111 Higgins AveMissoula, MT 59802

Property Details for 111 Higgins Ave

Year built

1940

Lot size

0.68 AC

Property size (Sq ft)

94,981 SF

Zone code

6

Property type

Office properties

Property subtype

Office buildings

APN

04-2200-22-2-19-03-0000

APU

4220022219030000

Description

This iconic five-story building, located at 111 N Higgins Ave in Missoula, MT (59802), offers 148,470 square feet of versatile commercial space. Built in 1940 and renovated in 2022, this Class B property boasts a blend of traditional office and coworking spaces, perfect for a variety of businesses. The building features a mix of retail, office, and restaurant spaces, with a minimum divisible space of 2,800 square feet and a maximum contiguous space of 8,869 square feet. Currently, 12,749 square feet is vacant. The property sits on 0.677 acres and is zoned CBD-4. Amenities include elevator service, a beautifully preserved art deco lobby, and a flexible floor plan adaptable to various business needs. The building's prime location on the main retail corridor, near restaurants, government buildings, and professional services, offers exceptional visibility and accessibility. Tenant improvement allowances are available for qualified tenants. The area is highly walkable and bikeable, with ongoing infrastructure improvements enhancing pedestrian access and roadways. The available space can be divided to accommodate multiple tenants. Inquire for details on available small office spaces and demising options. This property presents a unique opportunity to establish a presence in the vibrant heart of downtown Missoula.

• CAP approach

  CAP return

  Valuation

  6%

  $16,985,966

  6.5%

  $15,679,352

  7%

  $14,559,399

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,250,900

  Geo Method

  $20,250,900

• Alternative Use

  Use

  Valuation

  Residential

  $19,442,398

  Hospitality

  $17,809,132

  Educational

  $14,816,988

  Medical

  $15,326,567

  Retail

  $23,048,648

Location Insight

City

Missoula

County

Missoula

State

Montana

Latitude

46.8706

Longitude

-113.996

CBSA code

33540

CBSA name

MISSOULA, MT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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