Retail
New
For Sale
$795,000
245 W Main Street, Missoula, MT 59802
CommercialSale, Missoula, MT
Property Size2,925 SF
Lot Size0.07 Acres
Price / SF$271.79
Days on Market4
Property Features for 245 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
D-C- Downtown Core
Parking features
On Street
Directions
From N Orange Street, head east on W Main Street. The property is on the south side of Main Street at 245 W Main, the Ole Beck VFW Post.
Standard status
Active
APN
04220022220030000
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WJ MCCORMICKS ADDITION, S22, T13 N, R19 W, BLOCK 26, Lot 11, FRAC OF
Tax Annual Amount
388
Legal Description
WJ MCCORMICKS ADDITION, S22, T13 N, R19 W, BLOCK 26, Lot 11, FRAC OF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1965
Listing Agency:
Engel & Volkers Western Frontier - Missoula · Engel & Völkers
(406) 926-3322
Listed By:
William Ward · License #RRE-RBS-LIC-108369
(406) 531-3438
Added: Sep 24
Changed: Sep 27
Last Checked: Sep 27 at 10:06AM
MLS# 30078830
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.
At 245 W Main Street in downtown Missoula, this retail property contains approximately 2,925 square feet on a 3,006-square-foot parcel. The building dates to 1965 and previously housed the Ole Beck VFW Post. Heating is forced air, cooling is central air, and water and sewer service are public. Parking is on street.
The property is zoned D-C Downtown Core. City permit records include work on water and sewer lines, plumbing and bathrooms, and mechanical systems. Potential uses are subject to city requirements and approvals.
The property is zoned D-C Downtown Core. City permit records include work on water and sewer lines, plumbing and bathrooms, and mechanical systems. Potential uses are subject to city requirements and approvals.
Key Highlights
- Approximately 2,925 square feet of commercial space on a 3,006‑square‑foot parcel
- D‑C Downtown Core zoning; uses subject to city requirements and approvals
- Public water and sewer, forced‑air heating, and central air conditioning
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
$36,118
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
4.54%
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%
$722,360
$722.4K
Cap Rate 7%
$515,971
$516.0K
Cap Rate 9%
$401,311
$401.3K
Market Conditions
NOI Build-Up for 2,925 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
$52.7K $18.00/SF
− Vacancy
−$1.1K −$0.36/SF
EGI
$51.6K $17.64/SF
− OpEx
−$15.5K −$5.29/SF
NOI
$36.1K $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%
$722,360
Cap Rate 7%
$515,971
Cap Rate 9%
$401,311
Alternative Uses
Best Use
Retail
$516.0K
$451.5K – $602.0K
NOI $36,118 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$843.3K
$737.9K – $983.9K
NOI $59,034 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,301
Businesses Nearby
43k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Hotels & Casinos 42%
Dining 10%
Apparel 2%
Residence Inn by Marriott Missoula Downtown
Hotels & Casinos
14,080 visits/mo
0.2 miles
Exxon
Shops & Services
5,435 visits/mo
0.4 miles
Sinclair
Shops & Services
5,172 visits/mo
0.5 miles
The UPS Store
Shops & Services
5,006 visits/mo
0.1 miles
Jimmy John's
Dining
4,247 visits/mo
0.2 miles
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - D-C Downtown Core zoning permits a range of uses, subject to city requirements and approvals.
Where is this storefront property located?
The property is located at 245 W Main Street Missoula, MT.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Approximately 2,925 square feet of commercial space on a 3,006‑square‑foot parcel; D‑C Downtown Core zoning; uses subject to city requirements and approvals; Public water and sewer, forced‑air heating, and central air conditioning
