Renovated Condo Near Logan
For Sale
Contact for pricing
1297 Burns Way, Kalispell, MT 59901
Modern commercial condo ideal for medical or office use.
Property Size2,220 SF
Price / SF$382.88
Days on Market161
Property Features for 1297 Burns Way
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Office
Zoning
H-1/PUD
Building Details
Year Renovated
2015
Listing Agency:
Coldwell Banker Mountain Properties
(406) 249-2244
Listed By:
Matthew Waatti · License #RRE-BRO-LIC-30978
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 10 at 5:45AM
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 Coldwell Banker Mountain Properties
Investment Insights
Based on property information with market context.
This newly renovated commercial condo provides a modern and professional space suitable for medical or office purposes. The unit benefits from new heating and cooling systems, including a 2024 HVAC upgrade. The interior features fresh paint, new trim, overhead lighting, countertops, doors, and customer glass doors. The layout includes five offices, four clinic rooms, a kitchenette, two bathrooms, and a server/laundry room. Some original wood detailing is present throughout the space. Furniture, fixtures, and equipment may be available for purchase, and the owner is open to selling fully furnished, excluding personal items. Located next to Logan Health Hospital, the building provides ample parking and street parking. Utilities are managed by the Burns Building owners, with Unit 2 responsible for 23% of the utility costs. The property is zoned H-1/PUD, making it suitable for healthcare or professional services. The property size is 2220 square feet.
Key Highlights
- Newly renovated commercial condo, ideal for medical or office use.
- Prime location next to Logan Health Hospital.
- Brand new 2024 HVAC system for year‑round comfort.
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
$27,944
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
3.29%
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%
$558,880
$558.9K
Cap Rate 7%
$399,200
$399.2K
Cap Rate 9%
$310,489
$310.5K
Market Conditions
NOI Build-Up for 2,220 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
$49.3K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$46.6K $20.98/SF
− OpEx
−$18.6K −$8.39/SF
NOI
$27.9K $12.59/SF
Area
Flathead County, MT
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
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%
$558,880
Cap Rate 7%
$399,200
Cap Rate 9%
$310,489
Alternative Uses
Best Use
Healthcare Medical
$399.2K
$349.3K – $465.7K
NOI $27,944 @ 7.0% cap · market cap 3.29%
Second Best
Office B
$376.1K
$329.1K – $438.7K
NOI $26,324 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$495.7K
$433.7K – $578.3K
NOI $34,696 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
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?
Medical Office Space - Modern commercial condo ideal for medical or office use.
Where is this medical office space located?
The property is located at 1297 Burns Way Kalispell, MT.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Newly renovated commercial condo, ideal for medical or office use.; Prime location next to Logan Health Hospital.; Brand new 2024 HVAC system for year‑round comfort.
