Turnkey Mixed-Use
For Sale
$3,000,000
59 E Park St, Butte, MT 59701
Revitalized historic mixed-use property with renovated apartments and four ground-level commercial spaces.
Property Size16,572 SF
Price / SF$181.03
Days on Market444
Property Features for 59 E Park St
General Information
Standard status
Active
Size
16,572 SF
Additional Details
Multifamily Units
12
Building Details
Tenancy
Multi
Listing Agency:
Engel & Volkers - Butte
(406) 498-5682
Listed By:
Trevor Bristol
(406) 498-5682
Source:
Exprealty
Added: Jun 5, 2025
Changed: Aug 20
Last Checked: Aug 22 at 11:15AM
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 & Volkers - Butte
Investment Insights
Based on property information with market context.
This turnkey mixed-use property has been fully revitalized as a historic building and includes 12 renovated residential units, consisting of four two-bedroom units and eight one-bedroom units. The property also features four ground-level commercial spaces designed for future build-out, providing flexibility for retail, office, or service-based uses.
The asset is positioned in a central, walkable Uptown Butte setting, within a district described as rich with history and culture. While specific frontage, access details, and nearby tenants are not provided, the property’s combination of apartments and street-level commercial space supports day-to-day convenience for residents and commercial operators.
For tenants, the unit mix offers a straightforward path for both one- and two-bedroom households in a renovated environment. For buyers and commercial operators, the presence of four ground-level spaces adds leasing optionality for a range of business types, with the residential component already completed as renovated living units. The overall configuration supports an owner seeking to manage both housing and retail or office operations within the same building.
The asset is positioned in a central, walkable Uptown Butte setting, within a district described as rich with history and culture. While specific frontage, access details, and nearby tenants are not provided, the property’s combination of apartments and street-level commercial space supports day-to-day convenience for residents and commercial operators.
For tenants, the unit mix offers a straightforward path for both one- and two-bedroom households in a renovated environment. For buyers and commercial operators, the presence of four ground-level spaces adds leasing optionality for a range of business types, with the residential component already completed as renovated living units. The overall configuration supports an owner seeking to manage both housing and retail or office operations within the same building.
Key Highlights
- 12 fully renovated residential units: four 2‑bedroom units and eight 1‑bedroom units
- Four ground‑level commercial spaces included in the main building and ready for build‑out
- Mixed‑use property with residential units plus commercial spaces for retail, office, or service uses
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
$169,482
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
5.65%
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%
$3,389,640
$3.4M
Cap Rate 7%
$2,421,171
$2.4M
Cap Rate 9%
$1,883,133
$1.9M
Market Conditions
NOI Build-Up for 16,572 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
$248.6K $15.00/SF
− Vacancy
−$6.5K −$0.39/SF
EGI
$242.1K $14.61/SF
− OpEx
−$72.6K −$4.38/SF
NOI
$169.5K $10.23/SF
Area
Silver Bow County, MT
Vacancy
2.60%
Lease Rate
$15.00 /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%
$3,389,640
Cap Rate 7%
$2,421,171
Cap Rate 9%
$1,883,133
Alternative Uses
Best Use
Retail
$2.42M
$2.12M – $2.82M
NOI $169,482 @ 7.0% cap · market cap 5.65%
Second Best
Mixed Use
$1.92M
$1.68M – $2.24M
NOI $134,233 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,820 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
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 - Revitalized historic mixed-use property with renovated apartments and four ground-level commercial spaces.
Where is this mixed-use property located?
The property is located at 59 E Park St Butte, MT.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 12 fully renovated residential units: four 2‑bedroom units and eight 1‑bedroom units; Four ground‑level commercial spaces included in the main building and ready for build‑out; Mixed‑use property with residential units plus commercial spaces for retail, office, or service uses
