Mixed-Use Corner Triplex with
For Sale
$399,000
Pending
201 & 205 Hungry Horse, Hungry Horse, MT 59919
Three residential units plus a commercial unit on a corner lot along Highway 2.
Property Size2,080 SF
Days on Market122
Property Features for 201 & 205 Hungry Horse
General Information
Standard status
Pending
Size
2,080 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,927
Amenities
Garage: On Street
On Street
Building Details
Year Built
1994
Listing Agency:
Beckman's Real Estate
Listed By:
Jacob Kaider · License #RRE-RBS-LIC-135427
Source:
Clearwaterproperties
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 4:54AM
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 Beckman's Real Estate
Investment Insights
Based on property information with market context.
This mixed-use corner property includes three residential rental units and one commercial unit, with reported total rental income of $2,700 per month. The sale is described as turnkey and includes the land, buildings, and select fixtures. A spacious owner-utilized tandem garage is also included as part of the configuration.
Located at 201 & 205 Hungry Horse Boulevard in Hungry Horse, MT, the property fronts Highway 2, described as the primary gateway to Glacier National Park. Public remarks note that more than 2 million annual visitors pass the front door.
The property is reported to have a successful 30-year operational history, and the current owner’s transition to retirement is referenced in the offering materials.
Located at 201 & 205 Hungry Horse Boulevard in Hungry Horse, MT, the property fronts Highway 2, described as the primary gateway to Glacier National Park. Public remarks note that more than 2 million annual visitors pass the front door.
The property is reported to have a successful 30-year operational history, and the current owner’s transition to retirement is referenced in the offering materials.
Key Highlights
- Corner lot along Highway 2, with 3 residential rental units generating $2,700/month
- Includes an additional commercial unit plus a spacious owner‑utilized tandem garage
- Year built: 1994
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
$20,857
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
5.23%
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%
$417,140
$417.1K
Cap Rate 7%
$297,957
$298.0K
Cap Rate 9%
$231,744
$231.7K
Market Conditions
NOI Build-Up for 2,080 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
$31.2K $15.00/SF
− Vacancy
−$1.4K −$0.68/SF
EGI
$29.8K $14.33/SF
− OpEx
−$8.9K −$4.30/SF
NOI
$20.9K $10.03/SF
Area
Flathead County, MT
Vacancy
4.50%
Lease Rate
$15.00 /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%
$417,140
Cap Rate 7%
$297,957
Cap Rate 9%
$231,744
Alternative Uses
Best Use
Multifamily LT 5
$298.0K
$260.7K – $347.6K
NOI $20,857 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$277.3K
$242.7K – $323.6K
NOI $19,413 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$464.4K
$406.4K – $541.8K
NOI $32,508 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 59919, MT
828
Population
524
Households
1.6
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
2.3 sq mi
ZIP Area
360
Density / Sq Mi
$47,188
Median Earnings
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units plus a commercial unit on a corner lot along Highway 2.
Where is this triplex located?
The property is located at 201 & 205 Hungry Horse Hungry Horse, MT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Corner lot along Highway 2, with 3 residential rental units generating $2,700/month; Includes an additional commercial unit plus a spacious owner‑utilized tandem garage; Year built: 1994
