Retail Building on Corner
For Sale
Contact for pricing
607 W Custer Ave, Helena, MT 59602
Retail building for sale with high traffic and ample parking.
Property Size6,000 SF
Lot Size0.99 Acres
Price / SF$174.83
Days on Market154
Property Features for 607 W Custer Ave
General Information
Standard status
Active
Size
6,000 SF
Class
B
Lot size
0.99 Acres
Property subtype
Retail, Office
Zoning
PUD - Call Listing Agent
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Year Built
1972
Year Renovated
2015
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Green & Green
(406) 442-1736
Listed By:
Tyler Warne, CCIM · License #RRE-BRO-LIC-98724
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 10 at 4:18AM
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 Coldwell Banker Commercial Green & Green
Investment Insights
Based on property information with market context.
This 6,000-square-foot retail building is situated on a corner lot on West Custer Avenue, which experiences a daily traffic volume of 15,000 vehicles. The property, nearly an acre in size, features a significant amount of parking and front landscaping. The building is divided into two halves, each currently rented with near-term leases. The current tenants include a fitness center and a daycare. Both units have a mostly open layout, with bathrooms, closets, and a private office. The lighted corner location facilitates easy travel in all directions. Improvements made during the seller's ownership include a new roof, new HVAC system, and added landscaping. The property is suitable for running a business or as a stable investment.
Key Highlights
- High‑traffic corner location on West Custer Avenue (15,000 vehicles per day).
- Large lot size (nearly an acre) with ample parking and landscaping.
- 6,000 square foot building suitable for owner‑occupancy or investment.
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
$78,221
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
7.46%
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%
$1,564,420
$1.6M
Cap Rate 7%
$1,117,443
$1.1M
Cap Rate 9%
$869,122
$869.1K
Market Conditions
NOI Build-Up for 6,000 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
$115.2K $19.20/SF
− Vacancy
−$3.5K −$0.58/SF
EGI
$111.7K $18.62/SF
− OpEx
−$33.5K −$5.59/SF
NOI
$78.2K $13.04/SF
Area
Lewis and Clark County, MT
Vacancy
3.00%
Lease Rate
$19.20 /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%
$1,564,420
Cap Rate 7%
$1,117,443
Cap Rate 9%
$869,122
Alternative Uses
Best Use
Retail
$1.12M
$977.8K – $1.30M
NOI $78,221 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,238 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
2,864 visits/mo
0.4 miles
Meineke Car Care Center
Shops & Services
1,425 visits/mo
0.4 miles
Demographics for 59602, MT
29,390
Population
12,091
Households
2.4
Avg Household Size
42
Median Age
39%
College-Educated
94%
High-School Grad
524.3 sq mi
ZIP Area
56
Density / Sq Mi
$87,841
Median Household Income
$49,580
Median Earnings
$1,291
Median Rent
$369,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building for sale with high traffic and ample parking.
Where is this retail space located?
The property is located at 607 W Custer Ave Helena, MT.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: High‑traffic corner location on West Custer Avenue (15,000 vehicles per day).; Large lot size (nearly an acre) with ample parking and landscaping.; 6,000 square foot building suitable for owner‑occupancy or investment.
