Flex Space Warehouse with Overhead
For Sale
Contact for pricing
22 Shawnee Way, Bozeman, MT 59715
Flex space featuring a large overhead door into open warehouse space plus additional office, showroom, and storage rooms.
Property Size2,026 SF
Price / SF$239.39
Days on Market70
Property Features for 22 Shawnee Way
General Information
Standard status
Active
Size
2,026 SF
Property subtype
INDUSTRIAL
Amenities
overhead door
Listing Agency:
Starner Commercial Real Estate
Listed By:
Tom Starner · License #BRO-12265
(406) 539-0717
Source:
Moodyscre
Added: Jul 20
Changed: Sep 13
Last Checked: Sep 26 at 11:18AM
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.
This flex space offers a large overhead door opening into an open warehouse area, supported by additional rooms for office, showroom, and storage use. The layout is designed to support both warehouse and front-of-house or administrative functions in one space.
Located at 22 Shawnee Way in Bozeman, MT 59715, the property’s warehouse configuration makes it suitable for light industrial, storage, and flexible workspace needs where loading access is important.
With a total size of 2,026 square feet, the space provides room to combine open operational area with separate rooms for offices, showroom activity, and storage.
Located at 22 Shawnee Way in Bozeman, MT 59715, the property’s warehouse configuration makes it suitable for light industrial, storage, and flexible workspace needs where loading access is important.
With a total size of 2,026 square feet, the space provides room to combine open operational area with separate rooms for offices, showroom activity, and storage.
Key Highlights
- Large overhead door into an open warehouse space
- Additional rooms for offices, showroom, and storage
- Flex space layout combines warehouse and interior rooms
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
$25,547
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
5.27%
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%
$510,940
$510.9K
Cap Rate 7%
$364,957
$365.0K
Cap Rate 9%
$283,856
$283.9K
Market Conditions
NOI Build-Up for 2,026 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
$30.4K $15.00/SF
− Vacancy
−$334 −$0.17/SF
EGI
$30.1K $14.83/SF
− OpEx
−$4.5K −$2.23/SF
NOI
$25.5K $12.61/SF
Area
Gallatin County, MT
Vacancy
1.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
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%
$510,940
Cap Rate 7%
$364,957
Cap Rate 9%
$283,856
Alternative Uses
Best Use
Warehouse
$365.0K
$319.3K – $425.8K
NOI $25,547 @ 7.0% cap · market cap 5.27%
Second Best
Flex RnD
$352.1K
$308.1K – $410.8K
NOI $24,649 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$529.0K
$462.9K – $617.2K
NOI $37,032 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
114
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space featuring a large overhead door into open warehouse space plus additional office, showroom, and storage rooms.
Where is this flex space located?
The property is located at 22 Shawnee Way Bozeman, MT.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Large overhead door into an open warehouse space; Additional rooms for offices, showroom, and storage; Flex space layout combines warehouse and interior rooms
