Restored Mixed-Use Historic
New
For Sale
$3,129,000
141 S Main Street, Kalispell, MT 59901
Fully leased downtown property combines retail and office suites with a tenant-used basement.
Property Size14,000 SF
Price / SF$149
Days on Market4
Property Features for 141 S Main Street
General Information
Standard status
Active
Size
14,000 SF
Property subtype
Commercial
Zoning
Business, B-4 Central Business
Occupancy
100%
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$36,542
Building Details
Building Size
14,000 SF
Year Built
1901
Buildings
1
Tenancy
Multi
Abandoned
No
Listing Agency:
PureWest Real Estate - Kal/Commercial
(406) 250-7249
Listed By:
David G Stone
(406) 250-7249
Source:
Avatarrealtymt
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 6 at 12:38PM
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 PureWest Real Estate - Kal/Commercial
Investment Insights
Based on property information with market context.
The Ford Building is a fully leased mixed-use property with restored retail and office suites in a 1901 building. The above-ground area contains 14,000 square feet, while a 7,000-square-foot basement is used by tenants but excluded from rent. Suites retain historic character alongside modern updates, supporting a combination of professional and retail occupants.
Positioned in Kalispell’s downtown historical district at 141 S Main Street, the property is zoned Business, B-4 Central Business. Reported vacancy averaged 0.5% over the past 3 years, and the property carries a 7+ cap rate. Planned nearby development within one block includes an 11,000-square-foot steakhouse and a 5-story hotel.
Positioned in Kalispell’s downtown historical district at 141 S Main Street, the property is zoned Business, B-4 Central Business. Reported vacancy averaged 0.5% over the past 3 years, and the property carries a 7+ cap rate. Planned nearby development within one block includes an 11,000-square-foot steakhouse and a 5-story hotel.
Key Highlights
- Fully leased mixed‑use building with retail and office suites
- 14,000 square feet above ground plus a 7,000‑square‑foot basement
- Tenant‑used basement area is excluded from rent
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
$249,008
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
7.96%
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%
$4,980,160
$5.0M
Cap Rate 7%
$3,557,257
$3.6M
Cap Rate 9%
$2,766,756
$2.8M
Market Conditions
NOI Build-Up for 21,000 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
$390.6K $18.60/SF
− Vacancy
−$58.6K −$2.79/SF
EGI
$332.0K $15.81/SF
− OpEx
−$83.0K −$3.95/SF
NOI
$249.0K $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%
$4,980,160
Cap Rate 7%
$3,557,257
Cap Rate 9%
$2,766,756
Alternative Uses
Best Use
Retail
$4.26M
$3.72M – $4.96M
NOI $297,896 @ 7.0% cap · market cap 9.52%
Second Best
Office B
$3.56M
$3.11M – $4.15M
NOI $249,008 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$4.69M
$4.10M – $5.47M
NOI $328,205 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,043
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?
Mixed-use property - Fully leased downtown property combines retail and office suites with a tenant-used basement.
Where is this mixed-use property located?
The property is located at 141 S Main Street Kalispell, MT.
What is the asking price?
The asking price for this property is $3,129,000.
What are key features of this property?
This property features: Fully leased mixed‑use building with retail and office suites; 14,000 square feet above ground plus a 7,000‑square‑foot basement; Tenant‑used basement area is excluded from rent
