Flex Retail and Industrial
For Sale
$1,995,000
2549 US Hwy 2, Kalispell, MT 59901
Two-building flex complex with multiple overhead doors, showroom space, gated fenced yard, and ample parking on 3.02 acres.
Property Size11,400 SF
Price / SF$175
Days on Market35
Property Features for 2549 US Hwy 2
General Information
Standard status
Active
Size
11,400 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,204
Amenities
Garage: Gated
Gated
Building Details
Year Built
1974
Listing Agency:
Berkshire Hathaway HomeServices - Missoula
(406) 360-9849
Listed By:
Jen Clement · License #RRE-BRO-LIC-14101
Source:
Clearwaterproperties
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 23 at 7:08AM
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 Berkshire Hathaway HomeServices - Missoula
Investment Insights
Based on property information with market context.
A versatile industrial and retail flex property featuring two buildings on 3.02 acres, designed to support multiple types of operations. The industrial/shop building includes multiple garage bays with overhead doors and dedicated office areas, a kitchen/breakroom, and bathrooms. The retail/showroom building offers a customer-facing open showroom floor, office/flex space, and two bathrooms.
The site is gated and fully fenced and includes ample parking and yard space suitable for outdoor storage or other exterior uses. The property is located within a commercial corridor and is zoned B-2 with the Evergreen Enterprise Overlay, providing flexibility for a wide range of commercial uses.
Ideal for buyers seeking a combined industrial and retail configuration, the buildings are set up to accommodate vehicle/equipment access through overhead doors while also providing dedicated customer and office-ready space within the second structure.
The site is gated and fully fenced and includes ample parking and yard space suitable for outdoor storage or other exterior uses. The property is located within a commercial corridor and is zoned B-2 with the Evergreen Enterprise Overlay, providing flexibility for a wide range of commercial uses.
Ideal for buyers seeking a combined industrial and retail configuration, the buildings are set up to accommodate vehicle/equipment access through overhead doors while also providing dedicated customer and office-ready space within the second structure.
Key Highlights
- 3.02‑acre commercial property on a gated, fully fenced site with ample parking and yard space
- Two‑building flex complex (industrial/shop building and retail/showroom building) for diversified business use
- Industrial/shop building with multiple garage bays, overhead doors, office space, kitchen/breakroom, and bathrooms
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
$161,715
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
8.11%
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%
$3,234,300
$3.2M
Cap Rate 7%
$2,310,214
$2.3M
Cap Rate 9%
$1,796,833
$1.8M
Market Conditions
NOI Build-Up for 11,400 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
$239.4K $21.00/SF
− Vacancy
−$8.4K −$0.74/SF
EGI
$231.0K $20.27/SF
− OpEx
−$69.3K −$6.08/SF
NOI
$161.7K $14.19/SF
Area
Flathead County, MT
Vacancy
3.50%
Lease Rate
$21.00 /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%
$3,234,300
Cap Rate 7%
$2,310,214
Cap Rate 9%
$1,796,833
Alternative Uses
Best Use
Retail
$2.31M
$2.02M – $2.70M
NOI $161,715 @ 7.0% cap · market cap 8.11%
Second Best
Flex RnD
$1.49M
$1.31M – $1.74M
NOI $104,481 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,168 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two-building flex complex with multiple overhead doors, showroom space, gated fenced yard, and ample parking on 3.02 acres.
Where is this flex space located?
The property is located at 2549 US Hwy 2 Kalispell, MT.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 3.02‑acre commercial property on a gated, fully fenced site with ample parking and yard space; Two‑building flex complex (industrial/shop building and retail/showroom building) for diversified business use; Industrial/shop building with multiple garage bays, overhead doors, office space, kitchen/breakroom, and bathrooms
