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    Prime Hip Strip Commercial Building Title is generated by Realmo AI

    817 S Higgins Avenue, Missoula, MT 59801

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    For Sale
    $1,050,000

    SINGLE_FAMILY - Missoula, MT

    Type:Retail
    Property size:
    4,200 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $250/SF
    Added:
    Apr 20, 2026
    Days on Market:
    48
    Last Refresh:
    Jun 6 at 7:06 am

    Property Features for 817 S Higgins Avenue

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    Commercial
    Interior features
    OpenFloorplan, WiredForData
    Standard status
    Active
    APN
    04220021407070000
    Size
    4,200 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2015
    Tax Description
    KNOWLES ADDITION # 2, S21, T13 N, R19 W, BLOCK 84, Lot 5
    Tax Annual Amount
    17759

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1905
    Building materials
    Brick
    Roof type
    Rubber

    We can help!

    Listing Contact
    Adam Hertz
    Adam Hertz

    Listing agent Adam Hertz License #RRE-RBS-LIC-24957

    Listing office ERA Lambros Real Estate Missoula 3011 American Way, Missoula, MT

    Listing date Apr 20, 2026

    MLS# 30069149

    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.

    HighLights

    • 4,200 SF brick commercial building on S Higgins Ave in the Hip Strip area of Missoula
    • 14' ceilings and an open floor plan, plus wired for data for flexible tenant or owner‑user use
    • Second‑level area available (not included in total SF) for potential expansion or added utility
    • Rooftop cellular antenna lease provides supplemental income, paid annually
    • Rubber roof; heated with natural gas forced air; public water and public sewer
    • Storefront frontage on S Higgins Ave with exposure to 21,000+ vehicles per day

    Overview

    Located in the heart of Missoula's Hip Strip, this 4,200 sq ft brick commercial building presents a unique ownership opportunity. The property, owner-occupied by Bryant Photography for over 35 years, has been well maintained. An additional second-level area, not included in the total square footage, offers potential for expansion or added utility. The open floor plan, 14' ceilings, quality finishes, and abundant natural light create a flexible space suitable for an owner-user, single tenant, or multi-tenant configuration. A rooftop cellular antenna lease provides supplemental income paid annually. The property features prime storefront frontage on S Higgins Ave, with exposure to over 21,000 vehicles per day. The Hip Strip is known for its mix of locally owned shops, restaurants, galleries, and the upcoming $100M+ Higgins Waterfront project. Conveniently located within walking distance to Downtown Missoula and Caras Park, which hosts events drawing over 500,000 visitors annually, the building is less than a one-minute drive or a short bike ride to the University of Montana and Washington-Grizzly Stadium. The lot size is 0.096 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    mike williams photography Photography Service Bryant Photographics | Missoula ... Photography Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Missoula
    County
    Missoula
    State
    Montana
    Longitude
    -113.997907
    Latitude
    46.863577

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    FAQs

    What type of property is this?
    Storefront property - 4,200 sq ft commercial building in Missoula's Hip Strip.
    Where is this storefront property located?
    The property is located at 817 S Higgins Avenue Missoula, 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: 4,200 SF brick commercial building on S Higgins Ave in the Hip Strip area of Missoula; 14' ceilings and an open floor plan, plus wired for data for flexible tenant or owner‑user use; Second‑level area available (not included in total SF) for potential expansion or added utility
    (406) 239-1865
    We can help!
    Listing Contact
    Adam Hertz
    Adam Hertz
    Real Estate License ID: RRE-RBS-LIC-24957
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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