Live-Work Condo with Heated
New
For Sale
$675,000
204 Fletching Unit D, Belgrade, MT 59714
CommercialSale, Belgrade, MT
Property Size2,415 SF
Price / SF$279.50
Days on Market2
Property Features for 204 Fletching Unit D
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
MU
Subdivision
Jackrabbit Reserve
Directions
Jackrabbit to Fletching (behind Fiesta Mexicana)
Standard status
Active
APN
00RFF87445
Size
2,415 SF
Additional Details
Property Use
Live/Work
Taxes and HOA fees
Tax Year
2026
Tax Description
JACKRABBIT RESERVE MAJOR SUB, S11, T01 S, R04 E, Lot 2, ACRES 0.33, PLAT J-728
HOA Fee
$50 Monthly
Legal Description
JACKRABBIT RESERVE MAJOR SUB, S11, T01 S, R04 E, Lot 2, ACRES 0.33, PLAT J-728
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
2026
Listing Agency:
Realty Executives · Realty Executives International
Listed By:
Jason Zalac · License #BRO-14799
(406) 570-0297
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 11:06AM
MLS# 415734
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 2,415-square-foot live-work condominium pairs a two-bedroom residence with a heated shop on the main level. The 1,173-square-foot shop includes an office or studio, kitchenette, three-quarter bath, epoxy flooring, hot and cold hose bibs, and a mezzanine for storage. A 12-foot-high garage door opens to 40 feet of shop depth, and the space has its own entrance.
The second-level residence measures 1,242 square feet and includes two full bathrooms, an open kitchen with an island, granite countertops, central air and heating, and a balcony. The floor plan also features a primary suite. The property is under construction, with completion scheduled for 2026.
The second-level residence measures 1,242 square feet and includes two full bathrooms, an open kitchen with an island, granite countertops, central air and heating, and a balcony. The floor plan also features a primary suite. The property is under construction, with completion scheduled for 2026.
Key Highlights
- 2,415‑square‑foot live‑work condominium
- 1,173‑square‑foot heated shop with a 12‑foot‑high garage door and 40 feet of depth
- Shop includes an office/studio, kitchenette, three‑quarter bath, epoxy floors, and upper mezzanine
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,526
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,520
$710.5K
Cap Rate 7%
$507,514
$507.5K
Cap Rate 9%
$394,733
$394.7K
Market Conditions
NOI Build-Up for 2,415 SF
Gross rent
$50.7K $21.00/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$47.4K $19.61/SF
− OpEx
−$11.8K −$4.90/SF
NOI
$35.5K $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 Rate 5%
$710,520
Cap Rate 7%
$507,514
Cap Rate 9%
$394,733
Alternative Uses
Best Use
Office B
$507.5K
$444.1K – $592.1K
NOI $35,526 @ 7.0% cap · market cap 5.26%
Second Best
Mixed Use
$474.5K
$415.2K – $553.6K
NOI $33,218 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$630.6K
$551.8K – $735.7K
NOI $44,142 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
14 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
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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 Office in West region
Frequently Asked Questions
What type of property is this?
Live-work space - Separate shop access and an upper-level residence combine work and living space in one new-construction property.
Where is this live-work space located?
The property is located at 204 Fletching Unit D Belgrade, MT.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,415‑square‑foot live‑work condominium; 1,173‑square‑foot heated shop with a 12‑foot‑high garage door and 40 feet of depth; Shop includes an office/studio, kitchenette, three‑quarter bath, epoxy floors, and upper mezzanine
