Flex Commercial Condo with
New
For Sale
$259,000
503 1st Avenue N #105, Great Falls, MT 59401
Walk-in freezer and fire suppression support food, storage, and service-oriented operations.
Property Size749 SF
Days on Market2
Property Features for 503 1st Avenue N #105
General Information
Standard status
Active
Size
749 SF
Property subtype
Commercial
Warehouse & Industrial
Sprinkler System
Yes
Cold Storage
Yes
Taxes and HOA fees
Annual Taxes
$1,888
Amenities
walk-in freezer
Building Details
Building Size
749 SF
Year Built
1930
Listing Agency:
Dustin Young and Company
(760) 978-9580
Listed By:
Audrey Lazzarini · License #109078
(760) 978-9580
Source:
Missionvalleyproperties
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:24AM
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 Dustin Young and Company
Investment Insights
Based on property information with market context.
This commercial condominium, constructed in 1930, offers a flexible interior suited to office, retail, storage, and specialty business uses. The layout can accommodate a small business, professional office, service company, boutique storefront, or a combination of functions. A large walk-in freezer is installed, adding cold-storage capability for food-related, catering, and specialty storage applications. The unit also includes a fire suppression system and is described as ready for immediate occupancy.
Located at 503 1st Avenue N #105 in downtown Great Falls, the property is within walking distance of downtown businesses and surrounded by restaurants and local amenities, including Fire Pizza and Crooked Tree Coffee. The central setting provides convenient access for employees and customers while allowing an owner-user to control its commercial space rather than lease it.
Located at 503 1st Avenue N #105 in downtown Great Falls, the property is within walking distance of downtown businesses and surrounded by restaurants and local amenities, including Fire Pizza and Crooked Tree Coffee. The central setting provides convenient access for employees and customers while allowing an owner-user to control its commercial space rather than lease it.
Key Highlights
- Large walk‑in freezer already installed
- Fire suppression system included
- Flexible layout for office, retail, storage, or specialty business use
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
$8,196
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
3.16%
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%
$163,920
$163.9K
Cap Rate 7%
$117,086
$117.1K
Cap Rate 9%
$91,067
$91.1K
Market Conditions
NOI Build-Up for 749 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
$12.1K $16.20/SF
− Vacancy
−$425 −$0.57/SF
EGI
$11.7K $15.63/SF
− OpEx
−$3.5K −$4.69/SF
NOI
$8.2K $10.94/SF
Area
Cascade County, MT
Vacancy
3.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$163,920
Cap Rate 7%
$117,086
Cap Rate 9%
$91,067
Alternative Uses
Best Use
Retail
$117.1K
$102.5K – $136.6K
NOI $8,196 @ 7.0% cap · market cap 3.16%
Second Best
Flex RnD
$93.9K
$82.2K – $109.5K
NOI $6,572 @ 7.0% cap · market cap 2.54%
Theoretical Best
Specialty Retail
$145.8K
$127.5K – $170.1K
NOI $10,203 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,762
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59401, MT
13,030
Population
6,921
Households
1.9
Avg Household Size
39
Median Age
27%
College-Educated
93%
High-School Grad
3.0 sq mi
ZIP Area
4,343
Density / Sq Mi
$53,750
Median Household Income
$33,209
Median Earnings
$767
Median Rent
$206,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- SMOKED. American Barbecue — 203 2nd Ave N, Great Falls, MT 59401
Frequently Asked Questions
What type of property is this?
Flex space - Walk-in freezer and fire suppression support food, storage, and service-oriented operations.
Where is this flex space located?
The property is located at 503 1st Avenue N #105 Great Falls, MT.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Large walk‑in freezer already installed; Fire suppression system included; Flexible layout for office, retail, storage, or specialty business use
