Office Building with
For Sale
$2,250,000
201 & 207 2nd S, Great Falls, MT 59405
CommercialSale, Great Falls, MT
Property Size15,000 SF
Lot Size0.34 Acres
Price / SF$150
Days on Market118
Property Features for 201 & 207 2nd S
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
On Street
Security features
Security
Subdivision
Great Falls Original Townsite
Lot features
Alley
Standard status
Active
APN
0000193200
Size
15,000 SF
Lot size
0.34 Acres
Taxes and HOA fees
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
Building Details
Year built
1914
Floors in Building
1
Building materials
Brick
Roof type
Membrane
Listing Agency:
Corder and Associates LLC
(406) 622-3224
Listed By:
Trampus Corder · License #RRE-BRO-LIC-38039
(406) 231-8515
Added: Jun 10
Changed: Sep 12
Last Checked: Oct 5 at 12:06PM
MLS# 345497
Copyright © 2026 Billings Association of Realtors. 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 brick office property at 201 & 207 2nd S includes approximately 8,000 square feet of showroom area, large windows, high ceilings, and multiple entrances. The layout provides 5 offices, 4 bathrooms, a break/conference room, front counter space, an IT room, copier and office-supply room, storage rooms, and a heated warehouse with an overhead door and street access. Unit 207 has a separate entrance, bathroom, office area, and kitchenette, allowing it to function independently.
The property sits on a corner within the Downtown Parking District, with on-street parking available. Built in 1914, the building received major upgrades in 2008, including plumbing, electrical, roof, HVAC, and windows. Heating is provided by natural gas and forced air, with central air conditioning, public water, public sewer, and a membrane roof.
The property sits on a corner within the Downtown Parking District, with on-street parking available. Built in 1914, the building received major upgrades in 2008, including plumbing, electrical, roof, HVAC, and windows. Heating is provided by natural gas and forced air, with central air conditioning, public water, public sewer, and a membrane roof.
Key Highlights
- Approximately 8,000 sq ft of showroom area with large windows and high ceilings
- Layout includes 5 offices, 4 bathrooms, break/conference room, IT room, storage, and front counter space
- Heated warehouse features an 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
Office B
$1.73M
$1.51M – $2.02M
NOI $121,095 @ 7.0% cap · market cap 5.38%
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
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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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Corner-positioned property combines showroom, office, and heated warehouse functions.
Where is this office building located?
The property is located at 201 & 207 2nd 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: Approximately 8,000 sq ft of showroom area with large windows and high ceilings; Layout includes 5 offices, 4 bathrooms, break/conference room, IT room, storage, and front counter space; Heated warehouse features an overhead door and street access
