Flex Property with Warehouse
For Sale
Under Contract
$2,999,000
801 819 825 W Kent Avenue, Missoula, MT 59801
CommercialSale, Missoula, MT
Property Size16,000 SF
Lot Size1.34 Acres
Price / SF$187.44
Days on Market377
Property Features for 801 819 825 W Kent Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
On Street, Alley
Security features
Security
Directions
Turn west off of Bancroft onto W. Kent
Standard status
Active Under Contract
APN
04220028318040000
Lot size
1.34 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HOMEVALE ADDITION, S28, T13 N, R19 W, W 75.5' OF N 1/2 OF BLK 16 PT OF VAC ALLEY
Tax Annual Amount
56832
Legal Description
HOMEVALE ADDITION, S28, T13 N, R19 W, W 75.5' OF N 1/2 OF BLK 16 PT OF VAC ALLEY
Amenities
private offices
meeting room
lobby
breakroom
restrooms
community room
showers
courtyard
Building Details
Year built
1985
Listing Agency:
Berkshire Hathaway HomeServices - Missoula
(406) 721-4141
Listed By:
Mike Bryan · License #RRE-BRO-LIC-12300
(406) 370-8734
Added: Aug 11, 2025
Changed: Aug 22
Last Checked: Aug 22 at 5:06PM
MLS# 30055652
Copyright © 2026 Montana Regional MLS. 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 flex property combines the Red Willow Building with an attached warehouse and office component, creating a broad range of commercial configurations. The office building includes 11 private offices, a meeting room, lobby, breakroom, and restrooms. The connected approximately 13,600-square-foot structure adds three open common areas, a community room, 7 offices, multiple bathrooms, and two showers. The property contains over 16,000 square feet of space across the improvements and was built in 1985.
Set on 1.341 acres at 801, 819, 825 W Kent Avenue in Missoula, the property is positioned between Brooks Street and South Avenue. Additional site features include a landscaped courtyard, with public transportation, a city park, schools, and restaurants identified nearby.
Set on 1.341 acres at 801, 819, 825 W Kent Avenue in Missoula, the property is positioned between Brooks Street and South Avenue. Additional site features include a landscaped courtyard, with public transportation, a city park, schools, and restaurants identified nearby.
Key Highlights
- Over 16,000 square feet of combined commercial space
- Approximately 13,600‑square‑foot warehouse and office building
- Red Willow Building includes 11 private offices and a dedicated meeting room
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
$197,683
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
6.59%
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%
$3,953,660
$4.0M
Cap Rate 7%
$2,824,043
$2.8M
Cap Rate 9%
$2,196,478
$2.2M
Market Conditions
NOI Build-Up for 16,000 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
$345.6K $21.60/SF
− Vacancy
−$41.5K −$2.59/SF
EGI
$304.1K $19.01/SF
− OpEx
−$106.4K −$6.65/SF
NOI
$197.7K $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%
$3,953,660
Cap Rate 7%
$2,824,043
Cap Rate 9%
$2,196,478
Alternative Uses
Best Use
Flex RnD
$2.82M
$2.47M – $3.29M
NOI $197,683 @ 7.0% cap · market cap 6.59%
Second Best
Office B
$2.66M
$2.33M – $3.11M
NOI $186,480 @ 7.0% cap · market cap 6.22%
Theoretical Best
Specialty Retail
$4.61M
$4.04M – $5.38M
NOI $322,920 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,392
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
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.
Similar Off Market Nearby
- J bar K Cocktail Catering — 1105 Stephens Ave, Missoula, MT 59801
Frequently Asked Questions
What type of property is this?
Flex space - Connected office and warehouse improvements provide a versatile setting for multiple commercial operations.
Where is this flex space located?
The property is located at 801 819 825 W Kent Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Over 16,000 square feet of combined commercial space; Approximately 13,600‑square‑foot warehouse and office building; Red Willow Building includes 11 private offices and a dedicated meeting room
