Updated Medical Office
For Sale
$679,000
4-20 Four Mile Drive, Kalispell, MT 59901
ADA-accessible office condominium with exam-room and private-office flexibility, central heating, and shared paved parking.
Property Size1,722 SF
Price / SF$394.31
Days on Market15
Property Features for 4-20 Four Mile Drive
General Information
Standard status
Active
Size
1,722 SF
Elevators
Yes
Zoning
R-5/PUD
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,210
Amenities
high-speed internet
central heating and air
common-area restrooms
shared paved parking lot
Building Details
Year Built
2005
Listing Agency:
Catalyst Commercial
(406) 590-6146
Listed By:
Tyler Powell · License #RRE-RBS-LIC-63122
(406) 590-6146
Source:
Exprealty
Added: Aug 5
Changed: Aug 15
Last Checked: Aug 19 at 10:33AM
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 Catalyst Commercial
Investment Insights
Based on property information with market context.
This 1,722+/- SF medical office condominium was built in 2005 and has undergone extensive interior updates, including fresh paint, new flooring, and room-darkening window treatments. The suite is arranged with exam rooms and private offices, supporting medical, dental, or other professional operations. High-speed internet, central heating, four common-area restrooms, and a shared paved parking lot are included. A shared elevator provides ADA access, and the space is vacant for quick possession.
The property is positioned at 4-20 Four Mile Drive in Kalispell, along the Four Mile Drive corridor and just off Highway 93. The location is minutes from the Logan Health medical campus and records roughly 27, 700 vehicles per day. Zoning is R-5/PUD.
The property is positioned at 4-20 Four Mile Drive in Kalispell, along the Four Mile Drive corridor and just off Highway 93. The location is minutes from the Logan Health medical campus and records roughly 27, 700 vehicles per day. Zoning is R-5/PUD.
Key Highlights
- 1,722+/- SF medical office condominium, built in 2005
- Interior updates include fresh paint, new flooring, and room‑darkening window treatments
- Exam‑room and private‑office configuration
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
$21,676
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
3.19%
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%
$433,520
$433.5K
Cap Rate 7%
$309,657
$309.7K
Cap Rate 9%
$240,844
$240.8K
Market Conditions
NOI Build-Up for 1,722 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
$38.2K $22.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$36.1K $20.98/SF
− OpEx
−$14.5K −$8.39/SF
NOI
$21.7K $12.59/SF
Area
Flathead County, MT
Vacancy
5.50%
Lease Rate
$22.20 /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%
$433,520
Cap Rate 7%
$309,657
Cap Rate 9%
$240,844
Alternative Uses
Best Use
Healthcare Medical
$309.7K
$271.0K – $361.3K
NOI $21,676 @ 7.0% cap · market cap 3.19%
Second Best
Office B
$291.7K
$255.2K – $340.3K
NOI $20,419 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$384.5K
$336.4K – $448.6K
NOI $26,913 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
438
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
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 - ADA-accessible office condominium with exam-room and private-office flexibility, central heating, and shared paved parking.
Where is this medical office space located?
The property is located at 4-20 Four Mile Drive Kalispell, MT.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 1,722+/- SF medical office condominium, built in 2005; Interior updates include fresh paint, new flooring, and room‑darkening window treatments; Exam‑room and private‑office configuration
