Historic Church-to-Retail
For Sale
$580,000
203 5th Avenue W, Kalispell, MT 59901
Former Scandinavian Methodist Church built in 1896, currently housing Kalispell Community Thrift.
Property Size2,228 SF
Days on Market156
Property Features for 203 5th Avenue W
General Information
Standard status
Active
Size
2,228 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$3,877
Building Details
Building Size
2,228 SF
Year Built
1900
Listing Agency:
Montana Property Angels
Listed By:
Leah Lindsay · License #98844
(406) 261-1859
Source:
Montanapropertyangels
Added: May 1
Changed: Sep 16
Last Checked: Oct 2 at 4:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Montana Property Angels
Investment Insights
Based on property information with market context.
This property is the former Scandinavian Methodist Church, constructed in 1896, and currently operates as Kalispell Community Thrift. The offering contemplates purchase of the building and the business together, or separately. Business-related items included in the sale package are the inventory (all merchandise), as well as the Kalispell Community Thrift Facebook page, Instagram account, and logos.
The building is located at 203 5th Avenue W in Kalispell, MT 59901.
The building is located at 203 5th Avenue W in Kalispell, MT 59901.
Key Highlights
- Former Scandinavian Methodist Church built in 1896 (1900 listed), now housing Kalispell Community Thrift
- The building and the business can be purchased together or separately
- Business includes all merchandise inventory for Kalispell Community Thrift
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,605
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$632,100
$632.1K
Cap Rate 7%
$451,500
$451.5K
Cap Rate 9%
$351,167
$351.2K
Market Conditions
NOI Build-Up for 2,228 SF
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.
Gross rent
$46.8K $21.00/SF
− Vacancy
−$1.6K −$0.74/SF
EGI
$45.2K $20.27/SF
− OpEx
−$13.5K −$6.08/SF
NOI
$31.6K $14.19/SF
Area
Flathead County, MT
Vacancy
3.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$632,100
Cap Rate 7%
$451,500
Cap Rate 9%
$351,167
Alternative Uses
Best Use
Retail
$451.5K
$395.1K – $526.8K
NOI $31,605 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.4K
$435.3K – $580.4K
NOI $34,821 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,228
Businesses Nearby
102k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 43%
Home Improvements & Furnishings 2%
Conoco
Shops & Services
14,174 visits/mo
0.4 miles
Starbucks
Dining
14,085 visits/mo
0.3 miles
Town Pump
Shops & Services
10,825 visits/mo
0.5 miles
AutoZone
Shops & Services
6,511 visits/mo
0.4 miles
KFC
Dining
5,904 visits/mo
0.4 miles
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Former Scandinavian Methodist Church built in 1896, currently housing Kalispell Community Thrift.
Where is this retail space located?
The property is located at 203 5th Avenue W Kalispell, MT.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Former Scandinavian Methodist Church built in 1896 (1900 listed), now housing Kalispell Community Thrift; The building and the business can be purchased together or separately; Business includes all merchandise inventory for Kalispell Community Thrift
