Building Details

Building Size 2,925 SF

Year Built 1965

Listing Agency: Engel & Völkers Western Frontier - Missoula

Listed By: William Ward · License #RRE-RBS-LIC-108369 Show Phone

Source: Purewestrealestate

Added: Oct 12 Changed: Oct 23 Last Checked: Oct 23 at 3:25AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

At 245 W Main Street, this storefront property contains approximately 2,925 square feet on a 3,006-square-foot parcel. Built in 1965, the building has documented water and sewer service line replacements, along with plumbing, bathroom, and mechanical work. The property is zoned D-C Downtown Core; potential uses are subject to city requirements and approvals.

The property is in downtown Missoula. Buyers should verify the building area, permit records, and fit for their intended use.

Key Highlights

• Approximately 2,925 square feet of commercial space on a 3,006‑square‑foot parcel
• D‑C Downtown Core zoning; potential uses require city review and approval
• 1965 construction with documented water and sewer line replacements

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,118

Cap Rate

4.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$722,360 $722.4K

Cap Rate 7%

$515,971 $516.0K

Cap Rate 9%

$401,311 $401.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,925 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $59,034 @ 7.0% cap · market cap 7.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Veterans for Foreign War ... Advocacy Group VFW Poker Hotel & Motel Bone Dry Comedy ... Nightclub

Suggested Use

Top Pick Auto Parts Store Carpet & Flooring Store (Bike/Boat/Book/etc) Store Home Appliance Store Plumbing Service Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - D-C Downtown Core zoning supports 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; potential uses require city review and approval; 1965 construction with documented water and sewer line replacements