Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Missoula Office and Garage Space Title is generated by Realmo AI

    306 Railroad St W, Missoula, MT 59802

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Versatile office and garage space in downtown Missoula.

    Type:Office
    Property size:
    4,040 SF
    Added:
    Mar 6, 2026
    Days on Market:
    77
    Last Refresh:
    Apr 5 at 11:06 pm

    Property Features for 306 Railroad St W

    General Information

    Standard status
    Active
    Size
    4,040 SF
    Property subtype
    Office

    Building Details

    Year Built
    1925

    Spaces For Lease

    at 306 Railroad St W Contact us

    We can help!

    Listing Contact
    Michael L. Walker
    Michael L. Walker

    Listing agent Michael L. Walker License #RRE-BRO-LIC-9143

    Listing office NAI Business Properties

    Listing date Mar 6, 2026

    Source Naiglobal

    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 NAI Business Properties

    HighLights

    • Prime downtown Missoula ground level office location.
    • Substantial office space: 4,040 SF on the ground level.
    • Additional 1,985 SF of garage space for flexible business use.
    • Features 8 offices, a conference room, and a bull pen area.
    • On‑site parking for convenience.
    • Two storage rooms offer potential for conversion into additional offices.

    Overview

    This property at 306 Railroad St W, Missoula, MT, presents an exceptional leasing opportunity. It features 4,040 square feet of ground-level office space, including eight offices, a conference room, and a bull pen area. A wet bar is also present. Additionally, the property offers 1,985 square feet of garage space, providing flexibility for various business needs. Two storage rooms are present that can be converted into additional offices. On-site parking is available. The property is located in core downtown Missoula and is close to restaurants, making it suitable for a wide range of business endeavors.
    Location Intelligence

    Current Use by Public Records

    Waddell & Reed, Inc. ... Financial Advisor Cushing Terrell - Architecture, ... Architect

    Suggested Use

    Real Estate Agency Restaurant Dental Office Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Missoula
    County
    Missoula
    State
    Montana
    Longitude
    -113.996
    Latitude
    46.8773

    Nearby Similar for Lease

    • $600/Mo
      82 SF

      Downtown Missoula Commercial Suite

      Commercial suite in downtown Missoula with parking.
      207 E Main Street, Missoula, MT 59802
      View Details
    • $950/Mo

      Downtown Missoula Office Space Available

      Prime downtown office space with parking and flexible layout.
      207 E Main Street, Missoula, MT 59802
      View Details
    • $20 SF/Yr
      1,424 SF

      Modern Office Suite in Missoula

      New office suite in a desirable commercial hub.
      5767 W Harrier, Missoula, MT 59802
      View Details
    • $800/Mo

      Downtown Missoula Office Space

      Prime downtown office space with parking and flexible layout.
      207 E Main Street, Missoula, MT 59802
      View Details
    • $750/Mo

      Downtown Missoula Office Space

      Upper-level office space in the heart of downtown Missoula.
      207 E Main Street, Missoula, MT 59802
      View Details
    • $800/Mo

      Downtown Missoula Office Space

      Upper-level office space in the heart of downtown Missoula.
      207 E Main Street, Missoula, MT 59802
      View Details
    • $750/Mo

      Downtown Missoula Office Space

      Upper-level office space in the heart of downtown Missoula.
      207 E Main Street, Missoula, MT 59802
      View Details
    • $950/Mo
      132 SF

      Downtown Missoula Office Space

      Upper-level office space in the heart of downtown Missoula.
      207 E Main Street, Missoula, MT 59802
      View Details
    • $1,220/Mo
      813 SF

      Centrally Located Missoula Office Space

      Lower floor office with private entrance in central Missoula.
      1620 Regent Street, Missoula, MT 59801
      View Details
    • $20 SF/Yr

      Prime Commercial Space on Higgins

      4,200+/- sq ft commercial building in Missoula's Hip Strip.
      817 S Higgins Avenue, Missoula, MT 59801
      View Details
    • $1,100/Mo
      980 SF

      Missoula Office Space For Rent

      Office space in Riverfront neighborhood with downtown access.
      615 Oak Street, Missoula, MT 59801
      View Details
    • $4,100/Mo
      6,180 SF

      Missoula Industrial Space For Lease

      Light industrial units with office space and excellent visibility.
      6900 Kestrel Drive, Missoula, MT 59808
      View Details

    FAQs

    What type of property is this?
    Office units - Versatile office and garage space in downtown Missoula.
    Where is this office units located?
    The property is located at 306 Railroad St W Missoula, MT.
    What are key features of this property?
    This property features: Prime downtown Missoula ground level office location.; Substantial office space: 4,040 SF on the ground level.; Additional 1,985 SF of garage space for flexible business use.
    (406) 294-6304
    We can help!
    Listing Contact
    Michael L. Walker
    Michael L. Walker
    Real Estate License ID: RRE-BRO-LIC-9143
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    306 Railroad St W, Missoula, MT 59802
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!