Mixed-Use 7-Unit
412 E Spruce St Missoula, MT 59802
412 E Spruce St, Missoula, MT, 59802
$850,000
For Sale
$850,000
Seven-unit mixed-use building with 6 residential units and a commercial space plus two leased garage bays.
Property Size5,419 SF
Price / SF$156.86
Days on Market24
Property Features for 412 E Spruce St
General Information
- Standard status
- Active
- Size
- 5,419 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1910
Listing agency
Ink Realty Group
(406) 240-9545
Listed by
Maggie Springer · License #RRE-RBS-LIC-71615
Source
Westmontanahomes
Added: Jun 29 Updated: Jul 22 at 4:43AM Checked: Jul 22 at 4:43AM
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 Ink Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property includes 6 residential units and 1 commercial space, with two leased garage bays. The building is fully leased. Off-street parking is provided with two spaces in front and one off-street space in the back, with additional on-street parking available.
Recent updates include new paint and flooring in four of the units within the last three years. Additional improvements noted include updated insulation, updated electrical in the attics, and high ceilings. The building also has four coin-op laundry machines.
The property is described as being near downtown and close to Black Coffee and the University, supporting tenant demand for both residential and the on-site commercial component.
Recent updates include new paint and flooring in four of the units within the last three years. Additional improvements noted include updated insulation, updated electrical in the attics, and high ceilings. The building also has four coin-op laundry machines.
The property is described as being near downtown and close to Black Coffee and the University, supporting tenant demand for both residential and the on-site commercial component.
Key Highlights
- 7‑unit mixed‑use property at 412 E Spruce and 411 E Alder: 6 residential units plus 1 commercial space
- Fully leased income property with 2 leased garage bays
- 2 off‑street parking spaces in front and 1 off‑street parking space in back/on street
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.4k | $21.12 |
| − Vacancy | −$9.3k | −$1.71 |
| EGI | $105.2k | $19.41 |
| − OpEx | −$47.3k | −$8.73 |
| NOI | $57.8k | $10.68 |
5,419 SF · lease $21.12/SF/yr · vacancy 8.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$826.4K
$723.1K – $964.1K
NOI $57,848 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,369 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Seven-unit mixed-use building with 6 residential units and a commercial space plus two leased garage bays.
Where is this apartment building located?
The property is located at 412 E Spruce St Missoula, MT.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 7‑unit mixed‑use property at 412 E Spruce and 411 E Alder: 6 residential units plus 1 commercial space; Fully leased income property with 2 leased garage bays; 2 off‑street parking spaces in front and 1 off‑street parking space in back/on street
