Updated Medical Office
New
For Sale
$679,000
20 Four Mile Drive #4 4, Kalispell, MT 59901
ADA-accessible suite with exam-room and private-office configuration, central heating, and shared parking.
Property Size1,722 SF
Price / SF$394.31
Days on Market2
Property Features for 20 Four Mile Drive #4 4
General Information
Standard status
Active
Size
1,722 SF
Elevators
Yes
Zoning
R-5/PUD
Additional Details
Highway Access
Yes
Amenities
high-speed internet
central heating and air
four common-area restrooms
shared paved parking lot
Building Details
Year Built
2005
Owner Occupied
No
Listing Agency:
Catalyst Commercial
(406) 750-0276
Listed By:
Tyler Powell · License #RRE-RBS-LIC-63122
(406) 590-6146
Source:
Hrrealtymt
Added: Sep 9
Last Checked: Sep 9 at 9:43AM
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 Catalyst Commercial
Investment Insights
Based on property information with market context.
This 1,722+/- SF medical office condominium was built in 2005 and has received extensive interior updates, including fresh paint, new flooring, and room-darkening window treatments. The layout combines exam rooms and private offices, supporting medical, dental, or other professional uses. ADA access is provided through a shared elevator, while central heating, high-speed internet, four common-area restrooms, and a shared paved parking lot add practical functionality. The suite is vacant and available for quick possession.
The property is positioned along Four Mile Drive near Highway 93, with reported traffic of roughly 27,700 vehicles per day. The Logan Health medical campus is minutes away. Zoning is R-5/PUD.
The property is positioned along Four Mile Drive near Highway 93, with reported traffic of roughly 27,700 vehicles per day. The Logan Health medical campus is minutes away. Zoning is R-5/PUD.
Key Highlights
- 1,722+/- SF medical office condominium
- Exam‑room and private‑office build‑out
- Built in 2005 with fresh paint and new flooring
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
$21,676
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
3.19%
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%
$433,520
$433.5K
Cap Rate 7%
$309,657
$309.7K
Cap Rate 9%
$240,844
$240.8K
Market Conditions
NOI Build-Up for 1,722 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
$38.2K $22.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$36.1K $20.98/SF
− OpEx
−$14.5K −$8.39/SF
NOI
$21.7K $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%
$433,520
Cap Rate 7%
$309,657
Cap Rate 9%
$240,844
Alternative Uses
Best Use
Healthcare Medical
$309.7K
$271.0K – $361.3K
NOI $21,676 @ 7.0% cap · market cap 3.19%
Second Best
Office B
$291.7K
$255.2K – $340.3K
NOI $20,419 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$384.5K
$336.4K – $448.6K
NOI $26,913 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3
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?
Medical Office Space - ADA-accessible suite with exam-room and private-office configuration, central heating, and shared parking.
Where is this medical office space located?
The property is located at 20 Four Mile Drive #4 4 Kalispell, MT.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 1,722+/- SF medical office condominium; Exam‑room and private‑office build‑out; Built in 2005 with fresh paint and new flooring
