Flex Warehouse with Overhead
For Sale
$725,000
525-515 Michigan Avenue, Missoula, MT 59802
Move-in-ready flex warehouse space with overhead garage doors, utilities, and on-site storage for multiple commercial uses.
Property Size3,781 SF
Price / SF$191.75
Days on Market50
Property Features for 525-515 Michigan Avenue
General Information
Standard status
Active
Size
3,781 SF
Property subtype
Commercial
Zoning
Neighborhood Center
Warehouse & Industrial
Clear Height
15 ft
Drive-In Doors
3
Heavy Power
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1961
Tenancy
Multi
Listing Agency:
Ink Realty Group
Listed By:
Julie McLennan
Source:
Clearwaterproperties
Added: Jun 12
Changed: Jul 10
Last Checked: Jul 31 at 8:12AM
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 Ink Realty Group
Investment Insights
Based on property information with market context.
This mixed-use flex and warehouse property at 525-515 Michigan Avenue consists of two separately metered tenant spaces. The 525 portion includes a larger work area with 15-foot ceilings, a gas shop heater, 10-foot overhead garage door, and 3-phase power with 220V service. It also features a private office with exterior access and a bathroom with vanity, toilet, and shower. Additional storage is provided by a second-floor mezzanine measuring 43 feet by 19 feet. This unit has been occupied by a painting business since 2018.
The 515 portion offers heating and cooling, plumbing, and two 10-foot overhead garage doors, along with 220V power. An interior wall divides the area into two functional work sections, and there is a half bath with a utility sink, water heater, and toilet. Both spaces present a clean, updated interior with fresh paint and durable aluminum wall finishes. The property is complemented by paved parking, dedicated space for larger vehicles and trailers, and a divided railroad storage container with access from both ends.
Zoned Neighborhood Center, the building is positioned for a range of neighborhood commercial and light industrial-oriented operations, as reflected in the listing’s stated example uses such as studios and retail service concepts. Updates include Therma-Star by Pella windows and recent roof maintenance completed by Western Montana Roofing. The site is located in the heart of East Missoula, about one block from Highway 200 East, with convenient access to the I-90 corridor and Marshall Mountain Recreation Park.
The 515 portion offers heating and cooling, plumbing, and two 10-foot overhead garage doors, along with 220V power. An interior wall divides the area into two functional work sections, and there is a half bath with a utility sink, water heater, and toilet. Both spaces present a clean, updated interior with fresh paint and durable aluminum wall finishes. The property is complemented by paved parking, dedicated space for larger vehicles and trailers, and a divided railroad storage container with access from both ends.
Zoned Neighborhood Center, the building is positioned for a range of neighborhood commercial and light industrial-oriented operations, as reflected in the listing’s stated example uses such as studios and retail service concepts. Updates include Therma-Star by Pella windows and recent roof maintenance completed by Western Montana Roofing. The site is located in the heart of East Missoula, about one block from Highway 200 East, with convenient access to the I-90 corridor and Marshall Mountain Recreation Park.
Key Highlights
- 3,781 SF mixed‑use commercial building at 525‑515 Michigan Ave in East Missoula, currently set up for two separately metered tenant spaces
- 525 Michigan Ave: 2,845 SF with 15‑ft ceilings, gas shop heater, 10‑ft overhead garage door, 3‑phase power, 220V, private office (exterior access), and bathroom with shower
- 525 includes a 43' x 19' second‑floor mezzanine for additional storage; occupied by a painting business since 2018
Financial Insights For Flex RnD
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 | $81.7k | $21.60 |
| − Vacancy | −$9.8k | −$2.59 |
| EGI | $71.9k | $19.01 |
| − OpEx | −$25.2k | −$6.65 |
| NOI | $46.7k | $12.36 |
3,781 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$667.4K
$583.9K – $778.6K
NOI $46,715 @ 7.0% cap · market cap 6.44%
Second Best
Retail
$667.0K
$583.6K – $778.1K
NOI $46,688 @ 7.0% cap · market cap 6.44%
Theoretical Best
Specialty Retail
$1.09M
$953.9K – $1.27M
NOI $76,310 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
3
Drive-in doors
Multi-tenant
Tenancy
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Move-in-ready flex warehouse space with overhead garage doors, utilities, and on-site storage for multiple commercial uses.
Where is this flex space located?
The property is located at 525-515 Michigan Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,781 SF mixed‑use commercial building at 525‑515 Michigan Ave in East Missoula, currently set up for two separately metered tenant spaces; 525 Michigan Ave: 2,845 SF with 15‑ft ceilings, gas shop heater, 10‑ft overhead garage door, 3‑phase power, 220V, private office (exterior access), and bathroom with shower; 525 includes a 43' x 19' second‑floor mezzanine for additional storage; occupied by a painting business since 2018
