Remodeled Flex
For Sale
Contact for pricing
2120 Dixon Ave, Missoula, MT 59801
Combined office, retail, and warehouse areas provide a practical layout for varied commercial operations.
Property Size3,326 SF
Lot Size0.13 Acres
Price / SF$284.13
Days on Market12
Property Features for 2120 Dixon Ave
General Information
Standard status
Active
Size
3,326 SF
Lot size
0.13 Acres
Property subtype
OFFICE
Zoning
C1-4
Building Details
Year Renovated
2007
Buildings
1
Listing Agency:
Sterling CRE Advisors
(406) 360-3102
Listed By:
Claire Matten, CCIM/SIOR · License #90048
(406) 360-3102
Source:
Moodyscre
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 10 at 6:18AM
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 Sterling CRE Advisors
Investment Insights
Based on property information with market context.
This 3,326-square-foot flex property combines office and retail areas with warehouse space in a single mixed-use building. The improvements were remodeled in 2007 and include paved private parking at both the front and rear, supplemented by street parking. The 0.13-acre site is configured for immediate commercial use and offers a balanced footprint for an owner-user or local tenant.
Located just off Brooks Street in Midtown Missoula, the property sits among established neighborhoods, retail centers, and service businesses. C1-4 commercial zoning supports professional office, service retail, studio, and light industrial applications. The site is also within Missoula’s Urban Renewal District and qualifies for Tax Increment Financing for future site improvements.
Located just off Brooks Street in Midtown Missoula, the property sits among established neighborhoods, retail centers, and service businesses. C1-4 commercial zoning supports professional office, service retail, studio, and light industrial applications. The site is also within Missoula’s Urban Renewal District and qualifies for Tax Increment Financing for future site improvements.
Key Highlights
- 3,326 SF mixed‑use flex building
- Office, retail, and warehouse areas in one property
- 0.13‑acre site with private paved parking in front and rear
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
$41,093
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
4.35%
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%
$821,860
$821.9K
Cap Rate 7%
$587,043
$587.0K
Cap Rate 9%
$456,589
$456.6K
Market Conditions
NOI Build-Up for 3,326 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
$71.8K $21.60/SF
− Vacancy
−$8.6K −$2.59/SF
EGI
$63.2K $19.01/SF
− OpEx
−$22.1K −$6.65/SF
NOI
$41.1K $12.36/SF
Area
Missoula County, MT
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$821,860
Cap Rate 7%
$587,043
Cap Rate 9%
$456,589
Alternative Uses
Best Use
Flex RnD
$587.0K
$513.7K – $684.9K
NOI $41,093 @ 7.0% cap · market cap 4.35%
Second Best
Retail
$586.7K
$513.4K – $684.5K
NOI $41,069 @ 7.0% cap · market cap 4.35%
Theoretical Best
Specialty Retail
$959.0K
$839.1K – $1.12M
NOI $67,127 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combined office, retail, and warehouse areas provide a practical layout for varied commercial operations.
Where is this flex space located?
The property is located at 2120 Dixon Ave Missoula, MT.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 3,326 SF mixed‑use flex building; Office, retail, and warehouse areas in one property; 0.13‑acre site with private paved parking in front and rear
