Aviation Property with Multiple
New
For Sale
$2,750,000
1893 Airport Road, Kalispell, MT 59901
Aviation property with hangars, manufacturing, office, and live-in facilities.
Property Size21,147 SF
Lot Size1.51 Acres
Days on Market2
Property Features for 1893 Airport Road
General Information
Standard status
Active
Size
21,147 SF
Total Parking Spaces
50
Lot size
1.51 Acres
Property subtype
Commercial
Zoning
Industrial - Light, Light Industrial
Additional Details
Cold Storage
Yes
Taxes and HOA fees
Annual Taxes
$18,685
Building Details
Building Size
21,147 SF
Year Built
1964
Units
5
Listing Agency:
Flathead Valley Brokers
(406) 752-8883
Listed By:
Linda Pistorese · License #RRE-BRO-LIC-13239
(406) 752-8883
Source:
Missionvalleyproperties
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 4:29AM
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 Flathead Valley Brokers
Investment Insights
Based on property information with market context.
This aviation-oriented property combines five aircraft hangars totaling 14,664 SF with a 3,350 SF manufacturing facility, an avionics shop, office areas, and live-in accommodations. The improvements also include an operational fuel island with 12,000-gallon AVgas (100LL) capacity and 5,000-gallon Jet A capacity. A sleeping loft and a main-level apartment with a kitchen, bath, and bedroom are identified among the onsite facilities.
The 1.51-acre property at 1893 Airport Road has direct access to Kalispell City Airport, including a 3,700-foot runway with a 500-foot overrun. Zoning is Industrial - Light, Light Industrial, also identified as I-1 Light Industrial. The property was built in 1964 and includes hangar structures with varying door heights and widths, including a 17-foot 5-inch-tall, 104-foot-wide largest hangar and a 64-foot-wide cold-storage hangar.
The 1.51-acre property at 1893 Airport Road has direct access to Kalispell City Airport, including a 3,700-foot runway with a 500-foot overrun. Zoning is Industrial - Light, Light Industrial, also identified as I-1 Light Industrial. The property was built in 1964 and includes hangar structures with varying door heights and widths, including a 17-foot 5-inch-tall, 104-foot-wide largest hangar and a 64-foot-wide cold-storage hangar.
Key Highlights
- Five hangars totaling 14,664 SF
- 3,350 SF manufacturing facility with avionics shop and office areas
- Operational fuel island with 12,000‑gallon AVgas and 5,000‑gallon Jet A capacity
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
$250,751
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
9.12%
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%
$5,015,020
$5.0M
Cap Rate 7%
$3,582,157
$3.6M
Cap Rate 9%
$2,786,122
$2.8M
Market Conditions
NOI Build-Up for 21,147 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
$393.3K $18.60/SF
− Vacancy
−$59.0K −$2.79/SF
EGI
$334.3K $15.81/SF
− OpEx
−$83.6K −$3.95/SF
NOI
$250.8K $11.86/SF
Area
Flathead County, MT
Vacancy
15.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
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%
$5,015,020
Cap Rate 7%
$3,582,157
Cap Rate 9%
$2,786,122
Alternative Uses
Best Use
Office B
$3.58M
$3.13M – $4.18M
NOI $250,751 @ 7.0% cap · market cap 9.12%
Second Best
Mixed Use
$2.13M
$1.86M – $2.48M
NOI $149,086 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$4.72M
$4.13M – $5.51M
NOI $330,502 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Aviation real estate - Aviation property with hangars, manufacturing, office, and live-in facilities.
Where is this aviation real estate located?
The property is located at 1893 Airport Road Kalispell, MT.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Five hangars totaling 14,664 SF; 3,350 SF manufacturing facility with avionics shop and office areas; Operational fuel island with 12,000‑gallon AVgas and 5,000‑gallon Jet A capacity
