Medical Office Condo
New
For Sale
$285,000
1340 Airport Road, Kalispell, MT 59901
CommercialSale, Kalispell, MT
Property Size1,840 SF
Lot Size0.02 Acres
Price / SF$154.89
Days on Market2
Property Features for 1340 Airport Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
6
Subdivision
Syth Business Park Condos
Directions
Take Hwy 93 S (southside of downtown Kalispell) turn east onto Airport Rd at The Montana Club Restaurant continue south/1340 will be on the east side of the road.
Standard status
Active
APN
07396618424017013
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Syth Business Park Condo on TR 8D, S18, T28 N, R21 W, Unit 13
Tax Annual Amount
2668
Legal Description
Syth Business Park Condo on TR 8D, S18, T28 N, R21 W, Unit 13
Building Details
Year built
2000
Listing Agency:
Glacier Sotheby's International Realty Bigfork
(406) 837-6100
Listed By:
Katherine Conrad · License #RRE-BRO-LIC-108906
(406) 249-4747
Added: Sep 15
Last Checked: Sep 16 at 5:06AM
MLS# 30077905
Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial medical office offering includes two condominium units, each measuring approximately 920 square feet, with the option to combine them into approximately 1,840 square feet. The property was built in 2000 and carries Commercial zoning. One unit, identified as 1342, is currently occupied by a tenant, while the adjoining unit provides additional space within the offering.
Located at 1340 Airport Road in Kalispell, the property is visible from Hwy 93 when entering the city. On-site parking is available, and showings are scheduled by appointment.
Located at 1340 Airport Road in Kalispell, the property is visible from Hwy 93 when entering the city. On-site parking is available, and showings are scheduled by appointment.
Key Highlights
- Two condominium units of approximately 920 SF each
- Units can be combined into approximately 1,840 SF
- Unit 1342 is currently occupied by 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
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Current Use
Lease Details
2
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Similar Off Market Nearby
- Big Sky Animal Clinic — 15 18th St E, Kalispell, MT 59901
- Animal Clinic of Kalispell — 1408 Airport Rd, Kalispell, MT 59901
- Flathead Animal Clinic — 344 1st Ave W, Kalispell, MT 59901
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two adjoining suites can be combined to create a larger commercial footprint with on-site parking.
Where is this medical office space located?
The property is located at 1340 Airport Road 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 units of approximately 920 SF each; Units can be combined into approximately 1,840 SF; Unit 1342 is currently occupied by a tenant
