Second-Floor Office Condominium
For Sale
$925,000
3760 Mullan Road D, Missoula, MT 59808
2nd-floor office condominium with a private entrance, ample parking, and new construction expected to be completed in 2023.
Property Size2,255 SF
Price / SF$410.20
Days on Market49
Property Features for 3760 Mullan Road D
General Information
Standard status
Active
Size
2,255 SF
Additional Details
Floor
2
Building Details
Year Built
2023
Abandoned
No
Listing Agency:
Eagen Real Estate
Listed By:
Jessie M Eagen · License #8043
(406) 542-1811
Source:
Toporealestate
Added: Jul 29
Changed: Sep 11
Last Checked: Sep 14 at 4:48PM
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 Eagen Real Estate
Investment Insights
Based on property information with market context.
Second-floor office condominium space at Mullan Crossing in Building #2. The suite is 2,255 SF and includes a private entrance and plenty of parking. Construction is new, with completion expected in summer 2023, and the space will be delivered to support the level of finish you select.
The property is located north of Mullan Rd and west of Reserved St, just off Clark Fork Ln. The location and on-site parking are designed to support convenient access for occupants and visitors.
This is a flexible office layout opportunity within a newly constructed office condominium building, with a private entry and a clean starting point for custom interior buildout.
The property is located north of Mullan Rd and west of Reserved St, just off Clark Fork Ln. The location and on-site parking are designed to support convenient access for occupants and visitors.
This is a flexible office layout opportunity within a newly constructed office condominium building, with a private entry and a clean starting point for custom interior buildout.
Key Highlights
- 2,255 SF second‑floor office condominium in Building #2
- Private entrance for the office suite
- Plenty of parking on site
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
$26,282
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
2.84%
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%
$525,640
$525.6K
Cap Rate 7%
$375,457
$375.5K
Cap Rate 9%
$292,022
$292.0K
Market Conditions
NOI Build-Up for 2,255 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
$47.4K $21.00/SF
− Vacancy
−$12.3K −$5.46/SF
EGI
$35.0K $15.54/SF
− OpEx
−$8.8K −$3.89/SF
NOI
$26.3K $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%
$525,640
Cap Rate 7%
$375,457
Cap Rate 9%
$292,022
Alternative Uses
Best Use
Office B
$375.5K
$328.5K – $438.0K
NOI $26,282 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$650.2K
$568.9K – $758.5K
NOI $45,512 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
646
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 units - 2nd-floor office condominium with a private entrance, ample parking, and new construction expected to be completed in 2023.
Where is this office units located?
The property is located at 3760 Mullan Road D Missoula, MT.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 2,255 SF second‑floor office condominium in Building #2; Private entrance for the office suite; Plenty of parking on site
