Multi-Office Building with
For Sale
$2,225,000
Pending
825 W Custer Avenue, Helena, MT 59601
Well-maintained office building with 30+ offices, conference rooms, reception areas, and on-site paved parking.
Property Size11,665 SF
Days on Market37
Property Features for 825 W Custer Avenue
General Information
Standard status
Pending
Size
11,665 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$27,168
Building Details
Building Size
11,665 SF
Year Built
1990
Listing Agency:
Augustine Properties
(406) 431-4426
Listed By:
Didi Augustine Peccia · License #RRE-BRO-LIC-14187
(406) 431-4426
Source:
Missionvalleyproperties
Added: Jul 20
Changed: Aug 15
Last Checked: Aug 14 at 2:37PM
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 Augustine Properties
Investment Insights
Based on property information with market context.
Well-maintained office building with an efficient floor plan and abundant natural light. The layout includes a main floor and a daylight basement with 30+ offices, two conference rooms, and two reception areas. Interior amenities include ample storage, two kitchen areas, and two sets of bathrooms on each level.
The property is conveniently located on Custer Avenue with easy access from adjacent streets, and it offers on-site, paved parking.
The building is designed to support professional office use, with multiple private offices and shared common areas across both levels.
The property is conveniently located on Custer Avenue with easy access from adjacent streets, and it offers on-site, paved parking.
The building is designed to support professional office use, with multiple private offices and shared common areas across both levels.
Key Highlights
- Well‑maintained office building built in 1990 with 11,665 SF of professional office space
- Over 30 offices plus 2 conference rooms and 2 reception areas for an efficient layout
- Main floor and daylight basement arrangement with ample storage
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
$124,932
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
5.61%
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%
$2,498,640
$2.5M
Cap Rate 7%
$1,784,743
$1.8M
Cap Rate 9%
$1,388,133
$1.4M
Market Conditions
NOI Build-Up for 11,665 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
$196.0K $16.80/SF
− Vacancy
−$29.4K −$2.52/SF
EGI
$166.6K $14.28/SF
− OpEx
−$41.6K −$3.57/SF
NOI
$124.9K $10.71/SF
Area
Lewis and Clark County, MT
Vacancy
15.00%
Lease Rate
$16.80 /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%
$2,498,640
Cap Rate 7%
$1,784,743
Cap Rate 9%
$1,388,133
Alternative Uses
Best Use
Office B
$1.78M
$1.56M – $2.08M
NOI $124,932 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.22M – $2.96M
NOI $177,383 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
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 building - Well-maintained office building with 30+ offices, conference rooms, reception areas, and on-site paved parking.
Where is this office building located?
The property is located at 825 W Custer Avenue Helena, MT.
What is the asking price?
The asking price for this property is $2,225,000.
What are key features of this property?
This property features: Well‑maintained office building built in 1990 with 11,665 SF of professional office space; Over 30 offices plus 2 conference rooms and 2 reception areas for an efficient layout; Main floor and daylight basement arrangement with ample storage
