Insulated Warehouse Condo with
For Sale
$472,550
1102 Jackrabbit Lane Unit 3, Belgrade, MT 59714
Modern, fully insulated and heated warehouse condo with 18-foot ceilings and a 14-by-14 overhead garage door.
Property Size1,454 SF
Price / SF$325
Days on Market51
Property Features for 1102 Jackrabbit Lane Unit 3
General Information
Standard status
Active
Size
1,454 SF
Zoning
MU
Building Details
Building Size
1,454 SF
Year Built
2024
Listing Agency:
Berkshire Hathaway - Bozeman
(406) 539-5358
Listed By:
Nicole Taranto · License #RBS-46320
Source:
Purewestrealestate
Added: Jul 3
Changed: Aug 11
Last Checked: Aug 21 at 5:35AM
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 Berkshire Hathaway - Bozeman
Investment Insights
Based on property information with market context.
This modern commercial warehouse condo features a fully insulated and heated metal building designed for efficient, low-maintenance use. The space includes 18-foot ceilings and an oversized 14-by-14 overhead garage door, providing practical flexibility for a range of commercial and industrial storage or operational needs.
Located in Belgrade, the property is described as minutes from Bozeman Yellowstone International Airport and I-90, with convenient access to the route toward Big Sky.
The unit is positioned for owner users and investors seeking a warehouse layout with straightforward access through a large overhead door and clear vertical clearance.
Located in Belgrade, the property is described as minutes from Bozeman Yellowstone International Airport and I-90, with convenient access to the route toward Big Sky.
The unit is positioned for owner users and investors seeking a warehouse layout with straightforward access through a large overhead door and clear vertical clearance.
Key Highlights
- 2024‑built modern commercial warehouse condo in North Belgrade
- Fully insulated and heated metal building
- 18‑foot ceilings and an oversized 14‑by‑14 overhead garage door
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
$18,335
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
3.88%
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%
$366,700
$366.7K
Cap Rate 7%
$261,929
$261.9K
Cap Rate 9%
$203,722
$203.7K
Market Conditions
NOI Build-Up for 1,454 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
$21.8K $15.00/SF
− Vacancy
−$240 −$0.17/SF
EGI
$21.6K $14.83/SF
− OpEx
−$3.2K −$2.23/SF
NOI
$18.3K $12.61/SF
Area
Gallatin County, MT
Vacancy
1.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$366,700
Cap Rate 7%
$261,929
Cap Rate 9%
$203,722
Alternative Uses
Best Use
Warehouse
$261.9K
$229.2K – $305.6K
NOI $18,335 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.7K
$332.2K – $443.0K
NOI $26,577 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Montana Self Storage — 697 E Cameron Bridge Rd, Bozeman, MT 59718
- Big Sky Self Storage — 5102 Jackrabbit Ln, Belgrade, MT 59714
Frequently Asked Questions
What type of property is this?
Warehouse - Modern, fully insulated and heated warehouse condo with 18-foot ceilings and a 14-by-14 overhead garage door.
Where is this warehouse located?
The property is located at 1102 Jackrabbit Lane Unit 3 Belgrade, MT.
What is the asking price?
The asking price for this property is $472,550.
What are key features of this property?
This property features: 2024‑built modern commercial warehouse condo in North Belgrade; Fully insulated and heated metal building; 18‑foot ceilings and an oversized 14‑by‑14 overhead garage door
