Two-Level Flex
New
For Sale
$750,000
1610 10th Avenue S, Great Falls, MT 59405
Commercial building with a main floor and basement in a high-traffic setting.
Property Size2,868 SF
Days on Market5
Property Features for 1610 10th Avenue S
General Information
Standard status
Active
Size
2,868 SF
Property subtype
Building/Land
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,913
Building Details
Building Size
2,868 SF
Year Built
1985
Listing Agency:
Dahlquist Realtors
(406) 799-9439
Listed By:
Kristen Loney · License #RRE-RBS-LIC-79697
(406) 799-9439
Source:
Liveinmtrealestate
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 12:11AM
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 Dahlquist Realtors
Investment Insights
Based on property information with market context.
This flex space includes a primary floor and a basement, offering a two-level commercial configuration for a range of business layouts. The building was constructed in 1985 and is positioned along 10th Avenue S in Great Falls, Montana.
Daily traffic is reported at 35,000–42,000 vehicles, providing substantial exposure from the surrounding roadway. The property’s combination of above-grade and basement space supports varied operational and customer-facing configurations, subject to the intended use.
Daily traffic is reported at 35,000–42,000 vehicles, providing substantial exposure from the surrounding roadway. The property’s combination of above-grade and basement space supports varied operational and customer-facing configurations, subject to the intended use.
Key Highlights
- Flex space classification
- Main level plus basement configuration
- 35,000–42,000 vehicles daily traffic count
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
$31,385
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
4.18%
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%
$627,700
$627.7K
Cap Rate 7%
$448,357
$448.4K
Cap Rate 9%
$348,722
$348.7K
Market Conditions
NOI Build-Up for 2,868 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
$46.5K $16.20/SF
− Vacancy
−$1.6K −$0.57/SF
EGI
$44.8K $15.63/SF
− OpEx
−$13.5K −$4.69/SF
NOI
$31.4K $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%
$627,700
Cap Rate 7%
$448,357
Cap Rate 9%
$348,722
Alternative Uses
Best Use
Retail
$448.4K
$392.3K – $523.1K
NOI $31,385 @ 7.0% cap · market cap 4.18%
Second Best
Flex RnD
$359.5K
$314.6K – $419.5K
NOI $25,167 @ 7.0% cap · market cap 3.36%
Theoretical Best
Specialty Retail
$558.1K
$488.4K – $651.2K
NOI $39,070 @ 7.0% cap · market cap 5.21%
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
667
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59405, MT
33,578
Population
15,260
Households
2.2
Avg Household Size
35
Median Age
29%
College-Educated
94%
High-School Grad
479.4 sq mi
ZIP Area
70
Density / Sq Mi
$60,509
Median Household Income
$37,431
Median Earnings
$947
Median Rent
$236,800
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?
Flex space - Commercial building with a main floor and basement in a high-traffic setting.
Where is this flex space located?
The property is located at 1610 10th Avenue S Great Falls, MT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Flex space classification; Main level plus basement configuration; 35,000–42,000 vehicles daily traffic count
