Corner Office
For Sale
$1,275,000
1520 S Russell Street, Missoula, MT 59801
CommercialSale, Missoula, MT
Property Size4,369 SF
Lot Size0.36 Acres
Price / SF$291.83
Days on Market211
Property Features for 1520 S Russell Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Business
Zoning description
B2-1
Directions
From Brooks St turn North on Russell St, the property will be on the NE corner of Mount and Russell.
Standard status
Active
APN
04220028201030000
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SOUTH MISSOULA, S28, T13 N, R19 W, BLOCK 98, Lot 13 - 16
Tax Annual Amount
13493
Legal Description
SOUTH MISSOULA, S28, T13 N, R19 W, BLOCK 98, Lot 13 - 16
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1979
Listing Agency:
PureWest Real Estate - Missoula
(406) 541-4000
Listed By:
David Jacob Wells · License #RRE-RBS-LIC-71532
(406) 640-1279
Added: Jan 22
Changed: Aug 20
Last Checked: Aug 21 at 3:06AM
MLS# 30064206
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 4,369-square-foot commercial building, constructed in 1979, is configured for office use with an updated interior and a rustic log-cabin exterior. The main floor contains 1,592 square feet, while the upper level provides 1,185 square feet. A finished 1,592-square-foot basement adds office space and can be reached from the main level or through its own outside entrance.
The property occupies 0.358 acres at the northeast corner of Russell Street and Mount Avenue in Missoula. Russell Street carries reported daily traffic of 10,632–14,938 vehicles, while Mount Avenue records 6,813–8,262 vehicles. Current access is from Mount Avenue, with on-site parking beside the building. Public water and public sewer serve the property, and heating is provided by forced air and natural gas.
The property occupies 0.358 acres at the northeast corner of Russell Street and Mount Avenue in Missoula. Russell Street carries reported daily traffic of 10,632–14,938 vehicles, while Mount Avenue records 6,813–8,262 vehicles. Current access is from Mount Avenue, with on-site parking beside the building. Public water and public sewer serve the property, and heating is provided by forced air and natural gas.
Key Highlights
- 4,369 SF commercial building on a 0.358‑acre parcel
- 1,592 SF main floor, 1,185 SF upper level, and 1,592 SF finished basement
- Basement office area has both interior and separate exterior access
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
$53,948
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
4.23%
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%
$1,078,960
$1.1M
Cap Rate 7%
$770,686
$770.7K
Cap Rate 9%
$599,422
$599.4K
Market Conditions
NOI Build-Up for 4,369 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
$78.6K $18.00/SF
− Vacancy
−$1.6K −$0.36/SF
EGI
$77.1K $17.64/SF
− OpEx
−$23.1K −$5.29/SF
NOI
$53.9K $12.35/SF
Area
Missoula County, MT
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,078,960
Cap Rate 7%
$770,686
Cap Rate 9%
$599,422
Alternative Uses
Best Use
Retail
$770.7K
$674.4K – $899.1K
NOI $53,948 @ 7.0% cap · market cap 4.23%
Second Best
Office B
$727.4K
$636.5K – $848.7K
NOI $50,921 @ 7.0% cap · market cap 3.99%
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,177 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,516
Businesses Nearby
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Updated office interior with separate exterior access, on-site parking, and a rustic log-cabin exterior.
Where is this office units located?
The property is located at 1520 S Russell Street Missoula, MT.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 4,369 SF commercial building on a 0.358‑acre parcel; 1,592 SF main floor, 1,185 SF upper level, and 1,592 SF finished basement; Basement office area has both interior and separate exterior access
