Heated Insulated
For Sale
$489,260
Pending
1102 Jackrabbit Lane, Belgrade, MT 59714
CommercialSale, Belgrade, MT
Property Size1,439 SF
Days on Market587
Property Features for 1102 Jackrabbit Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
MU - Mixed Use
Directions
N on Jackrabbit Ln past Cruiser, complex on R
Subdivision
3B - Belgrade City Limits
Standard status
Pending
APN
00REF87266
Size
1,439 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
JACKRABBIT LANE WAREHOUSES CONDO, S35, T01 N, R04 E, UNIT 1, 1102 JACKRABBIT LN
Tax Annual Amount
1399
Legal Description
JACKRABBIT LANE WAREHOUSES CONDO, S35, T01 N, R04 E, UNIT 1, 1102 JACKRABBIT LN
Building Details
Year built
2024
Listing Agency:
Berkshire Hathaway - Bozeman · Berkshire Hathaway HomeServices
(406) 586-7676
Listed By:
Nicole Taranto Daniel · License #RBS-46320
(406) 539-5358
Added: Jan 17, 2025
Changed: Aug 19
Last Checked: Aug 27 at 2:06AM
MLS# 399006
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.
Completed in 2024, this 1,439-square-foot commercial condo features an insulated metal building with heating, 18-foot ceilings, and a 14' x 14' garage door. The configuration is suited to warehouse storage, trade-oriented operations, retail activity, and accommodation of large vehicles or recreational equipment.
The property is located at 1102 Jackrabbit Lane in Belgrade, within Gallatin County. It is positioned near Bozeman Yellowstone International Airport, with interstate access nearby and a direct route toward Big Sky. Its location places the warehouse within the Belgrade and Bozeman commercial area.
The property is located at 1102 Jackrabbit Lane in Belgrade, within Gallatin County. It is positioned near Bozeman Yellowstone International Airport, with interstate access nearby and a direct route toward Big Sky. Its location places the warehouse within the Belgrade and Bozeman commercial area.
Key Highlights
- 1,439‑square‑foot commercial condo completed in 2024
- Insulated metal building with heating
- 18‑foot ceilings
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
$18,145
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
3.71%
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%
$362,900
$362.9K
Cap Rate 7%
$259,214
$259.2K
Cap Rate 9%
$201,611
$201.6K
Market Conditions
NOI Build-Up for 1,439 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
$21.6K $15.00/SF
− Vacancy
−$237 −$0.17/SF
EGI
$21.3K $14.83/SF
− OpEx
−$3.2K −$2.23/SF
NOI
$18.1K $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%
$362,900
Cap Rate 7%
$259,214
Cap Rate 9%
$201,611
Alternative Uses
Best Use
Warehouse
$259.2K
$226.8K – $302.4K
NOI $18,145 @ 7.0% cap · market cap 3.71%
Second Best
Flex RnD
$250.1K
$218.8K – $291.8K
NOI $17,507 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$375.8K
$328.8K – $438.4K
NOI $26,303 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
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 - Commercial condo with high ceilings and a large garage door supports a range of warehouse-oriented 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 $489,260.
What are key features of this property?
This property features: 1,439‑square‑foot commercial condo completed in 2024; Insulated metal building with heating; 18‑foot ceilings
