Top-Floor Medical Office
New
For Sale
$345,000
2835 Fort Missoula Road 304, Missoula, MT 59804
Clinical office condominium with patient reception, private physician workspace, and dedicated records storage.
Property Size1,038 SF
Price / SF$332.37
Days on Market2
Property Features for 2835 Fort Missoula Road 304
General Information
Standard status
Active
Size
1,038 SF
Building Details
Year Built
1995
Listing Agency:
Lemm Real Estate, LLC
Listed By:
David A. Lemm · License #11218
(406) 439-9555
Source:
Mtranchsales
Added: Sep 4
Last Checked: Sep 4 at 3:37PM
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 Lemm Real Estate, LLC
Investment Insights
Based on property information with market context.
This top-floor medical office condominium at Physicians Center #3 is configured for outpatient practice use. The suite includes five exam rooms, a reception area, a nurse station, an ADA-compliant restroom, and a private doctor’s office with its own restroom. A dedicated basement storage area provides space for records and related materials.
The property is situated on the Community Medical Center Campus, with public parking in the adjacent lot. Missoula Community Hospital is located directly behind the building, providing a nearby healthcare setting for practices serving medical patients. The building was constructed in 1995.
The property is situated on the Community Medical Center Campus, with public parking in the adjacent lot. Missoula Community Hospital is located directly behind the building, providing a nearby healthcare setting for practices serving medical patients. The building was constructed in 1995.
Key Highlights
- Five exam rooms within the medical office suite
- Private doctor’s office with en suite restroom
- ADA‑compliant restroom and nurse 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
$14,047
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
4.07%
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%
$280,940
$280.9K
Cap Rate 7%
$200,671
$200.7K
Cap Rate 9%
$156,078
$156.1K
Market Conditions
NOI Build-Up for 1,038 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
$26.2K $25.20/SF
− Vacancy
−$2.7K −$2.65/SF
EGI
$23.4K $22.55/SF
− OpEx
−$9.4K −$9.02/SF
NOI
$14.0K $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%
$280,940
Cap Rate 7%
$200,671
Cap Rate 9%
$156,078
Alternative Uses
Best Use
Healthcare Medical
$200.7K
$175.6K – $234.1K
NOI $14,047 @ 7.0% cap · market cap 4.07%
Second Best
Office B
$172.8K
$151.2K – $201.6K
NOI $12,098 @ 7.0% cap · market cap 3.51%
Theoretical Best
Specialty Retail
$299.3K
$261.9K – $349.2K
NOI $20,949 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59804, MT
8,193
Population
3,487
Households
2.3
Avg Household Size
47
Median Age
47%
College-Educated
97%
High-School Grad
126.3 sq mi
ZIP Area
65
Density / Sq Mi
$74,877
Median Household Income
$41,975
Median Earnings
$1,138
Median Rent
$507,300
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 - Clinical office condominium with patient reception, private physician workspace, and dedicated records storage.
Where is this medical office space located?
The property is located at 2835 Fort Missoula Road 304 Missoula, MT.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Five exam rooms within the medical office suite; Private doctor’s office with en suite restroom; ADA‑compliant restroom and nurse station
