Industrial Warehouse with Loading
New
For Sale
$4,500,000
1011 Second, Butte, MT 59701
Industrial facility combines warehouse space, offices, loading infrastructure, and yard parking for distribution-oriented operations.
Property Size27,940 SF
Price / SF$161.06
Days on Market3
Property Features for 1011 Second
General Information
Standard status
Active
Size
27,940 SF
Total Parking Spaces
27
Property subtype
Commercial
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
22,940 SF
Office Build-Out
5,000 SF
Dock-High Doors
2
Drive-In Doors
1
Three-Phase Power
Yes
Cold Storage
Yes
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$32,265
Amenities
conference room
showers
walk-in safe
Building Details
Year Built
1990
Buildings
1
Construction
cement block
Listing Agency:
Century 21 Shea Realty - Butte
(406) 560-5366
Listed By:
Jennifer Shea · License #RRE-BRO-LIC-13804
Source:
Clearwaterproperties
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 4:53AM
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 Century 21 Shea Realty - Butte
Investment Insights
Based on property information with market context.
Built in 1990, this industrial warehouse at 1011 Second in Butte, Montana, contains approximately 22,940 square feet of warehouse area and approximately 5,000 square feet of office space. The concrete-block building has a metal roof and steel-truss construction. Warehouse improvements include approximately 20-foot ceilings, a cooler, extensive storage, heat and air conditioning, two semi loading docks, three industrial overhead doors, and a bay door with a drive-in ramp. Three-phase electric service supports the facility.
The two-story office component includes a reception area, five main-level offices, executive offices upstairs, a conference room, a walk-in safe, and three restrooms, including two with showers. Four additional exterior exits serve the building. Parking accommodates 27 vehicles, with further parking available in the yard area. The property is located in the Butte Warehouse District.
The two-story office component includes a reception area, five main-level offices, executive offices upstairs, a conference room, a walk-in safe, and three restrooms, including two with showers. Four additional exterior exits serve the building. Parking accommodates 27 vehicles, with further parking available in the yard area. The property is located in the Butte Warehouse District.
Key Highlights
- Approximately 27,940 square feet total, including 22,940 square feet of warehouse area and 5,000 square feet of offices
- Two semi loading docks, three industrial overhead doors, and one bay door with drive‑in ramp
- Approximately 20‑foot warehouse ceilings with cooler and storage space
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
$205,841
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
4.57%
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%
$4,116,820
$4.1M
Cap Rate 7%
$2,940,586
$2.9M
Cap Rate 9%
$2,287,122
$2.3M
Market Conditions
NOI Build-Up for 27,940 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
$261.5K $9.36/SF
− Vacancy
−$19.4K −$0.69/SF
EGI
$242.2K $8.67/SF
− OpEx
−$36.3K −$1.30/SF
NOI
$205.8K $7.37/SF
Area
Silver Bow County, MT
Vacancy
7.40%
Lease Rate
$9.36 /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%
$4,116,820
Cap Rate 7%
$2,940,586
Cap Rate 9%
$2,287,122
Alternative Uses
Best Use
Warehouse
$2.94M
$2.57M – $3.43M
NOI $205,841 @ 7.0% cap · market cap 4.57%
Second Best
Industrial
$2.42M
$2.12M – $2.83M
NOI $169,516 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$6.09M
$5.33M – $7.10M
NOI $426,248 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59701, MT
33,937
Population
16,834
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
509.7 sq mi
ZIP Area
67
Density / Sq Mi
$56,799
Median Household Income
$34,793
Median Earnings
$811
Median Rent
$219,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility combines warehouse space, offices, loading infrastructure, and yard parking for distribution-oriented operations.
Where is this warehouse located?
The property is located at 1011 Second Butte, MT.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Approximately 27,940 square feet total, including 22,940 square feet of warehouse area and 5,000 square feet of offices; Two semi loading docks, three industrial overhead doors, and one bay door with drive‑in ramp; Approximately 20‑foot warehouse ceilings with cooler and storage space
