Open-Span Retail and Apartment
For Sale
$1,500,000
302 /304 2nd Ave W, Kalispell, MT 59901
Open-span ground floor retail with basement storage and three upstairs apartments with private entrances.
Property Size12,000 SF
Price / SF$125
Days on Market95
Property Features for 302 /304 2nd Ave W
General Information
Standard status
Active
Size
12,000 SF
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Northwest Montana
Listed By:
Ted Dykstra Jr · License #RRE-BRO-LIC-10713
(406) 249-8345
Source:
Performance-realestate
Added: Jul 21
Changed: Oct 20
Last Checked: Oct 20 at 9:33PM
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 Keller Williams Realty Northwest Montana
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Investment Insights
Based on property information with market context.
This mixed-use building features an open-span ground floor designed for retail concepts, with basement space limited to storage. Upstairs includes three apartments with private entrances: two studio units and one 3-bedroom, 1-bath owner’s unit. The property has been tastefully remodeled and updated, and the current tenant setup is described as one that tenants would be happy to continue.
Located on a corner lot with both on- and off-street parking, the building sits across the street from Black Rifle Coffee and the Downtown Post Office. The remarks also note nearby businesses including Sykes Diner and a barber shop, as well as proximity to banks, shopping, and restaurants. An alley shipping and receiving door is included, along with overnight parking for tenants.
The sale is for the real estate only; the business is not included.
Located on a corner lot with both on- and off-street parking, the building sits across the street from Black Rifle Coffee and the Downtown Post Office. The remarks also note nearby businesses including Sykes Diner and a barber shop, as well as proximity to banks, shopping, and restaurants. An alley shipping and receiving door is included, along with overnight parking for tenants.
The sale is for the real estate only; the business is not included.
Key Highlights
- 12,000 SF Kalispell commercial building on a corner lot across from Black Rifle Coffee and the Downtown Post Office
- Open‑span ground floor retail space designed for flexible retail layouts
- Basement is storage only
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,330
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,406,600
$2.4M
Cap Rate 7%
$1,719,000
$1.7M
Cap Rate 9%
$1,337,000
$1.3M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$180.0K $15.00/SF
− Vacancy
−$8.1K −$0.68/SF
EGI
$171.9K $14.33/SF
− OpEx
−$51.6K −$4.30/SF
NOI
$120.3K $10.03/SF
Area
Flathead County, MT
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,406,600
Cap Rate 7%
$1,719,000
Cap Rate 9%
$1,337,000
Alternative Uses
Best Use
Retail
$2.43M
$2.13M – $2.84M
NOI $170,226 @ 7.0% cap · market cap 11.35%
Second Best
Multifamily LT 5
$1.72M
$1.50M – $2.01M
NOI $120,330 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$2.68M
$2.34M – $3.13M
NOI $187,546 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,123
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Open-span ground floor retail with basement storage and three upstairs apartments with private entrances.
Where is this mixed-use property located?
The property is located at 302 /304 2nd Ave W Kalispell, MT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 12,000 SF Kalispell commercial building on a corner lot across from Black Rifle Coffee and the Downtown Post Office; Open‑span ground floor retail space designed for flexible retail layouts; Basement is storage only
