Multi-Tenant Office
For Sale
Contact for pricing
431 1st Ave W, Kalispell, MT 59901
Office building offering a multi-tenant layout with reception, private offices, conference rooms, and ADA accessibility via lift-equipped stairway.
Property Size15,070 SF
Price / SF$149.30
Days on Market504
Property Features for 431 1st Ave W
General Information
Standard status
Active
Size
15,070 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
reception/waiting area
private offices
conference rooms
break areas
ADA accessibility via lift
multiple ingress/egress points
Building Details
Tenancy
Multi
Listing Agency:
Sterling CRE Advisors
(406) 546-4752
Listed By:
Joe Tredik · License #90048
(406) 546-4752
Source:
Moodyscre
Added: Mar 27, 2025
Changed: Aug 11
Last Checked: Aug 11 at 11:52AM
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 office building provides a functional multi-tenant setup with an inviting reception or waiting area, private offices, conference rooms, and multiple break areas. ADA accessibility is provided via a lift along the stairway.
The property is positioned in downtown Kalispell with convenient access to downtown retail amenities and proximity to Highway 93 North. Dedicated parking is available on-site, along with street parking.
The building also features multiple ingress and egress points, supporting flexible tenant usage. Ownership may suit an operator seeking to occupy part of the building and expand over time, or an investor looking to acquire a downtown office asset.
The property is positioned in downtown Kalispell with convenient access to downtown retail amenities and proximity to Highway 93 North. Dedicated parking is available on-site, along with street parking.
The building also features multiple ingress and egress points, supporting flexible tenant usage. Ownership may suit an operator seeking to occupy part of the building and expand over time, or an investor looking to acquire a downtown office asset.
Key Highlights
- Multi‑tenant office property at 431 1st Avenue West in Kalispell, Montana.
- Reception/waiting area plus private offices and conference rooms for flexible tenant use.
- Multiple break areas and ADA accessibility via a lift‑equipped stairway.
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
$178,693
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
7.94%
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%
$3,573,860
$3.6M
Cap Rate 7%
$2,552,757
$2.6M
Cap Rate 9%
$1,985,478
$2.0M
Market Conditions
NOI Build-Up for 15,070 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
$280.3K $18.60/SF
− Vacancy
−$42.0K −$2.79/SF
EGI
$238.3K $15.81/SF
− OpEx
−$59.6K −$3.95/SF
NOI
$178.7K $11.86/SF
Area
Flathead County, MT
Vacancy
15.00%
Lease Rate
$18.60 /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%
$3,573,860
Cap Rate 7%
$2,552,757
Cap Rate 9%
$1,985,478
Alternative Uses
Best Use
Office B
$2.55M
$2.23M – $2.98M
NOI $178,693 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.36M
$2.94M – $3.93M
NOI $235,526 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,177
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
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 - Office building offering a multi-tenant layout with reception, private offices, conference rooms, and ADA accessibility via lift-equipped stairway.
Where is this office building located?
The property is located at 431 1st Ave W Kalispell, MT.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Multi‑tenant office property at 431 1st Avenue West in Kalispell, Montana.; Reception/waiting area plus private offices and conference rooms for flexible tenant use.; Multiple break areas and ADA accessibility via a lift‑equipped stairway.
