Flex Warehouse with Overhead
525-515 Michigan Avenue, Missoula, MT 59802
New
Move-in-ready flex warehouse space with overhead garage doors, utilities, and on-site storage for multiple commercial uses.
Type:Commercial
Property size:
3,781 SFPrice / SF:
$191/SF- Added:
- Jun 12, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 13 at 2:38 am
Property Features for 525-515 Michigan Avenue
General Information
- Standard status
- Active
- Size
- 3,781 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1961
Listing agent Julie McLennan
Listing office Ink Realty Group
Listing date Jun 12, 2026
Source Clearwaterproperties
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 Ink Realty Group
HighLights
- 3,781 SF mixed‑use commercial building at 525‑515 Michigan Ave in East Missoula, currently set up for two separately metered tenant spaces
- 525 Michigan Ave: 2,845 SF with 15‑ft ceilings, gas shop heater, 10‑ft overhead garage door, 3‑phase power, 220V, private office (exterior access), and bathroom with shower
- 525 includes a 43' x 19' second‑floor mezzanine for additional storage; occupied by a painting business since 2018
- 515 Michigan Ave: 936 SF with heating/cooling/plumbing, 220V, and two 10‑ft overhead garage doors; interior wall splits into two work areas with a half bath and utility sink
- Zoned Neighborhood Center; paved parking with RV access/parking and dedicated space for larger vehicles and trailers plus a divided railroad storage container with access from both ends
- Property updates include Therma‑Star by Pella windows and recent roof maintenance; 525 rents for $2,700/mo modified gross lease and 515 could rent for $2,200/mo modified gross lease (vacant)
Overview
This mixed-use flex and warehouse property at 525-515 Michigan Avenue consists of two separately metered tenant spaces. The 525 portion includes a larger work area with 15-foot ceilings, a gas shop heater, 10-foot overhead garage door, and 3-phase power with 220V service. It also features a private office with exterior access and a bathroom with vanity, toilet, and shower. Additional storage is provided by a second-floor mezzanine measuring 43 feet by 19 feet. This unit has been occupied by a painting business since 2018.
The 515 portion offers heating and cooling, plumbing, and two 10-foot overhead garage doors, along with 220V power. An interior wall divides the area into two functional work sections, and there is a half bath with a utility sink, water heater, and toilet. Both spaces present a clean, updated interior with fresh paint and durable aluminum wall finishes. The property is complemented by paved parking, dedicated space for larger vehicles and trailers, and a divided railroad storage container with access from both ends.
Zoned Neighborhood Center, the building is positioned for a range of neighborhood commercial and light industrial-oriented operations, as reflected in the listing’s stated example uses such as studios and retail service concepts. Updates include Therma-Star by Pella windows and recent roof maintenance completed by Western Montana Roofing. The site is located in the heart of East Missoula, about one block from Highway 200 East, with convenient access to the I-90 corridor and Marshall Mountain Recreation Park.
The 515 portion offers heating and cooling, plumbing, and two 10-foot overhead garage doors, along with 220V power. An interior wall divides the area into two functional work sections, and there is a half bath with a utility sink, water heater, and toilet. Both spaces present a clean, updated interior with fresh paint and durable aluminum wall finishes. The property is complemented by paved parking, dedicated space for larger vehicles and trailers, and a divided railroad storage container with access from both ends.
Zoned Neighborhood Center, the building is positioned for a range of neighborhood commercial and light industrial-oriented operations, as reflected in the listing’s stated example uses such as studios and retail service concepts. Updates include Therma-Star by Pella windows and recent roof maintenance completed by Western Montana Roofing. The site is located in the heart of East Missoula, about one block from Highway 200 East, with convenient access to the I-90 corridor and Marshall Mountain Recreation Park.
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.7k | $21.60 |
| − Vacancy | −$9.8k | −$2.59 |
| EGI | $71.9k | $19.01 |
| − OpEx | −$25.2k | −$6.65 |
| NOI | $46.7k | $12.36 |
3,781 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$667.4K
$583.9K – $778.6K
NOI $46,715 @ 7.0% cap · market cap 6.44%
Second Best
Retail
$667.0K
$583.6K – $778.1K
NOI $46,688 @ 7.0% cap · market cap 6.44%
Theoretical Best
Specialty Retail
$1.09M
$953.9K – $1.27M
NOI $76,310 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Flex space
Location Insight
- Map
- Local Demand
- City
- Missoula
- County
- Missoula
- State
- Montana
- Longitude
- -113.9434153
- Latitude
- 46.8733483
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Move-in-ready flex warehouse space with overhead garage doors, utilities, and on-site storage for multiple commercial uses.
Where is this flex space located?
The property is located at 525-515 Michigan Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,781 SF mixed‑use commercial building at 525‑515 Michigan Ave in East Missoula, currently set up for two separately metered tenant spaces; 525 Michigan Ave: 2,845 SF with 15‑ft ceilings, gas shop heater, 10‑ft overhead garage door, 3‑phase power, 220V, private office (exterior access), and bathroom with shower; 525 includes a 43' x 19' second‑floor mezzanine for additional storage; occupied by a painting business since 2018
