Fenced Flex Space with Covered
New
For Sale
$735,000
15 S Meridian Road, Kalispell, MT 59901
CommercialSale, Kalispell, MT
Property Size2,982 SF
Lot Size0.60 Acres
Price / SF$246.48
Days on Market5
Property Features for 15 S Meridian Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Business
Zoning description
B-3
Parking features
Alley, Gated, Driveway
Lot features
Level
Directions
Entrance is East of Meridian between Big Sky Glass and Read Enterprises. Just South of Center street.
Standard status
Active
APN
07396618245100000
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S18,T28 N, R21W, C.O.S. 13659-2, TR SDDB IN L 1
Tax Annual Amount
5109
Legal Description
S18,T28 N, R21W, C.O.S. 13659-2, TR SDDB IN L 1
Utilities
Heating system
Ductless (Heating)
Water source
Public
Building Details
Year built
1945
Building materials
WoodSiding, WoodFrame
Listing Agency:
PureWest Real Estate - Kalispell
(406) 751-5600
Listed By:
Wendy R Brown · License #RRE-BRO-LIC-16871
(406) 249-0266
Added: Sep 22
Changed: Sep 25
Last Checked: Sep 26 at 7:06AM
MLS# 30078220
Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,982-square-foot flex space occupies a 0.60-acre business-zoned site in Kalispell. The property includes a wood-frame building with wood siding, ductless heating, perimeter fencing, and gated access. Five covered parking bays and an open-sided cover provide dedicated areas for vehicles, equipment, or storage.
Access is available from both the street and alley through an easement. The site also has driveway parking, public water service, and a 1945 construction date. Its combination of enclosed shop space, covered bays, fencing, and dual access supports a range of commercial and equipment-oriented operations.
Access is available from both the street and alley through an easement. The site also has driveway parking, public water service, and a 1945 construction date. Its combination of enclosed shop space, covered bays, fencing, and dual access supports a range of commercial and equipment-oriented operations.
Key Highlights
- 2,982 SF flex space on a 0.60‑acre site
- Business zoning supports commercial use
- Five covered parking bays plus an open‑sided cover
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
$27,330
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
3.72%
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%
$546,600
$546.6K
Cap Rate 7%
$390,429
$390.4K
Cap Rate 9%
$303,667
$303.7K
Market Conditions
NOI Build-Up for 2,982 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
$44.7K $15.00/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$42.0K $14.10/SF
− OpEx
−$14.7K −$4.94/SF
NOI
$27.3K $9.17/SF
Area
Flathead County, MT
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$546,600
Cap Rate 7%
$390,429
Cap Rate 9%
$303,667
Alternative Uses
Best Use
Flex RnD
$390.4K
$341.6K – $455.5K
NOI $27,330 @ 7.0% cap · market cap 3.72%
Second Best
Industrial
$256.3K
$224.3K – $299.0K
NOI $17,941 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$665.8K
$582.6K – $776.8K
NOI $46,605 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Business-zoned shop property offers gated access and room for equipment storage.
Where is this flex space located?
The property is located at 15 S Meridian Road Kalispell, MT.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 2,982 SF flex space on a 0.60‑acre site; Business zoning supports commercial use; Five covered parking bays plus an open‑sided cover
