What is the asking price for For Sale $6,750,000?

The lease rate for space here is Contact for pricing.

What is the total size of For Sale $6,750,000?

The property has a total square footage of 20,920 SF.

When was this property built?

For Sale $6,750,000 was built in 1923.

How many parking spaces are available at For Sale $6,750,000?

Parking information for the property isn't currently listed. However, other nearby parking options include Central Park Structure, located 0.44 miles away , and Parking Lot L, which is 0.49 miles away.

115 S 4th St W, Missoula, MT 59801

For Sale $6,750,000
Property Type Other - Special Purpose
Property Size 20,920 SF
Units 7
Lot Size 0.45 Acre
Building Class C
Year Built 1923
Date Updated Aug 13, 2026

Description

Located in Missoula’s vibrant Hip Strip district, the property occupies a prominent urban infill location just south of the Clark Fork River and Downtown Missoula. The surrounding area features an established mix of restaurants, specialty retailers, professional services, entertainment venues, and residential uses, creating an active, walkable neighborhood with strong year-round appeal. The site offers convenient access to the University of Montana, the riverfront trail system, and Missoula’s downtown employment and cultural centers. Its central location, surrounding amenities, multimodal accessibility, and position within one of the city’s most recognizable commercial districts make it particularly well suited for continued commercial use or a future high-density, mixed-use redevelopment.Waypointe represents one of the premier urban infill redevelopment opportunities in Missoula's celebrated Hip Strip district. Ownership has assembled a contiguous 41,700-square-foot development site - a rare feat in this supply constrained corridor - following the successful approval of an alley vacation in June 2025. The result is a clean, unencumbered footprint with no alley bisecting the site, significantly expanding buildable area and design flexibility. The property currently generates approximately $298,788 of stabilized annual NOI from seven commercial tenants operating under predominantly triple-net lease structures with leases staggered through 2026-2029. Most redevelopment sites generate little or no income during entitlement, design and permitting - Waypointe provides a developer nearly $300,000 annually to offset carrying costs, equation to $896,000 in aggregate NOI through the current lease term. Missoula's new Unified Development Code (Title 22, effective March 4, 2026) has transformed the regulatory environment. Parking minimums have been eliminated citywide, density maximums removed, and by-right development is now permitted - eliminating discretionary review risk. The Hip Strip is zoned to match the City's highest density downtown.

Highlights

Approximately $298,788 in stabilized annual net operating income
Approximately 21,852 square feet of existing commercial improvements
City-approved alley vacation creates a contiguous, unencumbered development site
Convenient access for pedestrians, cyclists, transit users, and vehicles
Diverse mix of retail, restaurant, office, light-industrial, warehouse, and automotive-service uses
Existing income helps offset entitlement, design, permitting, and carrying costs
High-density zoning supports significant mixed-use redevelopment potential
More than 95% occupied by seven established commercial tenants
No citywide minimum parking or maximum-density requirements under the current development code
Predominantly triple-net lease structures
Premier urban infill redevelopment opportunity in Missoula’s Hip Strip district
Rare opportunity to acquire a large, income-producing redevelopment site in a supply-constrained urban corridor
Staggered lease expirations provide flexibility for future redevelopment planning
Three-parcel assemblage totaling approximately 41,700 square feet
Walkable location near Downtown Missoula, the University of Montana, and the riverfront trail system