Riverside Plaza Unit 5
Stabilized Income Asset — 7.0% Cap Rate on Fully Leased Office Condo
Marketing description
$1,985,000 | 7.0% Cap Rate | 100% Occupied
A rare, fully stabilized office condominium investment in downtown Whitefish — one of Montana's fastest-growing, highest-income micro-markets. Unit 5 spans 5,150 SF on the third floor of Riverside Plaza: 11 leased executive suites with river and mountain views, steps from the Whitefish River Trail.
100% occupied today, with net operating income of approximately $139,000/year reflecting a 7.0% cap rate. That income is anchored by working professionals drawn to Whitefish's lifestyle-led growth — Flathead County has been Montana's #1 fastest-growing county since 2020, with remote professionals now over a fifth of the local labor force — in a market where comparable office product is nearly impossible to find. Two dedicated parking lots, a genuinely scarce amenity in this part of downtown Whitefish, give tenants a further edge.
In-place leases carry contracted rent escalations through 2027–2028, with an anchor tenant secured through June 2029. Staggered suite expirations through 2029 give an owner-user a path to phase into occupancy over time, while the rest of the unit keeps generating income.
More than a building, Riverside Plaza is a genuine professional community. Its tenant roster — healthcare, legal, wellness, financial services, landscape architecture, construction, and nonprofits — actively cross-refers clients, reinforcing its own retention. That collegiality, plus an on-site waiting list, gives this asset a stickiness hard to replicate elsewhere.
Buyers seeking scale should ask about acquiring Unit 4 (2nd floor, also 100% leased) alongside Unit 5 — over 10,000 SF combined, with majority ownership of the building.
1031 exchange buyers welcome. 2.5% Buyer's Broker Commission Offered.
Contact: Esther Barnes, Member/Principal, Brega Barnes Properties, LLC
(406) 249-7509 | [email protected]
Investment highlights
- 100% occupied with demonstrated tenant demand, tenant waiting list, and a building tenants have consistently chosen to stay in
- Durable Lease Structure - Select suites carry contracted rent escalations through 2027–2028; anchor tenant is contracted through June 2029 with two further scheduled rent steps — staggered terms also support owner-user flexibility
- Passive Ownership - Facilities management, association administration, building systems and common areas handled by the condo association
- Projected Growth Market - Whitefish projected to grow 25–53% by 2045 — high-income professionals now 21% of local labor pool; Flathead County #1 fastest-growing in Montana every year since 2020
- Path to Majority Building Ownership - Possibility to acquire Unit 4 (2nd floor, $2,170,000, NOI $152,000 at 7.0%) alongside Unit 5 for combined ownership of the entire 2nd & 3rd floors — >52% building interest and full COA board control
- 2.5% Buyer's Broker Commission Offered.
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