Two-Tenant Government-Leased Office
For Sale
Contact for pricing
2208 21st Avenue South, Great Falls, MT 59405
Tenanted, two-suite office building with government users and recently renovated space on an established site.
Property Size9,899 SF
Lot Size1.31 Acres
Price / SF$396.71
Days on Market64
Property Features for 2208 21st Avenue South
General Information
Standard status
Active
Size
9,899 SF
Total Parking Spaces
41
Lot size
1.31 Acres
Property subtype
Office
Zoning
M-1, Mixed-use, legal conforming
Occupancy
100%
Lease Type
Modified
Investment Type
Stabilized
Net Operating Income
$294,499
Additional Details
Office Units
2
Building Details
Year Built
2008
Year Renovated
2026
Units
41
Tenancy
Multi
Listing Agency:
Newmark | Chicago - 500 West Monroe St.
Listed By:
Andy Gallas · License #IL 475156024
Source:
Crexi
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 8 at 2:12PM
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 Newmark | Chicago - 500 West Monroe St.
Investment Insights
Based on property information with market context.
This offering is a 9,899-square-foot, two-tenant office building on a 1.31-acre site. The property is fully leased to U.S. government agencies, including the Federal Bureau of Investigation (FBI) and the United States Department of Veterans Affairs, with the FBI portion leased under a 15-year (13 firm) lease commencing November 6, 2021. The remaining space was fully renovated in 2026 and leased to the Department of Veterans Affairs for use as a Vet Center. As described, the Vet Center is a community-based counseling facility providing professional mental health and readjustment services to eligible veterans and their families. The building was originally constructed in 2008 as a build-to-suit for the U.S. Department of Homeland Security (Customs and Border Protection), and CBP vacated the facility in approximately 2018.
The property is located in a mixed-use corridor with strong visibility and ample parking. It also has direct proximity to Malmstrom Air Force Base, identified in the remarks as the region’s dominant economic engine.
For institutional investors or owner-operators seeking a stabilized, government-leased office asset, the current leasing profile provides occupancy by two federal tenants across distinct portions of the building. The 2026 renovation of the Vet Center space further supports operational readiness for a health and counseling-focused use, while the FBI lease provides a separate long-term income stream within the same facility.
The property is located in a mixed-use corridor with strong visibility and ample parking. It also has direct proximity to Malmstrom Air Force Base, identified in the remarks as the region’s dominant economic engine.
For institutional investors or owner-operators seeking a stabilized, government-leased office asset, the current leasing profile provides occupancy by two federal tenants across distinct portions of the building. The 2026 renovation of the Vet Center space further supports operational readiness for a health and counseling-focused use, while the FBI lease provides a separate long-term income stream within the same facility.
Key Highlights
- 9,899 SF, two‑tenant office building built in 2008 on a 1.31‑acre site
- 100% government‑leased: FBI and U.S. Department of Veterans Affairs (Vet Center)
- FBI space leased under a 15‑year (13 firm) lease commencing Nov 6, 2021
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 59405, MT
33,578
Population
15,260
Households
2.2
Avg Household Size
35
Median Age
29%
College-Educated
94%
High-School Grad
479.4 sq mi
ZIP Area
70
Density / Sq Mi
$60,509
Median Household Income
$37,431
Median Earnings
$947
Median Rent
$236,800
Median Home Value
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Tenanted, two-suite office building with government users and recently renovated space on an established site.
Where is this office building located?
The property is located at 2208 21st Avenue South Great Falls, MT.
What is the asking price?
The asking price for this property is $3,927,000.
What are key features of this property?
This property features: 9,899 SF, two‑tenant office building built in 2008 on a 1.31‑acre site; 100% government‑leased: FBI and U.S. Department of Veterans Affairs (Vet Center); FBI space leased under a 15‑year (13 firm) lease commencing Nov 6, 2021
