500 Higgins AveMissoula, MT 59802

Property Details for 500 Higgins Ave

Year built

1934

Lot size

0.44 AC

Property size (Sq ft)

17,010 SF

Zone code

6

Property type

Office properties

Property subtype

Office buildings

APN

04-2200-22-2-47-01-0000

APU

4220022247010000

Description

This exceptional 1,200 square foot office suite is ideally situated on the second floor of 500 N Higgins Avenue, in the vibrant heart of downtown Missoula, Montana. Boasting a prime location at the intersection of Higgins and Spruce Avenues, this space offers unparalleled visibility and accessibility. Enjoy easy access from I-90 via Orange Street or Van Buren Street exits, placing your business within walking distance of numerous downtown businesses and restaurants. The building benefits from a high-traffic location, surrounded by well-established neighboring businesses, ensuring a stable and thriving environment. The suite itself features a spacious open workspace perfect for multiple workstations, complemented by three to four private offices and a convenient break room. Recently remodeled in 2024, the common hallways and bathrooms in this wing of the building are beautifully updated. The entire building is ADA compliant and includes an elevator for easy access. Parking is readily available, with a nearby lot offering leased parking and free short-term customer parking accessible from the alley. The lease structure prefers a 3-5 year term, with a monthly rent of $1,650 subject to a 4% annual increase. All utilities (gas, electric, water, sewer, garbage, and CAM) are included in the rent. Lessees are responsible for phone, internet, internal suite janitorial services, and other personal utilities. The property sits on a 0.44-acre lot and is zoned Commercial (CBD-4). The 2023 Montana Department of Transportation traffic count registered an average daily traffic of 4,528 vehicles, highlighting the significant foot and vehicle traffic in the area. The property is available immediately.

• CAP approach

  CAP return

  Valuation

  6%

  $3,041,990

  6.5%

  $2,807,991

  7%

  $2,607,420

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,626,702

  Geo Method

  $3,626,702

• Alternative Use

  Use

  Valuation

  Residential

  $3,481,909

  Hospitality

  $3,189,410

  Educational

  $2,653,552

  Medical

  $2,744,811

  Retail

  $4,127,747

Location Insight

City

Missoula

County

Missoula

State

Montana

Latitude

46.8742

Longitude

-113.992

CBSA code

33540

CBSA name

MISSOULA, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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