Commercial Building with
For Sale
$399,000
2000 Farragut Avenue, Butte, MT 59701
Commercial building with full bath, large storage room, and wraparound parking for flexible retail, office, or service use.
Property Size2,476 SF
Price / SF$161.15
Days on Market349
Property Features for 2000 Farragut Avenue
General Information
Standard status
Active
Size
2,476 SF
Property subtype
Commercial
Building Details
Year Built
1977
Listing Agency:
Engel & Volkers - Bozeman
(406) 686-1020
Listed By:
Graham Miles
(406) 686-1020
Source:
Outlaw
Added: Sep 9, 2025
Changed: Jul 10
Last Checked: Aug 23 at 2:55AM
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 Engel & Volkers - Bozeman
Investment Insights
Based on property information with market context.
The property is a commercial building offered for sale, with a configuration that may be split in half to support two separate businesses. Inside, it includes a full bath with a shower, along with a large storage room at the back. The building is equipped with air conditioning, and the layout is designed to accommodate a range of operating concepts, from office use to retail or service-oriented businesses.
Set in a high-traffic area, the site features plenty of parking with pavement wrapping around the building. This creates convenient vehicle access and support for customer or employee parking needs.
This building is well suited for an owner-operator or investor who wants flexibility in how the space is used. The combination of AC, a dedicated bathroom, and a substantial back storage area can support a variety of concepts such as offices, daycare, retail, restaurant or bakery operations, fitness studios, or specialty uses like a flower shop. While the seller notes that the property may be split to create two business spaces, only the real estate is being sold and not the business.
Set in a high-traffic area, the site features plenty of parking with pavement wrapping around the building. This creates convenient vehicle access and support for customer or employee parking needs.
This building is well suited for an owner-operator or investor who wants flexibility in how the space is used. The combination of AC, a dedicated bathroom, and a substantial back storage area can support a variety of concepts such as offices, daycare, retail, restaurant or bakery operations, fitness studios, or specialty uses like a flower shop. While the seller notes that the property may be split to create two business spaces, only the real estate is being sold and not the business.
Key Highlights
- Commercial building built in 1977
- Flexible floor plan for offices, retail, or other uses; may be split in half for two separate businesses
- Wraparound parking with pavement wrapping around the building
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
$14,995
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
3.76%
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%
$299,900
$299.9K
Cap Rate 7%
$214,214
$214.2K
Cap Rate 9%
$166,611
$166.6K
Market Conditions
NOI Build-Up for 2,476 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
$37.1K $15.00/SF
− Vacancy
−$5.6K −$2.25/SF
EGI
$31.6K $12.75/SF
− OpEx
−$16.6K −$6.69/SF
NOI
$15.0K $6.06/SF
Area
Silver Bow County, MT
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$299,900
Cap Rate 7%
$214,214
Cap Rate 9%
$166,611
Alternative Uses
Best Use
Hotel Hospitality
$214.2K
$187.4K – $249.9K
NOI $14,995 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$539.6K
$472.2K – $629.6K
NOI $37,773 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 59701, MT
33,937
Population
16,834
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
509.7 sq mi
ZIP Area
67
Density / Sq Mi
$56,799
Median Household Income
$34,793
Median Earnings
$811
Median Rent
$219,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Casino - Commercial building with full bath, large storage room, and wraparound parking for flexible retail, office, or service use.
Where is this casino located?
The property is located at 2000 Farragut Avenue Butte, MT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Commercial building built in 1977; Flexible floor plan for offices, retail, or other uses; may be split in half for two separate businesses; Wraparound parking with pavement wrapping around the building
