Modernized Mixed-Use
New
For Sale
$1,799,000
7 S Main Street, Kalispell, MT 59901
Two-level property combines commercial frontage with three upper-floor apartments and updated building systems.
Property Size8,600 SF
Days on Market4
Property Features for 7 S Main Street
General Information
Standard status
Active
Size
8,600 SF
Property subtype
Commercial
Zoning
1
Taxes and HOA fees
Annual Taxes
$8,041
Building Details
Building Size
8,600 SF
Year Built
1900
Buildings
1
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
National Parks Realty - Whitefish
(406) 871-0372
Listed By:
Sonja Burgard · License #RRE-BRO-LIC-70871
(406) 871-0372
Source:
Avatarrealtymt
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 1:12PM
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 National Parks Realty - Whitefish
Investment Insights
Based on property information with market context.
Built in 1900, this two-level mixed-use property pairs a commercial lower floor with three residential apartments above. Recent improvements include upgraded electrical, plumbing, heating, and air-conditioning systems, along with new windows. The commercial area is occupied by a dance company, while the apartments provide a separate residential component with potential for long-term, nightly, or weekly rentals subject to local regulations.
The property fronts S Main Street in historic downtown Kalispell, with Main Street exposure and pedestrian activity. It is surrounded by downtown restaurants, retail businesses, and arts venues. The current tenant’s lease runs through 4/30/27, adding an established occupancy term to the commercial portion.
The property fronts S Main Street in historic downtown Kalispell, with Main Street exposure and pedestrian activity. It is surrounded by downtown restaurants, retail businesses, and arts venues. The current tenant’s lease runs through 4/30/27, adding an established occupancy term to the commercial portion.
Key Highlights
- 1900‑built, two‑level mixed‑use property with commercial space and three residential apartments
- Updated electrical, plumbing, heating, air‑conditioning systems, and windows
- Commercial lower level currently occupied by a dance company
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
$121,995
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
6.78%
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%
$2,439,900
$2.4M
Cap Rate 7%
$1,742,786
$1.7M
Cap Rate 9%
$1,355,500
$1.4M
Market Conditions
NOI Build-Up for 8,600 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
$180.6K $21.00/SF
− Vacancy
−$6.3K −$0.74/SF
EGI
$174.3K $20.27/SF
− OpEx
−$52.3K −$6.08/SF
NOI
$122.0K $14.19/SF
Area
Flathead County, MT
Vacancy
3.50%
Lease Rate
$21.00 /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%
$2,439,900
Cap Rate 7%
$1,742,786
Cap Rate 9%
$1,355,500
Alternative Uses
Best Use
Retail
$1.74M
$1.52M – $2.03M
NOI $121,995 @ 7.0% cap · market cap 6.78%
Second Best
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,237 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,408 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - Two-level property combines commercial frontage with three upper-floor apartments and updated building systems.
Where is this mixed-use property located?
The property is located at 7 S Main Street Kalispell, MT.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 1900‑built, two‑level mixed‑use property with commercial space and three residential apartments; Updated electrical, plumbing, heating, air‑conditioning systems, and windows; Commercial lower level currently occupied by a dance company
