New Multifamily Investment
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10 Diane Road, Columbia Falls, MT 59912
Six-unit apartment building built in 2022, fully rented.
Property Size6,708 SF
Price / SF$268.34
Days on Market195
Property Features for 10 Diane Road
General Information
Standard status
Active
Size
6,708 SF
Property subtype
Mixed Use, Multifamily, Land
Occupancy
100%
Building Details
Year Built
2022
Units
6
Listing Agency:
Keller Williams Realty Northwest Montana
(406) 471-5430
Listed By:
Matt Smith · License #RRE-RBS-LIC-79057
Source:
Crexi
Added: Feb 7
Changed: Aug 11
Last Checked: Aug 20 at 7:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Northwest Montana
Investment Insights
Based on property information with market context.
This six-unit apartment building, constructed in 2022, is offered as a cash-flowing multifamily investment with a 6.76% cap rate. The property is fully rented and located in Columbia Falls, Montana. Each of the six units features a spacious 1150 square feet layout, with 3 bedrooms and 2 bathrooms, and modern finishes. The unit mix is designed to support consistent demand and durable cash flow. The property is situated minutes from Glacier National Park and Glacier International Airport, providing convenient access to Whitefish, Kalispell, major employers, and other Northwest Montana attractions. The location benefits from the ongoing demand for rental properties in Columbia Falls, driven by population growth and tourism. This multifamily property offers investors reliable income and long-term appreciation in a Montana location. The building has a total size of 6708 square feet.
Key Highlights
- New Construction (2022) - Low Maintenance
- 6.76% Cap Rate - Immediate Income**
- Fully Rented Six‑Unit Apartment Building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,608
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,252,160
$1.3M
Cap Rate 7%
$894,400
$894.4K
Cap Rate 9%
$695,644
$695.6K
Market Conditions
NOI Build-Up for 6,708 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$118.3K $17.64/SF
− Vacancy
−$4.5K −$0.67/SF
EGI
$113.8K $16.97/SF
− OpEx
−$51.2K −$7.64/SF
NOI
$62.6K $9.33/SF
Area
Flathead County, MT
Vacancy
3.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,252,160
Cap Rate 7%
$894,400
Cap Rate 9%
$695,644
Alternative Uses
Best Use
Apartment 5plus
$894.4K
$782.6K – $1.04M
NOI $62,608 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,838 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
Business Placement
Demographics for 59912, MT
15,395
Population
6,831
Households
2.3
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
188.9 sq mi
ZIP Area
81
Density / Sq Mi
$73,515
Median Household Income
$38,529
Median Earnings
$1,052
Median Rent
$438,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment building built in 2022, fully rented.
Where is this apartment building located?
The property is located at 10 Diane Road Columbia Falls, MT.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: New Construction (2022) - Low Maintenance; 6.76% Cap Rate - Immediate Income**; Fully Rented Six‑Unit Apartment Building
