Flex Space with
For Sale
$900,000
190 Skyway Boulevard, Belgrade, MT 59714
CommercialSale, Belgrade, MT
Property Size3,600 SF
Price / SF$250
Days on Market47
Property Features for 190 Skyway Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Belgrade
Zoning description
M1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Assigned
Directions
Take East Frontage Rd to Airport Rd, Turn North on Tubb Rd, Turn East on Skyway Blvd, Go East about 800 yards and turn right and the property is the end unit on the right.
Subdivision
3N - Belgrade Area N of I90
Standard status
Active
APN
RFG70832
Size
3,600 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
BROWN HORSE CONDO, S05, T01 S, R05 E, UNIT 3
Tax Annual Amount
4451
HOA Fee
$2,457 Annually
Legal Description
BROWN HORSE CONDO, S05, T01 S, R05 E, UNIT 3
Utilities
Heating system
Radiant Floor, Radiant Ceiling, Radiant, Ceiling
Water source
Well
Building Details
Year built
2017
Listing Agency:
Money Matters Real Estate
(406) 587-7000
Listed By:
Kyle Miller · License #RBS-71067
(406) 580-0137
Added: Sep 8
Changed: Oct 16
Last Checked: Oct 24 at 6:06AM
MLS# 414592
Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,600-square-foot commercial condominium at 190 Skyway Boulevard was built in 2017 and measures 60 by 60 feet. The main space has 16-foot ceilings and two 14-foot overhead doors. Three-phase power and 220-amp electrical service are available, with connections inside and outside. Radiant heating serves the unit, which also has pre-plumbing for natural gas heaters and a water-softening system. The mezzanine contains an office, mechanical room, and restroom.
The property is in East Gallatin Commercial Center in Belgrade, minutes from Bozeman Yellowstone International Airport and Interstate 90. Parking is assigned, and the water source is a well.
The property is in East Gallatin Commercial Center in Belgrade, minutes from Bozeman Yellowstone International Airport and Interstate 90. Parking is assigned, and the water source is a well.
Key Highlights
- 3,600 square feet; 60 by 60 feet
- 16‑foot ceilings and two 14‑foot overhead doors
- Three‑phase power and 220‑amp electrical service, with interior and exterior connections
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,395
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$907,900
$907.9K
Cap Rate 7%
$648,500
$648.5K
Cap Rate 9%
$504,389
$504.4K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$54.0K $15.00/SF
− Vacancy
−$594 −$0.17/SF
EGI
$53.4K $14.83/SF
− OpEx
−$8.0K −$2.23/SF
NOI
$45.4K $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 Rate 5%
$907,900
Cap Rate 7%
$648,500
Cap Rate 9%
$504,389
Alternative Uses
Best Use
Warehouse
$648.5K
$567.4K – $756.6K
NOI $45,395 @ 7.0% cap · market cap 5.04%
Second Best
Flex RnD
$625.7K
$547.5K – $730.0K
NOI $43,799 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$940.0K
$822.5K – $1.10M
NOI $65,802 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Highway access
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
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - A mezzanine adds office, mechanical, and restroom areas to this industrial workspace.
Where is this flex space located?
The property is located at 190 Skyway Boulevard Belgrade, MT.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 3,600 square feet; 60 by 60 feet; 16‑foot ceilings and two 14‑foot overhead doors; Three‑phase power and 220‑amp electrical service, with interior and exterior connections
