Corner Flex Office and
201 & 207 2nd S Great Falls, MT 59405
For Sale
$2,250,000
SINGLE_FAMILY - MT
Property Size15,000 SF
Lot Size0.34 Acres
Price / SF$150
Days on Market114
Property Features for 201 & 207 2nd S
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking features
- On Street
- Security features
- Security
- 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
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- 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 3
Changed: Jun 10
Last Checked: Jul 25 at 11:06PM
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 corner commercial building includes approximately 8,000 square feet of showroom area along with front counter space, multiple offices, and supporting rooms. The interior layout features five offices, four bathrooms, a break/conference room, an IT room, a copier/office supply room, and additional storage. A heated warehouse component includes an overhead door with street access, and the building has multiple entrances. Significant upgrades were completed in 2008, including new plumbing, electrical, roof, HVAC, and windows.
The property is located just inside the Downtown Parking District and is described as benefiting from parking advantages. The building also has large windows that provide natural light.
Suite 207 could be utilized as a separate business with its own entrance, bathroom, office space, and kitchenette. An adjacent 26,000 square foot warehouse is listed for sale separately at 215 2nd Ave.
The property is located just inside the Downtown Parking District and is described as benefiting from parking advantages. The building also has large windows that provide natural light.
Suite 207 could be utilized as a separate business with its own entrance, bathroom, office space, and kitchenette. An adjacent 26,000 square foot warehouse is listed for sale separately at 215 2nd Ave.
Key Highlights
- Brick commercial building on a corner with large windows and natural light
- Just under 15,000 sq ft total with approx. 8,000 sq ft showroom space
- Heated warehouse with overhead door and street access
Financial Insights For Flex RnD
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 | $225.0k | $15.00 |
| − Vacancy | −$22.5k | −$1.50 |
| EGI | $202.5k | $13.50 |
| − OpEx | −$70.9k | −$4.73 |
| NOI | $131.6k | $8.78 |
15,000 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.88M
$1.65M – $2.19M
NOI $131,625 @ 7.0% cap · market cap 5.85%
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 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 - Flex building with showroom, offices, and a heated warehouse with overhead door and street access.
Where is this flex space 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: Brick commercial building on a corner with large windows and natural light; Just under 15,000 sq ft total with approx. 8,000 sq ft showroom space; Heated warehouse with overhead door and street access
