Mixed-Use Building with High
For Sale
$579,000
1521 Cooper Street, Missoula, MT 59802
CommercialSale, Missoula, MT
Property Size4,640 SF
Lot Size0.18 Acres
Price / SF$124.78
Days on Market155
Property Features for 1521 Cooper Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
C-14
Parking
5
Parking features
Alley, On Street
Lot features
Level
Directions
Follow directions to 1521 Cooper Street, Missoula, Montana 59802 provided via google maps. Heading west on W Broadway St, turn right onto Cowper Street. Parking is available in alleyway, and gas station parking lot. Entrance is the door with "Zoo BJJ" decal on the front
Standard status
Active
APN
04220016304080000
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CHOOL ADDITION, S16, T13 N, R19 W, BLOCK 71, Lot 6 - 7
Tax Annual Amount
6587
Legal Description
CHOOL ADDITION, S16, T13 N, R19 W, BLOCK 71, Lot 6 - 7
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1955
Building materials
MetalSiding
Listing Agency:
Engel & Volkers Western Frontier - Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Dawn Maddux · License #RRE-BRO-LIC-31860
(406) 550-4131
Added: Mar 20
Changed: Aug 20
Last Checked: Aug 21 at 12:06AM
MLS# 30067098
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 mixed-use commercial building contains 4,640 square feet on a 7,797-square-foot lot. The 3,360-square-foot main level is arranged around three high-ceiling areas and a lobby entrance, supporting open work areas, warehouse functions, or product display. The upper level adds 1,280 square feet for offices, storage, or additional workspace, while two bathrooms are located on the lower level.
Constructed in 1955, the property has metal siding, forced-air heat, and central air conditioning. Public water and public sewer serve the building. Parking is available on the street and through the alley, and the property is zoned Commercial.
Constructed in 1955, the property has metal siding, forced-air heat, and central air conditioning. Public water and public sewer serve the building. Parking is available on the street and through the alley, and the property is zoned Commercial.
Key Highlights
- 4,640‑square‑foot building on a 7,797‑square‑foot lot
- 3,360‑square‑foot main level with three high‑ceiling areas
- 1,280‑square‑foot upper level for offices, storage, or workspace
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
$40,929
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
7.07%
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%
$818,580
$818.6K
Cap Rate 7%
$584,700
$584.7K
Cap Rate 9%
$454,767
$454.8K
Market Conditions
NOI Build-Up for 4,640 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
$51.2K $11.04/SF
− Vacancy
−$3.1K −$0.66/SF
EGI
$48.2K $10.38/SF
− OpEx
−$7.2K −$1.56/SF
NOI
$40.9K $8.82/SF
Area
Missoula County, MT
Vacancy
6.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
15.00%
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%
$818,580
Cap Rate 7%
$584,700
Cap Rate 9%
$454,767
Alternative Uses
Best Use
Flex RnD
$819.0K
$716.6K – $955.5K
NOI $57,328 @ 7.0% cap · market cap 9.90%
Second Best
Warehouse
$584.7K
$511.6K – $682.2K
NOI $40,929 @ 7.0% cap · market cap 7.07%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,647 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Mixed-use property - Two-level commercial building offers adaptable work, storage, display, and office areas with a professional lobby entrance.
Where is this mixed-use property located?
The property is located at 1521 Cooper Street Missoula, MT.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 4,640‑square‑foot building on a 7,797‑square‑foot lot; 3,360‑square‑foot main level with three high‑ceiling areas; 1,280‑square‑foot upper level for offices, storage, or workspace
