Live-Work Retail Office
For Sale
$800,000
494 N Main Street, Kalispell, MT 59901
Two-building property with three potential business spaces and separate Main St and California St addresses.
Property Size2,884 SF
Price / SF$277.39
Days on Market38
Property Features for 494 N Main Street
General Information
Standard status
Active
Size
2,884 SF
Zoning
B-1 Neighborhood Business
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
2,884 SF
Year Built
2001
Listing Agency:
Lifetime Montana Real Estate
(406) 253-6533
Listed By:
Tricia Brisendine · License #RRE-BRO-LIC-63245
Source:
Purewestrealestate
Added: Jul 15
Changed: Aug 14
Last Checked: Aug 21 at 5:09AM
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 Lifetime Montana Real Estate
Investment Insights
Based on property information with market context.
This for-sale commercial property includes two separate buildings designed to support multiple occupancies. The main building at 494 N Main Street was built in 1940 and includes 672 SF plus a 480 SF crawl space. The detached second building comprises two spaces at 18 & 20 California St, built in 2001, totaling 1,732 SF across 888 SF and 844 SF units.
The property is positioned along Highway 93 / Main Street frontage, providing frontage along a heavily used corridor with Main Street access.
Overall, the combined buildings offer 2,884 SF of usable space and three potential leasable business spaces across the two structures, with the main building featuring two separate addresses for lower- and upper-level options.
The property is positioned along Highway 93 / Main Street frontage, providing frontage along a heavily used corridor with Main Street access.
Overall, the combined buildings offer 2,884 SF of usable space and three potential leasable business spaces across the two structures, with the main building featuring two separate addresses for lower- and upper-level options.
Key Highlights
- Two separate commercial buildings with three potential leasable business spaces on one property
- Main building at 494 Main St built in 1940: 672 SF plus a 480 SF crawl space
- Main building includes two separate addresses for possible upper/lower level occupancy (494 Main St and ? per listing: 18 & 20 California St)
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
$34,197
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
4.27%
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%
$683,940
$683.9K
Cap Rate 7%
$488,529
$488.5K
Cap Rate 9%
$379,967
$380.0K
Market Conditions
NOI Build-Up for 2,884 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
$53.6K $18.60/SF
− Vacancy
−$8.0K −$2.79/SF
EGI
$45.6K $15.81/SF
− OpEx
−$11.4K −$3.95/SF
NOI
$34.2K $11.86/SF
Area
Flathead County, MT
Vacancy
15.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
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%
$683,940
Cap Rate 7%
$488,529
Cap Rate 9%
$379,967
Alternative Uses
Best Use
Office B
$488.5K
$427.5K – $570.0K
NOI $34,197 @ 7.0% cap · market cap 4.27%
Second Best
Mixed Use
$290.5K
$254.2K – $338.9K
NOI $20,332 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$643.9K
$563.4K – $751.2K
NOI $45,073 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,643
Businesses Nearby
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Two-building property with three potential business spaces and separate Main St and California St addresses.
Where is this live-work space located?
The property is located at 494 N Main Street Kalispell, MT.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two separate commercial buildings with three potential leasable business spaces on one property; Main building at 494 Main St built in 1940: 672 SF plus a 480 SF crawl space; Main building includes two separate addresses for possible upper/lower level occupancy (494 Main St and ? per listing: 18 & 20 California St)
