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    Legacy Ranch with River Frontage Title is generated by Realmo AI

    204 Husted Road, Lewistown, MT 59457

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    Claim this Listing
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    For Sale
    $4,000,000

    Montana ranch offering live water, productive cattle potential, and prime year-round recreation.

    Type:Ranch/Farm/Resort
    Lot size:
    2,263.00 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:15 am

    Property Features for 204 Husted Road

    General Information

    Standard status
    Active
    Lot size
    2,263.00 Acres
    Property subtype
    Ranch/Farm/Resort

    Building Details

    Year Built
    1951

    We can help!

    Listing Contact
    Tyler Mullaney

    Listing agent Tyler Mullaney

    Listing office Trophy Ranches

    Listing date Jun 2, 2026

    Source Clearwaterproperties

    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 Trophy Ranches

    HighLights

    • 2,263± acres in Central Montana with over a mile of Judith River frontage.
    • Additional Sage Creek frontage and live‑water features for ranch use and recreation.
    • Irrigated acreage included.
    • Year‑round recreation and wildlife habitat supported by the surrounding terrain.
    • Expansive views of the Snowy and Moccasin Mountains.
    • Located 28± miles from Lewistown with continuous block ownership.

    Overview

    The Judith River Confluence Ranch is a legacy-style property in Central Montana with abundant water resources and a working ranch foundation. The ranch includes over a mile of Judith River frontage and frontage along Sage Creek, along with irrigated acreage to support productive use. Beyond ranch operations, the property is positioned for wildlife habitat and seasonal activity, with expansive mountain views of the Snowy and Moccasin Mountains.

    Set in a private, continuous block, the ranch offers convenient access while maintaining a secluded feel. It is located approximately 28 miles from Lewistown, making it both destination-ready and reachable for ongoing management and recreation.

    This is a strong fit for buyers seeking a multi-purpose Montana holding where livestock and outdoor recreation can coexist. The combination of river and creek frontage, irrigated acreage, and established wildlife value supports ranching, hunting, fishing, and year-round use. For investors or operators looking for a distinctive agricultural land asset with lifestyle upside and dependable water, the confluence setting offers a rare balance.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Lewistown
    County
    Fergus
    State
    Montana
    Longitude
    -109.728654
    Latitude
    47.2819335

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    FAQs

    What type of property is this?
    Ranch - Montana ranch offering live water, productive cattle potential, and prime year-round recreation.
    Where is this ranch located?
    The property is located at 204 Husted Road Lewistown, MT.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: 2,263± acres in Central Montana with over a mile of Judith River frontage.; Additional Sage Creek frontage and live‑water features for ranch use and recreation.; Irrigated acreage included.
    We can help!
    Listing Contact
    Tyler Mullaney
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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