Mixed-Use Institutional
New
For Sale
$4,250,000
2816 Central Avenue, Great Falls, MT 59401
A church, school, housing, and shared facilities form a multi-building property on Central Avenue.
Property Size54,614 SF
Price / SF$77.82
Days on Market2
Property Features for 2816 Central Avenue
General Information
Standard status
Active
Size
54,614 SF
Property Condition
Severity
Repairs Needed
Evidence
Basement of rectory had a prior water event and flooring was not replaced.
Additional Details
Road Access
Yes
Amenities
commercial kitchen
playground
basketball courts
gymnasium
Listing Agency:
High Country Collective, LLC
(406) 235-7688
Listed By:
Krista Shaffer
(406) 403-2534
Source:
Hrrealtymt
Added: Nov 4
Last Checked: Nov 4 at 11:23AM
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 High Country Collective, LLC
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Investment Insights
Based on property information with market context.
This multi-building property includes a church, rectory and additional housing, and a school with a gymnasium. The campus also has classrooms, offices, meeting and multipurpose areas, a commercial kitchen, playground, basketball courts, and paved parking. The church sanctuary features wood-beam ceilings and marble columns. The residential spaces include 11 bedrooms, 7 bathrooms, multiple kitchens, and living areas. New roofs were installed on the church, rectory, and apartment buildings; updated HVAC serves the church basement.
Located at 2816 Central in Great Falls, the property has alley access and gated parking. The rectory basement experienced a prior water event, and its flooring was not replaced. The property is offered as-is, and furniture, fixtures, and equipment are negotiable as part of the sale.
Located at 2816 Central in Great Falls, the property has alley access and gated parking. The rectory basement experienced a prior water event, and its flooring was not replaced. The property is offered as-is, and furniture, fixtures, and equipment are negotiable as part of the sale.
Key Highlights
- Campus includes a church, rectory, additional housing, and school with gymnasium
- Residential component has 11 bedrooms and 7 bathrooms
- Classrooms, offices, meeting areas, and multipurpose spaces across the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$368,645
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,372,900
$7.4M
Cap Rate 7%
$5,266,357
$5.3M
Cap Rate 9%
$4,096,056
$4.1M
Market Conditions
NOI Build-Up for 54,614 SF
Gross rent
$655.4K $12.00/SF
− Vacancy
−$65.5K −$1.20/SF
EGI
$589.8K $10.80/SF
− OpEx
−$221.2K −$4.05/SF
NOI
$368.6K $6.75/SF
Area
Cascade County, MT
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,372,900
Cap Rate 7%
$5,266,357
Cap Rate 9%
$4,096,056
Alternative Uses
Best Use
Mixed Use
$5.27M
$4.61M – $6.14M
NOI $368,645 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.63M
$9.30M – $12.40M
NOI $743,993 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
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Business Placement
Demographics for 59401, MT
13,030
Population
6,921
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
3.0 sq mi
ZIP Area
4,343
Density / Sq Mi
$53,750
Median Household Income
$33,209
Median Earnings
$767
Median Rent
$206,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A church, school, housing, and shared facilities form a multi-building property on Central Avenue.
Where is this mixed-use property located?
The property is located at 2816 Central Avenue Great Falls, MT.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Campus includes a church, rectory, additional housing, and school with gymnasium; Residential component has 11 bedrooms and 7 bathrooms; Classrooms, offices, meeting areas, and multipurpose spaces across the property
