Flex Industrial Corner
For Sale
$1,350,000
405 W Idaho Street, Kalispell, MT 59901
Corner commercial building with two roll-up doors, concrete floors, and flexible layout suited for multiple uses.
Property Size9,004 SF
Days on Market36
Property Features for 405 W Idaho Street
General Information
Standard status
Active
Size
9,004 SF
Property subtype
Commercial
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$16,152
Building Details
Building Size
9,004 SF
Year Built
1977
Listing Agency:
PureWest Real Estate - Kal/Commercial
(406) 751-4330
Listed By:
David Girardot · License #RRE-BRO-LIC-12946
(406) 751-4330
Source:
Avatarrealtymt
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 22 at 8:51AM
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.
This corner commercial property offers a flexible building layout that can support warehouse, retail, office, or service uses, with the ability to be divided into two distinct spaces. The improvements include two roll-up doors and two double man doors, along with concrete floors suitable for forklifts or pallet jacks. The building also provides excellent opportunities for signage.
The property is located at the intersection on US Highway 2 in Kalispell’s central business district, providing access and exposure from both directions.
With its versatile configuration and loading-friendly features, the site can accommodate a range of operational needs where convenient highway access and adaptable space are important.
The property is located at the intersection on US Highway 2 in Kalispell’s central business district, providing access and exposure from both directions.
With its versatile configuration and loading-friendly features, the site can accommodate a range of operational needs where convenient highway access and adaptable space are important.
Key Highlights
- Year built 1977 corner commercial building at the intersection of US Highway 2 in Kalispell’s central business district
- Visible from both directions along US Highway 2 with access/exposure from heavy‑traffic corridor
- Flexible interior layout that can be divided into two distinct spaces for multiple business uses
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
2
Drive-in doors
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial building with two roll-up doors, concrete floors, and flexible layout suited for multiple uses.
Where is this flex space located?
The property is located at 405 W Idaho Street 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: Year built 1977 corner commercial building at the intersection of US Highway 2 in Kalispell’s central business district; Visible from both directions along US Highway 2 with access/exposure from heavy‑traffic corridor; Flexible interior layout that can be divided into two distinct spaces for multiple business uses
