Two-Unit Flex Shop
New
For Sale
$795,000
209 Jetway Dr Unit K&L, Belgrade, MT 59714
CommercialSale, Belgrade, MT
Property Size4,145 SF
Price / SF$191.80
Days on Market7
Property Features for 209 Jetway Dr Unit K&L
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
East Gallatin Commercial
Zoning description
C
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Directions
Frontage Rd to Airport Blvd to Tubbs Rd. R on Jetway. Parking out front.
Subdivision
3N - Belgrade Area N of I90
Standard status
Active
APN
RFG61710, RFG61711
Size
4,145 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
AIRPORT PLAZA 1 CONDO, S05, T01 S, R05 E, UNIT K & L
Tax Annual Amount
3403
HOA Fee
$800 Quarterly
Legal Description
AIRPORT PLAZA 1 CONDO, S05, T01 S, R05 E, UNIT K & L
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Water source
Well
Building Details
Year built
2008
Listing Agency:
Bozeman Brokers
(406) 587-5900
Listed By:
Dianne Click · License #BRO-9327
(406) 580-8881
Added: Oct 1
Changed: Oct 7
Last Checked: Oct 7 at 10:06AM
MLS# 415153
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.
Investment Insights
Based on property information with market context.
At 209 Jetway Dr, Units K and L comprise two adjacent commercial shop condominiums with 4,145 square feet in total. Each has approximately 1,600 square feet on the main level, 18-foot ceilings, a 14-foot overhead door, and a full bathroom. The layout allows the units to function separately or together.
Unit K adds a 945-square-foot mezzanine, a small kitchen, water, and a dryer. The property was built in 2008 and has forced-air heating fueled by natural gas, well water, and a septic system. East Gallatin Commercial zoning applies.
The property is in Belgrade, near the airport and the commercial corridor. The two-unit configuration combines shop area with additional space for offices, storage, or other uses supported by the layout.
Unit K adds a 945-square-foot mezzanine, a small kitchen, water, and a dryer. The property was built in 2008 and has forced-air heating fueled by natural gas, well water, and a septic system. East Gallatin Commercial zoning applies.
The property is in Belgrade, near the airport and the commercial corridor. The two-unit configuration combines shop area with additional space for offices, storage, or other uses supported by the layout.
Key Highlights
- Two adjacent commercial shop condominiums totaling 4,145 square feet
- Each unit has approximately 1,600 sf of main‑level space
- 18' ceilings and 14' overhead doors in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,429
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,008,580
$1.0M
Cap Rate 7%
$720,414
$720.4K
Cap Rate 9%
$560,322
$560.3K
Market Conditions
NOI Build-Up for 4,145 SF
Gross rent
$83.1K $20.04/SF
− Vacancy
−$5.5K −$1.32/SF
EGI
$77.6K $18.72/SF
− OpEx
−$27.2K −$6.55/SF
NOI
$50.4K $12.17/SF
Area
Gallatin County, MT
Vacancy
6.60%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,008,580
Cap Rate 7%
$720,414
Cap Rate 9%
$560,322
Alternative Uses
Best Use
Flex RnD
$720.4K
$630.4K – $840.5K
NOI $50,429 @ 7.0% cap · market cap 6.34%
Second Best
Industrial
$614.9K
$538.1K – $717.4K
NOI $43,044 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.08M
$947.1K – $1.26M
NOI $75,764 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
86
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Adjacent shop units provide work and storage areas, with a mezzanine, kitchen, and full bathrooms.
Where is this flex space located?
The property is located at 209 Jetway Dr Unit K&L Belgrade, MT.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two adjacent commercial shop condominiums totaling 4,145 square feet; Each unit has approximately 1,600 sf of main‑level space; 18' ceilings and 14' overhead doors in both units
