Fenced Flex
For Sale
Under Contract
$1,275,000
2840 Stockyard Road, Missoula, MT 59808
CommercialSale, Missoula, MT
Property Size7,125 SF
Lot Size0.85 Acres
Price / SF$178.95
Days on Market177
Property Features for 2840 Stockyard Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
7
Directions
Turn onto US-93 N/S Reserve St Pass by Wendy's (on the right in 1.7 mi) Turn right onto Stockyard Rd Pass by Jiffy Lube (on the right) Turn left Destination will be on the left 2840 Stockyard Rd Missoula, MT 59808
Standard status
Active Under Contract
APN
04220008203010000
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S08, T13 N, R19 W, ACRES 0.85, DE 03057
Tax Annual Amount
21055
Legal Description
S08, T13 N, R19 W, ACRES 0.85, DE 03057
Amenities
3-phase power
fully paved
chain-link fencing
yard space
Building Details
Year built
1968
Listing Agency:
RE/MAX All Stars · RE/MAX International
(406) 542-8644
Listed By:
Mark McQuirk · License #RRE-BRO-LIC-13234
(406) 880-7253
Added: Feb 25
Changed: Aug 21
Last Checked: Aug 21 at 5:06AM
MLS# 30065497
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 flex property at 2840 Stockyard Road includes two buildings totaling approximately 7,125 SF on approximately .85 of an acre. Building #1 contains 4,725 SF, with free-span warehouse and shop space at the rear and office and showroom areas at the front. Building #2 provides 2,400 SF configured with office and warehouse/shop space. The property was built in 1968 and has 3-phase power throughout.
The site is fully paved and enclosed by chain-link fencing, creating secured outdoor space for fleet parking, equipment storage, or staging. Its position near North Reserve Street and I-90 supports access for commercial operations and logistics. The layout accommodates owner-user operations, while the separate second building may support an additional income configuration.
The site is fully paved and enclosed by chain-link fencing, creating secured outdoor space for fleet parking, equipment storage, or staging. Its position near North Reserve Street and I-90 supports access for commercial operations and logistics. The layout accommodates owner-user operations, while the separate second building may support an additional income configuration.
Key Highlights
- Two buildings total approximately 7,125 SF
- Building #1 measures 4,725 SF; Building #2 measures 2,400 SF
- Approximately .85 acres with a fully paved, chain‑link‑fenced site
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
$88,031
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
6.90%
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%
$1,760,620
$1.8M
Cap Rate 7%
$1,257,586
$1.3M
Cap Rate 9%
$978,122
$978.1K
Market Conditions
NOI Build-Up for 7,125 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
$153.9K $21.60/SF
− Vacancy
−$18.5K −$2.59/SF
EGI
$135.4K $19.01/SF
− OpEx
−$47.4K −$6.65/SF
NOI
$88.0K $12.36/SF
Area
Missoula County, MT
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,760,620
Cap Rate 7%
$1,257,586
Cap Rate 9%
$978,122
Alternative Uses
Best Use
Flex RnD
$1.26M
$1.10M – $1.47M
NOI $88,031 @ 7.0% cap · market cap 6.90%
Second Best
Office B
$1.19M
$1.04M – $1.38M
NOI $83,042 @ 7.0% cap · market cap 6.51%
Theoretical Best
Specialty Retail
$2.05M
$1.80M – $2.40M
NOI $143,800 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59808, MT
21,546
Population
9,938
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
97%
High-School Grad
157.1 sq mi
ZIP Area
137
Density / Sq Mi
$76,795
Median Household Income
$39,324
Median Earnings
$1,236
Median Rent
$419,800
Median Home Value
Market
Vacancy Rate% for Office 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 buildings combine warehouse, shop, office, and showroom space with paved outdoor areas and 3-phase power.
Where is this flex space located?
The property is located at 2840 Stockyard Road Missoula, MT.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Two buildings total approximately 7,125 SF; Building #1 measures 4,725 SF; Building #2 measures 2,400 SF; Approximately .85 acres with a fully paved, chain‑link‑fenced site
