Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3131 N Montana Ave Helena, MT 59602

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $13 SF/Yr

    12,000 SF retail space in Northside Shopping Center.

    Type:Retail
    Property size:
    12,000 SF
    Added:
    Nov 21, 2025
    Days on Market:
    136
    Last Refresh:
    Dec 3 at 5:58 am

    Property Features for 3131 N Montana Ave

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1994

    Spaces For Lease

    at 3131 N Montana Ave 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 Nov 21, 2025

    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

    Overview

    Prime Retail Space on Montana

    Located in the Northside Shopping Center in Helena, MT, this former Joann location offers a prime retail opportunity. Situated on N Montana Avenue, a major arterial connecting the north valley to the state capital, the property benefits from high visibility and accessibility. Custer Avenue, the most traveled I-90 exit for the city, further enhances its strategic location. The retail space measures 12,000 square feet, with approximate dimensions of 93 feet by 132 feet and an approximate ceiling height of 11 feet from floor to finished ceiling. Features include a rear loading door and abundant parking. The property is adjacent to Albertsons and a soon-to-be-redeveloped former Shopko. Anchors in the vicinity include Albertsons, Target, Ross, Old Navy, Petsmart, and Famous Footwear.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    JOANN Fabric and Crafts (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Helena
    County
    Lewis and Clark
    State
    Montana
    Longitude
    -112.0185764
    Latitude
    46.6183093

    Nearby Similar for Lease

    • $25/mo

      Helena Office Spaces Available

      Office spaces for rent with flexible lease terms.
      2001 11th Avenue, Helena, MT 59601
      View Details
    • $12/mo

      Class A Office Space

      Bright office space with views, natural light, and parking.
      754 River Rock Drive unit: 100, Helena, MT 59602
      View Details
    • $19/mo

      Helena Office Suite For Lease

      Office suite in Helena's medical park, ideal for medical use.
      2626 Winne Avenue, Helena, MT 59601
      View Details
    • Contact for pricing

      Office Space For Rent

      Office space available with high visibility and ample parking.
      629 Helena Avenue, Helena, MT 59601
      View Details
    • $22/mo

      Helena Office Building Near Airport

      Well-maintained office building with flexible lease options near airport.
      2831 Airport Road unit: Suites A & B, Helena, MT 59601
      View Details
    • $17/mo

      Helena Commercial Space For Lease

      Office suites available near Capitol, hospital, and freeway.
      2030 11th Avenue unit: Suite 2, Suite 3, Helena, MT 59601
      View Details
    • $13/mo

      Retail Space in Northside Center

      Former Joann location in Helena's Northside Shopping Center.
      3131 N Montana Ave, Helena, MT 59602
      View Details
    • $25/mo

      Prime Office Space Available

      3,200 SF office space with flexible terms for rent.
      2001 11th Avenue, Helena, MT 59601
      View Details
    • $9/mo

      Renovated Office Suites in Helena

      Affordable, renovated office suites in downtown Helena with pending improvements.
      534 N Last Chance Gulch, Helena, MT
      View Details
    • $22/mo

      Well-Maintained Office Building Near Airport

      Helena office building with flexible lease options near the airport.
      2831 Airport Road unit: Suite B, Helena, MT 59601
      View Details
    • $22/mo

      Well-Maintained Office Building Near Airport

      Office building near Helena Regional Airport with flexible lease options.
      2831 Airport Road unit: Suite A, Helena, MT 59601
      View Details
    • Contact for pricing

      East Valley Private Office Space

      Comfortable office space in a growing east valley location.
      3156 Tancy Dr, Helena, MT
      View Details

    FAQs

    What type of property is this?
    Retail space - 12,000 SF retail space in Northside Shopping Center.
    Where is this retail space located?
    The property is located at 3131 N Montana Ave Helena, MT.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Prime location on N Montana Avenue, a major arterial connecting the north valley to the state capital.; Located in the Northside Shopping Center, adjacent to Albertsons and a soon‑to‑be‑redeveloped former Shopko.; Anchored by major retailers including Albertsons, Target, Ross, Old Navy, Petsmart, and Famous Footwear.
    (406) 690-2320
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!