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    Two-Duplex Residential Income Property Title is generated by Realmo AI

    235 E Front Street, Missoula, MT 59802

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    Renovated downtown duplexes with separate entrances, turnkey updates, and STR-ready configuration for flexible income strategies.

    Type:Multifamily
    Added:
    May 30, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 4:04 am

    Property Features for 235 E Front Street

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1925

    We can help!

    Listing Contact
    Wynne Winter

    Listing agent Wynne Winter License #RRE-RBS-LIC-67997

    Listing office Engel & Volkers WF Missoula

    Listing date May 30, 2026

    Source Crexi

    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 Engel & Volkers WF Missoula

    HighLights

    • Historic Newton House (built 1925) reconfigured into two separate duplexes with a total of 4 bedrooms and 3 bathrooms
    • Each duplex has private, separate entrances on the front and back of the property
    • Currently operating as an STR, grossing over $107K in 2025; projected STR income $130K if one home is not owner‑occupied
    • Renovations include new paint, hardwood floors, high‑efficiency HVAC, water heaters, landscaping, and underground sprinklers
    • Food truck pad with sidewalk cafe license plus storage area/possible commissary kitchen, currently used by Gary's Local burger truck
    • Zoned CBD: house can be demolished and rebuilt up to 12 stories lot line to lot line with no parking requirements

    Overview

    A historic Newton House has been thoughtfully renovated and reconfigured into two separate duplexes, each offering a private, separate entrance on the front and back of the property. The home includes two living/dining areas, a remodeled farmhouse kitchen with Sub-Zero refrigerator and dishwasher, and a full bath on the first floor. Upstairs, a family room separates the primary and second bedroom, and a newly updated bath features Carrara marble finishes and nickel fittings. Updates across both duplexes include new paint, hardwood floors, high-efficiency HVAC, water heaters, landscaping, and underground sprinklers.

    The property is located on Front Street and includes a food truck pad with a sidewalk café license, along with a storage area that could function as a possible commissary kitchen. The pad is currently home to the burger truck, Gary’s Local. The property has been operating as a popular short-term rental, grossing over $107,000 in 2025, with projected STR income of $130,000 if one home is not owner-occupied. Zoned CBD, the property notes that it can be demolished and built up to 12 stories lot line to lot line with no parking requirements.

    For operators, this setup supports both live-in and income-focused use with separate duplex access, while the food truck pad adds an additional use component. For buyers and developers, the CBD zoning and noted redevelopment parameters provide a clear path for higher-density potential alongside the existing renovated income units. Walk Score is listed as 93, with the New Public Library, ROAM, multiple restaurants, hotel rooms, and nearby retail and activity options within blocks, including luxury condo development within a 3-block radius.
    Location Intelligence

    Current Use by Public Records

    Gary's Local $6 ... Restaurant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Missoula
    County
    Missoula
    State
    Montana
    Longitude
    -113.9926058
    Latitude
    46.8693151

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    FAQs

    What type of property is this?
    Quadplex - Renovated downtown duplexes with separate entrances, turnkey updates, and STR-ready configuration for flexible income strategies.
    Where is this quadplex located?
    The property is located at 235 E Front Street Missoula, MT.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Historic Newton House (built 1925) reconfigured into two separate duplexes with a total of 4 bedrooms and 3 bathrooms; Each duplex has private, separate entrances on the front and back of the property; Currently operating as an STR, grossing over $107K in 2025; projected STR income $130K if one home is not owner‑occupied
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Wynne Winter
    Real Estate License ID: RRE-RBS-LIC-67997
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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