Fifth-Floor Office
For Sale
$995,000
101 E Broadway Street Unit 5, Missoula, MT 59802
Fifth floor offers 15 office suites with varied sizes and configurations within the Montana Building.
Property Size4,600 SF
Price / SF$216.30
Days on Market20
Property Features for 101 E Broadway Street Unit 5
General Information
Standard status
Active
Size
4,600 SF
Building Details
Building Size
4,600 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Stelling & Associates
(406) 728-9200
Listed By:
Stephen Stelling · License #RRE-BRO-LIC-87958
Source:
Purewestrealestate
Added: Jul 25
Changed: Jul 26
Last Checked: Aug 12 at 5:01AM
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 features a fifth-floor office layout comprised of 15 suites, with each suite varying in size and configuration. The building has undergone renovations and restoration projects over the decades to preserve its architectural integrity while adapting to changing commercial needs.
Prior tenants include law offices, financial institutions, retail stores, and professional services. Showings are by appointment only.
The current offering is specifically the fifth floor, designed to provide a range of suite options within a single managed building environment.
Prior tenants include law offices, financial institutions, retail stores, and professional services. Showings are by appointment only.
The current offering is specifically the fifth floor, designed to provide a range of suite options within a single managed building environment.
Key Highlights
- 1900 year built historic Montana Building in downtown Missoula
- Fifth floor features 15 office suites with varied sizes and configurations
- Prior tenants include law offices, financial institutions, retail stores, and professional services
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,241
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 offers 15 office suites with varied sizes and configurations within the Montana Building.
Where is this office units located?
The property is located at 101 E Broadway Street Unit 5 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: 1900 year built historic Montana Building in downtown Missoula; Fifth floor features 15 office suites with varied sizes and configurations; Prior tenants include law offices, financial institutions, retail stores, and professional services
