Building Details

Year built 1925

Floors in Building 1

Building materials Brick, Frame, Masonry

Roof type Asphalt, Shingle

Architectural style Other

Listing Agency: H BAR S Real Estate Show Phone

Listed By: Rene Turnbull · License #RRE-RBS-LIC-99200 Show Phone

Added: Sep 22 Changed: Sep 23 Last Checked: Sep 25 at 5:06AM

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MLS# 362024

Copyright © 2026 Billings Association of Realtors. 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 mixed-use property includes an older residence, a former ice cream shop, and two sheds across 11 lots. The improvements total 1,064 square feet and are offered in their existing condition, providing a combination of residential and commercial structures for continued use or redevelopment. Construction includes brick, frame, and masonry elements, with asphalt shingle roofing and propane heat.

The property is positioned on Main Street along the main highway in BearCreek, Montana. Public water and public sewer serve the site. The surrounding area includes access to hiking, fishing, skiing, Beartooth Highway, National Forest lands, and Yellowstone National Park, while Red Lodge is nearby. The 0.915-acre holding offers multiple lots and existing structures in a small-town setting.

Key Highlights

• 11‑lot mixed‑use property with an older residence and former ice cream shop
• 1,064 square feet of existing improvements
• Two sheds included with the property

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

$10,893

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

3.82%

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%

$217,860 $217.9K

Cap Rate 7%

$155,614 $155.6K

Cap Rate 9%

$121,033 $121.0K

Market Conditions

NOI Build-Up for 1,064 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

$16.0K $15.00/SF

− Vacancy

−$399 −$0.38/SF

EGI

$15.6K $14.63/SF

− OpEx

−$4.7K −$4.39/SF

NOI

$10.9K $10.24/SF

Area

Carbon County, MT

Vacancy

2.50%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

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%

$217,860

Cap Rate 7%

$155,614

Cap Rate 9%

$121,033

Alternative Uses

Best Use

Retail

$155.6K

$136.2K – $181.6K (±1% cap)

NOI $10,893 @ 7.0% cap · market cap 3.82%

Second Best

Mixed Use

$146.8K

$128.5K – $171.3K (±1% cap)

NOI $10,278 @ 7.0% cap · market cap 3.61%

Theoretical Best

Office A

$232.2K

$203.1K – $270.9K (±1% cap)

NOI $16,251 @ 7.0% cap · market cap 5.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Auto Parts Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Explore this area Business Placement

Demographics for 59007, MT

105

Population

55

Households

1.9

Avg Household Size

38

Median Age

39%

College-Educated

100%

High-School Grad

31.7 sq mi

ZIP Area

3

Density / Sq Mi

$110,250

Median Household Income

$907

Median Rent

$200,000

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Main highway frontage combines existing residential and commercial improvements with public water and sewer service.

Where is this mixed-use property located?

The property is located at 123 Main Street Bearcreek, MT.

What is the asking price?

The asking price for this property is $285,000.

What are key features of this property?

This property features: 11‑lot mixed‑use property with an older residence and former ice cream shop; 1,064 square feet of existing improvements; Two sheds included with the property