Spacious Industrial Property Near
For Sale
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119 S Washington Ave, Laurel, MT
Versatile industrial property with office space and ample parking.
Property Size24,930 SF
Lot Size2.55 Acres
Price / SF$92.26
Days on Market415
Property Features for 119 S Washington Ave
General Information
Standard status
Active
Size
24,930 SF
Lot size
2.55 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Coldwell Banker Commercial CBS
(406) 698-8636
Listed By:
Bruce Knudsen
(406) 698-8636
Source:
Moodyscre
Added: Jun 23, 2025
Changed: Aug 8
Last Checked: May 20 at 8:22PM
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 Coldwell Banker Commercial CBS
Investment Insights
Based on property information with market context.
This property features a spacious layout and includes office space, a breakroom, and a locker room. It offers ample off-street parking for staff and visitors. The property consists of three separate buildings, providing a versatile setup suitable for multiple uses or tenants. Situated in a prime location near Walmart, the property benefits from high-traffic and great visibility. The sizable 2.6-acre lot offers plenty of room for expansion, storage, or outdoor use. The main building has been upgraded with a sprinkler system, power, and air upgrades.
Key Highlights
- Excellent price per square foot – spacious layout offering great value
- Prime location near Walmart – high‑traffic area with great visibility
- Sizable 2.6‑acre lot – plenty of room for expansion, storage, or outdoor use
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
$182,132
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
7.92%
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%
$3,642,640
$3.6M
Cap Rate 7%
$2,601,886
$2.6M
Cap Rate 9%
$2,023,689
$2.0M
Market Conditions
NOI Build-Up for 24,930 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
$224.4K $9.00/SF
− Vacancy
−$10.1K −$0.41/SF
EGI
$214.3K $8.59/SF
− OpEx
−$32.1K −$1.29/SF
NOI
$182.1K $7.31/SF
Area
Yellowstone County, MT
Vacancy
4.50%
Lease Rate
$9.00 /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%
$3,642,640
Cap Rate 7%
$2,601,886
Cap Rate 9%
$2,023,689
Alternative Uses
Best Use
Office B
$4.09M
$3.58M – $4.77M
NOI $286,072 @ 7.0% cap · market cap 12.44%
Second Best
Warehouse
$2.60M
$2.28M – $3.04M
NOI $182,132 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$5.42M
$4.74M – $6.32M
NOI $379,096 @ 7.0% cap · market cap 16.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Laurel Southside Storage — 215 S 4th St, Laurel, MT 59044
Frequently Asked Questions
What type of property is this?
Warehouse - Versatile industrial property with office space and ample parking.
Where is this warehouse located?
The property is located at 119 S Washington Ave Laurel, MT.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Excellent price per square foot – spacious layout offering great value; Prime location near Walmart – high‑traffic area with great visibility; Sizable 2.6‑acre lot – plenty of room for expansion, storage, or outdoor use
