Mixed-Use Property with Rail
4685 Expressway, Missoula, MT 59808
For Sale
New
$3,400,000
Missoula, MT
Property Size21,590 SF
Lot Size5.19 Acres
Price / SF$157.48
Days on Market2
Property Features for 4685 Expressway
General Information
Property type
Property subtype
Standard status
Size
Lot size
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Property Use
Amenities
railroad spur
Building Details
Year built
Buildings
Listing Agency:
Engel & Volkers Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Sharon Gordon · License MT RRE-RBS-LIC-13041
Added: Nov 12
Changed: Nov 13
Last Checked: Nov 13 at 11:06PM
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.
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Investment Insights
Based on property information with market context.
This 5.19-acre mixed-use property includes a 21,590-square-foot industrial building used for light industrial purposes and an approximately 1,930-square-foot office building. A 2.54-acre portion is leased, while 2.65 acres remain undeveloped. The property is zoned U-MU1 and includes a Burlington railroad spur that runs onto and through the site, as well as a road crossing the property.
The existing lease runs through April 2029, with an extension option and annual increases of 3%. It is structured as NNN; the tenant pays 78% of property taxes and all building and land insurance. The stated cap rate is 5.6%. A Phase I report is available. Engineering review of drainage and excavation testing on the undeveloped area are also noted in the property information.
The existing lease runs through April 2029, with an extension option and annual increases of 3%. It is structured as NNN; the tenant pays 78% of property taxes and all building and land insurance. The stated cap rate is 5.6%. A Phase I report is available. Engineering review of drainage and excavation testing on the undeveloped area are also noted in the property information.
Key Highlights
- 5.19 acres total, including 2.65 acres of undeveloped land
- 21,590‑square‑foot light industrial building and approximately 1,930‑square‑foot office building
- 2.54 acres leased under a term ending April 2029, with an extension option
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$251,631
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,032,620
$5.0M
Cap Rate 7%
$3,594,729
$3.6M
Cap Rate 9%
$2,795,900
$2.8M
Market Conditions
NOI Build-Up for 21,590 SF
Gross rent
$453.4K $21.00/SF
− Vacancy
−$117.9K −$5.46/SF
EGI
$335.5K $15.54/SF
− OpEx
−$83.9K −$3.89/SF
NOI
$251.6K $11.66/SF
Area
Missoula County, MT
Vacancy
26.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,032,620
Cap Rate 7%
$3,594,729
Cap Rate 9%
$2,795,900
Alternative Uses
Best Use
Office B
$3.59M
$3.15M – $4.19M
NOI $251,631 @ 7.0% cap · market cap 7.40%
Second Best
Industrial
$2.24M
$1.96M – $2.61M
NOI $156,837 @ 7.0% cap · market cap 4.61%
Theoretical Best
Specialty Retail
$6.22M
$5.45M – $7.26M
NOI $435,740 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
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Business Placement
Demographics for 59808, MT
21,546
Population
9,938
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
97%
High-School Grad
157.1 sq mi
ZIP Area
137
Density / Sq Mi
$76,795
Median Household Income
$39,324
Median Earnings
$1,236
Median Rent
$419,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Mixed-use properties in Missoula
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Leased industrial and office buildings occupy part of the site, with undeveloped acreage also included.
Where is this mixed-use property 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: 5.19 acres total, including 2.65 acres of undeveloped land; 21,590‑square‑foot light industrial building and approximately 1,930‑square‑foot office building; 2.54 acres leased under a term ending April 2029, with an extension option
