Gas Station
For Sale
$750,000
Pending
196 3rd Avenue E, Kalispell, MT 59901
The 1951 property was formerly occupied by Howie's Tire & Auto Care and is positioned for redevelopment or adaptive reuse.
Property Size2,232 SF
Days on Market150
Property Features for 196 3rd Avenue E
General Information
Standard status
Pending
Size
2,232 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,503
Building Details
Year Built
1951
Listing Agency:
Coldwell Banker Mountain Properties
(406) 890-4000
Listed By:
Cecil Waatti · License #99389
Source:
Clearwaterproperties
Added: Apr 4
Changed: Aug 30
Last Checked: Aug 30 at 12:23PM
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 Coldwell Banker Mountain Properties
Investment Insights
Based on property information with market context.
Located at 196 3rd Avenue E in Kalispell, Montana, this gas station property includes improvements built in 1951. The reported property size is 2,232, and the site was formerly occupied by Howie's Tire & Auto Care.
The property is presented as a redevelopment or adaptive reuse opportunity, with the existing commercial improvements offering a basis for restoring the site or establishing a new business use.
The property is presented as a redevelopment or adaptive reuse opportunity, with the existing commercial improvements offering a basis for restoring the site or establishing a new business use.
Key Highlights
- 2,232 reported property size
- Improvements constructed in 1951
- Former Howie's Tire & Auto Care location
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
$31,662
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
4.22%
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%
$633,240
$633.2K
Cap Rate 7%
$452,314
$452.3K
Cap Rate 9%
$351,800
$351.8K
Market Conditions
NOI Build-Up for 2,232 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
$46.9K $21.00/SF
− Vacancy
−$1.6K −$0.74/SF
EGI
$45.2K $20.27/SF
− OpEx
−$13.6K −$6.08/SF
NOI
$31.7K $14.19/SF
Area
Flathead County, MT
Vacancy
3.50%
Lease Rate
$21.00 /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%
$633,240
Cap Rate 7%
$452,314
Cap Rate 9%
$351,800
Alternative Uses
Best Use
Retail
$452.3K
$395.8K – $527.7K
NOI $31,662 @ 7.0% cap · market cap 4.22%
Second Best
Specialty Retail
$439.8K
$384.8K – $513.1K
NOI $30,787 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$498.3K
$436.0K – $581.4K
NOI $34,883 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
212k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Shops & Services 33%
Groceries 31%
Home Improvements & Furnishings 2%
Smith's
Groceries
35,676 visits/mo
0.1 miles
Super 1 Foods
Groceries
29,600 visits/mo
0.1 miles
Wendy's
Dining
18,599 visits/mo
0.3 miles
Conoco
Shops & Services
14,174 visits/mo
0.5 miles
Starbucks
Dining
14,085 visits/mo
0.3 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - The 1951 property was formerly occupied by Howie's Tire & Auto Care and is positioned for redevelopment or adaptive reuse.
Where is this gas station located?
The property is located at 196 3rd Avenue E Kalispell, 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: 2,232 reported property size; Improvements constructed in 1951; Former Howie's Tire & Auto Care location
