Mixed-Use Brick
For Sale
$1,100,000
47 E Broadway Street, Butte, MT 59701
Commercial Sale, Other - Butte, MT
Property Size10,152 SF
Price / SF$108.35
Days on Market70
Property Features for 47 E Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Subdivision
None
Directions
GPS will take you there
Standard status
Active
APN
0000241500
Size
10,152 SF
Utilities
Heating system
Baseboard
Cooling system
Varies by Unit
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
Engel & Völkers Butte
(406) 565-4935
Listed By:
Trevor Bristol
(406) 498-5682
Added: Jun 12
Changed: Jul 15
Last Checked: Aug 20 at 9:06PM
MLS# 411113
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.
Circa 1889 brick and stucco mixed-use building offers three floors plus a full basement. The upper floors are occupied by nine apartments, while the main floor is currently operated as a café with weekday lunch and catering service. Downstairs and in the dining rooms, central air is in place, and the roof features a rubber membrane.
Located in the middle of Butte’s historic business district at 47 E Broadway Street, the property sits in an Opportunity Zone and is described as qualifying for URA and BLDC grants and loans. Existing updates include electrical, sewer, and hot water heater improvements, and the building is reported to be in genuinely good shape for its age.
Tenants in the apartment portion are described as month to month, providing flexibility for how the residential space is handled going forward.
Located in the middle of Butte’s historic business district at 47 E Broadway Street, the property sits in an Opportunity Zone and is described as qualifying for URA and BLDC grants and loans. Existing updates include electrical, sewer, and hot water heater improvements, and the building is reported to be in genuinely good shape for its age.
Tenants in the apartment portion are described as month to month, providing flexibility for how the residential space is handled going forward.
Key Highlights
- Located in an Opportunity Zone and eligible for URA and BLDC grants/loans, improving financial viability.
- Prime location in Butte's historic business district.
- Nine apartments provide flexible options: Airbnb, rentals, owner occupancy.
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
$62,313
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
5.66%
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%
$1,246,260
$1.2M
Cap Rate 7%
$890,186
$890.2K
Cap Rate 9%
$692,367
$692.4K
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
$121.8K $12.00/SF
− Vacancy
−$8.5K −$0.84/SF
EGI
$113.3K $11.16/SF
− OpEx
−$51.0K −$5.02/SF
NOI
$62.3K $6.14/SF
Area
Silver Bow County, MT
Vacancy
7.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,246,260
Cap Rate 7%
$890,186
Cap Rate 9%
$692,367
Alternative Uses
Best Use
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,717 @ 7.0% cap · market cap 11.34%
Second Best
Apartment 5plus
$890.2K
$778.9K – $1.04M
NOI $62,313 @ 7.0% cap · market cap 5.66%
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
Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story brick and stucco building with café space on the main floor, apartments upstairs, and central air below.
Where is this apartment building 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: Located in an Opportunity Zone and eligible for URA and BLDC grants/loans, improving financial viability.; Prime location in Butte's historic business district.; Nine apartments provide flexible options: Airbnb, rentals, owner occupancy.
