Flex Space with Office & Three
For Sale
Contact for pricing
119 S Washington Ave, Laurel, MT 59044
Three-building flex property with office, breakroom, locker room, and upgraded sprinkler, power and air systems.
Property Size24,930 SF
Lot Size2.60 Acres
Price / SF$92.26
Days on Market450
Property Features for 119 S Washington Ave
General Information
Standard status
Active
Size
24,930 SF
Lot size
2.60 Acres
Property subtype
INDUSTRIAL
Additional Details
Sprinkler System
Yes
Amenities
offices
breakroom
locker room
Building Details
Buildings
3
Listing Agency:
Coldwell Banker Commercial CBS
(406) 656-2001
Listed By:
Bruce Knudsen · License ##RRE-BRO-LIC-127352
(406) 698-8636
Source:
Moodyscre
Added: Jun 23, 2025
Changed: Sep 12
Last Checked: Sep 14 at 12:44PM
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.
Flex space property featuring three separate buildings and a functional office setup for daily operations. The offering includes offices plus a breakroom and locker room, supporting a streamlined work environment.
The property sits on a sizable 2.6-acre lot with ample off-street parking for staff and visitors. With a total size of 24,930 SF, it provides space for multiple uses or tenants within a three-building configuration. The main building has been upgraded with a sprinkler system and additional power and air upgrades.
Located near Walmart in a high-traffic area, the site is positioned for visibility and convenient access in the Laurel, MT market.
The property sits on a sizable 2.6-acre lot with ample off-street parking for staff and visitors. With a total size of 24,930 SF, it provides space for multiple uses or tenants within a three-building configuration. The main building has been upgraded with a sprinkler system and additional power and air upgrades.
Located near Walmart in a high-traffic area, the site is positioned for visibility and convenient access in the Laurel, MT market.
Key Highlights
- Three separate buildings for multiple uses or tenants
- 2.6‑acre lot with ample off‑street parking for staff and visitors
- Total size of 24,930 SF for flexible occupancy
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
Flex RnD
$4.08M
$3.57M – $4.76M
NOI $285,731 @ 7.0% cap · market cap 12.42%
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
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59044, MT
12,099
Population
5,247
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
95%
High-School Grad
175.1 sq mi
ZIP Area
69
Density / Sq Mi
$86,011
Median Household Income
$40,535
Median Earnings
$983
Median Rent
$317,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Mindi's Burgers — 401 E Main St, Laurel, MT 59044
Frequently Asked Questions
What type of property is this?
Flex space - Three-building flex property with office, breakroom, locker room, and upgraded sprinkler, power and air systems.
Where is this flex space 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: Three separate buildings for multiple uses or tenants; 2.6‑acre lot with ample off‑street parking for staff and visitors; Total size of 24,930 SF for flexible occupancy
