Industrial Land with Railroad
4685 Expressway Missoula, MT 59808
For Sale
$3,400,000
Commercial Sale, Other - Missoula, MT
Property Size23,520 SF
Lot Size5.19 Acres
Price / SF$144.56
Days on Market19
Property Features for 4685 Expressway
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- M1R-2 Light industrial/Commercial
- Standard status
- Active
- APN
- 04219901101020000
- Lot size
- 5.19 Acres
Building Details
- Year built
- 1994
- Architectural style
- Other
Listing Agency:
Engel & Völkers Missoula
(406) 926-3322
Listed By:
Sharon Gordon
(406) 239-1614
Added: Jul 7
Changed: Jul 15
Last Checked: Jul 25 at 4:06AM
MLS# 30072297
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale industrial property totals 5.19 acres and includes a light industrial building used alongside an approximately 1,930 square foot office building. Approximately 2.54 acres are leased, with the industrial building totaling approximately 21,590 square feet. The remaining 2.65 acres are undeveloped and ready for future development.
The property is zoned M1R-2 Light industrial/Commercial. An existing NNN lease is in place through April 2029 with an ability to extend, bringing in $15,544 per month. Under the lease, the tenant pays 78% of taxes and all insurance for the building and land. The owner has reported a city PRT meeting and approval to install drainage run in the front ditch along Expressway and use the community pond, subject to verification.
Engineering work includes four test pits excavated to 10 feet deep in January 2026, with results described as crushed asphalt and concrete with native soils. A Phase I report was completed and is available. The property also has a Burlington Railroad spur on it and includes a road running through it, which the remarks indicate supports access to the vacant acres.
The property is zoned M1R-2 Light industrial/Commercial. An existing NNN lease is in place through April 2029 with an ability to extend, bringing in $15,544 per month. Under the lease, the tenant pays 78% of taxes and all insurance for the building and land. The owner has reported a city PRT meeting and approval to install drainage run in the front ditch along Expressway and use the community pond, subject to verification.
Engineering work includes four test pits excavated to 10 feet deep in January 2026, with results described as crushed asphalt and concrete with native soils. A Phase I report was completed and is available. The property also has a Burlington Railroad spur on it and includes a road running through it, which the remarks indicate supports access to the vacant acres.
Key Highlights
- 1994‑built industrial property on 5.19 acres with approximately 21,590 SF light industrial space and approximately 1,930 SF office
- 2.54 acres leased under NNN terms; rent is $15,544/month with 78% tax and all insurance paid by tenant
- NNN lease in place until April 2029 with ability to extend; rent increases 3% annually
Financial Insights For Office B
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 | $493.9k | $21.00 |
| − Vacancy | −$128.4k | −$5.46 |
| EGI | $365.5k | $15.54 |
| − OpEx | −$91.4k | −$3.89 |
| NOI | $274.1k | $11.66 |
23,520 SF · lease $21.00/SF/yr · vacancy 26.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.92M
$3.43M – $4.57M
NOI $274,126 @ 7.0% cap · market cap 8.06%
Second Best
Warehouse
$2.96M
$2.59M – $3.46M
NOI $207,469 @ 7.0% cap · market cap 6.10%
Theoretical Best
Specialty Retail
$6.78M
$5.93M – $7.91M
NOI $474,692 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
GTS Interior Supply
Big Box & Wholesale Store
Similar Off Market Nearby
- Vigilante Storage Center & Park N' Fly — 4050 W Broadway St, Missoula, MT 59808
- All Star Self Storage — 4645 Harlequin Ct, Missoula, MT 59808
- Mvli Properties / Storage, Llc — Biggers Ln, Missoula, MT 59808
- Storage Solutions Records Management — 4545 Majestic Dr b, Missoula, MT 59808
- Mr. T's Self Storage — 5075 Expressway, Missoula, MT 59808
FAQs
What type of property is this?
Warehouse - 5.19 acres zoned M1R-2, with a partially leased light industrial building and undeveloped land for future expansion.
Where is this warehouse located?
The property is located at 4685 Expressway Missoula, MT.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 1994‑built industrial property on 5.19 acres with approximately 21,590 SF light industrial space and approximately 1,930 SF office; 2.54 acres leased under NNN terms; rent is $15,544/month with 78% tax and all insurance paid by tenant; NNN lease in place until April 2029 with ability to extend; rent increases 3% annually
