Downtown Retail and Heated
201 & 215 2nd Ave S, Great Falls, MT 59405
COMMERCIAL - Great Falls, MT
Property size:
15,000 SFLot size:
0.67 AcresPrice / SF:
$216/SF- Added:
- Apr 23, 2024
- Days on Market:
- 805
- Last Refresh:
- Jul 6 at 8:06 am
Property Features for 201 & 215 2nd Ave S
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2
- Standard status
- Active
- Lot size
- 0.67 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 21270
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1914
- Flooring type
- Carpet
Listing agent Trampus Corder License #RRE-BRO-LIC-38039 (406) 622-3224
Listing office Corder and Associates, LLC 1312 Front Street, Fort Benton, MT (406) 622-3224
Listing date Apr 23, 2024
MLS# 11272404
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Corner commercial building and heated warehouse at 2nd St. S. and 2nd Ave. S. in downtown Great Falls, MT
- Just under 15,000 SF total, with approximately 8,000 SF of showroom space and large street‑facing windows
- Floor plan includes 5 separate offices, front counter space, break/conference room, and an IT room plus multiple storage rooms
- 4 bathrooms and a heated warehouse with an overhead door and street access; warehouse can also serve as private parking
- 2008 upgrades included new plumbing, electrical, roof, HVAC, and windows (building built in 1914); heating: natural gas forced air
- Property includes an additional building at 215 2nd Ave. So. with 26,000 SF, plus a segment (207) that could be used as a separate business with its own entrance
Overview
This downtown commercial building combines a retail showroom with office and warehouse functionality. The building is just under 15,000 square feet, with approximately 8,000 square feet dedicated to showroom space. Large windows bring natural light and street visibility, and the interior includes 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 portion includes an overhead door and street access, and the warehouse area can also be used as private parking. The property also reflects significant improvements completed in 2008, including new plumbing, electrical, roof, HVAC, and windows, while maintaining its 1914 historic downtown character.
The main building is located on the corner of 2nd St. S and 2nd Ave. South, providing prominent downtown exposure. It sits just inside the Downtown Parking District, offering parking-related convenience for customers and employees.
In addition to the main improvements, a segment designated as (207) could be utilized as a separate business with its own entrance, bathroom, office space, kitchenette, and storage. The building at 215 2nd Ave. So. provides approximately 26,000 additional square feet that can be used to store goods or accommodate a buyer’s operating needs. With multiple space configurations and street-access warehouse functionality, the offering can support owner-occupancy or income-producing uses.
The main building is located on the corner of 2nd St. S and 2nd Ave. South, providing prominent downtown exposure. It sits just inside the Downtown Parking District, offering parking-related convenience for customers and employees.
In addition to the main improvements, a segment designated as (207) could be utilized as a separate business with its own entrance, bathroom, office space, kitchenette, and storage. The building at 215 2nd Ave. So. provides approximately 26,000 additional square feet that can be used to store goods or accommodate a buyer’s operating needs. With multiple space configurations and street-access warehouse functionality, the offering can support owner-occupancy or income-producing uses.
Local Financial Insights For Retail
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 | $243.0k | $16.20 |
| − Vacancy | −$8.5k | −$0.57 |
| EGI | $234.5k | $15.63 |
| − OpEx | −$70.3k | −$4.69 |
| NOI | $164.1k | $10.94 |
15,000 SF · lease $16.20/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.34M
$2.05M – $2.74M
NOI $164,147 @ 7.0% cap · market cap 5.05%
Second Best
Flex RnD
$1.88M
$1.65M – $2.19M
NOI $131,625 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$2.92M
$2.55M – $3.41M
NOI $204,341 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar Places Nearby
- SMOKED. American Barbecue — 203 2nd Ave N, Great Falls, MT 59401
Location Insight
- Map
- Local Demand
- City
- Great Falls
- County
- Cascade
- State
- Montana
- Longitude
- -111.304054
- Latitude
- 47.503355
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Corner commercial building with heated warehouse access, showroom windows, and multiple offices, supported by major upgrades completed in 2008.
Where is this flex space located?
The property is located at 201 & 215 2nd Ave 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: Corner commercial building and heated warehouse at 2nd St. S. and 2nd Ave. S. in downtown Great Falls, MT; Just under 15,000 SF total, with approximately 8,000 SF of showroom space and large street‑facing windows; Floor plan includes 5 separate offices, front counter space, break/conference room, and an IT room plus multiple storage rooms
