Versatile Property on Central
For Sale
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312 Central Avenue W, Great Falls, MT 59404
Functional layout, standout visibility, and convenient parking on Central Avenue.
Property Size2,640 SF
Price / SF$94.70
Days on Market1063
Property Features for 312 Central Avenue W
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Mixed Use
Zoning
C-2
Building Details
Year Built
1949
Listing Agency:
Macek Companies Inc.
(406) 727-5505
Listed By:
Krista Shaffer · License #RRE-BRO-LIC-53657
Source:
Crexi
Added: Sep 23, 2023
Changed: Aug 20
Last Checked: Aug 20 at 12:56PM
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 Macek Companies Inc.
Investment Insights
Based on property information with market context.
This versatile 2,640 square foot property, previously home to Alias Smith & Jones Pawn Shop, offers a functional layout and standout visibility suitable for various business uses. Large front display windows provide natural light and prime space for showcasing products or services to street traffic. Convenient front-door parking ensures easy access for customers and staff. Inside, a generous storage room offers ample space for inventory, equipment, or supplies. The main level includes a restroom and a smaller storage room, with additional storage located on the second floor. A crawl space underneath the building provides easy access for renovations. Positioned on a busy corridor, the building delivers excellent exposure and consistent foot and vehicle traffic. The property is located at 312 Central Avenue W, Great Falls, MT 59404.
Key Highlights
- High visibility on a busy corridor with consistent foot and vehicle traffic.
- Large front display windows providing natural light and product showcase potential.
- Convenient front‑door parking for easy customer and staff access.
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
$17,820
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
7.13%
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%
$356,400
$356.4K
Cap Rate 7%
$254,571
$254.6K
Cap Rate 9%
$198,000
$198.0K
Market Conditions
NOI Build-Up for 2,640 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
$31.7K $12.00/SF
− Vacancy
−$3.2K −$1.20/SF
EGI
$28.5K $10.80/SF
− OpEx
−$10.7K −$4.05/SF
NOI
$17.8K $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 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%
$356,400
Cap Rate 7%
$254,571
Cap Rate 9%
$198,000
Alternative Uses
Best Use
Mixed Use
$254.6K
$222.8K – $297.0K
NOI $17,820 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$513.8K
$449.6K – $599.4K
NOI $35,964 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 59404, MT
28,131
Population
11,828
Households
2.4
Avg Household Size
42
Median Age
31%
College-Educated
94%
High-School Grad
331.4 sq mi
ZIP Area
85
Density / Sq Mi
$79,327
Median Household Income
$44,545
Median Earnings
$1,034
Median Rent
$272,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Functional layout, standout visibility, and convenient parking on Central Avenue.
Where is this mixed-use property located?
The property is located at 312 Central Avenue W Great Falls, MT.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: High visibility on a busy corridor with consistent foot and vehicle traffic.; Large front display windows providing natural light and product showcase potential.; Convenient front‑door parking for easy customer and staff access.
