Building Details

Year Built 2006

Listing Agency: Clearwater Montana Properties - Frenchtown Show Phone

Listed By: Kristen Clark · License #RRE-BRO-LIC-89437 Show Phone

Source: Exitrealty

Added: Jun 23, 2023 Changed: Sep 1 Last Checked: Sep 15 at 6:16AM

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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 Clearwater Montana Properties - Frenchtown

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Investment Insights

Based on property information with market context.

This mixed-use property on 8.16 acres includes two substantial shops and a custom residence. The 50X70 finished shop has office space, a bathroom, interior water lines, insulation, heating, three-phase power, and access to a loading dock. The second shop measures 6600 square feet and includes a bathroom. Both buildings are served by a loop driveway with access from Hwy 200 E.

Built in 2006, the 4126 square foot home provides three bedrooms, two and a half bathrooms, a three-car attached garage, zero-step entry, black walnut cabinetry, built-ins, a wet bar, laundry room, patio access, and a hot tub. Union Creek flows along the southern end of the property. The property is located at 124 Morrison Lane in Bonner, Montana, with Johnsrud Park and Gold Creek Campground approximately 10 minutes away and the Blackfoot-Clearwater Wildlife Management Area 19 miles away.

Key Highlights

• 8.16‑acre mixed‑use property with two shops and a 4126 square foot residence
• 50X70 finished shop with office, bathroom, interior water lines, insulation, heating, and three‑phase power
• Second 6600 square foot shop includes a bathroom and is soon to be sided

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$176,062

Cap Rate

7.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,521,240 $3.5M

Cap Rate 7%

$2,515,171 $2.5M

Cap Rate 9%

$1,956,244 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,250 SF

Gross rent

$307.8K $21.60/SF

− Vacancy

−$36.9K −$2.59/SF

EGI

$270.9K $19.01/SF

− OpEx

−$94.8K −$6.65/SF

NOI

$176.1K $12.36/SF

Area

Missoula County, MT

Vacancy

12.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,521,240

Cap Rate 7%

$2,515,171

Cap Rate 9%

$1,956,244

Alternative Uses

Best Use

Flex RnD

$2.52M

$2.20M – $2.93M (±1% cap)

NOI $176,062 @ 7.0% cap · market cap 7.82%

Second Best

Warehouse

$1.80M

$1.57M – $2.09M (±1% cap)

NOI $125,699 @ 7.0% cap · market cap 5.59%

Theoretical Best

Specialty Retail

$4.11M

$3.60M – $4.79M (±1% cap)

NOI $287,601 @ 7.0% cap · market cap 12.78%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Grocery & Convenience Store Restaurant Bar & Pub Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Explore this area Business Placement

Demographics for 59823, MT

1,684

Population

865

Households

1.9

Avg Household Size

46

Median Age

38%

College-Educated

99%

High-School Grad

520.2 sq mi

ZIP Area

3

Density / Sq Mi

$82,548

Median Household Income

$43,852

Median Earnings

$688

Median Rent

$465,800

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Similar For Sale Nearby

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$625,000

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Flex Building With Drive-In Basement

8280 Hwy 200 E, Bonner, MT 59823

$625,000

0.22 Acres

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Multi-building property combines heated shop space, a residence, highway access, and creek frontage in a rural Montana setting.

Where is this mixed-use property located?

The property is located at 124 Morrison Lane Bonner, MT.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: 8.16‑acre mixed‑use property with two shops and a 4126 square foot residence; 50X70 finished shop with office, bathroom, interior water lines, insulation, heating, and three‑phase power; Second 6600 square foot shop includes a bathroom and is soon to be sided