Storefront Property at Signalized
For Sale
$2,499,000
2501 S Russell Street, Missoula, MT 59801
CommercialSale, Missoula, MT
Property Size11,600 SF
Lot Size0.54 Acres
Price / SF$215.43
Days on Market960
Property Features for 2501 S Russell Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
C1-4
Parking features
On Street
Exterior features
Storage
Directions
Brooks and Russell
Standard status
Active
APN
04220032154200000
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
CENTRAL ADDITION, S32, T13 N, R19 W, BLOCK 6, Lot 1 - 4&CENTRAL ADDITION, S32, T13 N, R19 W, BLOCK 1, FRAC OF LOTS 17 THRU 20
Tax Annual Amount
25476
Legal Description
CENTRAL ADDITION, S32, T13 N, R19 W, BLOCK 6, Lot 1 - 4&CENTRAL ADDITION, S32, T13 N, R19 W, BLOCK 1, FRAC OF LOTS 17 THRU 20
Utilities
Heating system
Zoned, Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
1953
Flooring type
Concrete
Building materials
Block, MetalSiding
Additional Structures
Storage
Listing Agency:
PureWest Real Estate - Missoula
(406) 541-4000
Listed By:
Devin Khoury · License #RRE-BRO-LIC-14766
(406) 207-8200
Added: Jan 4, 2024
Changed: Aug 20
Last Checked: Aug 21 at 3:06AM
MLS# 30018594
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 storefront property includes two commercial buildings totaling approximately 11,600 square feet on two separate legal parcels. The improvements occupy 0.54 acres and include storage, concrete flooring, block and metal siding construction, central air, and zoned forced-air heating powered by natural gas. Existing occupants include a veterinary clinic and a vitamin shop.
The property is positioned at the intersection of Brooks Street and South Russell Street in Missoula, with approximately 50,000 vehicles crossing the intersection each day. The site includes on-street parking, and the ownership would consider selling the parcels individually. The buildings were constructed in 1953.
The property is positioned at the intersection of Brooks Street and South Russell Street in Missoula, with approximately 50,000 vehicles crossing the intersection each day. The site includes on-street parking, and the ownership would consider selling the parcels individually. The buildings were constructed in 1953.
Key Highlights
- Approximately 11,600 square feet across two commercial buildings
- Two separate legal parcels totaling 0.54 acres
- Brooks Street and South Russell Street intersection in Missoula
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
$143,237
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
5.73%
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%
$2,864,740
$2.9M
Cap Rate 7%
$2,046,243
$2.0M
Cap Rate 9%
$1,591,522
$1.6M
Market Conditions
NOI Build-Up for 11,600 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
$208.8K $18.00/SF
− Vacancy
−$4.2K −$0.36/SF
EGI
$204.6K $17.64/SF
− OpEx
−$61.4K −$5.29/SF
NOI
$143.2K $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%
$2,864,740
Cap Rate 7%
$2,046,243
Cap Rate 9%
$1,591,522
Alternative Uses
Best Use
Retail
$2.05M
$1.79M – $2.39M
NOI $143,237 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.34M
$2.93M – $3.90M
NOI $234,117 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
50,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,771
Businesses Nearby
321k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 20%
Apparel 11%
Leisure 9%
Hobby Lobby
Shops & Services
46,562 visits/mo
0.4 miles
Dillard's
Apparel
36,798 visits/mo
0.4 miles
AMC Dine-In Southgate 9
Leisure
29,686 visits/mo
0.5 miles
Albertsons
Groceries
29,181 visits/mo
0.2 miles
Wendy's
Dining
28,108 visits/mo
0.5 miles
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 Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Two commercial buildings offer established retail exposure with on-street parking and separate legal parcels.
Where is this storefront property located?
The property is located at 2501 S Russell Street Missoula, MT.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Approximately 11,600 square feet across two commercial buildings; Two separate legal parcels totaling 0.54 acres; Brooks Street and South Russell Street intersection in Missoula
