Open-Span Fitness
For Sale
$2,250,000
Pending
300 1st Avenue W, Kalispell, MT 59901
Flexible interior supports fitness, retail, service, office, restaurant, and entertainment concepts.
Property Size9,668 SF
Days on Market58
Property Features for 300 1st Avenue W
General Information
Standard status
Pending
Size
9,668 SF
Property subtype
Commercial
Zoning
Business, B-4
Taxes and HOA fees
Annual Taxes
$18,650
Building Details
Building Size
9,668 SF
Year Built
1965
Buildings
1
Construction
open-span construction
Listing Agency:
Silvercreek Realty Group LLC - MT
(406) 270-2121
Listed By:
James W Williamson · License #62214
(406) 270-2121
Source:
Missionvalleyproperties
Added: Jul 4
Changed: Aug 30
Last Checked: Jul 8 at 2:19PM
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 Silvercreek Realty Group LLC - MT
Investment Insights
Based on property information with market context.
Located at 300 1st Avenue W in downtown Kalispell, this 9,668-square-foot commercial building was constructed in 1965 and is currently operating as a gym. Open-span construction creates a broad interior that can be adapted for changing layouts and operational needs.
The property can accommodate fitness and wellness concepts as well as retail, specialty market, entertainment, office, restaurant, or multi-tenant configurations. Its central downtown setting places the building within Kalispell’s shopping, dining, and professional-services district.
The property can accommodate fitness and wellness concepts as well as retail, specialty market, entertainment, office, restaurant, or multi-tenant configurations. Its central downtown setting places the building within Kalispell’s shopping, dining, and professional-services district.
Key Highlights
- 9,668‑square‑foot commercial building
- Currently operating as a gym
- Open‑span construction supports flexible reconfiguration
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
$137,145
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
6.10%
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%
$2,742,900
$2.7M
Cap Rate 7%
$1,959,214
$2.0M
Cap Rate 9%
$1,523,833
$1.5M
Market Conditions
NOI Build-Up for 9,668 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
$203.0K $21.00/SF
− Vacancy
−$7.1K −$0.74/SF
EGI
$195.9K $20.27/SF
− OpEx
−$58.8K −$6.08/SF
NOI
$137.1K $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%
$2,742,900
Cap Rate 7%
$1,959,214
Cap Rate 9%
$1,523,833
Alternative Uses
Best Use
Retail
$1.96M
$1.71M – $2.29M
NOI $137,145 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,099 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,177
Businesses Nearby
103k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 29%
Shops & Services 28%
Home Improvements & Furnishings 3%
Super 1 Foods
Groceries
29,600 visits/mo
0.5 miles
Starbucks
Dining
14,085 visits/mo
0.3 miles
AutoZone
Shops & Services
6,511 visits/mo
0.4 miles
KFC
Dining
5,904 visits/mo
0.4 miles
Black Rifle Coffee Company
Dining
5,832 visits/mo
0.0 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Massage & Wellness — 723 5th Ave E #124, Kalispell, MT 59901
- The Wellness Resource Center — 725 6th Ave E, Kalispell, MT 59901
- Middle Path CrossFit — 322 2nd St W, Kalispell, MT 59901
- LOVE YOGA: Hot Yoga and Barre - Kalispell — 201 3rd Ave W, Kalispell, MT 59901
- American Axe — 403 2nd ave w, kalispell, mt 59901
Frequently Asked Questions
What type of property is this?
Fitness center & gym - Flexible interior supports fitness, retail, service, office, restaurant, and entertainment concepts.
Where is this fitness center & gym located?
The property is located at 300 1st Avenue W Kalispell, MT.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 9,668‑square‑foot commercial building; Currently operating as a gym; Open‑span construction supports flexible reconfiguration
