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    Property profile & analytics

    2348 River Rd Missoula, MT 59801

    • Commercial real estate
    For Sale
    View listing
    $1,250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US52-0021945
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2348 River Rd

    Property type
    Commercial real estate

    Description

    This exceptional 87,120 square foot commercial land parcel presents a unique development opportunity in the heart of Missoula, Montana. Located at 2348 River Road, zip code 59801, this property is ideally situated within established neighborhoods, offering seamless integration into the existing community. The site is zoned for an 18-unit townhome subdivision, and significant pre-development work has already been completed, streamlining the construction process and minimizing upfront costs. This includes crucial approvals from the City of Missoula, comprehensive floodplain mapping, detailed geotechnical reports, meticulously prepared site plans, a preliminary plat, and finalized plans for road and utility construction. The extensive groundwork already undertaken significantly reduces the time and expense typically associated with new developments, making this an attractive investment for builders and developers seeking a fast-track project with minimal risk. The property's location in Missoula, MT offers access to a thriving local economy and a desirable residential market, ensuring strong potential for return on investment. This is a rare opportunity to acquire a fully prepared development site in a prime Missoula location. All necessary documentation is available for review.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Missoula
    County
    Missoula
    State
    Montana
    Longitude
    -114.0359212
    Latitude
    46.8763032

    Comparable in this City

    • $3,150,000
      2.50 Acres

      Missoula Land: Prime Development Site

      2.5-Acre Commercial Land, Flexible Zoning
      2010 3Rd St, Missoula, MT 59801
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    • $169,000

      Missoula Commercial Land - $169K

      Prime Missoula commercial lot, 3,833 sq ft.
      2128 14Th St, Missoula, MT 59801
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    • $1,035,000
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      Grant Street Townhome Development

      Missoula, MT: 9-unit townhome opportunity
      215-235 Grant St, Missoula, MT 59801
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    • $5,180,000
      5.88 Acres

      Missoula Mixed-Use Development

      5.88 Acres, Prime Downtown Location
      0 Wyoming St, Missoula, MT 59801
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    • $498,700
      0.09 Acres

      Missoula Mixed-Use Home & Land

      Prime Missoula location, home business potential.
      2464 Mcdonald Ave, Missoula, MT 59801
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    • $129,900
      0.12 Acres

      Residential Lot in Central Missoula

      Shovel-ready building lot with utilities in central Missoula.
      606 S Davis St, Missoula, MT 59801
      View Details

    Similar Nearby for Sale

    • $3,150,000
      2.50 Acres

      Missoula Land: Prime Development Site

      2.5-Acre Commercial Land, Flexible Zoning
      2010 3Rd St, Missoula, MT 59801
      View Details
    • $169,000

      Missoula Commercial Land - $169K

      Prime Missoula commercial lot, 3,833 sq ft.
      2128 14Th St, Missoula, MT 59801
      View Details
    • $1,035,000
      0.57 Acres

      Grant Street Townhome Development

      Missoula, MT: 9-unit townhome opportunity
      215-235 Grant St, Missoula, MT 59801
      View Details
    • $5,180,000
      5.88 Acres

      Missoula Mixed-Use Development

      5.88 Acres, Prime Downtown Location
      0 Wyoming St, Missoula, MT 59801
      View Details
    • $498,700
      0.09 Acres

      Missoula Mixed-Use Home & Land

      Prime Missoula location, home business potential.
      2464 Mcdonald Ave, Missoula, MT 59801
      View Details
    • $129,900
      0.12 Acres

      Residential Lot in Central Missoula

      Shovel-ready building lot with utilities in central Missoula.
      606 S Davis St, Missoula, MT 59801
      View Details

    Similar Nearby for Lease

    • $31 SF/Yr
      3,070 SF

      Missoula Office Space for Lease

      Prime Missoula Office, 3070 sq ft
      825 Kent Ave, Missoula, MT 59801
      View Details
    • $15 SF/Yr
      4,200 SF

      Downtown Missoula Commercial Gem

      4,200 sq ft, Single Tenant, HipStrip Location
      817 Higgins Ave, Missoula, MT 59801
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    • $14 SF/Yr
      650 SF

      Burlington Avenue Executive Suite

      Prime 650 sq ft Office Space for Lease
      1018 Burlington Ave, Missoula, MT 59801
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    • Contact for pricing
      12,851 SF

      Russell Square Retail Center

      High-traffic retail space available.
      3800 Russell St, Missoula, MT 59801
      View Details
    • $18 SF/Yr
      1,859 SF

      Retail Space in Southgate Triangle

      Retail space centrally located in the Southgate Triangle area.
      2700 Paxson St, Missoula, MT 59801
      View Details
    • $3,200 /Mo
      4,008 SF

      Versatile Commercial Space in Midtown

      3,840 sq ft commercial space in central Midtown Missoula.
      1914 North Ave W, Missoula, MT 59801
      View Details
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    2348 River Rd
    Missoula, MT 59801
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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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