High-Traffic Shop with Fenced
For Sale
$1,150,000
1021 15th Street N, Great Falls, MT 59401
0.62 acre property with 7,460 SF shop in Great Falls.
Property Size8,304 SF
Lot Size0.62 Acres
Price / SF$154.16
Days on Market151
Property Features for 1021 15th Street N
General Information
Standard status
Active
Size
8,304 SF
Lot size
0.62 Acres
Property subtype
Commercial
Zoning
Mixed Use Transitional M-2
Taxes and HOA fees
Annual Taxes
$8,424
Building Details
Building Size
8,304 SF
Year Built
1973
Listing Agency:
Montana's Best Realty
(406) 899-0857
Listed By:
Robin McKnight · License #RRE-RBS-LIC-17672
(406) 899-0857
Source:
Avatarrealtymt
Added: Mar 26
Changed: Aug 23
Last Checked: Aug 22 at 7:24AM
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 Montana's Best Realty
Investment Insights
Based on property information with market context.
Located in a high-traffic area of Great Falls, Montana, this 0.62-acre property features a 7,460 square foot shop with drive-through doors leading to a fenced back lot. The property previously housed an auto body and mechanic business. The building includes an updated and air-conditioned office space and an adjoining reception area. The shop is equipped with multiple heaters, including one oil burner, two hoists, a 15-horsepower compressor, a down-draft paint booth, and two air filtration systems, which are negotiable. This property presents opportunities for investors and entrepreneurs, and the building could be reconfigured to suit various needs.
Key Highlights
- Prime location in a high‑traffic area.
- Large 7460 sq ft shop suitable for various businesses.
- Drive‑through shop doors and fenced back lot.
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
$81,636
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
7.10%
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%
$1,632,720
$1.6M
Cap Rate 7%
$1,166,229
$1.2M
Cap Rate 9%
$907,067
$907.1K
Market Conditions
NOI Build-Up for 7,460 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
$120.9K $16.20/SF
− Vacancy
−$4.2K −$0.57/SF
EGI
$116.6K $15.63/SF
− OpEx
−$35.0K −$4.69/SF
NOI
$81.6K $10.94/SF
Area
Cascade County, MT
Vacancy
3.50%
Lease Rate
$16.20 /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%
$1,632,720
Cap Rate 7%
$1,166,229
Cap Rate 9%
$907,067
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,636 @ 7.0% cap · market cap 7.10%
Second Best
Flex RnD
$935.2K
$818.3K – $1.09M
NOI $65,462 @ 7.0% cap · market cap 5.69%
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,626 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59401, MT
13,030
Population
6,921
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
3.0 sq mi
ZIP Area
4,343
Density / Sq Mi
$53,750
Median Household Income
$33,209
Median Earnings
$767
Median Rent
$206,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Auto Diagnostics & Repair — 815 16th St N, Great Falls, MT 59401
- Point S Jerry Noble — 1420 10th Ave N, Great Falls, MT 59401
- 9th St. Lube Quaker state — 215 9th St N, Great Falls, MT 59401
- Used Transmissions and Engines — Great Falls, MT 59401
- Fsw — 1005 11th St N, Great Falls, MT 59401
Frequently Asked Questions
What type of property is this?
Auto shop - 0.62 acre property with 7,460 SF shop in Great Falls.
Where is this auto shop located?
The property is located at 1021 15th Street N Great Falls, MT.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Prime location in a high‑traffic area.; Large 7460 sq ft shop suitable for various businesses.; Drive‑through shop doors and fenced back lot.
