Laurel Retail Building with
For Sale
$1,295,000
315 South 1st Avenue, Laurel, MT 59044
3,397 SF retail building with redevelopment potential in Laurel, MT.
Property Size3,397 SF
Lot Size0.48 Acres
Price / SF$381.22
Days on Market158
Property Features for 315 South 1st Avenue
General Information
Standard status
Active
Size
3,397 SF
Lot size
0.48 Acres
Property subtype
Retail
Building Details
Building Size
3,397 SF
Year Built
2007
Listing Agency:
NAI Business Properties
Listed By:
Ethan Kanning · License #RRE-RBS-LIC-45682
(406) 672-0435
Source:
Naiglobal
Added: Apr 1
Changed: Aug 16
Last Checked: Sep 5 at 4:10AM
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 NAI Business Properties
Investment Insights
Based on property information with market context.
The subject property features 3,397 square feet of retail space, divided into a 2,413-square-foot convenience store and a 984-square-foot casino. Constructed in 2007 and well-maintained, the property offers high visibility and accessibility on a hard corner with a lit intersection in Laurel, MT. The lot measures 21,000 square feet but functions as a 30,000-square-foot lot with east and north drive lanes. The site can accommodate a drive-thru with a smaller retail footprint, pending total square footage used and occupancy type; buyers should verify and complete their own due diligence. The seller will remove tanks and canopies at their own expense if desired. The buyer can continue the Cenex fuel contract, or the seller will terminate the fuel contract if desired by the buyer at closing. The casino is owner-operated and can be relocated, or a sale-leaseback is available. The property is suitable for a gas user or retail redevelopment.
Key Highlights
- Excellent visibility and access on a hard corner with a lit intersection.
- 3,397 SF Gas/Retail Building suitable for gas user or retail redevelopment.
- Potential for drive‑thru with smaller retail footprint (buyer to verify).
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
$49,780
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
3.84%
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%
$995,600
$995.6K
Cap Rate 7%
$711,143
$711.1K
Cap Rate 9%
$553,111
$553.1K
Market Conditions
NOI Build-Up for 3,397 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
$68.1K $20.04/SF
− Vacancy
−$1.7K −$0.50/SF
EGI
$66.4K $19.54/SF
− OpEx
−$16.6K −$4.88/SF
NOI
$49.8K $14.65/SF
Area
Yellowstone County, MT
Vacancy
2.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$995,600
Cap Rate 7%
$711,143
Cap Rate 9%
$553,111
Alternative Uses
Best Use
Specialty Retail
$711.1K
$622.3K – $829.7K
NOI $49,780 @ 7.0% cap · market cap 3.84%
Second Best
Retail
$464.7K
$406.6K – $542.2K
NOI $32,530 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$737.9K
$645.7K – $860.9K
NOI $51,656 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Albertsons — 205 S 1st Ave, Laurel, MT 59044
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - 3,397 SF retail building with redevelopment potential in Laurel, MT.
Where is this grocery and convenience store located?
The property is located at 315 South 1st Avenue Laurel, MT.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Excellent visibility and access on a hard corner with a lit intersection.; 3,397 SF Gas/Retail Building suitable for gas user or retail redevelopment.; Potential for drive‑thru with smaller retail footprint (buyer to verify).
