Fully Built-Out Medical Office
For Sale
$899,000
2829 Great Northern Loop, Missoula, MT 59808
Healthcare suite with exam, office, patient, charting, and reception areas in a professional medical setting.
Property Size13,952 SF
Price / SF$346.97
Days on Market198
Property Features for 2829 Great Northern Loop
General Information
Standard status
Active
Size
13,952 SF
Net Rentable
2,591 SF
Class
A
Elevators
Yes
Property subtype
Medical/Healthcare
Additional Details
Floor
3
Office Units
1
Amenities
monument signage
Building Details
Building Size
13,952 SF
Year Built
2009
Buildings
1
Tenancy
Multi
Properties For Sale
at 2829 Great Northern Loop Contact us- Size
- 2,591 SF
- Lease Type
- NNN
Suite 300
Listing Agency:
Sterling Commercial Real Estate Advisors
Listed By:
Matt Mellott
(406) 203-4547
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Apr 8 at 10:54AM
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 Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This medical office condominium occupies the entire third floor at 2829 Great Northern Loop, Suite 300, and provides approximately 2,591 rentable square feet. The existing layout includes 10 private rooms, including an exam room with sink, potential offices, patient meeting rooms, and two restrooms. A secured reception desk, waiting area, charting stations, nurses station, and shared nurses’ sink support organized clinical operations. Expansive windows bring natural light into the waiting area and several private offices.
The suite includes elevator access from the building lobby and a push-button main door opener for ADA access. Monument signage along Mullan Road is visible to approximately 11,776 average daily drivers. The property also provides a dedicated parking lot for patrons and tenants. Built in 2009, the professional building is positioned near N Reserve Street and Broadway Street in Missoula, close to Missoula Bone & Joint and the N Reserve Street retail corridor.
The suite includes elevator access from the building lobby and a push-button main door opener for ADA access. Monument signage along Mullan Road is visible to approximately 11,776 average daily drivers. The property also provides a dedicated parking lot for patrons and tenants. Built in 2009, the professional building is positioned near N Reserve Street and Broadway Street in Missoula, close to Missoula Bone & Joint and the N Reserve Street retail corridor.
Key Highlights
- Entire third floor with approximately 2,591 rentable SF
- 10 private rooms, including an exam room with sink
- Waiting area, secured reception desk, charting stations, and nurses station
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
$35,062
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
3.90%
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%
$701,240
$701.2K
Cap Rate 7%
$500,886
$500.9K
Cap Rate 9%
$389,578
$389.6K
Market Conditions
NOI Build-Up for 2,591 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
$65.3K $25.20/SF
− Vacancy
−$6.9K −$2.65/SF
EGI
$58.4K $22.55/SF
− OpEx
−$23.4K −$9.02/SF
NOI
$35.1K $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%
$701,240
Cap Rate 7%
$500,886
Cap Rate 9%
$389,578
Alternative Uses
Best Use
Healthcare Medical
$500.9K
$438.3K – $584.4K
NOI $35,062 @ 7.0% cap · market cap 3.90%
Second Best
Office B
$431.4K
$377.5K – $503.3K
NOI $30,198 @ 7.0% cap · market cap 3.36%
Theoretical Best
Specialty Retail
$747.0K
$653.7K – $871.6K
NOI $52,293 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,158
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Pruyn Veterinary Hospital — 2802 Great Northern Loop, Missoula, MT 59808
- Four Paws Veterinary Clinic — 2625 Connery Way, Missoula, MT 59808
Frequently Asked Questions
What type of property is this?
Medical Office Space - Healthcare suite with exam, office, patient, charting, and reception areas in a professional medical setting.
Where is this medical office space located?
The property is located at 2829 Great Northern Loop Missoula, MT.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Entire third floor with approximately 2,591 rentable SF; 10 private rooms, including an exam room with sink; Waiting area, secured reception desk, charting stations, and nurses station
