Updated Top-Floor Live-Work
For Sale
$299,000
129 Village Drive #301B 301B, Belgrade, MT 59714
Flexible commercial unit with an open layout, private room, full bath, laundry, and balcony views.
Property Size760 SF
Price / SF$393.42
Days on Market43
Property Features for 129 Village Drive #301B 301B
General Information
Standard status
Active
Size
760 SF
Elevators
Yes
Property subtype
CommercialSale
Additional Details
Floor
3
Utilities to Site
Yes
Amenities
in-unit laundry
central air
private balcony
Listing Agency:
Keller Williams Montana Realty
(406) 581-5672
Listed By:
Joyce Thompson · License #BRO-12839
(406) 581-5672
Source:
Hrrealtymt
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 5:49PM
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 Keller Williams Montana Realty
Investment Insights
Based on property information with market context.
This approximately 760-square-foot live-work condominium occupies the top floor at River Rock Community. The interior combines an efficient open plan with one private room and a large alcove, plus a full bath and in-unit laundry. Recent updates include new flooring, fresh paint, and added cabinetry. Forced-air heat, central air, abundant natural light, and a private balcony overlooking River Rock Pond and the Bridger Mountain Range complete the unit.
A commercial-sized elevator serves the third floor, with open parking available for clients, guests, and occupants. The property is located at 129 Village Drive in Belgrade, Montana. Professionally managed HOA dues cover water, sewer, utilities, garbage, lawn care, snow removal, and master insurance. Exterior improvements include new siding and a new roof.
A commercial-sized elevator serves the third floor, with open parking available for clients, guests, and occupants. The property is located at 129 Village Drive in Belgrade, Montana. Professionally managed HOA dues cover water, sewer, utilities, garbage, lawn care, snow removal, and master insurance. Exterior improvements include new siding and a new roof.
Key Highlights
- Approximately 760 square feet with an efficient open layout
- Top‑floor unit with private balcony overlooking River Rock Pond and the Bridger Mountain Range
- One private room, large alcove, full bath, and in‑unit laundry
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
$11,180
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
3.74%
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%
$223,600
$223.6K
Cap Rate 7%
$159,714
$159.7K
Cap Rate 9%
$124,222
$124.2K
Market Conditions
NOI Build-Up for 760 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 $21.00/SF
− Vacancy
−$1.1K −$1.39/SF
EGI
$14.9K $19.61/SF
− OpEx
−$3.7K −$4.90/SF
NOI
$11.2K $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%
$223,600
Cap Rate 7%
$159,714
Cap Rate 9%
$124,222
Alternative Uses
Best Use
Office B
$159.7K
$139.8K – $186.3K
NOI $11,180 @ 7.0% cap · market cap 3.74%
Second Best
Mixed Use
$149.3K
$130.7K – $174.2K
NOI $10,454 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$198.5K
$173.7K – $231.5K
NOI $13,892 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1
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?
Live-work space - Flexible commercial unit with an open layout, private room, full bath, laundry, and balcony views.
Where is this live-work space located?
The property is located at 129 Village Drive #301B 301B Belgrade, MT.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Approximately 760 square feet with an efficient open layout; Top‑floor unit with private balcony overlooking River Rock Pond and the Bridger Mountain Range; One private room, large alcove, full bath, and in‑unit laundry
