Modern Office
For Sale
Contact for pricing
2620 Connery Way, Missoula, MT 59808
Modern office building with paved on-site parking and elevator service for tenant and visitor convenience.
Property Size19,035 SF
Price / SF$208.83
Days on Market1097
Property Features for 2620 Connery Way
General Information
Standard status
Active
Size
19,035 SF
Property subtype
OFFICE
Amenities
paved on-site parking
elevator service
Listing Agency:
Sterling CRE Advisors
(406) 203-4547
Listed By:
Connor McMahon · License #RRE-RBS-LIC-88267
(406) 370-6424
Source:
Moodyscre
Added: Sep 25, 2023
Changed: Sep 16
Last Checked: Sep 24 at 2:25PM
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 Sterling CRE Advisors
Investment Insights
Based on property information with market context.
This modern office building offers a practical setup for professional uses, with elevator service and paved on-site parking. The improvements are well-suited for day-to-day operations where access and vertical circulation matter.
Located at 2620 Connery Way in Missoula, MT 59808, the property is presented for sale and provides on-site parking designed to support tenants, employees, and visitors. Elevator service helps accommodate multiple levels within the building.
Overall, this is a streamlined office asset with core amenity coverage for an office tenant profile, combining elevator access with paved parking at the property.
Located at 2620 Connery Way in Missoula, MT 59808, the property is presented for sale and provides on-site parking designed to support tenants, employees, and visitors. Elevator service helps accommodate multiple levels within the building.
Overall, this is a streamlined office asset with core amenity coverage for an office tenant profile, combining elevator access with paved parking at the property.
Key Highlights
- Modern office building
- Paved on‑site parking
- Elevator service for tenant and visitor convenience
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
$221,853
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
5.58%
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%
$4,437,060
$4.4M
Cap Rate 7%
$3,169,329
$3.2M
Cap Rate 9%
$2,465,033
$2.5M
Market Conditions
NOI Build-Up for 19,035 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
$399.7K $21.00/SF
− Vacancy
−$103.9K −$5.46/SF
EGI
$295.8K $15.54/SF
− OpEx
−$74.0K −$3.89/SF
NOI
$221.9K $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%
$4,437,060
Cap Rate 7%
$3,169,329
Cap Rate 9%
$2,465,033
Alternative Uses
Best Use
Office B
$3.17M
$2.77M – $3.70M
NOI $221,853 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.49M
$4.80M – $6.40M
NOI $384,174 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
Business Placement
Demographics for 59808, MT
21,546
Population
9,938
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
97%
High-School Grad
157.1 sq mi
ZIP Area
137
Density / Sq Mi
$76,795
Median Household Income
$39,324
Median Earnings
$1,236
Median Rent
$419,800
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Modern office building with paved on-site parking and elevator service for tenant and visitor convenience.
Where is this office building located?
The property is located at 2620 Connery Way Missoula, MT.
What is the asking price?
The asking price for this property is $3,975,000.
What are key features of this property?
This property features: Modern office building; Paved on‑site parking; Elevator service for tenant and visitor convenience
