Industrial Flex Condo with
New
For Sale
$439,000
5730 Expressway F, Missoula, MT 59808
Missoula, MT
Property Size2,120 SF
Price / SF$207.08
Days on Market3
Property Features for 5730 Expressway F
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Building Details
Year built
2021
Listing Agency:
Engel & Volkers Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Chris Bristol · License #RRE-RBS-LIC-119046
(406) 880-7695
Added: Sep 25
Changed: Sep 26
Last Checked: Sep 27 at 11:06AM
MLS# 30078920
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2021, this flex-space condominium combines finished office and showroom areas with an open warehouse and mezzanine storage. The warehouse has approximately 18-foot clear height and a 14-foot grade-level overhead door. The unit includes two designated parking spaces, with additional common parking available within the development.
The property is on Expressway in Missoula’s North Reserve commercial corridor, approximately half a mile from the I-90 interchange, with access to Reserve Street and Missoula Montana Airport. It is leased on a NNN basis to an established tenant.
The property is on Expressway in Missoula’s North Reserve commercial corridor, approximately half a mile from the I-90 interchange, with access to Reserve Street and Missoula Montana Airport. It is leased on a NNN basis to an established tenant.
Key Highlights
- 2,120‑square‑foot flex condominium built in 2021
- Approximately 18‑foot warehouse clear height
- 14‑foot grade‑level overhead door
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
$26,193
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
5.97%
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%
$523,860
$523.9K
Cap Rate 7%
$374,186
$374.2K
Cap Rate 9%
$291,033
$291.0K
Market Conditions
NOI Build-Up for 2,120 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
$45.8K $21.60/SF
− Vacancy
−$5.5K −$2.59/SF
EGI
$40.3K $19.01/SF
− OpEx
−$14.1K −$6.65/SF
NOI
$26.2K $12.36/SF
Area
Missoula County, MT
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$523,860
Cap Rate 7%
$374,186
Cap Rate 9%
$291,033
Alternative Uses
Best Use
Flex RnD
$374.2K
$327.4K – $436.6K
NOI $26,193 @ 7.0% cap · market cap 5.97%
Second Best
Warehouse
$267.1K
$233.8K – $311.7K
NOI $18,700 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$611.2K
$534.8K – $713.1K
NOI $42,787 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Finished office and showroom space adjoins an open warehouse with grade-level loading.
Where is this flex space located?
The property is located at 5730 Expressway F Missoula, MT.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: 2,120‑square‑foot flex condominium built in 2021; Approximately 18‑foot warehouse clear height; 14‑foot grade‑level overhead door
