Warehouse Condominium Flex
For Sale
$599,000
6725 Butler Creek Road 3, Missoula, MT 59808
Fourteen steel-constructed flex warehouse condo units include an insulated office, restroom, and individual electric and gas meters.
Property Size2,571 SF
Price / SF$232.98
Days on Market48
Property Features for 6725 Butler Creek Road 3
General Information
Standard status
Active
Size
2,571 SF
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Listing Agency:
CENTURY 21 Peak Properties
Listed By:
Shannon Lukes · License #98667
(406) 239-0105
Source:
Toporealestate
Added: Jul 19
Changed: Aug 22
Last Checked: Sep 4 at 8:30AM
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 CENTURY 21 Peak Properties
Investment Insights
Based on property information with market context.
Winston Place Condominiums is a 14-unit mixed-use warehouse condominium property with steel construction, featuring an interior office and restroom within each unit. Offices are insulated, drywalled and painted, with a single exterior window, T-bar ceiling, baseboard and carpet tile. Bathrooms include 4 FRP wainscot and LVT flooring. Each unit has heat with air conditioning in the office and bathroom, and fire suppression is installed in both the office and warehouse. Warehouse walls are insulated and built with drywalled, fir-taped construction. Each unit also has a manual roll-up 12x14 canister door, plus separate electric and gas meters.
The property is located on Butler Creek Road in Missoula, Montana, with access to the I-90 corridor and Missoula International Airport. Unit size range is noted from 1,101 to 4,050 square feet, offering flexibility for a variety of warehouse and office configurations. Conceptual drawings and final finishes and features may vary upon completion.
The property is located on Butler Creek Road in Missoula, Montana, with access to the I-90 corridor and Missoula International Airport. Unit size range is noted from 1,101 to 4,050 square feet, offering flexibility for a variety of warehouse and office configurations. Conceptual drawings and final finishes and features may vary upon completion.
Key Highlights
- 14‑unit mixed‑use flex warehouse condo property with steel construction on Butler Creek Road in Missoula, MT
- Each unit includes an insulated, drywalled and painted office with restroom (T‑bar ceiling, baseboard, and carpet tiles)
- Warehouse walls are insulated and drywalled with fir‑tape; fire suppression installed in the office and warehouse of each unit
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
$31,765
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
5.30%
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%
$635,300
$635.3K
Cap Rate 7%
$453,786
$453.8K
Cap Rate 9%
$352,944
$352.9K
Market Conditions
NOI Build-Up for 2,571 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
$55.5K $21.60/SF
− Vacancy
−$6.7K −$2.59/SF
EGI
$48.9K $19.01/SF
− OpEx
−$17.1K −$6.65/SF
NOI
$31.8K $12.36/SF
Area
Missoula County, MT
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$635,300
Cap Rate 7%
$453,786
Cap Rate 9%
$352,944
Alternative Uses
Best Use
Flex RnD
$453.8K
$397.1K – $529.4K
NOI $31,765 @ 7.0% cap · market cap 5.30%
Second Best
Warehouse
$324.0K
$283.5K – $378.0K
NOI $22,679 @ 7.0% cap · market cap 3.79%
Theoretical Best
Specialty Retail
$741.3K
$648.6K – $864.8K
NOI $51,889 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59808, MT
21,546
Population
9,938
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
97%
High-School Grad
157.1 sq mi
ZIP Area
137
Density / Sq Mi
$76,795
Median Household Income
$39,324
Median Earnings
$1,236
Median Rent
$419,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Fourteen steel-constructed flex warehouse condo units include an insulated office, restroom, and individual electric and gas meters.
Where is this flex space located?
The property is located at 6725 Butler Creek Road 3 Missoula, MT.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 14‑unit mixed‑use flex warehouse condo property with steel construction on Butler Creek Road in Missoula, MT; Each unit includes an insulated, drywalled and painted office with restroom (T‑bar ceiling, baseboard, and carpet tiles); Warehouse walls are insulated and drywalled with fir‑tape; fire suppression installed in the office and warehouse of each unit
