20-Unit Motel with Ancillary
For Sale
$1,050,000
740 E Pike Avenue, Columbus, MT 59019
COMMERCIAL - Columbus, MT
Property Size9,950 SF
Lot Size1.07 Acres
Price / SF$105.53
Days on Market8
Property Features for 740 E Pike Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
HC - Highway Commercial
Parking
40
Subdivision
Lavelle Add
Lot features
Alley, Sprinklers In Ground
Standard status
Active
APN
30624
Size
9,950 SF
Lot size
1.07 Acres
Taxes and HOA fees
Tax Description
LAVELLE ADD (COLUMBUS), S27, T02 S, R20 E, BLOCK 003, Lot 1-4, LOTS 1-4 BLOCK 3 and BLOCK 3, Lot B, 265274 TR B COS 265274 BLK 3
Tax Annual Amount
9000
Legal Description
LAVELLE ADD (COLUMBUS), S27, T02 S, R20 E, BLOCK 003, Lot 1-4, LOTS 1-4 BLOCK 3 and BLOCK 3, Lot B, 265274 TR B COS 265274 BLK 3
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas, Baseboard, Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1922
Floors in Building
1
Building materials
Block
Roof type
Shingle, Membrane
Listing Agency:
Parks Real Estate
(406) 322-4115
Listed By:
Joyce Kelley · License #RRE-BRO-LIC-6644
(406) 780-1371
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 24 at 1:06PM
MLS# 356383
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This hospitality property combines a 20-unit drive-up motel with a Conoco fuel station, convenience store, and laundromat. The broader improvements total 9,950 square feet, with an adjoining vacant area connected to the store that could support future expansion. A separate laundromat is positioned behind the retail component.
The property is located at 740 E Pike Avenue in Columbus, Montana, along Main Street. Public water and public sewer serve the site. Building materials include block construction, with shingle and membrane roofing, wall-unit cooling, and electric, natural gas, baseboard, and hot-water heating systems. The combination of lodging, fuel, convenience retail, and laundry uses creates a diversified commercial property within a single hospitality-oriented site.
The property is located at 740 E Pike Avenue in Columbus, Montana, along Main Street. Public water and public sewer serve the site. Building materials include block construction, with shingle and membrane roofing, wall-unit cooling, and electric, natural gas, baseboard, and hot-water heating systems. The combination of lodging, fuel, convenience retail, and laundry uses creates a diversified commercial property within a single hospitality-oriented site.
Key Highlights
- 20‑unit motel with classic drive‑up room configuration
- 9,950 square feet of total property improvements
- Conoco fuel station and convenience store included
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
$74,864
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
7.13%
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%
$1,497,280
$1.5M
Cap Rate 7%
$1,069,486
$1.1M
Cap Rate 9%
$831,822
$831.8K
Market Conditions
NOI Build-Up for 9,950 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
$179.1K $18.00/SF
− Vacancy
−$21.5K −$2.16/SF
EGI
$157.6K $15.84/SF
− OpEx
−$82.7K −$8.32/SF
NOI
$74.9K $7.52/SF
Area
Stillwater County, MT
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$1,497,280
Cap Rate 7%
$1,069,486
Cap Rate 9%
$831,822
Alternative Uses
Best Use
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,475 @ 7.0% cap · market cap 11.28%
Second Best
Retail
$1.46M
$1.27M – $1.70M
NOI $101,863 @ 7.0% cap · market cap 9.70%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,972 @ 7.0% cap · market cap 14.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59019, MT
4,047
Population
1,905
Households
2.1
Avg Household Size
46
Median Age
27%
College-Educated
92%
High-School Grad
306.8 sq mi
ZIP Area
13
Density / Sq Mi
$86,905
Median Household Income
$42,813
Median Earnings
$921
Median Rent
$352,900
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?
Motel - Mixed-use hospitality property includes a convenience store, fuel station, and laundromat.
Where is this motel located?
The property is located at 740 E Pike Avenue Columbus, MT.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 20‑unit motel with classic drive‑up room configuration; 9,950 square feet of total property improvements; Conoco fuel station and convenience store included
