Building Details

Year built 2016

Flooring type Concrete

Building materials Block, WoodFrame

Roof type Metal

Listing Agency: Dahlquist Realtors l***@dahlquistrealtors.com Show Phone

Listed By: Kevin Taggart · License #RRE-BRO-LIC-119043 Show Phone

Added: Sep 17 Changed: Sep 25 Last Checked: Sep 25 at 2:06PM

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MLS# 30078488

Copyright © 2026 Montana Regional MLS. 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.

This warehouse property at 3020 Old Havre Highway includes approximately 16,000 square feet across an original 60-by-150 building and an 80-by-100 addition completed in 2016. One section provides 20-foot sidewalls with a 16-foot overhead door, while roughly 8,000 square feet has 14-foot sidewalls and additional overhead doors. A loading dock, concrete flooring, metal roofing, forced-air natural gas heat, and block and wood-frame construction support a range of industrial functions.

The property is zoned Industrial - Light and includes a 95 GPM well drawing from the Madison Aquifer. Each building has 200 amps of 460-volt, 3-phase power, with capacity for future expansion. Water is supplied by a private well, and wastewater service includes a septic tank and private sewer. Located in Black Eagle, the site offers access to industrial areas in Great Falls.

Key Highlights

• Approximately 16,000 square feet of warehouse space
• Original 60x150 building paired with an 80x100 addition built in 2016
• 20‑foot sidewalls and a 16‑foot overhead door in one building section

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

$91,066

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

5.39%

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%

$1,821,320 $1.8M

Cap Rate 7%

$1,300,943 $1.3M

Cap Rate 9%

$1,011,844 $1.0M

Market Conditions

NOI Build-Up for 16,000 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

$115.2K $7.20/SF

− Vacancy

−$8.1K −$0.50/SF

EGI

$107.1K $6.70/SF

− OpEx

−$16.1K −$1.00/SF

NOI

$91.1K $5.69/SF

Area

Cascade County, MT

Vacancy

7.00%

Lease Rate

$7.20 /SF/Yr

Expense Ratio

15.00%

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%

$1,821,320

Cap Rate 7%

$1,300,943

Cap Rate 9%

$1,011,844

Alternative Uses

Best Use

Warehouse

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,066 @ 7.0% cap · market cap 5.39%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$3.11M

$2.72M – $3.63M (±1% cap)

NOI $217,964 @ 7.0% cap · market cap 12.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Hair Salon Parking Lot & Garage Building Supply

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

1

Dock-high doors

Yes

Heavy power

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

272

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 59414, MT

950

Population

501

Households

1.9

Avg Household Size

44

Median Age

11%

College-Educated

80%

High-School Grad

1.7 sq mi

ZIP Area

559

Density / Sq Mi

$55,588

Median Household Income

$857

Median Rent

$179,800

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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

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Similar Off Market Nearby

• H & H Mini Storage — 2400 10th St NE, Black Eagle, MT 59414
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Frequently Asked Questions

What type of property is this?

Warehouse - Multi-section facility offers varied clearances, overhead access, and substantial electrical capacity for industrial operations.

Where is this warehouse located?

The property is located at 3020 Old Havre Highway Black Eagle, MT.

What is the asking price?

The asking price for this property is $1,690,000.

What are key features of this property?

This property features: Approximately 16,000 square feet of warehouse space; Original 60x150 building paired with an 80x100 addition built in 2016; 20‑foot sidewalls and a 16‑foot overhead door in one building section