Swan Valley Center: Live/Work
For Sale
Contact for pricing
185 Glacier Creek Road, Condon, MT 59826
Commercial property with general store, apartment, cabin, and river frontage.
Property Size2,735 SF
Lot Size5.43 Acres
Price / SF$363.80
Days on Market1053
Property Features for 185 Glacier Creek Road
General Information
Standard status
Active
Size
2,735 SF
Lot size
5.43 Acres
Property subtype
Retail, Hospitality, Land, Special Purpose
Building Details
Year Built
1929
Listing Agency:
eXp Realty - Kalispell
Listed By:
Amy Peterson · License #RRE-RBS-LIC-54668
Source:
Crexi
Added: Sep 23, 2023
Changed: Aug 9
Last Checked: Aug 9 at 8:55PM
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 eXp Realty - Kalispell
Investment Insights
Based on property information with market context.
The Swan Valley Centre is located in the heart of Montana's landscape. The property features a 2,735 square foot general store, which serves as a hub of community activity. Above the general store is a 450 square foot apartment. A coin-operated laundromat and public showers provide comfort and convenience for visitors. A 1,120 square foot shop/garage with oversized doors provides space for projects or housing equipment. There is also a 1,092 square foot 2-bedroom rental cabin with a loft. The 5.43-acre property has 266 feet of Swan River frontage. It is located minutes from Holland Lake and serves as the gateway to over 1.5 million acres of Bob Marshall Wilderness. The property has highway frontage and is en route to and from Glacier National Park. The property offers multiple income streams, including the opportunity for short-term rentals. Seller financing is available.
Key Highlights
- Seller financing available for this live/work property.
- Prime location: Gateway to 1.5 million acres of Bob Marshall Wilderness, minutes from Holland Lake, and en route to Glacier National Park with highway frontage.
- Multiple income streams: General store, apartment, laundromat, public showers, and rental cabin.
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
$55,199
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
5.55%
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%
$1,103,980
$1.1M
Cap Rate 7%
$788,557
$788.6K
Cap Rate 9%
$613,322
$613.3K
Market Conditions
NOI Build-Up for 2,735 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
$75.5K $27.60/SF
− Vacancy
−$1.9K −$0.69/SF
EGI
$73.6K $26.91/SF
− OpEx
−$18.4K −$6.73/SF
NOI
$55.2K $20.18/SF
Area
Missoula County, MT
Vacancy
2.50%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,103,980
Cap Rate 7%
$788,557
Cap Rate 9%
$613,322
Alternative Uses
Best Use
Specialty Retail
$788.6K
$690.0K – $920.0K
NOI $55,199 @ 7.0% cap · market cap 5.55%
Second Best
Retail
$482.5K
$422.2K – $562.9K
NOI $33,772 @ 7.0% cap · market cap 3.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59826, MT
497
Population
535
Households
0.9
Avg Household Size
60
Median Age
41%
College-Educated
99%
High-School Grad
381.9 sq mi
ZIP Area
1
Density / Sq Mi
$61,364
Median Household Income
$27,500
Median Earnings
$933
Median Rent
$491,900
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?
Grocery and convenience store - Commercial property with general store, apartment, cabin, and river frontage.
Where is this grocery and convenience store located?
The property is located at 185 Glacier Creek Road Condon, MT.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Seller financing available for this live/work property.; Prime location: Gateway to 1.5 million acres of Bob Marshall Wilderness, minutes from Holland Lake, and en route to Glacier National Park with highway frontage.; Multiple income streams: General store, apartment, laundromat, public showers, and rental cabin.
