Vacant bank buildings are some of the most intriguing properties in the real estate market. Known for their high-quality construction, unique features like drive-throughs and vaults, and ADA-compliant amenities, these structures offer incredible adaptive reuse potential. However, their distinct “bank-like” appearance often deters traditional businesses from considering them.
Why Banks Make Great Adaptive Reuse Projects
Banks are built to exceptionally high standards, with sturdy materials and well-thought-out layouts. Their replacement costs are significant, making these properties a cost-effective option for those looking to repurpose them. Many of these buildings are turnkey, with restrooms, elevators, and other essential infrastructure already in place.
Banks are often located in desirable retail locations that offer high visibility and easy access for customers. They tend to be located in thriving suburban shopping centers, busy downtowns, and along main commercial strips—spots where vacant land sells for a premium.
Despite this, their recognizable design—think teller windows, large lobbies, vaults, and drive-through lanes —can make it hard for some to envision alternative uses. But when reimagined, bank buildings have proven to be versatile and innovative spaces.
Local Example: Montana Imaging Center on Reserve Street
In Missoula, a former bank on Reserve Street was transformed into an MRI clinic. This adaptive reuse saved the clinic a significant amount of money compared to building from the ground up, even with a substantial retrofit. The existing structure provided a solid foundation, allowing the clinic to focus on customization rather than starting anew.
Popular Reuses Across Industries
Medical Offices: Bank buildings make excellent medical facilities. Their sturdy construction supports specialized equipment, and drive-through lanes can be enclosed to create additional functional spaces. For example, a dental office in Alabama turned a bank’s drive-through into 12 dental stations by modifying the teller windows.
Restaurants and Bars: Vault bars and speakeasies are increasingly popular, and old vaults provide a unique ambiance. One of Butte’s favorite restaurants, Metals Sports Bar and Grill, is housed in an old bank building.
Drive-through lanes also lend themselves well to fast-food restaurants or coffee shops. Popular coffee chain Starbucks has taken over bank buildings in cities across America. The chain makes use of the drive-thrus to serve customers.
Dispensaries: With built-in security features and drive-throughs, bank buildings have become ideal candidates for cannabis dispensaries in areas like Missoula. While we haven’t seen this locally, in Missouri, a former Bank of America branch was retrofitted into Proper Cannabis.
Other Uses: The drive-thru lends itself to drop off and pickups. Pharmacies, dry cleaners, municipal bill pay offices, and libraries are some other uses that can take advantage of the infrastructure.
Why Consider Repurposing a Bank Building?
Repurposing bank buildings is cost-effective and an opportunity to bring unique, character-rich spaces to a market. Whether for medical, retail, dining, or office use, these properties offer the chance to think outside the box and create something truly special.
In Missoula and beyond, bank buildings prove that with a little imagination, even the most specialized spaces can find new life.
Interested in seeing how you could grow your business in a bank building? Check out these listings:
Retail Opportunity on the North Reserve Street Corridor
$2,995,000
3708 North Reserve Street, Missoula, Montana, 59808
Rare North Reserve Retail Building with Drive-Thru | For Sale
$1,995,000
3045 North Reserve Street, Missoula, Montana, 59808
*Listings listed above active and on the market at the price listed as of January 30, 2025.
