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    2374 Harve Ave Missoula, MT 59801
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    Property profile & analytics

    2374 Harve Ave Missoula, MT 59801

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    • Commercial real estate
    • 0.12 lot acres
    Off-Market
    Property ID
    US52-0280908
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2374 Harve Ave

    Lot size
    0.12 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.124-acre commercial lot in Missoula, Montana, presents a unique investment opportunity. Located at 2374 Harve Avenue, zip code 59801, this property is priced at $185,000 and offers significant potential for development. Pre-approved building plans are included, detailing a thoughtfully designed duplex. Each unit boasts a spacious open-concept layout, encompassing over 1,400 square feet of living space, three bedrooms, and two and a half bathrooms. The convenience of having water and sewer already stubbed to the property significantly reduces upfront development costs and streamlines the construction process. While approved permits are currently in place, they are set to expire around September 15th, 2024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Missoula
    County
    Missoula
    State
    Montana
    Longitude
    -114.0362419
    Latitude
    46.8427601

    Comparable in this City

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      Residential Land in Missoula, MT

      Residential land opportunity in a sought-after Missoula location.
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      Missoula Urban Residential Development Opportunity

      Prime Missoula land for high-density residential development.
      3200 Clark St, Missoula, MT 59801
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    Similar Nearby for Sale

    • $650,000

      Commercial Development Parcel in Missoula

      Prime commercial land in Russell Square Shopping Center.
      3800 S Russell St, Missoula, MT 59801
      View Details
    • $549,000
      0.24 Acres

      Missoula Multifamily Investment Opportunity

      Two homes on one lot with redevelopment potential.
      1303 Dakota St, Missoula, MT 59801
      View Details
    • $725,000

      Prime Commercial Lot on Russell

      High-traffic commercial lot near Good Food Store and Corso Apartments.
      145 Russell St, Missoula, MT 59801
      View Details
    • $515,000
      8.68 Acres

      Pattee Canyon Acreage Opportunity

      8.68 acres in Missoula, build your dream home!
      3B Snowshoe Ln, Missoula, MT 59801
      View Details
    • $340,000
      0.29 Acres

      Residential Land in Missoula, MT

      Residential land opportunity in a sought-after Missoula location.
      1926 Strand Ave, Missoula, MT 59801
      View Details
    • $599,000
      0.29 Acres

      Missoula Urban Residential Development Opportunity

      Prime Missoula land for high-density residential development.
      3200 Clark St, Missoula, MT 59801
      View Details

    Similar Nearby for Lease

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      Affordable Office Space in Missoula

      Corner office space with natural light in central Missoula.
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    2374 Harve Ave
    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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