Helena Office Building For
For Sale
$735,000
790 Colleen Street, Helena, MT 59601
Office building with federal lease and long-term tenancy.
Property Size5,550 SF
Lot Size1.12 Acres
Days on Market169
Property Features for 790 Colleen Street
General Information
Standard status
Active
Size
5,550 SF
Lot size
1.12 Acres
Property subtype
Office
Building Details
Building Size
5,550 SF
Year Built
1992
Listing Agency:
Coldwell Banker Commercial | Green & Green
(406) 916-2259
Listed By:
Mark Runde · License #RBS
(406) 916-2259
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Apr 5 at 8:37PM
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 Coldwell Banker Commercial | Green & Green
Investment Insights
Based on property information with market context.
This office building for sale has 7 years remaining on a federal lease (GSA) and an in-place cap rate of 6%. The USDA has been a tenant for over 20 years. The property is located just off US-12 within the established Inter-City Industrial Subdivision, offering convenient access and 35 on-site parking spaces on well-maintained asphalt. The property is situated on 1.12 acres. The current owner has engaged a local professional property management firm, which is willing to remain in place. The property is located in Helena, Montana.
Key Highlights
- 6% in‑place cap rate supported by a long‑term federal (GSA) lease with 7 years remaining
- Stable, passive income stream backed by a 20+ year USDA tenancy
- Professional property management firm in place, ensuring continuity of operations
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
$59,441
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
8.09%
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%
$1,188,820
$1.2M
Cap Rate 7%
$849,157
$849.2K
Cap Rate 9%
$660,456
$660.5K
Market Conditions
NOI Build-Up for 5,550 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
$93.2K $16.80/SF
− Vacancy
−$14.0K −$2.52/SF
EGI
$79.3K $14.28/SF
− OpEx
−$19.8K −$3.57/SF
NOI
$59.4K $10.71/SF
Area
Lewis and Clark County, MT
Vacancy
15.00%
Lease Rate
$16.80 /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%
$1,188,820
Cap Rate 7%
$849,157
Cap Rate 9%
$660,456
Alternative Uses
Best Use
Office B
$849.2K
$743.0K – $990.7K
NOI $59,441 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,396 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
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 with federal lease and long-term tenancy.
Where is this office building located?
The property is located at 790 Colleen Street Helena, MT.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 6% in‑place cap rate supported by a long‑term federal (GSA) lease with 7 years remaining; Stable, passive income stream backed by a 20+ year USDA tenancy; Professional property management firm in place, ensuring continuity of operations
