Downtown Flex Building with
For Sale
$2,250,000
201 & 207 2nd Avenue S, Great Falls, MT 59405
CommercialSale, Great Falls, MT
Property Size15,000 SF
Lot Size0.34 Acres
Price / SF$150
Days on Market897
Property Features for 201 & 207 2nd Avenue S
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Call Listing Agent for Details
Parking features
On Street
Directions
CLA
Subdivision
12M - Other Montana Counties
Standard status
Active
APN
0000193200
Size
15,000 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
GREAT FALLS ORIGINAL TOWNSITE, S12, T20 N, R03 E, BLOCK 369, LOT 013, LTS 13-14
Tax Annual Amount
14805
Legal Description
GREAT FALLS ORIGINAL TOWNSITE, S12, T20 N, R03 E, BLOCK 369, LOT 013, LTS 13-14
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
break/conference room
Building Details
Year built
1914
Listing Agency:
Corder & Associates
(406) 231-8515
Listed By:
Trampus Corder · License #BRO-38039
(406) 622-3224
Added: Apr 23, 2024
Changed: Sep 5
Last Checked: Oct 6 at 1:06PM
MLS# 391452
Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 15,000-square-foot flex property occupies 0.34 acres at 201 & 207 2nd Avenue S in downtown Great Falls. Approximately 8,000 square feet is configured as showroom space with large street-facing windows, high ceilings, and multiple entrances. The interior also includes 5 offices, 4 bathrooms, a break/conference room, front counter space, an IT room, copier and office-supply room, and several storage rooms. A heated warehouse includes an overhead door and street access, with space that can also accommodate private parking.
The 1914 building received substantial improvements in 2008, including plumbing, electrical, roof, HVAC, and window upgrades. The 207 portion has its own entrance, bathroom, office area, kitchenette, and storage, allowing separation from the balance of the property. Public water and public sewer serve the building, with natural gas and forced-air heating plus central air conditioning. On-street parking is available, and the property sits within the Downtown Parking District.
The 1914 building received substantial improvements in 2008, including plumbing, electrical, roof, HVAC, and window upgrades. The 207 portion has its own entrance, bathroom, office area, kitchenette, and storage, allowing separation from the balance of the property. Public water and public sewer serve the building, with natural gas and forced-air heating plus central air conditioning. On-street parking is available, and the property sits within the Downtown Parking District.
Key Highlights
- 15,000 square feet on 0.34 acres in downtown Great Falls
- Approximately 8,000 square feet of showroom space with large windows
- Heated warehouse with overhead door and street access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,147
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,282,940
$3.3M
Cap Rate 7%
$2,344,957
$2.3M
Cap Rate 9%
$1,823,856
$1.8M
Market Conditions
NOI Build-Up for 15,000 SF
Gross rent
$243.0K $16.20/SF
− Vacancy
−$8.5K −$0.57/SF
EGI
$234.5K $15.63/SF
− OpEx
−$70.3K −$4.69/SF
NOI
$164.1K $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 Rate 5%
$3,282,940
Cap Rate 7%
$2,344,957
Cap Rate 9%
$1,823,856
Alternative Uses
Best Use
Retail
$2.34M
$2.05M – $2.74M
NOI $164,147 @ 7.0% cap · market cap 7.30%
Second Best
Flex RnD
$1.88M
$1.65M – $2.19M
NOI $131,625 @ 7.0% cap · market cap 5.85%
Theoretical Best
Specialty Retail
$2.92M
$2.55M – $3.41M
NOI $204,341 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,734
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Historic 1914 property combines a large display area, offices, storage, and a heated warehouse with street access.
Where is this flex space located?
The property is located at 201 & 207 2nd Avenue S Great Falls, MT.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 15,000 square feet on 0.34 acres in downtown Great Falls; Approximately 8,000 square feet of showroom space with large windows; Heated warehouse with overhead door and street access
