127 N Higgins Ave, Missoula, MT 59802

The Penny Block Building offers a rare opportunity to acquire a beautifully restored, income-producing asset in the heart of downtown Missoula, a market that continues to demonstrate strong tenant demand and upward rent momentum. Strategically positioned along North Higgins Avenue, one of Missoula’s most active pedestrian corridors, this iconic property merges early 20th-century architectural character with contemporary upgrades and enduring investment appeal.

Encompassing ±30,946 square feet across four levels, the building features high-visibility ground-floor retail and a mix of creative and professional office suites above. The interiors are defined by open, light-filled common areas that foster a welcoming environment for tenants and visitors alike — a key differentiator in today’s competitive leasing market.

A full-scale renovation in 2006 thoughtfully preserved the building’s historic integrity while modernizing essential systems and improving overall functionality. Over the past four years, the asset has demonstrated consistent rent growth, underscoring its strong in-place tenancy and appeal across a diverse user base, including wellness, professional services, and retail operators.

Zoned CBD-4, the site permits a wide array of commercial uses and offers long-term flexibility for repositioning or further enhancement. Professionally managed by Sterling CMG, a leading local firm, the property benefits from expert oversight and operational continuity.

With prime frontage steps from Caras Park, the Clark Fork River, and a thriving downtown scene, the Penny Block is uniquely positioned to capitalize on continued leasing momentum. Significant value-add opportunities remain through strategic tenanting, targeted improvements, and potential rent escalations — making this a compelling investment in one of Montana’s most dynamic urban cores.