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    10 S Woodard Ave Absarokee, MT 59001

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    Claim this Listing
    For Sale
    Under Contract
    $704,000

    COMMERCIAL - Other - Absarokee, MT

    Property size:
    6,900 SF
    Added:
    Jan 12, 2026
    Days on Market:
    90
    Last Refresh:
    Apr 12 at 5:06 pm

    Property Features for 10 S Woodard Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active Under Contract
    APN
    20029
    Size
    6,900 SF

    Taxes and HOA fees

    Tax Description
    AB ORGNL TWNST, S01, T04 S, R18 E, BLOCK 5, FRL LOTS3,4,5,6,7 COS 167111/ S01, T04 S, R18 E, BLOCK 5, S 16.5' OF E 124' LT 4 & N 8.5' OF E 124' LT 5
    Tax Annual Amount
    2256

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1911
    Floors in Building
    2
    Building materials
    Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Kaydn Laudie
    Kaydn Laudie

    Listing agent Kaydn Laudie License #RRE-RBS-LIC-108488

    Listing office Berkshire Hathaway HS Floberg 1550 Poly Drive, BILLINGS, MT

    Listing date Jan 12, 2026

    MLS# 348388

    Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Absarokee Hotel Conversion Opportunity

    The Jay Apartments, formerly the 1911 Absarokee Hotel, presents a unique opportunity. This brick building, situated approximately 100 feet from the town's main intersection, comprises 11 units and has historically maintained near 100% occupancy. Each unit is centrally metered for electrical service and features radiant heat. The basement includes laundry facilities, mechanical rooms, and potential storage units. The second-floor units are arranged in a hotel-style layout. Conversion possibilities include an upscale bed and breakfast, a small hotel, condominium units, or commercial office space. The property consists of two tracts, with the northern plot being buildable and currently serving as green space. Absarokee serves as the gateway to the recreational Stillwater Valley and the Tippet Rise cultural center. The property is located 30 miles from Red Lodge, which offers ski resorts and dining options, and 19 miles north of I-90 and the Yellowstone River. Billings and Bozeman provide convenient air connections. The property size is 6,900 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Big Box & Wholesale Store Spa & Massage Center Auto Repair Shop Hair Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Absarokee
    County
    Stillwater
    State
    Montana
    Longitude
    -109.443261
    Latitude
    45.520074

    Nearby Similar for Sale

    • $349,000

      Profitable Whitewater Rafting Business

      Established whitewater rafting company for sale with growth potential.
      1 N Stillwater Rd, Absarokee, MT, 59001-6236
      View Details
    • $704,000

      Historic Absarokee Hotel Conversion Opportunity

      11-unit property with conversion potential in Absarokee, Montana.
      10 S. Woodard Ave, Absarokee, MT 59001
      View Details

    FAQs

    What type of property is this?
    Apartment building - 11-unit property with conversion potential in recreational gateway location.
    Where is this apartment building located?
    The property is located at 10 S Woodard Ave Absarokee, MT.
    What is the asking price?
    The asking price for this property is $704,000.
    What are key features of this property?
    This property features: Historic 11‑unit brick building (1911 Absorakee Hotel/Jay Apartments) with near 100% occupancy history.; Prime location: Just 100 feet from the town's main intersection in Absarokee.; Conversion potential: Suitable for upscale B&B, small hotel, condo, or commercial office space.
    (406) 425-1074
    We can help!
    Listing Contact
    Kaydn Laudie
    Kaydn Laudie
    Real Estate License ID: RRE-RBS-LIC-108488
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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