Bank Building with
For Sale
$1,790,000
4500 Expy, Missoula, MT 59808
Former financial institution building with offices, customer lobby, private parking, and direct access along Expressway.
Property Size3,596 SF
Lot Size1.90 Acres
Price / SF$497.78
Days on Market42
Property Features for 4500 Expy
General Information
Standard status
Active
Size
3,596 SF
Lot size
1.90 Acres
Additional Details
Drive-Thru
Yes
Amenities
drive-up infrastructure
private offices
open-concept lobby
automatic doors
covered entryway
mature landscaping
ample private parking
Building Details
Year Built
2007
Buildings
1
Construction
stone
Listing Agency:
Windermere R E Missoula
(406) 370-8550
Listed By:
Tarah Hillesland · License #RRE-RBS-LIC-119055
Source:
Jasonbakerteam
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 4:54AM
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 Windermere R E Missoula
Investment Insights
Based on property information with market context.
This former bank property includes a 3,000+ square foot building on a 1.9-acre site. The interior provides four private offices, an open lobby, separate men’s and women’s restrooms, ceramic tile flooring, and automatic entry doors. A drive-up component remains in place, supporting the building’s original banking configuration.
Constructed in 2007, the property features a stone exterior and a covered entrance with custom wood beams. Private parking and mature landscaping serve the site, while its position along Expressway provides access and visibility. The property is adjacent to the Canyon Creek neighborhood in Missoula, Montana.
Constructed in 2007, the property features a stone exterior and a covered entrance with custom wood beams. Private parking and mature landscaping serve the site, while its position along Expressway provides access and visibility. The property is adjacent to the Canyon Creek neighborhood in Missoula, Montana.
Key Highlights
- 3,000+ square foot former bank building on 1.9 acres
- Drive‑up infrastructure remains in place
- Four private offices and an open‑concept lobby
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
$72,576
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
4.05%
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%
$1,451,520
$1.5M
Cap Rate 7%
$1,036,800
$1.0M
Cap Rate 9%
$806,400
$806.4K
Market Conditions
NOI Build-Up for 3,596 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
$99.2K $27.60/SF
− Vacancy
−$2.5K −$0.69/SF
EGI
$96.8K $26.91/SF
− OpEx
−$24.2K −$6.73/SF
NOI
$72.6K $20.18/SF
Area
Missoula County, MT
Vacancy
2.50%
Lease Rate
$27.60 /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%
$1,451,520
Cap Rate 7%
$1,036,800
Cap Rate 9%
$806,400
Alternative Uses
Best Use
Specialty Retail
$1.04M
$907.2K – $1.21M
NOI $72,576 @ 7.0% cap · market cap 4.05%
Second Best
Retail
$634.3K
$555.0K – $740.1K
NOI $44,403 @ 7.0% cap · market cap 2.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
119
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Former financial institution building with offices, customer lobby, private parking, and direct access along Expressway.
Where is this bank located?
The property is located at 4500 Expy Missoula, MT.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 3,000+ square foot former bank building on 1.9 acres; Drive‑up infrastructure remains in place; Four private offices and an open‑concept lobby
