Brick Office Building with
For Sale
Contact for pricing
430 Ryman St, Missoula, MT 59802
Professional office property with established legal tenancy, dedicated parking, and a recently installed HVAC system.
Property Size8,376 SF
Price / SF$301.46
Days on Market14
Property Features for 430 Ryman St
General Information
Standard status
Active
Size
8,376 SF
Total Parking Spaces
17
Property subtype
OFFICE
Building Details
Buildings
1
Building Size
8,376 SF
Construction
brick
Tenancy
Multi
Listing Agency:
Sterling CRE Advisors
(406) 203-3950
Listed By:
Matt Mellott CCIM, SIOR
(406) 203-3950
Source:
Moodyscre
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 2 at 7:41AM
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 CRE Advisors
Investment Insights
Based on property information with market context.
This 8,376-square-foot brick office building provides a professional setting for owner-occupancy or continued investment use. Established legal firms occupy the property, while a major tenant’s scheduled lease rollover at the end of 2026 may create future flexibility. Approximately 2,619 RSF remains in the other suites, supporting a potential combination of occupancy and rental operations.
The building includes 17 dedicated on-site parking spaces, a notable operational feature for a downtown office property. Its location places the property one block from the Missoula County Courthouse and steps from City Hall in downtown Missoula. A new HVAC system adds a recent building improvement, while the brick construction reinforces the property’s established professional character.
The building includes 17 dedicated on-site parking spaces, a notable operational feature for a downtown office property. Its location places the property one block from the Missoula County Courthouse and steps from City Hall in downtown Missoula. A new HVAC system adds a recent building improvement, while the brick construction reinforces the property’s established professional character.
Key Highlights
- 8,376‑square‑foot brick office building
- 17 dedicated on‑site parking spaces
- Established legal firms currently occupy the property
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
$97,622
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
3.87%
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%
$1,952,440
$2.0M
Cap Rate 7%
$1,394,600
$1.4M
Cap Rate 9%
$1,084,689
$1.1M
Market Conditions
NOI Build-Up for 8,376 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
$175.9K $21.00/SF
− Vacancy
−$45.7K −$5.46/SF
EGI
$130.2K $15.54/SF
− OpEx
−$32.5K −$3.89/SF
NOI
$97.6K $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%
$1,952,440
Cap Rate 7%
$1,394,600
Cap Rate 9%
$1,084,689
Alternative Uses
Best Use
Office B
$1.39M
$1.22M – $1.63M
NOI $97,622 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.41M
$2.11M – $2.82M
NOI $169,049 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,906
Businesses Nearby
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
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?
Office building - Professional office property with established legal tenancy, dedicated parking, and a recently installed HVAC system.
Where is this office building located?
The property is located at 430 Ryman St Missoula, MT.
What is the asking price?
The asking price for this property is $2,525,000.
What are key features of this property?
This property features: 8,376‑square‑foot brick office building; 17 dedicated on‑site parking spaces; Established legal firms currently occupy the property
