Mixed-Use Property with
New
For Sale
Under Contract
$895,000
2120 Dixon Avenue, Missoula, MT 59801
CommercialSale, Missoula, MT
Property Size3,326 SF
Lot Size0.13 Acres
Price / SF$269.09
Days on Market7
Property Features for 2120 Dixon Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
U-MU3
Lot features
Level
Directions
GPS will take you to the property.
Standard status
Active Under Contract
APN
04220032349100000
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LON ADDITION, S32, T13 N, R19 W, E 24' OF LOT 16 & W 22' OF 17
Tax Annual Amount
13815
Legal Description
LON ADDITION, S32, T13 N, R19 W, E 24' OF LOT 16 & W 22' OF 17
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
kitchen/break area
Building Details
Year built
1956
Number of units
1
Listing Agency:
Engel & Volkers Western Frontier - Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Chris Bristol · License #RRE-RBS-LIC-119046
(406) 880-7695
Added: Sep 29
Changed: Oct 5
Last Checked: Oct 5 at 10:06AM
MLS# 30079073
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.
This 3,326-SF property combines office and retail space with a heated warehouse. Interior features include an open workspace, kitchen and break area, and additional work areas. The warehouse has a floor drain and two grade-level overhead doors, with access from the rear alley. The building dates to 1956 and sits on 0.134 acres.
The property is just off Brooks Street, with visibility from the commercial corridor. Retail, dining, and services are nearby, along with the planned Midtown Market development, which is anchored by Whole Foods Market. Public water and public sewer serve the property.
The property is just off Brooks Street, with visibility from the commercial corridor. Retail, dining, and services are nearby, along with the planned Midtown Market development, which is anchored by Whole Foods Market. Public water and public sewer serve the property.
Key Highlights
- Approximately 3,326 SF of office, retail, and warehouse space
- Heated warehouse with floor drain and two grade‑level overhead doors
- Rear‑alley access
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
$29,339
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
3.28%
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%
$586,780
$586.8K
Cap Rate 7%
$419,129
$419.1K
Cap Rate 9%
$325,989
$326.0K
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
$36.7K $11.04/SF
− Vacancy
−$2.2K −$0.66/SF
EGI
$34.5K $10.38/SF
− OpEx
−$5.2K −$1.56/SF
NOI
$29.3K $8.82/SF
Area
Missoula County, MT
Vacancy
6.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
15.00%
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%
$586,780
Cap Rate 7%
$419,129
Cap Rate 9%
$325,989
Alternative Uses
Best Use
Warehouse
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 3.28%
Second Best
Mixed Use
$335.0K
$293.1K – $390.8K
NOI $23,448 @ 7.0% cap · market cap 2.62%
Theoretical Best
Specialty Retail
$959.0K
$839.1K – $1.12M
NOI $67,127 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,229
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, retail, and heated warehouse areas create a practical mix of customer-facing and work space.
Where is this mixed-use property located?
The property is located at 2120 Dixon Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Approximately 3,326 SF of office, retail, and warehouse space; Heated warehouse with floor drain and two grade‑level overhead doors; Rear‑alley access
