Heated Warehouse
For Sale
$500,925
1102 Jackrabbit Lane, Belgrade, MT 59714
CommercialSale, Belgrade, MT
Property Size1,449 SF
Price / SF$345.70
Days on Market57
Property Features for 1102 Jackrabbit Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU
Directions
From Jackrabbit and Cruiser, N on Jackrabbit, Complex on R side of road after Happy Lane. 1102 building on south side of complex
Subdivision
3B - Belgrade City Limits
Standard status
Active
APN
00REF87269
Size
1,449 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
JACKRABBIT LANE WAREHOUSES CONDO, S35, T01 N, R04 E, UNIT 4, 1102 JACKRABBIT LN
Tax Annual Amount
1730
HOA Fee
$95 Monthly
Legal Description
JACKRABBIT LANE WAREHOUSES CONDO, S35, T01 N, R04 E, UNIT 4, 1102 JACKRABBIT LN
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2024
Listing Agency:
Berkshire Hathaway - Bozeman · Berkshire Hathaway HomeServices
(406) 586-7676
Listed By:
Nicole Taranto · License #RBS-46320
(406) 539-5358
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 26 at 10:06PM
MLS# 412747
Copyright © 2026 Big Sky Country 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 1,449-square-foot commercial condo is a 2024 warehouse improvement with a fully insulated and heated metal building. The interior includes professionally finished epoxy flooring, custom metal walls, a wood accent wall in the bathroom, and an upgraded utility sink. An 18-foot ceiling and oversized overhead garage door support equipment, vehicle, storage, and workspace needs.
The property is located at 1102 Jackrabbit Lane in Belgrade, with access to Bozeman Yellowstone International Airport, Interstate 90, Bozeman, and the route to Big Sky. Public water and public sewer serve the property. The configuration is suited to commercial and industrial operations, including contractors, trades, hobbyists, and owner-users.
The property is located at 1102 Jackrabbit Lane in Belgrade, with access to Bozeman Yellowstone International Airport, Interstate 90, Bozeman, and the route to Big Sky. Public water and public sewer serve the property. The configuration is suited to commercial and industrial operations, including contractors, trades, hobbyists, and owner-users.
Key Highlights
- 1,449 SF warehouse condo completed in 2024
- Fully insulated and heated metal building
- 18‑foot ceilings with an oversized 14' x 14' overhead garage door
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
$18,272
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
3.65%
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%
$365,440
$365.4K
Cap Rate 7%
$261,029
$261.0K
Cap Rate 9%
$203,022
$203.0K
Market Conditions
NOI Build-Up for 1,449 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
$21.7K $15.00/SF
− Vacancy
−$239 −$0.17/SF
EGI
$21.5K $14.83/SF
− OpEx
−$3.2K −$2.23/SF
NOI
$18.3K $12.61/SF
Area
Gallatin County, MT
Vacancy
1.10%
Lease Rate
$15.00 /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%
$365,440
Cap Rate 7%
$261,029
Cap Rate 9%
$203,022
Alternative Uses
Best Use
Warehouse
$261.0K
$228.4K – $304.5K
NOI $18,272 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.4K
$331.1K – $441.4K
NOI $26,485 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59714, MT
22,333
Population
10,043
Households
2.2
Avg Household Size
35
Median Age
37%
College-Educated
97%
High-School Grad
418.2 sq mi
ZIP Area
53
Density / Sq Mi
$89,217
Median Household Income
$47,587
Median Earnings
$1,558
Median Rent
$490,000
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.
Similar Off Market Nearby
- High Plains Self Storage — 65 High Plains Rd, Belgrade, MT 59714
- At Home Storage — 1205 Rizzo Ln, Belgrade, MT 59714
Frequently Asked Questions
What type of property is this?
Warehouse - Insulated commercial space with durable finishes, tall ceilings, and a large overhead door for flexible business operations.
Where is this warehouse located?
The property is located at 1102 Jackrabbit Lane Belgrade, MT.
What is the asking price?
The asking price for this property is $500,925.
What are key features of this property?
This property features: 1,449 SF warehouse condo completed in 2024; Fully insulated and heated metal building; 18‑foot ceilings with an oversized 14' x 14' overhead garage door
