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    Prime Downtown Kalispell Mixed-Use Opportunity Title is generated by Realmo AI

    1212 S Main Street, Kalispell, MT 59901

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    High-visibility 1.14-acre property with mixed-use zoning and owner financing.

    Type:Mixed Use, Retail
    Property size:
    13,624 SF
    Lot size:
    1.14 Acres
    Price / SF:
    $205/SF
    Added:
    Sep 23, 2023
    Days on Market:
    987
    Last Refresh:
    May 12 at 9:27 pm

    Property Features for 1212 S Main Street

    General Information

    Standard status
    Active
    Size
    13,624 SF
    Lot size
    1.14 Acres
    Property subtype
    Mixed Use, Retail

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Chase Giacomo

    Listing agent Chase Giacomo License #RRE-RBS-LIC-70840

    Listing office Revel Real Estate, Inc

    Listing date Sep 23, 2023

    Source Crexi

    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 Revel Real Estate, Inc

    HighLights

    • Prime 1.14‑acre property in the heart of downtown Kalispell with high visibility.
    • B‑2 and R‑4 zoning allows for mixed‑use development, including commercial and residential options.
    • High traffic counts on Main Street/Hwy 93, ideal for businesses.
    • Existing 14,762 sq. ft. building with expansive parking lot and multiple access points.
    • Option to purchase an additional 0.75 acres of neighboring land.
    • Owner financing available.

    Overview

    Located in the heart of downtown Kalispell, this property presents an investment opportunity. The site spans 1.14 acres and offers the option to purchase an additional 0.75 acres of neighboring land to the South. Owner financing is available. Fronting Main Street/Hwy 93, the property benefits from B-2 zoning and high traffic counts, making it suitable for a mixed-use building, hotel, restaurant, gym, or a combination of uses. The zoning behind the frontage is R-4, which allows for duplexes, townhomes, or civic uses. Anchoring the site is a 14,762 sq. ft. building with an expansive parking lot, multiple access points, and highway-facing windows. The property is a recognizable landmark and is suited for its next chapter. The property offers a chance to shape one of Kalispell’s corridors. The business can be sold with the property.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $286.1k $21.00
    − Vacancy −$10.0k −$0.74
    EGI $276.1k $20.27
    − OpEx −$82.8k −$6.08
    NOI $193.3k $14.19
    13,624 SF · lease $21.00/SF/yr · vacancy 3.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $2.76M
    $2.42M – $3.22M (±1% cap)
    NOI $193,263 @ 7.0% cap · market cap 6.92%
    Second Best
    Mixed Use
    $1.37M
    $1.20M – $1.60M (±1% cap)
    NOI $96,049 @ 7.0% cap · market cap 3.44%
    Theoretical Best
    Office A
    $3.04M
    $2.66M – $3.55M (±1% cap)
    NOI $212,927 @ 7.0% cap · market cap 7.62%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Korner Shop Auto Repair Shop

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kalispell
    County
    Flathead
    State
    Montana
    Longitude
    -114.3098164
    Latitude
    48.1866484

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    FAQs

    What type of property is this?
    Mixed-use property - High-visibility 1.14-acre property with mixed-use zoning and owner financing.
    Where is this mixed-use property located?
    The property is located at 1212 S Main Street Kalispell, MT.
    What is the asking price?
    The asking price for this property is $2,794,500.
    What are key features of this property?
    This property features: Prime 1.14‑acre property in the heart of downtown Kalispell with high visibility.; B‑2 and R‑4 zoning allows for mixed‑use development, including commercial and residential options.; High traffic counts on Main Street/Hwy 93, ideal for businesses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chase Giacomo
    Real Estate License ID: RRE-RBS-LIC-70840
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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
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