Building Details

Year Built 1999

Listing Agency: Impact Real Estate Montana

Listed By: Jennifer Williams Show Phone

Source: Westmontanahomes

Added: Jun 21 Changed: Oct 1 Last Checked: Oct 14 at 11:51PM

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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 Impact Real Estate Montana

Investment Insights

Based on property information with market context.

Units 3 and 4 at Partridge Square Business Condominiums are offered together as a 2,154-square-foot retail property. The space is zoned B-2, was built in 1999, and is currently leased to The Tannery. The sale includes the real estate only; the operating business does not convey.

The property is located at 1040 Partridge Place in Helena, across from Target and off Montana Avenue. Parking is available for employees and customers. The two-unit configuration provides a combined storefront setting within the business condominium development.

Key Highlights

• Two units offered together: Partridge Square Business Condominiums Units 3 and 4
• 2,154 square feet of retail space
• B‑2 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,081

Cap Rate

5.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$561,620 $561.6K

Cap Rate 7%

$401,157 $401.2K

Cap Rate 9%

$312,011 $312.0K

Market Conditions

NOI Build-Up for 2,154 SF

Gross rent

$41.4K $19.20/SF

− Vacancy

−$1.2K −$0.58/SF

EGI

$40.1K $18.62/SF

− OpEx

−$12.0K −$5.59/SF

NOI

$28.1K $13.04/SF

Area

Lewis and Clark County, MT

Vacancy

3.00%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$561,620

Cap Rate 7%

$401,157

Cap Rate 9%

$312,011

Alternative Uses

Best Use

Retail

$401.2K

$351.0K – $468.0K (±1% cap)

NOI $28,081 @ 7.0% cap · market cap 5.92%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$467.9K

$409.4K – $545.9K (±1% cap)

NOI $32,755 @ 7.0% cap · market cap 6.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Quality Vision Care Ophthalmologist Knapp Insurance Agency Insurance Agency The Tannery Tanning Salon Endurance Chiropractic Alternative Medicine Practice Jenet A. Melton, OD Physician

Suggested Use

Top Pick Law Firm HVAC Service Plumbing Service Parking Lot & Garage Bakery Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

532

Businesses Nearby

309k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Superstores 21% Shops & Services 21% Apparel 17% Dining 15%

Target Superstores

66,005 visits/mo 0.3 miles

Murdoch's Ranch & Home Supply Home Improvements & Furnishings

37,513 visits/mo 0.4 miles

McDonald's Dining

33,454 visits/mo 0.4 miles

Albertsons Groceries

31,313 visits/mo 0.4 miles

Ross Dress for Less Apparel

19,998 visits/mo 0.3 miles

Demographics for 59602, MT

29,390

Population

12,091

Households

2.4

Avg Household Size

42

Median Age

39%

College-Educated

94%

High-School Grad

524.3 sq mi

ZIP Area

56

Density / Sq Mi

$87,841

Median Household Income

$49,580

Median Earnings

$1,291

Median Rent

$369,800

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - B-2-zoned retail condominium with an existing tenant and parking for employees and customers.

Where is this storefront property located?

The property is located at 1040 Partridge Pl Unit 3 & 4 Helena, MT.

What is the asking price?

The asking price for this property is $474,000.

What are key features of this property?

This property features: Two units offered together: Partridge Square Business Condominiums Units 3 and 4; 2,154 square feet of retail space; B‑2 zoning