Downtown Great Falls Mixed-Use
For Sale
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16 6th Street S, Great Falls, MT 59401
Classic 1945 building perfect for boutique, restaurant, retail, or office.
Property Size1,800 SF
Price / SF$261.11
Days on Market1054
Property Features for 16 6th Street S
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Mixed Use
Zoning
C-4
Building Details
Year Built
1945
Listing Agency:
Dascoulias Realty Group
Listed By:
Jennifer Newmack · License #RRE-RBS-LIC-71815
Source:
Crexi
Added: Sep 23, 2023
Changed: Aug 11
Last Checked: Aug 11 at 10:46AM
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 Dascoulias Realty Group
Investment Insights
Based on property information with market context.
This 1,800 sq ft building, constructed in 1945, offers an open space suitable for various business ventures. Located in downtown Great Falls, it is characterized by its historic brick charm and modern updates. The property includes two ADA-compliant bathrooms and a parking lot with 10 spaces. Modern features include exposed metal ductwork for the central AC and a glass garage-style door, suitable for sidewalk sales or outdoor seating. The building is equipped with a new roof (installed in April 2024), new HVAC, and 3-phase electric. The property is suitable for a boutique, restaurant, bar, salon, retail space, office, flower shop, or coffee shop.
Key Highlights
- Prime commercial space suitable for various business types.
- Includes a dedicated parking lot with 10 spaces.
- Features modern updates: new roof (4/24), new HVAC, and 3‑phase electric.
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
$19,698
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
4.19%
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%
$393,960
$394.0K
Cap Rate 7%
$281,400
$281.4K
Cap Rate 9%
$218,867
$218.9K
Market Conditions
NOI Build-Up for 1,800 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
$29.2K $16.20/SF
− Vacancy
−$1.0K −$0.57/SF
EGI
$28.1K $15.63/SF
− OpEx
−$8.4K −$4.69/SF
NOI
$19.7K $10.94/SF
Area
Cascade County, MT
Vacancy
3.50%
Lease Rate
$16.20 /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%
$393,960
Cap Rate 7%
$281,400
Cap Rate 9%
$218,867
Alternative Uses
Best Use
Retail
$281.4K
$246.2K – $328.3K
NOI $19,698 @ 7.0% cap · market cap 4.19%
Second Best
Mixed Use
$173.6K
$151.9K – $202.5K
NOI $12,150 @ 7.0% cap · market cap 2.59%
Theoretical Best
Specialty Retail
$350.3K
$306.5K – $408.7K
NOI $24,521 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,913
Businesses Nearby
Explore this area
Business Placement
Demographics for 59401, MT
13,030
Population
6,921
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
3.0 sq mi
ZIP Area
4,343
Density / Sq Mi
$53,750
Median Household Income
$33,209
Median Earnings
$767
Median Rent
$206,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Classic 1945 building perfect for boutique, restaurant, retail, or office.
Where is this mixed-use property located?
The property is located at 16 6th Street S Great Falls, MT.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Prime commercial space suitable for various business types.; Includes a dedicated parking lot with 10 spaces.; Features modern updates: **new roof (4/24), new HVAC, and 3‑phase electric**.
