Fifth-Floor Office
For Sale
$995,000
101 Broadway, Missoula, MT 59802
Fifth floor features 15 office suites with varying size and configuration in the Montana Building.
Property Size4,600 SF
Price / SF$216.30
Days on Market20
Property Features for 101 Broadway
General Information
Standard status
Active
Size
4,600 SF
Property subtype
Commercial
Additional Details
Office Units
15
Taxes and HOA fees
Annual Taxes
$14,235
Building Details
Year Built
1900
Listing Agency:
Stelling & Associates
(406) 728-9200
Listed By:
Stephen Stelling · License #RRE-BRO-LIC-87958
Source:
Clearwaterproperties
Added: Jul 25
Changed: Aug 12
Last Checked: Aug 11 at 8:14AM
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 Stelling & Associates
Investment Insights
Based on property information with market context.
The Montana Building presents a fifth-floor office offering comprised of 15 suites with varying sizes and configurations. The building has undergone renovations and restoration efforts over time to preserve its architectural integrity while adapting to changing needs.
The property is located at 101 E Broadway Street 5 in Missoula, Montana. Showings are available by appointment only.
This suite layout supports multiple separate office arrangements within the same floor, giving tenants flexibility in selecting space that fits their operating requirements.
The property is located at 101 E Broadway Street 5 in Missoula, Montana. Showings are available by appointment only.
This suite layout supports multiple separate office arrangements within the same floor, giving tenants flexibility in selecting space that fits their operating requirements.
Key Highlights
- Montana Building built in 1900
- Fifth floor includes 15 office suites with varying sizes and configurations
- Fifth floor is described as having low to ultra‑low vacancy and quality tenants (per provided remarks)
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
$53,613
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
5.39%
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%
$1,072,260
$1.1M
Cap Rate 7%
$765,900
$765.9K
Cap Rate 9%
$595,700
$595.7K
Market Conditions
NOI Build-Up for 4,600 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
$96.6K $21.00/SF
− Vacancy
−$25.1K −$5.46/SF
EGI
$71.5K $15.54/SF
− OpEx
−$17.9K −$3.89/SF
NOI
$53.6K $11.66/SF
Area
Missoula County, MT
Vacancy
26.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,072,260
Cap Rate 7%
$765,900
Cap Rate 9%
$595,700
Alternative Uses
Best Use
Office B
$765.9K
$670.2K – $893.6K
NOI $53,613 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,840 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Office units
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fifth floor features 15 office suites with varying size and configuration in the Montana Building.
Where is this office units located?
The property is located at 101 Broadway Missoula, MT.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Montana Building built in 1900; Fifth floor includes 15 office suites with varying sizes and configurations; Fifth floor is described as having low to ultra‑low vacancy and quality tenants (per provided remarks)
