Two-Unit Office
For Sale
$285,000
13-1340 Airport Rd, Kalispell, MT 59901
Two condominium office units offer flexible occupancy, with the option to combine them into one larger office suite.
Property Size1,840 SF
Price / SF$154.89
Days on Market8
Property Features for 13-1340 Airport Rd
General Information
Standard status
Active
Size
1,840 SF
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$2,668
Listing Agency:
Glacier Sotheby's International Realty Bigfork
(406) 837-6100
Listed By:
Katherine Conrad · License #RRE-BRO-LIC-108906
(406) 249-4747
Source:
Exprealty
Added: Sep 15
Changed: Sep 20
Last Checked: Sep 21 at 9:27AM
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 Glacier Sotheby's International Realty Bigfork
Investment Insights
Based on property information with market context.
This office property comprises two condominium units, each approximately 920 square feet. The units may be acquired as separate spaces or combined into one larger condominium totaling approximately 1840 square feet. Unit 1342 is currently occupied by a tenant, providing an existing occupancy arrangement for a purchaser acquiring both units. On-site parking is available for the property.
The property is located at 13-1340 Airport Rd in Kalispell and is visible from Highway 93 when entering the area. Showings are available by appointment. The flexible unit configuration supports either individual office occupancy or a combined larger-format layout, subject to the buyer’s intended use and applicable requirements.
The property is located at 13-1340 Airport Rd in Kalispell and is visible from Highway 93 when entering the area. Showings are available by appointment. The flexible unit configuration supports either individual office occupancy or a combined larger-format layout, subject to the buyer’s intended use and applicable requirements.
Key Highlights
- Two condominium office units, each approximately 920 sq feet
- Units can be combined into one condominium of approximately 1840 sq feet
- Unit 1342 currently has a tenant
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
$23,161
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
8.13%
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%
$463,220
$463.2K
Cap Rate 7%
$330,871
$330.9K
Cap Rate 9%
$257,344
$257.3K
Market Conditions
NOI Build-Up for 1,840 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
$40.8K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$38.6K $20.98/SF
− OpEx
−$15.4K −$8.39/SF
NOI
$23.2K $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%
$463,220
Cap Rate 7%
$330,871
Cap Rate 9%
$257,344
Alternative Uses
Best Use
Healthcare Medical
$330.9K
$289.5K – $386.0K
NOI $23,161 @ 7.0% cap · market cap 8.13%
Second Best
Office B
$311.7K
$272.7K – $363.6K
NOI $21,818 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$410.8K
$359.5K – $479.3K
NOI $28,757 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
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?
Office units - Two condominium office units offer flexible occupancy, with the option to combine them into one larger office suite.
Where is this office units located?
The property is located at 13-1340 Airport Rd Kalispell, MT.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two condominium office units, each approximately 920 sq feet; Units can be combined into one condominium of approximately 1840 sq feet; Unit 1342 currently has a tenant
