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    127 Higgins Ave Missoula, MT 59802

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    For Lease
    Contact for pricing

    Prime Downtown Missoula location, flexible suites.

    Lot size:
    31,179 SF

    Property Features for 127 Higgins Ave

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    31,179 SF
    Class
    B
    Total Rate
    41572

    Building Details

    Year Built/Renovated
    1915/2022
    Buildings
    1
    Stories
    3

    Spaces For Lease

    at 127 Higgins Ave, Missoula, MT 59802 Contact us
    Unit Suite 302

    $18 /Mo

    Size
    412 SF
    Contact us
    Unit Suite 206

    $18 /Mo

    Size
    518 SF
    Contact us
    Unit Suite 207

    $25 /Mo

    Size
    1,952 SF
    Contact us
    Unit Suite 307C

    $16 /Mo

    Size
    318 SF
    Contact us

    We can help!

    Listing Contact
    Claire Matten, Ccim Sior
    Claire Matten, Ccim Sior

    Listing Agency: Sterling CRE Advisors Listing Agent: Claire Matten, Ccim Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional three-story, 31,179 square foot Class B office building, located at 127 N Higgins Ave in Missoula, Montana, offers a unique opportunity for businesses seeking a prestigious downtown address. Built in 1915 and extensively renovated in 2022, the building boasts 30 suites ranging in size from approximately 300 to 1,952 square feet, providing flexibility for various business needs. The building features a striking circular design centered around a sky-lit atrium, offering abundant natural light to interior-facing suites. Currently, 2,882 square feet of space is available for lease. Common area improvements are underway, including HVAC upgrades, new flooring, paint, lighting, and ADA compliance enhancements. The building's central location, between Main and Front Streets, places it adjacent to the Florence Building and across from the Merc, offering excellent visibility and accessibility. While on-site parking is not available, leasing options include both full-service and NNN lease structures. The building is zoned CBD-4. The property's unique character, combined with modern amenities and a prime downtown location, makes it an ideal space for innovative and established businesses alike. Matterport virtual tours are available for the second and third floors to view available suites. Further information regarding downtown leasing parking can be found at the provided city link. The APN is 04-2200-22-2-19-04-0000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Artists' Shop Art Gallery Massage in Missoula- Rachel ... Alternative Medicine Practice An Escape-Massage Therapy Alternative Medicine Practice Rob Terwilliger LCPC Counselor Melody L. Barnes, ... Foster Care Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Missoula
    County
    Missoula
    State
    Montana
    Longitude
    -113.995359
    Latitude
    46.8708466

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    FAQs

    What type of property is this?
    Office property - Prime Downtown Missoula location, flexible suites.
    Where is this office property located?
    The property is located at 127 Higgins Ave Missoula, MT.
    What is the lease rate?
    The lease rate is $16-$25 SF/Yr.
    What are key features of this property?
    This property features: Centrally located in Downtown Missoula, Montana.; Newly renovated 31,179 SF Class B office building (2022).; Abundant natural light from a striking circular design with sky-lit atrium.
    (406) 360-3102 Call to check price and availability
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    127 Higgins Ave Missoula, MT 59802
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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.

    More about this property
    127 Higgins Ave Missoula, MT 59802
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Claire Matten, Ccim Sior
    Claire Matten, Ccim Sior
    Real Estate License ID: 90048
    (406) 360-3102 (406) 203-4547
    Learn more
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