Bozeman Warehouses with Ample
For Sale
Contact for pricing
Pending
2150 Industrial Dr, Bozeman, MT 59715
Two warehouse buildings on a .657-acre lot.
Property Size11,400 SF
Lot Size0.66 Acres
Days on Market161
Property Features for 2150 Industrial Dr
General Information
Standard status
Pending
Size
11,400 SF
Lot size
0.66 Acres
Property subtype
Industrial
Building Details
Buildings
2
Listing Agency:
Starner Commercial Real Estate
(406) 539-0717
Listed By:
Tom Starner · License #RRE-BRO-LIC-12265
Source:
Crexi
Added: Mar 4
Changed: Aug 8
Last Checked: Jul 25 at 3:15AM
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 Starner Commercial Real Estate
Investment Insights
Based on property information with market context.
Two warehouse buildings are situated on a 0.657-acre lot just off Griffin Drive in Bozeman. The South building features approximately 6,900 square feet of open warehouse space, complemented by an additional 1,100 square feet of office space. Furthermore, there is approximately 1,000 square feet of mezzanine space available for extra storage, which is not included in the total square footage. High ceilings and three overhead doors enhance the functionality of this warehouse and distribution space. The north building offers 3,400 square feet of open warehouse space with one large overhead door. The buildings are positioned at the edges of the lot line, providing ample space between them for trucks, parking, and yard space.
Key Highlights
- Two warehouse buildings on a single .657‑acre lot.
- Convenient location just off Griffin Drive.
- South building: 6,900 SF warehouse + 1,100 SF office + 1,000 SF mezzanine.
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
$167,700
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
6.71%
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%
$3,354,000
$3.4M
Cap Rate 7%
$2,395,714
$2.4M
Cap Rate 9%
$1,863,333
$1.9M
Market Conditions
NOI Build-Up for 11,400 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
$239.4K $21.00/SF
− Vacancy
−$15.8K −$1.39/SF
EGI
$223.6K $19.61/SF
− OpEx
−$55.9K −$4.90/SF
NOI
$167.7K $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%
$3,354,000
Cap Rate 7%
$2,395,714
Cap Rate 9%
$1,863,333
Alternative Uses
Best Use
Office B
$2.40M
$2.10M – $2.80M
NOI $167,700 @ 7.0% cap · market cap 6.71%
Second Best
Warehouse
$2.05M
$1.80M – $2.40M
NOI $143,751 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$2.98M
$2.60M – $3.47M
NOI $208,374 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 59715, MT
37,286
Population
17,116
Households
2.2
Avg Household Size
30
Median Age
68%
College-Educated
98%
High-School Grad
294.9 sq mi
ZIP Area
126
Density / Sq Mi
$85,000
Median Household Income
$31,646
Median Earnings
$1,376
Median Rent
$755,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A-1 Security Storage — 1623 N Rouse Ave, Bozeman, MT 59715
- Osterman's Mini Warehouses — 1800 N Rouse Ave, Bozeman, MT 59715
- The Ice House — 997 Story Mill Rd, Bozeman, MT 59715
- Mr. T's Towing & Repair — 411 Bond St, Bozeman, MT 59715
Frequently Asked Questions
What type of property is this?
Warehouse - Two warehouse buildings on a .657-acre lot.
Where is this warehouse located?
The property is located at 2150 Industrial Dr Bozeman, MT.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Two warehouse buildings on a single .657‑acre lot.; Convenient location just off Griffin Drive.; South building: **6,900 SF warehouse + 1,100 SF office + 1,000 SF mezzanine**.
