Central Business District
For Sale
Contact for pricing
637 Helena Ave, Helena, MT 59601
Storefront property in the central business district, just outside the Helena BID, with flexible retail or office remodel potential.
Property Size1,839 SF
Price / SF$190.32
Days on Market457
Property Features for 637 Helena Ave
General Information
Standard status
Active
Size
1,839 SF
Property subtype
RETAIL
Listing Agency:
Coldwell Banker Commercial | Green & Green
(406) 442-1736
Listed By:
Greg Zeller · License #109309
(406) 439-2939
Source:
Moodyscre
Added: Jun 26, 2025
Changed: Sep 12
Last Checked: Sep 24 at 3:46PM
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 storefront property at 637 Helena Ave offers a visible, accessible setup in a central business district setting, just outside of the Helena BID. At 1,839 square feet, the space is positioned for a range of uses, including retail, a retail/service business, or a studio, with the option to remodel into office space.
The property’s placement within the central business district is designed to support walk-in and customer-facing activity, and its accessible configuration can accommodate a variety of tenant improvements based on the operating concept.
For sale, this is a straightforward option for an owner-operator or business considering a dedicated space in the Helena market.
The property’s placement within the central business district is designed to support walk-in and customer-facing activity, and its accessible configuration can accommodate a variety of tenant improvements based on the operating concept.
For sale, this is a straightforward option for an owner-operator or business considering a dedicated space in the Helena market.
Key Highlights
- Storefront property in Helena’s central business district, just outside the Helena BID
- Visible and accessible location for retail store, retail/service business, or studio use
- Flexible layout with remodel potential to convert into office space
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
$23,975
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
6.85%
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%
$479,500
$479.5K
Cap Rate 7%
$342,500
$342.5K
Cap Rate 9%
$266,389
$266.4K
Market Conditions
NOI Build-Up for 1,839 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
$35.3K $19.20/SF
− Vacancy
−$1.1K −$0.58/SF
EGI
$34.2K $18.62/SF
− OpEx
−$10.3K −$5.59/SF
NOI
$24.0K $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%
$479,500
Cap Rate 7%
$342,500
Cap Rate 9%
$266,389
Alternative Uses
Best Use
Retail
$342.5K
$299.7K – $399.6K
NOI $23,975 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$399.5K
$349.6K – $466.1K
NOI $27,965 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,248
Businesses Nearby
55k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Leisure 41%
Dining 31%
Hotels & Casinos 16%
Shops & Services 7%
Cinemark Helena and XD
Leisure
22,856 visits/mo
0.2 miles
Starbucks
Dining
14,422 visits/mo
0.4 miles
Best Western Premier Helena Great Northern Hotel
Hotels & Casinos
4,365 visits/mo
0.3 miles
DoubleTree by Hilton Helena Downtown
Hotels & Casinos
3,560 visits/mo
0.4 miles
Domino's Pizza
Dining
2,732 visits/mo
0.2 miles
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront property in the central business district, just outside the Helena BID, with flexible retail or office remodel potential.
Where is this storefront property located?
The property is located at 637 Helena Ave Helena, MT.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Storefront property in Helena’s central business district, just outside the Helena BID; Visible and accessible location for retail store, retail/service business, or studio use; Flexible layout with remodel potential to convert into office space
