Building Details

Year Built 1976

Buildings 1

Listing Agency: ERA Lambros Real Estate Missoula

Listed By: Rick Meisinger · License #RRE-BRO-LIC-12362 Show Phone

Source: Jasonbakerteam

Added: Aug 2 Changed: Oct 12 Last Checked: Oct 7 at 1:36PM

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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 ERA Lambros Real Estate Missoula

Investment Insights

Based on property information with market context.

This office condominium combines suites Q, R, and S into 3,260 square feet of connected workspace. The layout includes 11 private offices, a reception and waiting area, a conference room, a file and flex room, and a full kitchen. Each suite has its own entrance, and the three units may be deeded separately. Furniture may remain, excluding file cabinets.

The property includes 5 assigned underground parking spaces along with abundant surface parking. Built in 1976, the professional building is located on SW Higgins Avenue, minutes from downtown Missoula and the University of Montana. Grocery stores, restaurants, and other key amenities are also nearby.

Key Highlights

• 3,260 square feet across contiguous suites Q, R & S
• 11 private offices plus reception, waiting, conference, file/flex, and kitchen areas
• 3 private entrances; suites may be deeded individually

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,995

Cap Rate

5.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$759,900 $759.9K

Cap Rate 7%

$542,786 $542.8K

Cap Rate 9%

$422,167 $422.2K

Market Conditions

NOI Build-Up for 3,260 SF

Gross rent

$68.5K $21.00/SF

− Vacancy

−$17.8K −$5.46/SF

EGI

$50.7K $15.54/SF

− OpEx

−$12.7K −$3.89/SF

NOI

$38.0K $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 Rate 5%

$759,900

Cap Rate 7%

$542,786

Cap Rate 9%

$422,167

Alternative Uses

Best Use

Office B

$542.8K

$474.9K – $633.3K (±1% cap)

NOI $37,995 @ 7.0% cap · market cap 5.07%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$939.9K

$822.4K – $1.10M (±1% cap)

NOI $65,795 @ 7.0% cap · market cap 8.77%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Sugarloaf Mountain, LLC Ranch Rutherford Mac Donald ... Tax Preparation Burke & Associates PC Accounting Firm Stephanie DeBoer, Attorney ... Law Firm Rocky Mountain Counseling ... Crisis Center

Suggested Use

Top Pick Building Supply Parking Lot & Garage HVAC Service Big Box & Wholesale Store Auto Parts Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Office units

Location Intelligence

Trade Area within ½ mile

569

Businesses Nearby

Explore this area Business Placement

Demographics for 59803, MT

17,203

Population

6,813

Households

2.5

Avg Household Size

40

Median Age

53%

College-Educated

97%

High-School Grad

97.0 sq mi

ZIP Area

177

Density / Sq Mi

$108,992

Median Household Income

$49,831

Median Earnings

$1,194

Median Rent

$492,900

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Configured for professional operations with private offices, meeting space, kitchen facilities, and separate access points.

Where is this office units located?

The property is located at 619 SW Higgins Ave Missoula, MT.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: 3,260 square feet across contiguous suites Q, R & S; 11 private offices plus reception, waiting, conference, file/flex, and kitchen areas; 3 private entrances; suites may be deeded individually