Mixed-Use Property With Wellness
For Sale
$1,690,000
2105 Bow Street, Missoula, MT 59801
CommercialSale, Missoula, MT
Property Size14,000 SF
Lot Size0.67 Acres
Price / SF$120.71
Days on Market55
Property Features for 2105 Bow Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
6
Rooms
Basement
Parking
28
Parking features
Alley
Security features
Security
Spa
1
Interior features
HotTubSpa, OpenFloorplan, Sauna, VaultedCeilings
Exterior features
RainGutters, Storage
Lot features
Split Possible, Level
Directions
From the intersection of Brooks Street & Stephens Avenue, head southeast on Stephens Avenue (away from Brooks). Bow Street is the next street branching off to your left; turn onto it and 2105 Bow St will be right there on the south side. The whole trip is under a quarter mile - likely under a minute by car, or about a 3-4 minute walk.
Standard status
Active
APN
04220028318030000
Lot size
0.67 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOMEVALE ADDITION, S28, T13 N, R19 W, E 220' S1/2 OF BLK 16 PT VAC ALLEY PARCEL DESCRIBED IN COS 6878
Tax Annual Amount
48762
Legal Description
HOMEVALE ADDITION, S28, T13 N, R19 W, E 220' S1/2 OF BLK 16 PT VAC ALLEY PARCEL DESCRIBED IN COS 6878
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Zoned, Natural Gas, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Amenities
saltwater pool
hot tub
sauna
Building Details
Year built
1983
Building materials
Brick, MetalFrame, MetalSiding
Roof type
Metal, Rubber
Additional Structures
Storage
Listing Agency:
Glacier Sotheby's International Realty Missoula
(406) 541-7020
Listed By:
Patrick Pozzi · License #RRE-RBS-LIC-98048
(406) 240-6767
Added: Jun 29
Changed: Aug 22
Last Checked: Aug 22 at 6:06AM
MLS# 30073978
Copyright © 2026 Montana Regional MLS. 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.
Located at 2105 Bow Street in Missoula, this mixed-use property occupies a 0.665-acre parcel and was built in 1983. The building combines brick, metal frame, and metal siding construction with an open floorplan, vaulted ceilings, basement storage, and dedicated wellness improvements including a saltwater pool, hot tub, and sauna. Central air conditioning and zoned natural-gas heating support the interior, while public water and public sewer serve the property.
The site includes 25 dedicated parking spaces and alley access. Rubber and metal roofing, rain gutters, and additional storage are also part of the improvements. The property carries GREAT zoning and sits near the Brooks and Stephens junction in Missoula's midtown corridor.
The site includes 25 dedicated parking spaces and alley access. Rubber and metal roofing, rain gutters, and additional storage are also part of the improvements. The property carries GREAT zoning and sits near the Brooks and Stephens junction in Missoula's midtown corridor.
Key Highlights
- 0.665‑acre mixed‑use property at 2105 Bow Street in Missoula
- Approximately 14,000 square feet of flexible interior space
- Saltwater pool, hot tub, and sauna included
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
$98,700
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
5.84%
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%
$1,974,000
$2.0M
Cap Rate 7%
$1,410,000
$1.4M
Cap Rate 9%
$1,096,667
$1.1M
Market Conditions
NOI Build-Up for 14,000 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
$168.0K $12.00/SF
− Vacancy
−$10.1K −$0.72/SF
EGI
$157.9K $11.28/SF
− OpEx
−$59.2K −$4.23/SF
NOI
$98.7K $7.05/SF
Area
Missoula County, MT
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,974,000
Cap Rate 7%
$1,410,000
Cap Rate 9%
$1,096,667
Alternative Uses
Best Use
Mixed Use
$1.41M
$1.23M – $1.65M
NOI $98,700 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.04M
$3.53M – $4.71M
NOI $282,555 @ 7.0% cap · market cap 16.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,392
Businesses Nearby
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial building with a saltwater pool, hot tub, sauna, and 25 dedicated parking spaces.
Where is this mixed-use property located?
The property is located at 2105 Bow Street Missoula, MT.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 0.665‑acre mixed‑use property at 2105 Bow Street in Missoula; Approximately 14,000 square feet of flexible interior space; Saltwater pool, hot tub, and sauna included
