Flex Space with
For Sale
$415,000
211 Jetway Drive D, Belgrade, MT 59714
Shop condominium with office, bathroom, mezzanine, and oversized overhead access for adaptable business or personal workspace.
Property Size1,759 SF
Price / SF$235.93
Days on Market11
Property Features for 211 Jetway Drive D
General Information
Standard status
Active
Size
1,759 SF
Property subtype
Commercial
Zoning
None/Unknown
Warehouse & Industrial
Clear Height
17 ft
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$1,701
Building Details
Building Size
1,759 SF
Year Built
2008
Listing Agency:
RE/MAX Premier
(406) 686-1020
Listed By:
Graham Miles
(406) 686-1020
Source:
Outlaw
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 9 at 8:47AM
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 RE/MAX Premier
Investment Insights
Based on property information with market context.
This 1,759-square-foot flex space is configured as a commercial shop condominium with an approximately 1,600-square-foot main level. The interior combines an open work area with a finished office, private bathroom, separate entry, and an upper mezzanine that can support additional office or storage functions. A 17-foot ceiling and 14-foot-tall overhead door accommodate large vehicles, trailers, equipment, automotive lifts, and vertical storage.
Built in 2008, the property offers a practical combination of shop capacity and dedicated administrative space. The unit is located at 211 Jetway Drive D in Belgrade, near the airport and the city’s growing commercial corridor. Its layout is suited to contractors, trades businesses, automotive users, recreational vehicle owners, and users seeking secure warehouse space.
Built in 2008, the property offers a practical combination of shop capacity and dedicated administrative space. The unit is located at 211 Jetway Drive D in Belgrade, near the airport and the city’s growing commercial corridor. Its layout is suited to contractors, trades businesses, automotive users, recreational vehicle owners, and users seeking secure warehouse space.
Key Highlights
- 1,759‑square‑foot commercial shop condominium
- Approximately 1,600‑square‑foot main level
- 17‑foot ceiling height
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
$25,876
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
6.24%
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%
$517,520
$517.5K
Cap Rate 7%
$369,657
$369.7K
Cap Rate 9%
$287,511
$287.5K
Market Conditions
NOI Build-Up for 1,759 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
$36.9K $21.00/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$34.5K $19.61/SF
− OpEx
−$8.6K −$4.90/SF
NOI
$25.9K $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 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%
$517,520
Cap Rate 7%
$369,657
Cap Rate 9%
$287,511
Alternative Uses
Best Use
Office B
$369.7K
$323.5K – $431.3K
NOI $25,876 @ 7.0% cap · market cap 6.24%
Second Best
Warehouse
$316.9K
$277.3K – $369.7K
NOI $22,181 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$459.3K
$401.9K – $535.9K
NOI $32,152 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
17 ft
Clear height
1
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Shop condominium with office, bathroom, mezzanine, and oversized overhead access for adaptable business or personal workspace.
Where is this flex space located?
The property is located at 211 Jetway Drive D Belgrade, MT.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 1,759‑square‑foot commercial shop condominium; Approximately 1,600‑square‑foot main level; 17‑foot ceiling height
