Warehouse Condominium Flex
For Sale
$549,000
6725 Butler Creek Road 10, Missoula, MT 59808
Steel-constructed flex warehouse condos with insulated interiors, office build-outs, and individual utilities for each unit.
Property Size2,382 SF
Price / SF$230.48
Days on Market48
Property Features for 6725 Butler Creek Road 10
General Information
Standard status
Active
Size
2,382 SF
Warehouse & Industrial
Drive-In Doors
1
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
2026
Listing Agency:
CENTURY 21 Peak Properties
Listed By:
Shannon Lukes · License #98667
(406) 239-0105
Source:
Toporealestate
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 4 at 11:10AM
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 flex warehouse condominium property with steel construction. Each unit includes an interior office and restroom, with offices insulated, drywalled and painted, and finished with a T-bar ceiling, baseboard and carpet tile. Bathrooms include a 4 FRP wainscot and LVT flooring. Each unit is equipped with heat with air conditioning in the office and bathroom, and the warehouse areas are insulated, with warehouse walls drywalled and fir-taped. All units have a manual roll-up 12x14 canister door, individual electric and separate gas meters, and fire suppression installed in both the office and warehouse.
The property is located on Butler Creek Road in Missoula, Montana. The project is described as providing convenient access to the I-90 corridor and the Missoula International Airport.
Units are offered for purchase with a range of sizes described from 1,101 square feet to 4,050 square feet. Conceptual drawings indicate final finishes and features may vary upon completion.
The property is located on Butler Creek Road in Missoula, Montana. The project is described as providing convenient access to the I-90 corridor and the Missoula International Airport.
Units are offered for purchase with a range of sizes described from 1,101 square feet to 4,050 square feet. Conceptual drawings indicate final finishes and features may vary upon completion.
Key Highlights
- 14‑unit mixed‑use flex warehouse condominium project on Butler Creek Rd in Missoula, MT (Year built: 2026).
- Steel‑constructed buildings with insulated, drywalled, painted office build‑outs and T‑bar ceilings, baseboard, and carpet tiles.
- Office and bathroom spaces include heat with air conditioning per unit, with individual electric and separate gas meters.
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
$29,430
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
5.36%
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%
$588,600
$588.6K
Cap Rate 7%
$420,429
$420.4K
Cap Rate 9%
$327,000
$327.0K
Market Conditions
NOI Build-Up for 2,382 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
$51.5K $21.60/SF
− Vacancy
−$6.2K −$2.59/SF
EGI
$45.3K $19.01/SF
− OpEx
−$15.8K −$6.65/SF
NOI
$29.4K $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%
$588,600
Cap Rate 7%
$420,429
Cap Rate 9%
$327,000
Alternative Uses
Best Use
Flex RnD
$420.4K
$367.9K – $490.5K
NOI $29,430 @ 7.0% cap · market cap 5.36%
Second Best
Office B
$396.6K
$347.0K – $462.7K
NOI $27,762 @ 7.0% cap · market cap 5.06%
Theoretical Best
Specialty Retail
$686.8K
$600.9K – $801.3K
NOI $48,075 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
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 Office 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 - Steel-constructed flex warehouse condos with insulated interiors, office build-outs, and individual utilities for each unit.
Where is this flex space located?
The property is located at 6725 Butler Creek Road 10 Missoula, MT.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 14‑unit mixed‑use flex warehouse condominium project on Butler Creek Rd in Missoula, MT (Year built: 2026).; Steel‑constructed buildings with insulated, drywalled, painted office build‑outs and T‑bar ceilings, baseboard, and carpet tiles.; Office and bathroom spaces include heat with air conditioning per unit, with individual electric and separate gas meters.
