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    Functional Warehouse Space in Bozeman Title is generated by Realmo AI

    214 Shepherd Trail, Bozeman, MT 59718

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    For Lease
    $15 SF/Yr $2,392/Mo (calc)

    COMMERCIAL - Bozeman, MT

    Property size:
    1,914 SF
    Added:
    Feb 10, 2026
    Days on Market:
    101
    Last Refresh:
    May 22 at 3:06 am

    Property Features for 214 Shepherd Trail

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    RGF54864
    Size
    1,914 SF

    Taxes and HOA fees

    Tax Description
    NORTHSTAR COMM SUB PH 2, S14, T02 S, R04 E, Lot 22A - 23A, ACRES 2.06, PLAT J-428-B PLUS OPEN SPACE & ROADS

    Building Details

    Floors in Building
    2

    We can help!

    Listing Contact
    Sunny Odegard
    Sunny Odegard

    Listing agent Sunny Odegard License #BRO-63608

    Listing office Starner Commercial Real Estate 1276 N 15th Ave, Suite 103, Bozeman, MT

    Listing date Feb 10, 2026

    MLS# 408446

    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.

    HighLights

    • Desirable Four Corners location with easy access to major routes.
    • 1,914 SF warehouse space with excellent functionality.
    • Spacious mezzanine for additional storage or flexible use.
    • 14‑foot overhead door for efficient loading and operations.
    • Dedicated customer entry for a professional presence.
    • Three allocated parking spaces plus additional street parking.

    Overview

    This 1,914 SF warehouse space is located in the Four Corners area. It features a mezzanine for storage or flexible use, a floor drain, and one private restroom. A dedicated customer entry provides a professional presence. A 14-foot overhead door allows for efficient loading. The unit includes three allocated parking spaces, with additional street parking available. This property is ideal for a variety of commercial or light industrial uses, combining practicality with a great location and easy access to major routes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hammerhead Forge LLC General Contractor Shines Autos Meticulously Car Wash Reliable Plumbing Plumbing Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • 4 corner storage — 88 Old Milwaukee Dr, Bozeman, MT 59718
    • Storage Rentals of America — 26 Old Milwaukee Dr, Bozeman, MT 59718
    • Bozeman Portable Storage — 135 Hideaway Dr, Bozeman, MT 59718

    Location Insight

    • Map
    • Local Demand
    City
    Bozeman
    County
    Gallatin
    State
    Montana
    Longitude
    -111.1927546
    Latitude
    45.6684297

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    FAQs

    What type of property is this?
    Warehouse - Well-located 1,914 SF warehouse with mezzanine and 14-foot door.
    Where is this warehouse located?
    The property is located at 214 Shepherd Trail Bozeman, MT.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Desirable Four Corners location with easy access to major routes.; 1,914 SF warehouse space with excellent functionality.; Spacious mezzanine for additional storage or flexible use.
    (406) 570-4931
    We can help!
    Listing Contact
    Sunny Odegard
    Sunny Odegard
    Real Estate License ID: BRO-63608
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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