For Sale $6,750,000

Investment Overview

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.

Investment Highlights

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