased to established long‑term tenants
- Third retail suite expected to become available this spring
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
Current Use
Lease Details
Multi-tenant
Tenancy
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 - Downtown corner retail property with basement storage, two leased suites, and a third suite expected to open this spring.
Where is this retail space located?
The property is located at 101 E Broadway St 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: 18,340 SF retail condominium with three separate suites; Two suites leased to established long‑term tenants; Third retail suite expected to become available this spring
