Flex and Warehouse Building with
201 & 215 2nd S Great Falls, MT 59405
For Sale
$3,250,000
SINGLE_FAMILY - MT
Property Size41,000 SF
Lot Size0.67 Acres
Price / SF$79.27
Days on Market116
Property Features for 201 & 215 2nd S
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking features
- On Street
- Security features
- Security
- Standard status
- Active
- APN
- 0000193150
- Size
- 41,000 SF
- Lot size
- 0.67 Acres
Taxes and HOA fees
- Tax Description
- GREAT FALLS ORIGINAL TOWNSITE, S12, T20 N, R03 E, BLOCK 369, LOT 013, LTS 13-14, LOT010, W 44 FT LT 11 AND ALL OF LOT 12
- Tax Annual Amount
- 21270
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) 622-3224
Added: Apr 2
Changed: Jun 10
Last Checked: Jul 26 at 12:06AM
MLS# 345503
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 commercial building is just under 15,000 square feet, with approximately 8,000 square feet dedicated to a showroom. The space includes high ceilings, multiple entrances, and a layout featuring five separate offices, four bathrooms, a break/conference room, front counter space, an IT room, a copier/office supply room, and several storage rooms. A heated warehouse with an overhead door and street access supports warehouse and distribution needs.
Significant upgrades were completed in 2008, including new plumbing, electrical, roof, HVAC, and windows. The property also references unit 207 as a separate business space with its own entrance, bathroom, office space, kitchenette, and storage. In addition, the building at 215 2nd Ave. So. provides approximately 26,000 square feet of additional space for storage or other business uses. The location is just inside the Downtown Parking District, offering parking advantages for customers and visitors.
Significant upgrades were completed in 2008, including new plumbing, electrical, roof, HVAC, and windows. The property also references unit 207 as a separate business space with its own entrance, bathroom, office space, kitchenette, and storage. In addition, the building at 215 2nd Ave. So. provides approximately 26,000 square feet of additional space for storage or other business uses. The location is just inside the Downtown Parking District, offering parking advantages for customers and visitors.
Key Highlights
- Commercial building just under 15,000 SF with approximately 8,000 SF showroom space and high ceilings
- Heated warehouse with overhead door plus street access
- Multiple entrances and floorplan includes 5 separate offices, front counter space, break/conference room, and IT room
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $295.2k | $7.20 |
| − Vacancy | −$20.7k | −$0.50 |
| EGI | $274.5k | $6.70 |
| − OpEx | −$41.2k | −$1.00 |
| NOI | $233.4k | $5.69 |
41,000 SF · lease $7.20/SF/yr · vacancy 7.00% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$5.14M
$4.50M – $6.00M
NOI $359,775 @ 7.0% cap · market cap 11.07%
Second Best
Office B
$4.73M
$4.14M – $5.52M
NOI $330,993 @ 7.0% cap · market cap 10.18%
Theoretical Best
Specialty Retail
$7.98M
$6.98M – $9.31M
NOI $558,533 @ 7.0% cap · market cap 17.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- SMOKED. American Barbecue — 203 2nd Ave N, Great Falls, MT 59401
FAQs
What type of property is this?
Flex space - Heated warehouse with street access and overhead door, plus a showroom and multiple office areas.
Where is this flex space located?
The property is located at 201 & 215 2nd S Great Falls, MT.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Commercial building just under 15,000 SF with approximately 8,000 SF showroom space and high ceilings; Heated warehouse with overhead door plus street access; Multiple entrances and floorplan includes 5 separate offices, front counter space, break/conference room, and IT room
