Commercial Building Near Southgate
For Sale
Contact for pricing
2307 S Grant Street, Missoula, MT 59801
Commercial building with shop, storage, and customer access.
Property Size2,000 SF
Price / SF$149.95
Days on Market869
Property Features for 2307 S Grant Street
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
3
Property subtype
Mixed Use
Building Details
Year Built
1952
Listing Agency:
Clark Fork Realty
Listed By:
Matt Rosbarsky · License #RRE-BRO-LIC-7065
Source:
Crexi
Added: Apr 11, 2024
Changed: Aug 16
Last Checked: Aug 26 at 7:03AM
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 Clark Fork Realty
Investment Insights
Based on property information with market context.
This commercial building, zoned C1-4, is located near Southgate Mall and just off South Avenue. It features over 2000 square feet of heated shop and storage space. An alley provides access via an overhead door for loading and unloading. The front of the building offers customer access. A loft space is also included. The front portion of the building has been used as an office, a shop for stage light and audio repair, and a sound studio. The current owner has operated a sound and light business from this location for many years.
Key Highlights
- Zoned C1‑4 (Commercial)
- Located near Southgate Mall and South Avenue
- Boasts over 2000 square feet of heated shop and storage space
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
$24,696
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
8.23%
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%
$493,920
$493.9K
Cap Rate 7%
$352,800
$352.8K
Cap Rate 9%
$274,400
$274.4K
Market Conditions
NOI Build-Up for 2,000 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
$36.0K $18.00/SF
− Vacancy
−$720 −$0.36/SF
EGI
$35.3K $17.64/SF
− OpEx
−$10.6K −$5.29/SF
NOI
$24.7K $12.35/SF
Area
Missoula County, MT
Vacancy
2.00%
Lease Rate
$18.00 /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%
$493,920
Cap Rate 7%
$352,800
Cap Rate 9%
$274,400
Alternative Uses
Best Use
Retail
$352.8K
$308.7K – $411.6K
NOI $24,696 @ 7.0% cap · market cap 8.23%
Second Best
Office B
$333.0K
$291.4K – $388.5K
NOI $23,310 @ 7.0% cap · market cap 7.77%
Theoretical Best
Specialty Retail
$576.6K
$504.6K – $672.8K
NOI $40,365 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,279
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial building with shop, storage, and customer access.
Where is this mixed-use property located?
The property is located at 2307 S Grant Street Missoula, MT.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Zoned C1‑4 (Commercial); Located near Southgate Mall and South Avenue; Boasts over 2000 square feet of heated shop and storage space
