Mixed-Use Building with Alley
939 Stephens Avenue, Missoula, MT 59801
For Sale
$1,095,000
CommercialSale, Missoula, MT
Property Size9,900 SF
Lot Size0.27 Acres
Price / SF$110.22
Days on Market51
Property Features for 939 Stephens Avenue
General Information
Property type
Property subtype
Zoning description
Parking
Parking features
Lot features
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
alley access with overhead door
private on-site parking
Building Details
Year built
Flooring type
Buildings
Listing Agency:
Berkshire Hathaway HomeServices - Missoula
(406) 721-4141
Listed By:
Paulette McMannis · License #RRE-BRO-LIC-6990
(406) 880-4988
Added: Sep 17
Changed: Nov 6
Last Checked: Nov 6 at 6:06PM
MLS# 30078559
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use commercial building offers a flexible floor plan that can accommodate retail, office, service-business, or mixed-use occupancy. The property includes carpet and concrete flooring, forced-air heating, central air, new exterior paint, and solid construction. An overhead door provides access from the alley, while private on-site parking is also available.
The property occupies 0.269 acres at 939 Stephens Avenue in Missoula, with public water and public sewer service. Built in 1962, the building is located within RM1-45 zoning, where legal non-conforming commercial use is permitted. On-street and alley parking features further support access to the property.
The property occupies 0.269 acres at 939 Stephens Avenue in Missoula, with public water and public sewer service. Built in 1962, the building is located within RM1-45 zoning, where legal non-conforming commercial use is permitted. On-street and alley parking features further support access to the property.
Key Highlights
- 9,900 SF building with a flexible floor plan for retail, office, service, or mixed‑use occupancy
- 0.269‑acre property at 939 Stephens Avenue, Missoula, MT 59801
- RM1‑45 zoning permits legal non‑conforming commercial use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,042
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,840
$1.4M
Cap Rate 7%
$1,000,600
$1.0M
Cap Rate 9%
$778,244
$778.2K
Market Conditions
NOI Build-Up for 9,935 SF
Gross rent
$119.2K $12.00/SF
− Vacancy
−$7.2K −$0.72/SF
EGI
$112.1K $11.28/SF
− OpEx
−$42.0K −$4.23/SF
NOI
$70.0K $7.05/SF
Area
Missoula County, MT
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,840
Cap Rate 7%
$1,000,600
Cap Rate 9%
$778,244
Alternative Uses
Best Use
Retail
$1.75M
$1.53M – $2.04M
NOI $122,677 @ 7.0% cap · market cap 11.20%
Second Best
Mixed Use
$1.00M
$875.5K – $1.17M
NOI $70,042 @ 7.0% cap · market cap 6.40%
Theoretical Best
Specialty Retail
$2.86M
$2.51M – $3.34M
NOI $200,513 @ 7.0% cap · market cap 18.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,262
Businesses Nearby
133k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 23%
Groceries 22%
Home Improvements & Furnishings 1%
Albertsons
Groceries
29,181 visits/mo
0.5 miles
Jo-Ann Fabric and Craft
Shops & Services
20,129 visits/mo
0.4 miles
Town Pump
Shops & Services
16,160 visits/mo
0.4 miles
Starbucks
Dining
15,453 visits/mo
0.5 miles
Conoco
Shops & Services
15,283 visits/mo
0.4 miles
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Mixed-use properties in Missoula
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial building with retail, office, service, and mixed-use occupancy options in a central Missoula setting.
Where is this mixed-use property located?
The property is located at 939 Stephens Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 9,900 SF building with a flexible floor plan for retail, office, service, or mixed‑use occupancy; 0.269‑acre property at 939 Stephens Avenue, Missoula, MT 59801; RM1‑45 zoning permits legal non‑conforming commercial use
