Prominent Frontage Medical
For Sale
$950,000
1526 Reserve, Missoula, MT 59801
Functionally laid out for chiropractic and other healthcare services with strong visibility and signage along a major commercial corridor.
Property Size4,428 SF
Price / SF$214.54
Days on Market57
Property Features for 1526 Reserve
General Information
Standard status
Active
Size
4,428 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$17,004
Amenities
Garage: Additional Parking,Shared Driveway
Additional Parking,Shared Driveway
Building Details
Year Built
1965
Listing Agency:
Engel & Völkers Western Frontier - Missoula
(406) 550-2065
Listed By:
Warren Altounian · License #RRE-RBS-LIC-81433
Source:
Clearwaterproperties
Added: Jun 17
Changed: Aug 12
Last Checked: Aug 12 at 4:39AM
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 Engel & Völkers Western Frontier - Missoula
Investment Insights
Based on property information with market context.
This property is currently configured and operating as a chiropractic office, offering a functional layout for medical, chiropractic, physical therapy, wellness, counseling, dental, or other professional service use. The space is designed to support day-to-day patient and client visits, with an established healthcare-focused operating setup at the property.
Situated on a primary commercial corridor, the building benefits from prominent frontage on Reserve Street, with visibility and signage for passing traffic. The surrounding area includes an established cluster of complementary healthcare providers, including medical offices, chiropractors, physical therapists, and wellness businesses.
The property is well suited for an owner-user healthcare provider seeking an immediately usable office arrangement and a highly visible presence on Reserve Street. It also offers a practical fit for investors evaluating a healthcare-oriented, professional-use asset with an existing configuration aligned to common tenant requirements in the medical and wellness space.
Situated on a primary commercial corridor, the building benefits from prominent frontage on Reserve Street, with visibility and signage for passing traffic. The surrounding area includes an established cluster of complementary healthcare providers, including medical offices, chiropractors, physical therapists, and wellness businesses.
The property is well suited for an owner-user healthcare provider seeking an immediately usable office arrangement and a highly visible presence on Reserve Street. It also offers a practical fit for investors evaluating a healthcare-oriented, professional-use asset with an existing configuration aligned to common tenant requirements in the medical and wellness space.
Key Highlights
- Currently configured and operating as a chiropractic office
- Functionally laid out for medical, chiropractic, physical therapy, wellness, counseling, dental, or other professional service uses
- Prominent Reserve Street frontage with signage
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
$59,921
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
6.31%
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%
$1,198,420
$1.2M
Cap Rate 7%
$856,014
$856.0K
Cap Rate 9%
$665,789
$665.8K
Market Conditions
NOI Build-Up for 4,428 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
$111.6K $25.20/SF
− Vacancy
−$11.7K −$2.65/SF
EGI
$99.9K $22.55/SF
− OpEx
−$39.9K −$9.02/SF
NOI
$59.9K $13.53/SF
Area
Missoula County, MT
Vacancy
10.50%
Lease Rate
$25.20 /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%
$1,198,420
Cap Rate 7%
$856,014
Cap Rate 9%
$665,789
Alternative Uses
Best Use
Healthcare Medical
$856.0K
$749.0K – $998.7K
NOI $59,921 @ 7.0% cap · market cap 6.31%
Second Best
Office B
$737.3K
$645.1K – $860.1K
NOI $51,608 @ 7.0% cap · market cap 5.43%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,368 @ 7.0% cap · market cap 9.41%
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
496
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
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 - Functionally laid out for chiropractic and other healthcare services with strong visibility and signage along a major commercial corridor.
Where is this medical office space located?
The property is located at 1526 Reserve Missoula, MT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Currently configured and operating as a chiropractic office; Functionally laid out for medical, chiropractic, physical therapy, wellness, counseling, dental, or other professional service uses; Prominent Reserve Street frontage with signage
