Prime Downtown Kalispell Mixed-Use
For Sale
Contact for pricing
1212 S Main Street, Kalispell, MT 59901
High-visibility 1.14-acre property with mixed-use zoning and owner financing.
Property Size13,624 SF
Lot Size1.14 Acres
Price / SF$205.12
Days on Market1053
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
Zoning
3
Building Details
Year Built
1965
Listing Agency:
Revel Real Estate, Inc
Listed By:
Chase Giacomo · License #RRE-RBS-LIC-70840
Source:
Crexi
Added: Sep 23, 2023
Changed: Aug 9
Last Checked: Aug 9 at 7:50PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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
$193,263
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
6.92%
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%
$3,865,260
$3.9M
Cap Rate 7%
$2,760,900
$2.8M
Cap Rate 9%
$2,147,367
$2.1M
Market Conditions
NOI Build-Up for 13,624 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
$286.1K $21.00/SF
− Vacancy
−$10.0K −$0.74/SF
EGI
$276.1K $20.27/SF
− OpEx
−$82.8K −$6.08/SF
NOI
$193.3K $14.19/SF
Area
Flathead County, MT
Vacancy
3.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,865,260
Cap Rate 7%
$2,760,900
Cap Rate 9%
$2,147,367
Alternative Uses
Best Use
Retail
$2.76M
$2.42M – $3.22M
NOI $193,263 @ 7.0% cap · market cap 6.92%
Second Best
Mixed Use
$1.37M
$1.20M – $1.60M
NOI $96,049 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $212,927 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 50%
Shops & Services 25%
Dining 16%
Electronics 9%
Hilton Garden Inn Kalispell
Hotels & Casinos
6,503 visits/mo
0.4 miles
Cenex
Shops & Services
3,626 visits/mo
0.1 miles
Verizon
Electronics
1,791 visits/mo
0.3 miles
Motel 6 Kalispell Mt
Hotels & Casinos
1,784 visits/mo
0.1 miles
SUBWAY
Dining
1,627 visits/mo
0.2 miles
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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.
