Three-Story Mixed-Use
New
For Sale
$1,100,000
47 E Broadway Street, Butte, MT 59701
Upper-level apartments accompany an operating café, central air, and a full basement.
Property Size10,152 SF
Days on Market6
Property Features for 47 E Broadway Street
General Information
Standard status
Active
Size
10,152 SF
Property subtype
Commercial
Zoning
Commercial, 1
Additional Details
Opportunity Zone
Yes
Utilities to Site
Yes
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$13,492
Amenities
central air
Building Details
Building Size
10,152 SF
Year Built
1900
Buildings
1
Stories
3
Units
8
Construction
brick and stucco
Listing Agency:
Engel & Völkers - Butte
(406) 490-8169
Listed By:
Heather Choquette · License #RRE-RBS-LIC-79565
(406) 490-8169
Source:
Avatarrealtymt
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 10 at 10:47AM
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 Engel & Völkers - Butte
Investment Insights
Based on property information with market context.
This mixed-use property combines nine apartments on the upper floors with a café occupying the main level. The commercial space currently serves weekday lunch and catering, while the building also includes dining rooms and a full basement. Central air serves the downstairs area and dining rooms, providing HVAC support for the primary commercial spaces.
The property is located at 47 E Broadway Street in Butte’s historic business district and carries Commercial, 1 zoning. It is within an Opportunity Zone and may qualify for URA and BLDC grants and loans. Building updates include a rubber membrane roof, refreshed electrical and sewer systems, and an updated hot water heater. Apartment tenants are on month-to-month arrangements, providing flexibility for future ownership or operating plans.
The property is located at 47 E Broadway Street in Butte’s historic business district and carries Commercial, 1 zoning. It is within an Opportunity Zone and may qualify for URA and BLDC grants and loans. Building updates include a rubber membrane roof, refreshed electrical and sewer systems, and an updated hot water heater. Apartment tenants are on month-to-month arrangements, providing flexibility for future ownership or operating plans.
Key Highlights
- Nine apartments occupy the upper floors
- Main‑floor café currently serves weekday lunch and catering
- Three floors plus a full basement at 47 E Broadway Street
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
$82,231
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
7.48%
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%
$1,644,620
$1.6M
Cap Rate 7%
$1,174,729
$1.2M
Cap Rate 9%
$913,678
$913.7K
Market Conditions
NOI Build-Up for 10,152 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
$146.2K $14.40/SF
− Vacancy
−$14.6K −$1.44/SF
EGI
$131.6K $12.96/SF
− OpEx
−$49.3K −$4.86/SF
NOI
$82.2K $8.10/SF
Area
Silver Bow County, MT
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
37.50%
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%
$1,644,620
Cap Rate 7%
$1,174,729
Cap Rate 9%
$913,678
Alternative Uses
Best Use
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,717 @ 7.0% cap · market cap 11.34%
Second Best
Retail
$1.48M
$1.30M – $1.73M
NOI $103,825 @ 7.0% cap · market cap 9.44%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,877 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 59701, MT
33,937
Population
16,834
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
509.7 sq mi
ZIP Area
67
Density / Sq Mi
$56,799
Median Household Income
$34,793
Median Earnings
$811
Median Rent
$219,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Upper-level apartments accompany an operating café, central air, and a full basement.
Where is this mixed-use property located?
The property is located at 47 E Broadway Street Butte, MT.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Nine apartments occupy the upper floors; Main‑floor café currently serves weekday lunch and catering; Three floors plus a full basement at 47 E Broadway Street
