Flex Space with Roll-Up
For Sale
$1,350,000
405 W Idaho St, Kalispell, MT 59901
Adaptable commercial building supporting warehouse, retail, office, or service uses.
Property Size9,004 SF
Price / SF$149.93
Days on Market18
Property Features for 405 W Idaho St
General Information
Standard status
Active
Size
9,004 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1977
Listing Agency:
PureWest Real Estate - Kal/Commercial
(406) 212-0112
Listed By:
David Girardot · License #RRE-BRO-LIC-12946
Source:
Performance-realestate
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 25 at 8:44AM
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 PureWest Real Estate - Kal/Commercial
Investment Insights
Based on property information with market context.
Built in 1977, this 9,004-square-foot flex property combines a versatile interior with features suited to commercial operations. The building can be configured as two separate spaces and includes concrete floors, two roll-up doors, and two double man doors. Its layout supports warehouse, retail, office, and service applications, with signage opportunities available.
The property occupies a corner position at 405 W Idaho St in Kalispell’s central business district, along US Highway 2. Access is available from both directions, placing the building within a prominent central corridor. The combination of flexible division, loading access, and highway exposure gives users multiple ways to organize the space around their operations.
The property occupies a corner position at 405 W Idaho St in Kalispell’s central business district, along US Highway 2. Access is available from both directions, placing the building within a prominent central corridor. The combination of flexible division, loading access, and highway exposure gives users multiple ways to organize the space around their operations.
Key Highlights
- 9,004 SF flex property built in 1977
- Corner location at 405 W Idaho St in Kalispell’s central business district
- Positioned along US Highway 2 with access from both directions
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
$82,522
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
6.11%
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%
$1,650,440
$1.7M
Cap Rate 7%
$1,178,886
$1.2M
Cap Rate 9%
$916,911
$916.9K
Market Conditions
NOI Build-Up for 9,004 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
$135.1K $15.00/SF
− Vacancy
−$8.1K −$0.90/SF
EGI
$127.0K $14.10/SF
− OpEx
−$44.4K −$4.94/SF
NOI
$82.5K $9.17/SF
Area
Flathead County, MT
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,650,440
Cap Rate 7%
$1,178,886
Cap Rate 9%
$916,911
Alternative Uses
Best Use
Flex RnD
$1.18M
$1.03M – $1.38M
NOI $82,522 @ 7.0% cap · market cap 6.11%
Second Best
Warehouse
$939.7K
$822.3K – $1.10M
NOI $65,781 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,722 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,946
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building supporting warehouse, retail, office, or service uses.
Where is this flex space located?
The property is located at 405 W Idaho St Kalispell, MT.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 9,004 SF flex property built in 1977; Corner location at 405 W Idaho St in Kalispell’s central business district; Positioned along US Highway 2 with access from both directions
