Commercial Condo Office/Showroom
For Sale
$99,900
129 Village Drive Unit 302, Belgrade, MT 59714
Commercial condo unit with large windows and a flexible interior layout for office or showroom use.
Property Size386 SF
Price / SF$258.81
Days on Market89
Property Features for 129 Village Drive Unit 302
General Information
Standard status
Active
Size
386 SF
Building Details
Year Built
2003
Listing Agency:
Windermere Great Divide-Bozeman
(406) 580-7029
Listed By:
Dina Emmert · License #RRE-BRO-LIC-45433
Source:
Purewestrealestate
Added: May 14
Changed: Jul 22
Last Checked: Aug 9 at 5:12AM
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 Windermere Great Divide-Bozeman
Investment Insights
Based on property information with market context.
This commercial condo (Unit 302) at 129 Village Drive offers a flexible interior layout designed to support a range of commercial needs, including office, professional services, retail showroom, or other approved commercial uses. The space includes large windows for natural light and an efficient floor plan that can be arranged for private offices, open work areas, meeting space, or customized operations.
The unit is located within a commercial development described as providing convenient, easy access and ample nearby parking. The property is positioned near Belgrade’s expanding residential neighborhoods, the downtown business district, and in proximity to Bozeman Yellowstone International Airport and Interstate access.
The offering is an ownership opportunity for a tenant seeking their own space or an investor looking to add a commercial condo to a portfolio.
The unit is located within a commercial development described as providing convenient, easy access and ample nearby parking. The property is positioned near Belgrade’s expanding residential neighborhoods, the downtown business district, and in proximity to Bozeman Yellowstone International Airport and Interstate access.
The offering is an ownership opportunity for a tenant seeking their own space or an investor looking to add a commercial condo to a portfolio.
Key Highlights
- Commercial condo unit built in 2003 at 129 Village Drive, Unit 302
- Flexible interior layout suitable for office, professional services, retail showroom, or other approved commercial uses
- Large windows for natural light throughout the unit
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
$5,678
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
5.68%
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%
$113,560
$113.6K
Cap Rate 7%
$81,114
$81.1K
Cap Rate 9%
$63,089
$63.1K
Market Conditions
NOI Build-Up for 386 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
$8.1K $21.00/SF
− Vacancy
−$535 −$1.39/SF
EGI
$7.6K $19.61/SF
− OpEx
−$1.9K −$4.90/SF
NOI
$5.7K $14.71/SF
Area
Gallatin County, MT
Vacancy
6.60%
Lease Rate
$21.00 /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%
$113,560
Cap Rate 7%
$81,114
Cap Rate 9%
$63,089
Alternative Uses
Best Use
Office B
$81.1K
$71.0K – $94.6K
NOI $5,678 @ 7.0% cap · market cap 5.68%
Second Best
Retail
$64.6K
$56.5K – $75.4K
NOI $4,523 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$100.8K
$88.2K – $117.6K
NOI $7,055 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 59714, MT
22,333
Population
10,043
Households
2.2
Avg Household Size
35
Median Age
37%
College-Educated
97%
High-School Grad
418.2 sq mi
ZIP Area
53
Density / Sq Mi
$89,217
Median Household Income
$47,587
Median Earnings
$1,558
Median Rent
$490,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condo unit with large windows and a flexible interior layout for office or showroom use.
Where is this office units located?
The property is located at 129 Village Drive Unit 302 Belgrade, MT.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: Commercial condo unit built in 2003 at 129 Village Drive, Unit 302; Flexible interior layout suitable for office, professional services, retail showroom, or other approved commercial uses; Large windows for natural light throughout the unit
