Mixed-Use Property with Office
428 1st, Kalispell, MT 59901
For Sale
$625,000
Five office suites and two studio apartments are leased, with on-site parking serving tenants and visitors.
Property Size2,344 SF
Price / SF$266.64
Days on Market10
Property Features for 428 1st
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
Silvercreek Realty Group LLC - MT
Listed By:
James W Williamson · License MT #62214
(406) 270-2121
Source:
Clearwaterproperties
Added: Nov 1
Changed: Nov 10
Last Checked: Nov 10 at 9:21AM
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 Silvercreek Realty Group LLC - MT
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Investment Insights
Based on property information with market context.
The 2,344-square-foot property combines a main building constructed in 2005 with a connected structure dating to 1940. Its seven leased spaces comprise five office suites and two studio apartments. The ground-floor studio in the older building has been renovated and is occupied. That structure has a crawl-space foundation and has settled unevenly over time.
Located in Kalispell, the property includes on-site parking for tenants and visitors. The connected buildings offer a mix of office and residential space, with the older structure presenting a distinct physical consideration for future improvements.
Located in Kalispell, the property includes on-site parking for tenants and visitors. The connected buildings offer a mix of office and residential space, with the older structure presenting a distinct physical consideration for future improvements.
Key Highlights
- 2,344‑square‑foot property with a main building constructed in 2005 and a connected 1940 structure
- Seven leased spaces: five office suites and two studio apartments
- Renovated, occupied ground‑floor studio in the older building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,877
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,540
$437.5K
Cap Rate 7%
$312,529
$312.5K
Cap Rate 9%
$243,078
$243.1K
Market Conditions
NOI Build-Up for 2,344 SF
Gross rent
$41.3K $17.64/SF
− Vacancy
−$1.6K −$0.67/SF
EGI
$39.8K $16.97/SF
− OpEx
−$17.9K −$7.64/SF
NOI
$21.9K $9.33/SF
Area
Flathead County, MT
Vacancy
3.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,540
Cap Rate 7%
$312,529
Cap Rate 9%
$243,078
Alternative Uses
Best Use
Apartment 5plus
$312.5K
$273.5K – $364.6K
NOI $21,877 @ 7.0% cap · market cap 3.50%
Second Best
Mixed Use
$236.1K
$206.6K – $275.4K
NOI $16,525 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$523.3K
$457.9K – $610.6K
NOI $36,634 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,821
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Five office suites and two studio apartments are leased, with on-site parking serving tenants and visitors.
Where is this mixed-use property located?
The property is located at 428 1st Kalispell, MT.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,344‑square‑foot property with a main building constructed in 2005 and a connected 1940 structure; Seven leased spaces: five office suites and two studio apartments; Renovated, occupied ground‑floor studio in the older building
