Two-Story Office
For Sale
$2,240,000
Pending
269 W Front Street, Missoula, MT 59802
CBD-4-zoned downtown property with private offices, conference rooms, and dedicated parking.
Property Size6,150 SF
Days on Market130
Property Features for 269 W Front Street
General Information
Standard status
Pending
Size
6,150 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$31,681
Listing Agency:
EXIT Realty Missoula
(406) 721-1010
Listed By:
Tammy Cunningham · License #54097
Source:
Clearwaterproperties
Added: Apr 24
Changed: Aug 30
Last Checked: Mar 25 at 10:45AM
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 EXIT Realty Missoula
Investment Insights
Based on property information with market context.
Located at 269 W Front Street in downtown Missoula, this two-story office building was constructed in 1910 and contains 6,150 square feet. The interior includes 16 private offices, two reception areas, three restrooms, and two conference rooms, providing a defined configuration for professional office operations. Six offices connect to a shared deck with views toward Caras Park and the Clark Fork River.
The property is adjacent to Caras Park and the Clark Fork River and sits two blocks from the Missoula County Courthouse. A private parking lot provides 14 spaces for tenants and visitors. The building is zoned CBD-4 and offers a combination of enclosed offices, meeting areas, reception space, and outdoor amenity areas within a downtown setting.
The property is adjacent to Caras Park and the Clark Fork River and sits two blocks from the Missoula County Courthouse. A private parking lot provides 14 spaces for tenants and visitors. The building is zoned CBD-4 and offers a combination of enclosed offices, meeting areas, reception space, and outdoor amenity areas within a downtown setting.
Key Highlights
- 6,150‑square‑foot office building on two stories
- 16 private offices, two reception areas, three restrooms, and two conference rooms
- Six offices provide access to a shared deck overlooking Caras Park and the Clark Fork River
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
$71,678
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
3.20%
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%
$1,433,560
$1.4M
Cap Rate 7%
$1,023,971
$1.0M
Cap Rate 9%
$796,422
$796.4K
Market Conditions
NOI Build-Up for 6,150 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
$129.2K $21.00/SF
− Vacancy
−$33.6K −$5.46/SF
EGI
$95.6K $15.54/SF
− OpEx
−$23.9K −$3.89/SF
NOI
$71.7K $11.66/SF
Area
Missoula County, MT
Vacancy
26.00%
Lease Rate
$21.00 /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%
$1,433,560
Cap Rate 7%
$1,023,971
Cap Rate 9%
$796,422
Alternative Uses
Best Use
Office B
$1.02M
$896.0K – $1.19M
NOI $71,678 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.07M
NOI $124,122 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
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?
Office building - CBD-4-zoned downtown property with private offices, conference rooms, and dedicated parking.
Where is this office building located?
The property is located at 269 W Front Street Missoula, MT.
What is the asking price?
The asking price for this property is $2,240,000.
What are key features of this property?
This property features: 6,150‑square‑foot office building on two stories; 16 private offices, two reception areas, three restrooms, and two conference rooms; Six offices provide access to a shared deck overlooking Caras Park and the Clark Fork River
