Medical Office Building with
New
For Sale
$590,000
1317 11th Avenue, Helena, MT 59601
Well-maintained medical office with rear parking and direct exposure along 11th Avenue.
Property Size1,566 SF
Price / SF$376.76
Days on Market2
Property Features for 1317 11th Avenue
General Information
Standard status
Active
Size
1,566 SF
Additional Details
Road Access
Yes
Building Details
Building Size
1,566 SF
Year Built
1958
Buildings
1
Listing Agency:
Century 21 Heritage Realty - Helena
(406) 439-0650
Listed By:
John E Lagerquist · License #RRE-BRO-LIC-53942
Source:
Purewestrealestate
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 5:34AM
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 Century 21 Heritage Realty - Helena
Investment Insights
Based on property information with market context.
This 1,566-square-foot medical office building was constructed in 1958 and includes an attached garage. The offering consists of the building and land only; the operating business is excluded. The property has been maintained in good condition and provides a practical office layout for medical or professional use.
Positioned along 11th Avenue, the property benefits from exposure to a high-traffic corridor. Rear parking serves the building, while the garage adds enclosed utility and storage capacity.
Positioned along 11th Avenue, the property benefits from exposure to a high-traffic corridor. Rear parking serves the building, while the garage adds enclosed utility and storage capacity.
Key Highlights
- 1,566‑square‑foot medical office building
- Constructed in 1958
- Garage included with the building
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
$19,503
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
3.31%
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%
$390,060
$390.1K
Cap Rate 7%
$278,614
$278.6K
Cap Rate 9%
$216,700
$216.7K
Market Conditions
NOI Build-Up for 1,566 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
$34.8K $22.20/SF
− Vacancy
−$2.3K −$1.44/SF
EGI
$32.5K $20.76/SF
− OpEx
−$13.0K −$8.30/SF
NOI
$19.5K $12.45/SF
Area
Lewis and Clark County, MT
Vacancy
6.50%
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%
$390,060
Cap Rate 7%
$278,614
Cap Rate 9%
$216,700
Alternative Uses
Best Use
Healthcare Medical
$278.6K
$243.8K – $325.1K
NOI $19,503 @ 7.0% cap · market cap 3.31%
Second Best
Office B
$239.6K
$209.7K – $279.5K
NOI $16,772 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$340.2K
$297.7K – $396.9K
NOI $23,813 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office with rear parking and direct exposure along 11th Avenue.
Where is this medical office space located?
The property is located at 1317 11th Avenue Helena, MT.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 1,566‑square‑foot medical office building; Constructed in 1958; Garage included with the building
