Live-Work Property with Detached
For Sale
$785,000
1732 Defoe St, Missoula, MT 59802
U-R3 zoning, solar power, residential quarters, and separate apartment support flexible live-work use.
Property Size4,124 SF
Price / SF$190.35
Days on Market77
Property Features for 1732 Defoe St
General Information
Standard status
Active
Size
4,124 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
Main Street Realty
(406) 544-3310
Listed By:
Tylor Trenary · License #38083
Source:
Jasonbakerteam
Added: Jun 16
Changed: Aug 29
Last Checked: Aug 30 at 7:33PM
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 Main Street Realty
Investment Insights
Based on property information with market context.
This multi-use property combines residential space, office potential, and dedicated workshop capacity. The principal building includes two bedrooms, hardwood flooring, and a 28 x 20 bonus room that can support office or additional living functions. A basement efficiency unit has its own exterior entrance, while a separate three-bedroom apartment is positioned at the rear. The property also includes a detached 28 x 28 garage and shop with 12+ foot ceilings and an overhead-door configuration originally designed for 12-foot doors.
U-R3 zoning supports the property’s live-work character in Missoula’s historic West Side neighborhood. A solar panel system serves the property, and established garden beds and fruit trees add outdoor utility to the site. The combination of separate spaces, workshop improvements, and residential components provides a varied physical configuration for commercial and residential use.
U-R3 zoning supports the property’s live-work character in Missoula’s historic West Side neighborhood. A solar panel system serves the property, and established garden beds and fruit trees add outdoor utility to the site. The combination of separate spaces, workshop improvements, and residential components provides a varied physical configuration for commercial and residential use.
Key Highlights
- 28 x 28 detached garage/shop with 12+ foot ceilings
- Separate 3‑bedroom apartment at the rear of the property
- Main building includes 2 bedrooms and a 28 x 20 bonus room
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
$50,953
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
6.49%
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%
$1,019,060
$1.0M
Cap Rate 7%
$727,900
$727.9K
Cap Rate 9%
$566,144
$566.1K
Market Conditions
NOI Build-Up for 4,124 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
$89.1K $21.60/SF
− Vacancy
−$10.7K −$2.59/SF
EGI
$78.4K $19.01/SF
− OpEx
−$27.4K −$6.65/SF
NOI
$51.0K $12.36/SF
Area
Missoula County, MT
Vacancy
12.00%
Lease Rate
$21.60 /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%
$1,019,060
Cap Rate 7%
$727,900
Cap Rate 9%
$566,144
Alternative Uses
Best Use
Flex RnD
$727.9K
$636.9K – $849.2K
NOI $50,953 @ 7.0% cap · market cap 6.49%
Second Best
Office B
$686.6K
$600.8K – $801.1K
NOI $48,065 @ 7.0% cap · market cap 6.12%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,233 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
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 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?
Live-work space - U-R3 zoning, solar power, residential quarters, and separate apartment support flexible live-work use.
Where is this live-work space located?
The property is located at 1732 Defoe St Missoula, MT.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 28 x 28 detached garage/shop with 12+ foot ceilings; Separate 3‑bedroom apartment at the rear of the property; Main building includes 2 bedrooms and a 28 x 20 bonus room
